Baker Tilly International has continued its strong performance in global mergers and acquisitions (M&A), ranking 7th globally by deal count in the first quarter of 2026 in the latest LSEG (formerly Refinitiv) benchmarking league tables in the mid-market segment.
The network also ranked 5th globally in small-cap M&A, underlining its continued strength in supporting mid-market and small-cap transactions worldwide.
Regionally, the network ranked among the top 10 for mid-market and small-cap M&A transactions within Benelux*, Canada, China, Eastern Europe, Europe*, Hochinma (Hong Kong, China, India and Malaysia), Hong Kong and Spain.
Commenting on the latest rankings, Harsh Maheshwari, global advisory services leader at Baker Tilly International, said: “This result reflects the strong momentum carried through from 2025 and comes at a time when the global M&A landscape remains highly complex and fast-moving.
“While challenges persist, we continue to see buyers actively pursue growth opportunities, prioritising strategic fit over volume.
“In an environment shaped by rapid global change, the ability to combine international reach with deep local expertise is increasingly critical. Baker Tilly’s global network is well placed to help clients navigate complexity and seize emerging opportunities.”
*Ranking within small-cap only
Worldwide mid-market M&A ranking for 2026 Q1
| Rank | Financial advisor | Deal count |
| 1 | PwC | 112 |
| 2 | Houlihan Lokey | 103 |
| 3 | K3 Capital Group Ltd | 68 |
| 4 | JP Morgan | 59 |
| 5 | Rothschild & Co | 59 |
| 6 | M&A Capital Partners | 57 |
| 7 | Baker Tilly International | 55 |
| 8 | Jeffries LLC | 53 |
| 9 | Morgan Stanley | 50 |
| 10 | EY | 49 |
Source: LSEG Deals Intelligence
Worldwide small-cap M&A ranking for 2026 Q1
| Rank | Financial advisor | Deal count |
| 1 | PwC | 103 |
| 2 | Houlihan Lokey | 97 |
| 3 | K3 Capital Group Ltd | 68 |
| 4 | M&A Capital Partners | 56 |
| 5 | Baker Tilly International | 54 |
| 6 | Rothschild & Co | 45 |
| 7 | JP Morgan | 44 |
| 8 | Piper Sandler & Co | 43 |
| 9 | EY | 40 |
| 10 | Jeffries LLC | 40 |
Source: LSEG Deals Intelligence
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