Press release

2 Nov 2022

M&A activity in Romania in the first nine months of 2022

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The Romanian mergers and acquisitions (M&A) market recorded 169 transactions (1) in the first nine months of 2022, a 18% increase compared with the same period of 2021. Despite the higher volume of deal making, the estimated value of local M&A activity was lower on a year-on-year basis, having reached USD 4bn (2) vs. USD 5.4bn at September 2021.

On a quarterly basis, deal activity has increased, with volumes up by 3.6% and value by 5.3%. as compared with the same period of 2021. 

Romania continues to be a dominant M&A market at a CEE level and is one of the few that showed growth in volume of transactions compared to 2021. Although we expect the next M&A cycle to be different, the unprecedented amount and mix of available capital have increased investors’ ability to do deals in a volatile environment thus setting a path for M&A to remain active, especially for players eyeing long term growth
Iulia Bratu
Head of Lead Advisory | Strategy and Transactions EY Romania

No deals over USD 100m were announced during the third quarter. The largest disclosed deal was the acquisition of Mintia Thermal Power Plant by Mass Group for a reported USD 90.7m, followed by the acquisition of renewable energy assets in Romania by Enery Power Holding GMbH from Jade Power Trust (USD 71m), while another notable transaction was the sale of a 20% stake in Aqua Carpatica to Pepsi Co. for an undisclosed amount.

Strategic investors continue to be the dominant players of Romania’s M&A market, accounting for 88% of transactions. Domestic transactions registered a 27% advance in 9M 2022 when compared to the same period, counting 84 transactions, while foreign players increased their activity by only 6% (74 transactions) when compared to the same period.

In terms of country of origin, the most active investing countries were the United States (8 deals), followed by Belgium (6 deals), Poland, and Germany (5 deals).

The most active sectors during the first nine months of 2022 were Technology (36 deals), Real estate (29 deals), Healthcare (21 deals), Diversified industrial products (15 deals) and Power & Utilities (13 deals).

 

Note: (1) EY’s M&A database for Romania excludes transactions with stakes acquired of less than 15% (2) includes an estimate of the value of transactions where no data was formerly disclosed by the parties or is not available in third party databases and/or reported by media sources

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EY30 for Romania

In order to mark the anniversary of 30 years of uninterrupted activity in Romania, EY Romania launched its EY: 30 for Romania campaign, which shall unfold throughout 2022. The campaign shall turn the spotlight on projects, figures and occasions that marked Romania’s progress over the last 30 years and shall include collaborative community engagement initiatives alongside EY partners and associates.

 

About EY Romania

EY is one of the world's leading professional services firms with 365,399 employees in more than 700 offices across 150 countries, and revenues of approx. $45,4 billion in the financial year that ended on 30 June 2022. Our network is the most integrated worldwide, and its resources help us provide our clients with services allowing them to take advantage of opportunities anywhere in the world.

With a presence in Romania ever since 1992, EY is the leading company on the market of professional services. Our more than 900 employees in Romania and Moldova provide integrated services in assurance, tax, strategy and transactions, and consulting to clients ranging from multinationals to local companies.

Our offices are based in Bucharest, Cluj-Napoca, Timisoara, Iasi and Chisinau. In 2014, EY Romania joined the only global competition dedicated to entrepreneurship, EY Entrepreneur Of The Year. The winner of the national award represents Romania at the world final taking place every year in June, at Monte Carlo. The title of World Entrepreneur Of The Year is awarded in the world final. For more information, please visit: www.ey.com