Hungarian M&A market at historic high

110 transactions were made public in Hungary last year, with a total estimated value of $9 billion. The number of deals practically stagnated compared to the previous year, but their calculated total value set a record with an increase of almost 40 percentage points in the period between 2010 and 2024 examined in EY’s analysis. The outstanding performance is due to numerous so-called mega-deals with a value significantly higher than average.

The most attractive target sector in 2024 was the manufacturing industry, where 14 deals were closed. In the IT sector, which was in second place last year, a total of 11 transactions were announced, which is a significant decrease compared to the 18 transactions announced in 2023. These were followed by the energy and logistics sectors with 8 transactions each.

“The Hungarian M&A market was able to maintain its momentum despite economic and geopolitical challenges. The record-high value growth was accelerated by exceptionally active strategic investors and financial investors returning to the market in increasing numbers,”

– emphasized Dr. Péter Vaszari, Partner in the Strategy and Transaction Advisory area of ​​EY-Parthenon.

The share of transactions directed towards Hungary decreased from the previous 41 percent to 34 percent last year, while the share of domestic transactions shot up spectacularly from 30 percent to 48 percent. The countries investing most actively in the domestic market include Romania, Great Britain, the United States, Sweden and Germany. The number of investments decreased in parallel: while in 2023, investments abroad accounted for 29 percent of all transactions, in 2024 they accounted for only 18 percent. During this period, the Czech Republic and Germany were the two most popular destinations for Hungarian companies.