Number of Irish Deals Hits Second Highest Level on Record in 2022

A total of 613 deals with Irish involvement were announced during 2022, a deal count only exceeded once during any year since our records began in 1980 according to Refinitiv Deals Intelligence.

M&A with any Irish involvement reached US$30.5 billion during 2022, down 69% from last year which saw the second highest level of annual M&A activity since our records began in 1980. Deals worth US$9.1 billion were announced during the second half of 2022, a 57% decline compared to the first six months of the year and the lowest half-year total since the start of 2020.

Irish auto technology firm Aptiv agreed to acquire Californian software developer Wind River Systems for US$3.5 billion in January, the largest deal with Irish involvement during 2022, boosting Irish outbound M&A to US$10.7 billion. The largest deal involving an Irish target was a US$1.6 billion bid from Japan’s SMBC Aviation Capital Ltd to buy the commercial aircraft leasing business of Dublin-based Goshawk Aviation Ltd. Just two of the largest ten deals with Irish involvement in 2022 were announced during the second half of the year.

Deals worth US$10.8 billion involved an Irish target, 63% less than the value recorded during 2021. Inbound M&A involving a foreign buyer reached US$9.8 billion, while domestic deals totalled US$955.1 million, a six-year low.

Goldman Sachs took first place in the financial advisor ranking for M&A with any Irish involvement during 2022.

Ian McFarlane, Ireland Country Manager at London Stock Exchange Group, comments: “Despite a global slowdown in M&A dealmaking due to rising interest rates and economic uncertainty, Irish M&A deals saw the second highest level of activity since our records began in 1980. Deals worth $9.1 billion USD were announced during 2022, down 57% on last year’s record year.

It is likely that global M&A dealmaking in 2023 will continue to remain impacted from higher inflation, higher borrowing costs, central bank rate increases, war in Ukraine, economic uncertainty in the US & Europe and an increase in regulatory scrutiny, particularly in the US. Despite these many global challenges, Ireland’s outlook continues to remains positive with a strong economic outlook and continued foreign direct investment in areas such as financial services, life-sciences and technology.”

An overview of mergers and acquisitions activity in Ireland during 2022 can be found here.