Key Contacts: Eoghan Doyle – Head of Corporate and M&A | Andrew Tzialli – Partner |
Comprehensive Analysis of Ireland and the UK M&A Landscape
Welcome to Philip Lee’s Ireland and UK M&A Half Year Review 2026, our latest analysis of mergers and acquisitions activity across both jurisdictions. This edition examines deal volume, deal value, private equity trends, cross-border investment and sector performance during the first half of 2026. Drawing on Experian MarketIQ data, the report provides insights for corporates, investors and advisers assessing current market conditions and emerging opportunities heading into 2027.
Key Findings from Ireland’s M&A Market in H1 2026
Ireland’s M&A market entered a more subdued phase during H1 2026, with transaction volumes and aggregate deal values declining from the elevated levels recorded in H1 2025. Despite softer activity, the market continued to attract significant international investment, particularly across technology, manufacturing and professional services sectors.
- 279 transactions completed during H1 2026
- Represents a 30.4% decline compared to H1 2025
- Aggregate deal value decreased by 11.2%, from €22.2bn to €19.7bn
- Inward investment increased 85% in value to €11.7bn
Although activity levels moderated, H1 2026 deal values remained significantly above H1 2024 and H1 2023 levels, highlighting the continued strength of the Irish M&A market over the longer term.
Sector Insights
Technology, Media & Telecommunications (TMT)
TMT remained the leading sector for inward investment activity, accounting for 47 transactions and almost one-third of all inbound deals. Continued investment in technology-driven businesses demonstrates Ireland’s attractiveness for innovation-led growth and strategic acquisitions.
Manufacturing & Professional Services
Manufacturing and professional, scientific and technical services continued to attract strong investor interest. Manufacturing represented 17.6% of inward investment activity, while professional services accounted for 15.5% of inbound deals, reflecting ongoing confidence in scalable and export-focused businesses.
Private Equity Trends
Private equity activity softened during H1 2026 as investors adopted a more cautious approach.
- Private equity deal volume fell 39% year-on-year to 66 transactions
- Aggregate private equity value declined 48.1% to €1.6bn
Despite lower volumes, private equity investors remained active across technology, manufacturing and specialist services sectors, continuing to pursue high-quality growth opportunities.
International Buyer Activity
Cross-border investment remained a key driver of Irish M&A activity during H1 2026. The UK continued to be the largest source of identified inbound transactions, followed by the United States. Together, international investors supported significant deal activity across TMT, manufacturing and professional services sectors.
The strong increase in inbound investment value underlines Ireland’s continued appeal as a stable, innovation-focused destination for international capital.
Key Findings from the UK M&A Market in H1 2026
The UK market experienced a contrasting trend during H1 2026, with transaction numbers declining but aggregate deal values increasing significantly.
- 2,499 transactions completed during H1 2026
- Deal volume declined by 29.6% year-on-year
- Aggregate deal value increased by 56.4% to £117.1bn
- Private equity deal value rose 162.8% to £48bn
The UK market was characterised by fewer but larger transactions, with significant capital deployed across finance, technology and manufacturing sectors.
Outlook for 2027
The H1 2026 figures suggest that both Ireland and the UK remain attractive destinations for strategic acquisitions and investment. While transaction volumes have moderated, strong levels of cross-border activity and continued investor interest in key growth sectors provide positive foundations heading into 2027.
The full Philip Lee M&A Review H1 2026 provides:
- Detailed market analysis
- Sector-by-sector breakdowns
- Inbound and outbound investment trends
- Private equity insights
- Major transaction highlights
- Outlook for 2027
