Inbound Activity - M&A Review 2022

• Published date: 09 March 2023
• Subject Matter: Corporate/Commercial Law, M&A/Private Equity, Corporate and Company Law
• Law Firm: William Fry
• Author: Mr Andrew McIntyre

Overseas investors remain committed to Ireland: foreign acquirers conducted 216 transactions in the country in 2022 - one more than in 2021, but the total value of inbound deals fell by almost a third to '12.5bn. All but three of the 20 largest deals of the year were inbound cross-border transactions.

Interest in Irish business is truly global. Close to home, the country represents an obvious opportunity for UK acquirers, accounting for 72 deals last year, more than any other country. But buyers also came from across the Atlantic as well as across the Irish channel, with US acquirers pursuing 60 transactions. In value terms, Japanese buyers led the way, driving '7bn worth of M&A deals, with the US in second place, with '2.2bn.

This international focus partly reflects Ireland's strengths - a good selection of high-quality companies spread across multiple sectors, a highly educated and talented workforce, and a well- performing economy with strong public finances.

The stable political backdrop in the country is also supportive; the appointment of Leo Varadkar as Prime Minister in December, replacing Miche'l Martin, was a well-choreographed move by the coalition government. On policy, it remains welcoming...