Deal activity in Romania rebounded strongly in H1 2021, at USD1.1bn

Deal activity rebounded strongly in H1 2021, with a total of 69 transactions, reflecting a 19% increase on H1 2020, EY reports.

Despite the higher volume of deal making the estimated value of M&A only increased by 4% to USD1.1bn due mainly to a 12% decline in the average size of deals below USD100m.

The acquisition of Hermes Business Campus, by investment fund Adventum Quantum for USD146m was the largest transaction during the period.

Market commentators estimate Hidroelectrica’s acquisition of the 108 MW Crucea Wind Farm at around USD120m-160m. Strategic investors continue to be the dominant players on the Romanian M&A market, accounting for 94% of transactions.

Although Romania remained an attractive investment destination for foreigners, with inbound deals (31) accounting for 45% of all transactions, domestic deal-making (34 deals) increased by 31% compared to H1 2020.

The most active inbound investors were the United States (6 deals), Germany (3 deals), followed by Hungary, France, Italy and Ireland with 2 deals each.

The most active sectors by deal volume were technology (14 deals), followed by real estate (10), diversified industrial products (10), power and utilities (6) and healthcare (6).

In terms of disclosed deal value, power and utilities attracted the largest share of investment, followed by real estate, banking & capital markets.

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