Study: Private equity transactions on the rise in first half of 2025

In the first half of 2025, private equity funds completed five acquisitions and five exits in Romania. If add-on acquisitions are taken into account, the total number of transactions registered a 14% increase compared to the same period in 2024, according to a study by consultancy compan y Roland Berger.

Healthcare was the most dynamic sector in Romania over this period, recording the highest number of private equity acquisitions, as well as some of the most important exits.

Approximately 60% of the exits made by private equity funds in Romania in the last 2.5 years were to strategic investors.

“Approximately 60% of exit transactions in 2025 targeted companies with annual revenues of over EUR 100 million, such as Regina Maria and Cargus, previously owned by Mid Europa Partners. In contrast, acquisitions were more varied, including both small companies with a turnover of under EUR 10 million and medium-sized companies with a turnover of between EUR 50 and 100 million,” Alina Florean, Senior Manager, Roland Berger Romania, said.

“It is also worth noting that approximately 60% of the exits made by private equity funds in Romania in the last two and a half years were to strategic investors – a testament to the market’s maturation, as well as the solid medium and long-term growth prospects that Romania offers,” Florean added.

In Central and Eastern Europe (CEE), two sectors – IT and Healthcare – generated approximately 60% of all PE transactions in the first half of 2025. Most sectors recorded solid annual growth during this period, with the exception of Consumer Goods & Retail and Business Services & Logistics, which saw a sharp decline across the entire CEE region.

The Adriatic region recorded a record increase in activity (+160% compared to the same period last year). Positive trends were also recorded in the Czech Republic (+38%) and Poland (+4%). In contrast, deal volumes remained constant in Bulgaria and decreased in Hungary and Slovakia.

At the European level, the number of deals completed by private equity funds increased by 10% in the first half of 2025, compared to the same period in 2024. In addition to the advance in CEE (+19%), significant increases were observed in the UK (+33%) and the Nordic countries (+35%), but also in smaller markets such as Greece (+300%), Lithuania (+150%), and Turkey (+125%). France, BeNeLux, Italy, Spain, and Portugal continued to register decreases.

(Photo: Romolo Tavani Dreamstime)