The market situation remained challenging throughout 2023, affecting both the global and Finnish M&A market activity. M&A transaction volumes in Finland reached historically low levels, with the market slowdown evident across all sectors.
Despite the challenges encountered in 2023, there are clear signals pointing towards an upswing in 2024. As a result, it is reasonable to expect an increase in M&A activity levels in Finland. Several sectors of the global market have already displayed signs of recovery, suggesting that a similar trend can be expected in Finland.
In addition, private equity investors have a record amount of dry powder available for future deals, which can contribute to the potential market shift in 2024. There are many companies waiting for the IPO window to open again, and as a reason an increase in IPO activity can be expected in the second half of 2024.
Highlights:
- During 2023, the global market has experienced a significant downturn in M&A transaction values, whereas transaction volumes remained relatively steady, indicating that the market was driven by smaller deals.
- The decline in Finnish transaction volumes can be recognised especially in cross-border deals and in the industrial and professional services sectors.
- In 2023, IPO activity in Finland witnessed a notable slowdown, with only technical listings and a single list transfer taking place.
- The upward trend of strategic reviews and divestments continued in Finland during 2023, as companies actively assessed their optimal structure and shifted more focus on their core operations.
Contact us
Sari Elonheimo
Partner, Capital Markets and Accounting Advisory Services, PwC Finland
Tel: +358 (0)20 787 7289
