Romania's M&A Market Surges to $4.1bn in H1 2025

In the first half of 2025, Romania's mergers and acquisitions (M&A) market saw a significant upswing, surging by 45% to reach a total estimated value of $4.1 billion, compared to the same period in 2024. This increase was driven by strategic transactions of considerable value across the market, with notable activity in the healthcare and technology sectors—each demonstrating strong resilience amidst global economic challenges and local political climates. However, transparency in deal values remained limited, with 73% of transactions undisclosed, exceeding the historical average of 66% since 2018. EY Romania figures, reported by Ziarul Financiar, highlighted a 185% increase in disclosed transaction values to $2.8 billion. The market saw 139 transactions, marking a 9% increase from the previous year's 127 deals, showcasing the second-highest half-year volume recorded. Strategic investors led 87% of the deals, albeit a decline from 93% the previous year, with private equity's role growing to 9%, contributing $621 million. Key transactions included CVC Capital Partners' acquisition of Regina Maria's network for approximately $1.4 billion and a 50% stake in Therme Horizon for $575 million. Additionally, CTP's acquisition of P3 Groups' operations for $280 million highlights the diverse sector involvement. The real estate, hospitality, construction, and manufacturing sectors remained highly active. Romania maintained its position as a net capital recipient with foreign investments outweighing divestments.