Romania is the most dynamic M&A marketMergers and Acquisitions – M&A) in Central and Eastern Europe, with a growth rate of 9%in the number of transactions in 2025, more than double the region's 4%, according to Mergermarket data Deloitte Romania analysis. Hungary and the Czech Republic rank second and third respectively (8ch), while the market in the region's largest country, Poland, has stagnated.
In terms of share in the total number of transactions in the region, the local M&A market is the only one that has grown steadily over the last five years, from 13% in 2021 to 18% of the total volume in 2025. Romania thus consolidates its second place among the most active M&A markets in Central and Eastern Europe and, in addition, narrows the gap with the market leader, Poland, whose share has fallen to 39% in 2025 (from 41% in 2024).
From the perspective of the regions investors active in Central and Eastern Europe in 2025 come from, Romania follows the regional trend, with a market dominated by local investors, but their share (44%) is the smallest in the region (Hungary – 66%, Czech Republic – 53%, Poland – 52%), according to an analysis by Deloitte Romania based on Mergermarket data.
Regarding transactions in Romania with a estimated or communicated value of over 5 million euros, Deloitte Romania's analysis shows that their number was 130 in 2025, and the total market value was 5.5-5.9 billion euros. Excluding mega-deals (over 500 million euros), the average transaction value was 37 million euros in 2025, compared to 34 million euros the previous year.
„Romania's steadily increasing share of the M&A market in the region confirms our country's attractiveness for both strategic investors and investment funds. We are seeing an increasingly competitive market where investors find solid projects and sectors with impressive growth and returns. We expect Romania to consolidate its position as a dynamic and attractive market, and for Romanian investors to remain an important pillar of the sector's market in 2026. It is also worth emphasizing that local private equity and venture capital funds, which attracted a record sum of over 250 million euros in 2024, continued their maturation in 2025 and are expected to become increasingly strong and attractive partners for companies looking to reach the next level of development and efficiency.”, he/she/it statedRadu Dumitrescu, Advisory Coordinating Partner, Deloitte Romania.
Strategic investors dominated the market in 2025 as well, with their share increasing to 92%of the total number of transactions, up from 89%the previous year, according to an analysis by Deloitte regarding transactions over 5 million euros. Regarding the country of origin, Romania has the largest share both in terms of number of transactions (31%) and transaction value (21%).
The sector with the most transactions in 2025 in Romania remains real estate and construction (19%), followed by industrial products and services (17%), energy (14%), consumer products (10%), and technology (8%). From a value perspective, the medical sector leads, with 22%of the total market. The energy sector recorded a decrease in value share (to 19%, from 34%in 2024), followed by industrial products and services (15%), tourism and hospitality (11% ), and consumer products (8% ).
The share of transactions over 5 million euros with unstated value increased in 2025 to 73% (from 64% in 2024), marking the highest it has been in five years. Regarding segmentation by value range, the local market remains dominated by transactions valued between 5 and 20 million euros (76 out of the 130 transactions analyzed).
Deloitte Romania coordinates a multidisciplinary M&A practice, with a holistic approach that includes business lines such as Corporate Finance, Due Diligence, Post-Merger Integration, Tax Consulting, and Legal Consulting. Thus, Deloitte's teams of professionals can cover all relevant aspects of a transaction.