2024 saw significant political change worldwide, with over 60 countries holding elections. Incumbent governments faced challenges driven by inflation and broader economic uncertainty. Against this backdrop, global M&A activity declined, although it remained above pre-COVID levels, having stabilized from the unsustainable peak seen in early 2022. In the mid-market segment, private equity (PE) played a larger role than historically seen, accounting for one in three deals globally, fuelled by the substantial capital reserves available for deployment.
In contrast to the global slowdown, Ireland’s M&A market remained resilient, with 462 deals completed. While this is a slight decrease from the 480 transactions recorded in 2023, it is still a strong performance given the challenging global economic conditions. Notably, deal value surged, reflecting a greater number of high-value transactions.
The most active sectors were Software (84 deals) and Financial Services (56 deals), the latter driven by consolidation in the wealth management and insurance space, with firms like Fairstone leading multiple acquisitions. The Leisure sector also saw a notable uptick, with 32 deals in 2024 compared to 19 in 2023, driven by increased activity in the hotel and pub sectors.
Private equity remained a major force in the market, with 145 PE-backed deals. PE involvement was particularly strong in Software (33 deals) and Energy, Mining & Utilities (19 deals), reflecting the growing investor interest in decarbonisation and renewable energy assets. Meanwhile, foreign buyers accounted for 239 transactions, reinforcing Ireland’s strong international appeal.
Notable transactions included:
This sustained M&A activity is encouraging more Irish SMEs to explore transaction opportunities—whether for succession planning, de-risking, or securing investment for growth. Private equity, in particular, is being recognised as a valuable partner for ambitious management teams seeking to scale their businesses. Throughout 2024, BDO hosted nationwide events to highlight success stories of companies that have successfully partnered with private equity, underscoring the importance of preparation and alignment in securing investment.
In contrast to the global slowdown, Ireland’s M&A market remained resilient, with 462 deals completed. While this is a slight decrease from the 480 transactions recorded in 2023, it is still a strong performance given the challenging global economic conditions. Notably, deal value surged, reflecting a greater number of high-value transactions.
The most active sectors were Software (84 deals) and Financial Services (56 deals), the latter driven by consolidation in the wealth management and insurance space, with firms like Fairstone leading multiple acquisitions. The Leisure sector also saw a notable uptick, with 32 deals in 2024 compared to 19 in 2023, driven by increased activity in the hotel and pub sectors.
Private equity remained a major force in the market, with 145 PE-backed deals. PE involvement was particularly strong in Software (33 deals) and Energy, Mining & Utilities (19 deals), reflecting the growing investor interest in decarbonisation and renewable energy assets. Meanwhile, foreign buyers accounted for 239 transactions, reinforcing Ireland’s strong international appeal.
Notable transactions included:
- LGT’s investment in H&MV Engineering
- Verdane’s majority acquisition of Corlytics
- Blackstone’s acquisition of a majority stake in Winthrop
- EQT’s acquisition of Keywords studios
- Turner Construction’s acquisition of Dornan Engineering Group
- Fairstone Group’s multiple acquisitions in the wealth management sector
- Melior’s Ohk Group completing its fourth renewable energy acquisition