M&A Review - Sector Watch

With only a handful of very large deals in H1 2023, the sectors in which these took place were inevitably the most dominant, at least by value.

The pharmaceuticals, medical and biotech (PMB) sector accounted for 28% of Irish M&A activity by value in the first half of the year, versus just 2% during the same period last year. That was not entirely down to the inclusion of Chiesi Farmaceutici's acquisition of Irish head-quartered Amryt Pharma, but that deal was by far the largest of the dozen PMB transactions seen in the first half of the year.

Industrials & Chemicals, meanwhile, was the next most active sector by value, accounting for 18% of Irish M&A activity in the first half of the year, up from just 1% during the same period last year. In part, this reflects the sizeable Enva Ireland transaction, but Industrials & Chemicals was also the fourth most active sector by volume, with 18 deals announced in H1 2023.