IRELAND Law and Practice Contributed by: Leonora Malone, John Olden, John Darmody and Doreen Mescal, Addleshaw Goddard
1. Trends 1.1 M&A Market
1.2 Key Trends In the last year, the top trends in Irish M&A included the following: Surge in Deal Value Ireland’s M&A market saw a 115% increase in deal value, reaching EUR27.5 billion. This was driven by several high-profile transactions, including Apollo’s EUR10.1 billion acquisition of a 49% stake in Intel’s Fab 34 facility in Leixlip. Private Equity Dominance Private equity remained a key driver of M&A, accounting for half of Ireland’s 20 largest trans - actions. Private equity-backed deals totalled 84 in 2024, underscoring strong capital deployment and growing investor confidence. Sectoral Hotspots • Technology, Media & Telecoms: The most active sector, representing 22% of total deal volume and 53% of deal value, largely fuelled by the Intel Fab 34 transaction. • Financial Services: Accounted for 21% of total market value, with significant transac - tions such as Avolon Holdings’ EUR4.1 billion acquisition of Castlelake Aviation. • Energy & Infrastructure: Surging M&A activity in offshore wind and renewables, driven by Ireland’s ambitious decarbonisation targets and investor appetite for green assets. Inbound Investment Growth Cross-border M&A remained strong, with over - seas acquirers involved in 55% of all Irish deals. UK-based buyers were particularly active, con - tributing to 275 inbound transactions worth EUR23.6 billion – a 2% rise in volume and 111% increase in value.
Over the past 12 months, Ireland’s M&A mar - ket has demonstrated resilience despite global economic uncertainty, supported by strong fun - damentals, including a well-established legal and regulatory framework. In 2024, deal volume increased by approximately 1%, with Irish M&A activity surpassing expectations. Private equity remained a key driver, with both domestic and international funds aggressively pursuing deals. Private equity-backed trans - actions saw significant growth, with 74 deals recorded in 2024 – more than doubling from 33 in 2023. This surge reflects substantial dry pow - der and heightened interest in sectors such as technology and renewable energy. The leisure sector also experienced a notable upswing, with deal activity nearly doubling com - pared to 2023, driven primarily by heightened investment in the hotel and pub sectors. Despite global headwinds, Ireland’s M&A mar - ket outperformed broader European trends, rein - forcing its appeal to both domestic and inter - national investors. Looking ahead, a stabilising interest rate environment and Ireland’s strong economic performance may support continued deal activity. However, potential policy shifts and new regulations could shape market dynamics in the coming year. Meanwhile, the Irish public M&A market has been impacted by the trend of high-profile companies opting to delist from the Irish stock exchange in favour of larger overseas markets. Notable departures in recent years include CRH, DCC, Smurfit Kappa and Flutter, leading to reduced public M&A activity.
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