NETHERLANDS Trends and Developments Contributed by: Maarten de Boorder, Samuel Garcia Nelen, Jelmer Kalisvaart and Bas Vletter, Greenberg Traurig, LLP
Outlook The outlook for 2026 is constructive and disciplined. Public markets are busier, with take-privates and tar - geted share builds complementing private market deals. Cross-border European consolidation is regain - ing prominence, supported by a more pragmatic regu - latory stance toward well-structured transactions and early remedy planning. Execution discipline, financing certainty, and regulatory readiness are increasingly decisive differentiators, particularly in larger or more complex deals. AI and digital infrastructure continue to attract capi - tal, though with sharper regulatory oversight and a capex dynamic that favours the most prepared buyers in the near term. The energy transition is moving from projects to platforms, supported by intra-European consolidation and new partnership models. Defence and security-related technologies have become stra - tegically important and investable. Financing sources are deeper and more diversified, delivering speed and certainty to bidders who can marshal them effectively. The global pattern is that value is concentrated among the largest deals and the best capitalised buyers, a structure that appears set to endure through 2026. Challenges remain, from geopolitical volatility to the complexity of multi-jurisdictional reviews, but the mar - ket has learned to operate within those constraints. Companies that combine strategic clarity with opera - tional discipline, strong stakeholder engagement and remedy-ready execution are positioned to capture opportunities. The Netherlands, with its open econ - omy, sophisticated investor base and robust legal framework, remains an attractive hub for domestic and cross-border M&A.
al combinations aimed at achieving scale efficiencies, expanding capacity, and offering broader customer propositions. Financial services and telecommuni - cations also remain strategic focus areas as part of Europe’s broader competitiveness agenda, prompting deal makers to incorporate potential regulatory rem - edies into transaction design from the outset. Private equity plays a central role in these shifts. Platform investing and buy-and-build strategies con - tinue to shape deal activity, with sponsors increas - ingly comfortable pursuing complex European con - solidation strategies, including public-to-private transactions and deals structured around anticipated divestments to address competition concerns. At the same time, many Dutch corporates are reassessing non-core assets. Carve-outs remain popular tools for sharpening strategic focus and unlocking value, with high-quality assets attracting strong interest from both strategic and financial buyers. Flexible transaction terms and credible integration plans often determine the winner in competitive processes. Cross-Border Capital and Partnerships With the Middle East Capital flows between Europe, the United States, and the Middle East have grown significantly. What began as minority investments has evolved into full strategic partnerships and joint ventures, particularly in data centres, energy, and critical infrastructure. For Euro - pean companies, these collaborations provide access to substantial, long-duration capital suited to capex- intensive growth plans. For Middle Eastern investors, European partners offer operational expertise, strong governance frameworks, and access to attractive end markets. Such partnerships support both platform M&A and greenfield development but require careful navigation of foreign direct investment rules, sanc - tions, export controls, and national security screening processes. Early planning and transparent engage - ment with relevant authorities help reduce closing risk and timeline uncertainty.
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