Preparing the Exit
Current Trends in M&A: Mid-2025 Snapshot
The global M&A landscape is navigating a nuanced phase in 2025 — one of measured rebound, selective acceleration, and strategic repositioning rather than broad-based boom. Key trends shaping this year’s deal-making environment include the following:
Rebound with caution
While deal values are showing signs of recovery, deal counts in many markets remain compressed. For instance, global deal volumes in Q1 2025 declined ~19 % from Q4 2024, even as deal value rose ~8 % year-on-year. Deloitte+4S&P Global+4Bain+4
Much of this reflects headwinds still present: higher cost of capital, regulatory/antitrust scrutiny, geopolitical and trade uncertainty. McKinsey & Company+2Norton Rose Fulbright+2
For example, one major outlook projects that U.S. corporate deal volumes may remain flat in 2025 after an 18 % gain in 2024. EY
The implication: firms contemplating M&A must build more disciplined deal pipelines — prioritizing quality over quantity and ensuring readiness to move when conditions improve.Large deals, strategic scale, and capability-driven acquisitions
A prominent pattern is that the largest transactions are driving much of value uplift. For example, financial-services mega-deals (> US$5 b) rose materially in H1 2025. PwC+1
Many buyers are using M&A not simply for geographic or incremental growth but to build scale, acquire new capabilities (e.g., digital, AI, cyber) or accelerate business model transformations. Bain+1
Critical takeaway: Deal sponsors and corporates need to focus on integration and value-capture with urgency — cost synergies alone no longer suffice; revenue synergies and capability shifts are front-of-mind. Bain+1- Private equity re-emergence & middle-market momentum
Private equity (PE) firms are increasingly active, backed by large undeployed “dry powder” and motivated by liquidity-exit demands. McKinsey & Company+1
In parallel, the middle-market (transactions below the mega-tier) is showing healthy vibrancy — especially for high-growth sectors such as tech, healthcare and sustainability. SellSide Group
For strategists, this means sourcing opportunities in the middle market (where acquirers may find favourable valuations and less competitive bidding) can deliver outsized returns, provided execution discipline is in place. - Sector-specific accelerators: Tech/AI, healthcare, sustainability & industrials
Technology & digital: M&A in AI, cybersecurity, cloud infrastructure is a major driver of deal activity. SellSide Group+1
Healthcare / Life sciences: Aging demographics, regulatory shifts and new delivery models are pushing M&A in med-tech, biotech and healthcare services. SellSide Group
Energy/Industrials & sustainability: With the energy transition, decarbonisation and infrastructure build-out, deals in the “old economy” are being re-imagined. SellSide Group+1
Consumer and CPG: Companies are divesting non-core or legacy brands and using M&A to accelerate into high-growth niches (wellness, digital, direct-to-consumer). SellSide Group
For business and marketing strategists, the message is clear: M&A is increasingly not just a financial exercise, but a core element of strategic repositioning and business-model renewal.
Implications for Strategy & Marketing Leadership
Prioritize strategic fit over purely financial arbitrage: are you acquiring new capabilities, channel access, IP or brand-reach?
Develop a robust deal pipeline, but build conservative assumptions given lingering macro & regulatory headwinds.
Bring the marketing/brand organization into due diligence and integration planning early — brand equity, customer overlap and go-to-market shifts often drive or destroy value.
Integrate digital and data capabilities, both in target assessment and in integration execution (e.g., data-driven synergies, platform consolidation).
Stay alert to regulatory/regime risk especially in cross-border or high-tech deals: scenario-plan for scrutiny, divestiture risks and changing trade regimes.
Focus on post-close value capture — ensure the integration plan has measurable milestones, customer retention metrics, brand/cultural alignment, and clear go-to-market shifts.
Consider divestitures and portfolio clean-up as part of the broader M&A strategy. Having the right assets to invest in growth may matter more than chasing scale alone.
