Outlook: M&A Review 2025

Making predictions about the future trajectory of M&A markets is always fraught with difficulty.

Globally, deal advisers report a healthy pipeline of potential transactions to come, but there can be no guarantee that dealmakers will not turn the tap off once again.

However, there are plenty of reasons to be positive, with encouraging signs of increasing activity – both publicly and privately – seen during the final months of 2025. Lower interest rates in most Western markets also offer support, even amid a slowing global economy; and Irish growth is still expected to outstrip most developed economies. Meanwhile, sectoral strengths in areas such as EMU and PMB as well as a forward-thinking approach to AI and related technologies bode well for dealmaking in Ireland in 2026.

On the other hand, the chances of a repeat of the disruption seen in 2025 is a significant concern. The US government's announcement of global trade tariffs last April slammed the brakes on M&A markets worldwide; and with President Trump's direction of travel in 2026 difficult to predict, another shock is possible. Even without a dramatic intervention, the uncertainty around US policy represents a headwind for M&A activity.

In a continued climate of macroeconomic and geopolitical uncertainty, it would be brave to predict a significant upturn in the Irish M&A market in the months ahead, but long-term dealmaking trends look favourable for the country as Irish companies continue to make attractive targets, both for strategic acquirers and PE investors. Significant deals will continue to come to the table and any easing in current global volatility could see the Irish M&A pipeline truly open up in 2026.

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