Romania’s M&A deals hit $6.6 billion in 2024
Romania had a mixed year in 2024 in the mergers and acquisitions (M&A) market, as revealed by a study from EY. While the deal volume increased compared to the previous year, the deal value decreased by approximately $350 million. In total, there were 265 transactions with an estimated value of $6.6 billion in 2024, marking a 10.0% rise in deal count from the previous year but a 5.9% decrease in overall value.
Strategic investors dominated the Romanian M&A market in 2024, accounting for 91% of transaction volume – the highest share in six years. This is in contrast to Western markets, where financial sponsors like private equity funds typically play a more significant role in deal closures.
The standout transactions in Romania in 2024 included the sale of a 629 MW renewable energy portfolio by Evryo Group to Public Power Corporation (PPC) for $768 million. Additionally, Banca Transilvania acquired Hungary-based OTP Bank’s operations in Romania for $375 million, making it the second-largest transaction of the year.
By sector, real estate, hospitality, and construction were the most active sectors in terms of deal volume, with 49 transactions representing 18% of the total number of deals. The energy and utilities sector saw a notable 52% year-on-year growth in deals, driven largely by a surge in renewable energy transactions. This growth underscores Romania’s growing appeal as an investment destination for renewable energy, buoyed by its natural resources and alignment with EU policy goals.
Advanced manufacturing and mobility, along with technology, media, and telecommunications, also saw significant activity in the M&A market in Romania in 2024. The average size of financial transactions in the country returned to 2021 levels, at $42 million.
Looking ahead to 2025, Iulia Bratu, a partner at EY in Romania, remains optimistic about the market despite potential short-term volatility. She emphasized that Romania’s attractive market fundamentals will continue to drive M&A activity in the long run. Bain & Company also predicts a positive outlook for the global M&A market in 2025, with expectations that deal value will surpass the $3.5 trillion recorded in 2024.
Overall, Romania’s M&A market in 2024 showcased resilience and growth across various sectors, positioning the country as a prime destination for investment and dealmaking activity. With favorable market conditions and a robust pipeline of opportunities, Romania remains an attractive prospect for investors and companies looking to engage in strategic transactions.
