04. April 2025

Dealsuite has published the first edition of the Dealmaker Insights Report for the Nordics. This report is the result of comprehensive research conducted by Dealsuite. It features detailed data concerning the Nordic mid-market (companies with revenues between EUR 1 million and EUR 200 million) and includes valuable insights from Nordic dealmakers. 121 Nordic M&A advisory firms contributed their expertise to this research and among these Copenhagen Corporate Finance.

Moderate level of M&A activity in the Nordics

After a period marked by high interest rates and inflation, 2024 saw the start of an uneven recovery across Europe, although the pace of recovery varied by region. In the first half of the year, most European countries experienced an increase in M&A activity. On average, this activity level remained stable through the second half of the year. M&A advisors in the Nordics reflected on the number of transactions closed in H2-2024 and reported on the level of activity. The results are presented in Figure 1.

 In the second half of 2024, M&A activity in the Nordics continued at a pace similar to the first half. A substantial majority of advisors (71%) reported the activity level as moderate.

Figure 2 offers a view of the diverse landscape of buyer types in M&A transactions. It categorizes the participants into Strategic/Corporate buyers, Financial investors, and Other buyers, which includes scenarios such as Management Buy-Ins (MBI) and Management Buy-Outs (MBO). The percentages shown depict how frequently each type of buyer is involved in deals, providing insight into current trends and shifts in the M&A market.

Strategic/Corporate buyers and Financial investors are almost equally active in the Nordic M&A mid-market, each partici- pating in a significant portion of the transactions. 11% of buyers are involved in Management Buy-Ins (MBIs), Manage- ment Buy-Outs (MBOs), and search funds. Notably, there has been a surge in search funds, driven not only by increasing recognition of their potential and benefits, such as improved expertise, but also by enhanced access to deal flow and crucial funding.

For more insight into the report and conclusions, please contact us at Copenhagen Corporate Finance.