Mergers and Acquisitions (M&A) in Romania recorded deals totaling 2.7 billion Euros during the first half of 2025.

Mergers and Acquisitions (M&A) in Romania recorded deals totaling 2.7 billion Euros during the first half of 2025.

Romania's mergers and acquisitions (M&A) market has experienced a significant surge in the first half of 2025, with a total value of over €2.7 billion, marking a 45% year-on-year increase compared to H1 2024. This growth was driven by a notable rise in disclosed transaction values, which increased by 185% to €2.8 billion, despite overall deal transparency remaining low.

The key sectors that showed strong M&A activity included healthcare and technology, returning among the most active despite ongoing global economic pressures and local political developments. A total of 122 announced transactions were recorded, marking a 9% increase in deal count compared to the same period last year, making H1 2025 the second-highest half-year volume on record for Romania.

Strategic investors dominated the market, accounting for 87% of the deals, although this was slightly down from 93% in H1 2024. Private equity acquisitions increased their share to 9% of total deals, contributing around €621 million in deal value, showing heightened PE activity and interest in the market.

The manufacturing industry had a total transaction value of over €300 million, while the real estate sector saw a total transaction value of over €630 million. However, the healthcare services sector generated the largest shares in total transaction value, with over €1.1 billion. One of the notable transactions involved the sale of the private healthcare network Regina Maria to the Finnish group Mehiläinen by the investment fund MidEuropa Partners, valued at over €1 billion.

Looking ahead to H2 2025, the M&A market's resilience is expected to continue, supported by strategic transactions and private equity activity. Despite some global economic and geopolitical uncertainties, Romania's M&A market contrasts with broader European trends, where deal values slightly declined by 4% in H1 2025, indicating strong local fundamentals.

The increased presence of private equity and strategic investors suggests continued robust dealmaking across sectors like healthcare and technology. Transparency in deal disclosures might improve but remains a challenge for market participants. Small and medium-sized deals continue to be the main growth driver of the local M&A market, generating 90% of total volume.

It's worth noting that the IT&C sector continued to lose ground, both in volume and value. Over 50% of the transactions announced by strategic investors have already been closed, specifically 76 transactions totaling a value of €833 million. The energy sector registered a significant decline this semester, with a value of €150 million.

In conclusion, the Romanian M&A market in H1 2025 has shown robust growth in both value and volume, led by strategic deals and rising private equity engagements, with healthcare and technology sectors playing leading roles. The outlook for H2 2025 remains positive, with resilience expected amid ongoing macroeconomic uncertainties.

The healthcare and technology sectors, despite global economic pressures and local political developments, demonstrated strong activity in Romania's M&A market, accounting for a significant portion of the total transaction value of over €2.7 billion in H1 2025. Private equity acquisitions also contributed to this growth, increasing their share to 9% of total deals and showing heightened PE interest in the market.

Read also: