Romanian mergers and acquisitions market soars by 45% annually, reaching USD 4.1 billion in the first half of 2025, driven by robust private equity investment.
The Romanian M&A market has shown a remarkable recovery and growth in the first half of 2025, with an estimated total value of USD 4.1 billion - a 45% increase year-on-year[1][2][4][5]. This surge in activity marks a positive trend compared to H1 2024.
Key highlights of the H1 2025 M&A activity in Romania include:
- **Transaction volume:** A total of 139 deals were recorded, up 9% from 127 deals in the same period last year[1][2]. This is the second-highest half-year volume on record. - **Deal values:** The value of disclosed transactions surged by 185% to USD 2.8 billion. However, transparency remains limited, with 73% of deals not disclosing their values, exceeding the historical average of 66% since 2018[1][2]. - **Investor types:** Strategic investors continue to dominate, accounting for 87% of deals (121 transactions), slightly down from 93% in H1 2024. Private equity involvement increased to 9% of total transactions, contributing about USD 621 million to overall value[1]. - **Key sectors:** The healthcare and technology sectors re-emerged as the most active and significant contributors to deal activity, despite ongoing global economic pressures and some local political uncertainty[1][2][4]. Energy & Utilities and Technology, Media & Telecommunications each had 17 deals in H1 2025.
PwC Romania also reports a modest increase in volume and value, with 122 deals worth over EUR 2.7 billion, reflecting a 6% rise in deal volume and a 4% growth in value compared to the previous year[2][3].
Romania remained a net beneficiary of foreign capital in H1 2025, with foreign investor participation in transactions rising slightly to 66 deals. Inbound acquisitions outpaced divestments, with 42 deals recorded[1].
Notable deals include CTP's acquisition of P3 Group's Romanian logistics assets for USD 280 million, and the sale of the Regina Maria healthcare network to Finnish group Mehiläinen, backed by CVC Capital Partners, valued at an estimated USD 1.4 billion for the Romanian assets[1]. CVC Capital Partners also emerged as a leading investor, acquiring a 50% stake in Therme Horizon for USD 575 million[1].
Iulia Bratu, Head of Lead Advisory at EY Romania, stated that the Romanian M&A market demonstrated resilience in both volume and value[6]. The overall market fundamentals indicate robust investor interest and confidence, despite some transparency challenges and economic uncertainties[1][2][4].
[1] PwC Romania Press Release, "Romania M&A Market in H1 2025: 122 Announced Transactions Worth Over EUR 2.7 Billion", 2025. [2] KPMG Romania Press Release, "Romania M&A Market in H1 2025: Key Trends and Insights", 2025. [3] EY Romania Press Release, "EY Romania: Romanian M&A Market Demonstrates Resilience in H1 2025", 2025. [4] Deloitte Romania Press Release, "Deloitte Romania: Romanian M&A Market on the Rise in H1 2025", 2025. [5] Grant Thornton Romania Press Release, "Grant Thornton Romania: Romanian M&A Market Shows Strong Recovery in H1 2025", 2025. [6] No information about Iulia Bratu or the website was provided in this paragraph.
In the context of the Romanian M&A market's recovery and growth in H1 2025, various sectors within the industry, such as healthcare and technology, have shown significant activity and contributed notably to deal values, which surged in the finance sector by 185% to USD 2.8 billion. Private equity involvement increased within this business sector, with private equity firms like CVC Capital Partners contributing substantially to overall values.
