Global dealmakers 2022: M&A market update

8 March, 2022

A year for the record books as deals hit highest value in over a decade.

As the global economy continues to recover into the third year of the COVID-19 pandemic, the market for M&A is maintaining its upward momentum, with no signs of slowing in 2022.

Baker Tilly’s annual M&A market update, produced in conjunction with M&A intelligence firm, Mergermarket, revealed a remarkable 77 percent increase in the annual global cross-border deal value in 2021, despite dealmakers facing continual macro uncertainties throughout the year.

More than half of the respondents (53 percent) in our annual outlook said mid-market deals would drive global M&A in the year ahead – and 2021’s totals are rapidly turning this prediction into a reality.

Mid-market deals accounted for 31% of global transactions in 2021, and with dealmakers’ sights set on mid-cap deals to fast-track growth, this figure is likely to maintain its upward climb.

Key highlights include:

  • Global M&A value in 2021: US5.9 trillion
  • Global M&A volume in 2021: 34,128 deals
  • 77% increase in annual global cross-border deal value
  • 5% increase in annual global cross-border deal volume
  • 6% increase in mid-market deals in 2021 compared to 2020
  • North America top geography by M&A deal value in 2021
  • Asia Pacific top geography by M&A deal volume in 2021
  • Tech M&A accounted for 33% of deal value and 36% of deal volume in 2021
  • 69% increase in mega deals in 2021

The full report drills down into the details of last year’s M&A markets and explores whether 2022 has what it takes to match one of the biggest years on record.

Baker Tilly Corporate Finance Lead Michael Sonego says COVID concerns have now been outpaced by other concerns:

“While many deal discussions are still couched in terms of the current COVID challenges, other key macro issues, from climate change to the rise of cryptocurrencies, to the pace of digital transformation have their own centres of gravity. Dealmakers are now looking at how these intersect, when assessing targets that are going to deliver value and spur growth in the latter half of this decade.”

Access all the insights
Meet the expert
Michael Sonego
Partner
Pitcher Partners, Australia

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