Finnish M&A market update Q3 2025

Finnish M&A market update Q4 2025

The year of momentum shifts in M&A market and opening IPO window

The downward momentum in the Finnish M&A market held in Q4 2025 following a robust M&A market for the first half of the year. There were fewer completed transactions as smaller domestic M&A activity remained subdued amid global uncertainty and valuation gaps. At the same time, the Finnish economic conditions eased, Finnish stock market performed well, and IPO window opened. During 2025, the Finnish listing market has seen more activity than it did in the previous two years combined.

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Aitor de la Torre

Partner, Deals Value Creation Lead, PwC Finland

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Ilkka Simula

Strategy& Partner, PwC Deals Leader, PwC Finland

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Sari Elonheimo

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Partner, Transaction Services, PwC Finland

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Partner, CEO, PwC Finland

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