The Romanian mergers and acquisitions (M&A) market reached an estimated value of USD 4.1 billion in the first half of 2025, marking a 45% increase compared to the same period in 2024, EY Romania reported on July 8, according to Ziarul Financiar.
Romania’s mergers and acquisitions (M&A) market recorded 122 announced transactions worth over EUR 2.7 billion in the first half of 2025, reflecting a 6% rise in volume and a 4% increase in value compared to the same period last year, according to PwC Romania.
Published transaction values rose 185% year-on-year to USD 2.8 billion, though transparency remained limited, with undisclosed values in 73% of deals above the historical average of 66% recorded since 2018, EY reported.
“The Romanian M&A market has demonstrated resilience in both volume and value, largely supported by strategic transactions with significant value,” said Iulia Bratu, Head of Lead Advisory at EY Romania. She noted that Healthcare and Technology re-emerged as active sectors despite global economic headwinds and local political uncertainty.
A total of 139 deals were announced in Romania in H1 2025, up 9% from 127 in H1 2024, making it the second-highest half-year figure to date. Strategic investors continued to dominate with 87% of deal volume (121 deals), though down from 93% in the same period last year.
Private equity activity increased to 9% of deals, accounting for USD 621 million in value.
Four transactions exceeded USD 100 million in value, compared to three in H1 2024. The largest involved 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.
CVC emerged as a leading investor, also acquiring a 50% stake in Therme Horizon for USD 575 million. In addition, CTP acquired P3 Group’s Romanian logistics assets for USD 280 million.
The domestic share of transactions remained steady at 42%, with foreign investor participation rising slightly to 66 deals. Inbound acquisitions outpaced divestments by foreign investors (42 deals), reaffirming Romania’s position as a net beneficiary of foreign capital.
Real Estate, Hospitality & Construction led sectoral activity with 30 deals, followed by Advanced Manufacturing & Mobility (23), Healthcare & Pharmaceuticals (18), and both Energy & Utilities and Technology, Media & Telecommunications (17 each).
iulian@romania-insider.com
(Photo source: Vichaya Kiatyingangsulee/Dreamstime.com)
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