Ireland M&A Half-Year Review | 2022

ReportData Insight 9 August

Ireland M&A Half-Year Review | 2022

Against a backdrop of economic and socio-political uncertainty, Irish dealmaking proves remarkably robust

The William Fry Ireland M&A Half-Year Review | 2022 provides a comprehensive overview of developments in the Irish M&A market during the first half of 2022 and offers insight into the outlook for the rest of the year.

Highlights include:

  • Irish dealmaking proves robust. Against a backdrop of economic and socio-political uncertainty, Irish dealmaking has fared surprisingly well. A total of 122 deals worth €6.4bn were announced in the first half of 2022. Although this represents a 14% decrease in volume compared to H1 2021 and a 66% decrease in value, it fares well compared to activity levels before the pandemic – there were 94 deals worth €2bn in H1 2018 and 88 deals worth €2.8bn in 2019.
  • Inbound activity remains prominent. In H1 2022, all but one of the top 10 deals of the year were conducted by overseas acquirers. Despite this dominance by overseas acquirers at the top end of the market, activity slowed year-on-year in line with general global trends. A total of 92 inbound transactions valued at €5.8bn represented a 12% decrease in volume year-on-year, and a 59% decrease in value compared to H1 2021.
  • Financial services deal value flies high. Financial services was the dominant sector in Irish dealmaking, accounting for 32% of total Irish M&A deal value in the first six months of the year. Activity within the aviation finance sector was bolstered by the largest deal of H1 overall – SMBC Aviation Capital’s €1.5bn acquisition of aircraft leasing rival Goshawk Aviation. In total, financial services generated €2.1bn-worth of deals in H1.
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