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Finnish M&A market update

February 2021

Dash for dealmaking

Finnish M&A market update Q4 2020

  • Q4 2020 deal activity has been unprecedented, not just by the sheer volume but also the pace with which they have come about in the current climate.
  • Nordics continued their explosive growth in Q4, far outpacing levels since 2016. Meanwhile, European levels normalized to Q3 levels, while still lagging prior years.
  • IT sector was again the most dominant sector in terms of deal volume and YoY growth across both Europe and Nordics. However, other sectors that lagged throughout most of 2020 showed renewed interest.
  • Sweden and Norway led the Nordics in deal activity. Assets associated to deal targets have been lower in Finland relative to Nordic peers. Industrial sector the main driver in Finland.
  • Deal activity in Finland was balanced between domestic and cross-border deals, with inbound cross-border activity picking-up sharply.
  • Most sectors have regained their losses from Q2 troughs. Nordic valuations continue to be at a premium relative to December 2019 and European levels.
  • Market volatility subsided significantly in Q4 due to macro effects of multiple vaccine approvals and US elections.
  • We expect to see the boom in M&A continuing, with a rush for IPO and many significant carve outs/spin offs from corporates.

Download Finnish M&A market update Q4 2020

 

Quarterly deal volume and YoY growth in the Nordics by country Q3 2019 and Q3 2020

Source: S&P, PwC Analysis

Contact us

Marko Koski

Marko Koski

Partner, Transaction Services, PwC Finland

Tel: +358 (0)20 787 8745

Ilkka Simula

Ilkka Simula

Partner, Deals Strategy, PwC Finland

Tel: +358 (0)20 787 8522

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