Record M&A activity in Ireland sees 240 deals worth €24.6bn.
The Irish M&A market recorded 240 significant transactions in 2021, a 33% rise on 2020 and the highest deal volume since 2006.
The William Fry M&A Review 2021, in association with Mergermarket, also found that total M&A value recovered significantly, rising by 185% to €24.6bn.
“Against this backdrop, the Irish M&A market built on the recovery that began in Q4 2020 and recorded a very busy 2021”
The year was characterised by 10 megadeals worth €500m or more apiece, which was three times more than 2020.
There were 172 inbound cross-border transactions in 2021 worth €19.2bn.
The TMT (tech, media, telecoms) and financial Services Sectors were the most active with TMT accounting for 28% of total deal volume and Financial Services accounting for 29% of all deals by value
81% of all deals with a disclosed value recorded over the year were between €5m and €250m.
The largest Irish TMT deal last year was a €1.8bn team up between private equity firm Advent and European investment group Eurazeo to take control of Ireland’s Planet (digital payment services provider).
Other notable TMT deals underline private equity’s interest in the sector, including the special purpose acquisition vehicle Live Oak’s €1.2bn merger with Navitas Semiconductor and Bridgepoint’s acquisition of software specialist Fenergo at a valuation in excess of US$1 billion
“Ireland’s economy bounced back remarkably strongly in 2021 from the Covid-19 disruption of the previous year,” said Stephen Keogh, head of Corporate/M&A at Wlliam Fry.
“This resurgence reflects both booming exports from the many multinational companies in Ireland and a very strong performance from the domestic economy, with consumer spending sharply up compared with 2020.
“Against this backdrop, the Irish M&A market built on the recovery that began in Q4 2020 and recorded a very busy 2021.”