4% of all Europe mergers in Ireland

Ireland accounted for more than 4% of all European mergers and acquisitions (M&A) transactions — in value terms — during the first half of this year.

New data from international information services specialist, Experian, shows the volume and value of Irish-focused M&A transactions grew marginally during the first six months of 2012 — with 147 transactions announced, at a combined value of almost €22.2bn.

The comparative figures for the same period last year, were 142 transactions, with a combined value of €21.86bn.

According to Experian’s figures, Ireland represented 2.97% of the total volume of European transactions in the first half of the year, with the country accounting for 4.11% of total continent-wide transaction value.

Noting that Irish M&A activity, since the turn of the year, has followed a similar pattern to that seen throughout last year, Wendy Driver — business development manager at Experian — said: “Deal flow has been driven by consolidation within the manufacturing and professional services sectors and, particularly at the top end, by high levels of foreign investment.”

Sixteen large deals — with transaction values of over €120m — took place, here from Jan to June.

However, while the number of larger scale deals was up by nearly 45.5% on the same period last year, the actual combined value of such transactions was slightly down — by 2.54%, year- on-year, to €19.7bn.

Japanese firm, Sumitomo Corporation’s €5.47bn takeover of Dublin-based RBS Aviation Capital was the largest deal completed here in the first half.

In the mid-market segment — typically deals valued between €12m and €120m — deal volume declined by over 35% to 24; with values also falling by over 38% to €954.2m.

Irish-headquartered medical devices group, Covidien’s takeover of Californian rival, Newport Medical Instruments — for nearly €84m — qualified as the main bit of business in this section.

There were also a lower level of smaller deal conclusions.

Those deals valued at under €12m amounted to just 22 in volume; down from 35 completed in the first half of 2011; but combined value levels stayed broadly unchanged — on a year-on-year basis — at €119.2m.