Baltic Private M&A Deal Points Study 2026

Baltic Private M&A Deal Points Study 2026

The study analyses 198 private M&A transactions completed during the two-year period April 2024–March 2026.

September 24, 2026

Estonia
Estonia
Estonia
The survey analysed 198 private M&A transactions completed during the period April 2024-March 2026. This was a time marked by continuing turbulence due to macroeconomic and geopolitical issues  with an increasing number of armed conflicts in addition to the war in Ukraine adding to the uncertainty. Despite this, the Baltic M&A market remained resilient.
During 2024–2026, the most active economic sector in the Baltic M&A market was technology. The share of energy and utilities M&A transactions dropped significantly, likely reflecting reduced activity amid considerable political uncertainty about the future. 

Exits by individuals and family-controlled sellers have been trending upwards, now accounting for an equal share of the market alongside strategic sellers, indicating an increasing generational shift in the Baltics.

The value of the median Baltic M&A transaction has remained at the same level as in previous periods, with over half of the transactions under EUR 10 million, although the share of mega deals (EUR 50-100 million and above EUR 100 million) is again showing an upward trend.

Buyer-friendly protections continued to strengthen in 2024–2026, with specific indemnities and security for the Seller's obligations increasingly requested, and full-disclosure warranties now standard in around two-thirds of transactions.

R&W insurance is still rarely used.

States continue to expand the scope of FDI controls, requiring approval for a growing share of transactions, and transaction processes have lengthened to an average of 6–12 months.
The materials on the Eversheds Sutherland website are for general information purposes only and do not constitute legal advice. While reasonable care is taken to ensure accuracy, the materials may not reflect the most current legal developments. Eversheds Sutherland disclaims liability for actions taken based on the materials. Always consult a qualified lawyer for specific legal matters. To view the full disclaimer, see our Terms and Conditions or Disclaimer section in the footer. Eversheds Sutherland is a provider of legal and other services operating through various separate and distinct legal entities. For further information about these entities and Eversheds Sutherlands' structure please see the Legal Notice page of this website.

Services

Key contacts

maivi.ots@eversheds-sutherland.ee

Maivi Ots

Partner

Tallinn, Estonia

Latest Insights

Latest News

Latest Events

  • hybrid
  • virtual | November 17, 2026
  • in-person | November 18, 2026
  • virtual | November 24, 2026
zero waste new pic

legal updates

November 12, 2026

COP31: Leaders’ Summit | Zero Waste - The business case for zero waste

EV charging COP31

legal updates

November 11, 2026

COP31: Energy and Transport – Electrification takes center stage in Antalya

tracker image - Algorithmic

legal updates

November 11, 2026

Algorithmic Management of Workforces: Is your business a “platform” without...

atrium interior architecture curved levels modern office building design

legal updates

November 10, 2026

Technology Law Shorts - November 2026

© Eversheds Sutherland 2026. All rights reserved. Eversheds Sutherland is a provider of legal and other services operating through various separate and distinct legal entities. For further information about these entities and Eversheds Sutherlands' structure please see the Legal Notice page of this website.

Eversheds Sutherland is the name and brand under which the members of Eversheds Sutherland Limited (Eversheds Sutherland (International) LLP and Eversheds Sutherland (US) LLP) and their respective controlled, managed and affiliated firms and the members of Eversheds Sutherland (Europe) Limited (each an "Eversheds Sutherland Entity" and together the "Eversheds Sutherland Entities") provide legal or other services to clients around the world. Eversheds Sutherland Entities are constituted and regulated in accordance with relevant local regulatory and legal requirements and operate in accordance with their locally registered names. The use of the name Eversheds Sutherland, is for description purposes only and does not imply that the Eversheds Sutherland Entities are in a partnership or are part of a global LLP. The responsibility for the provision of services to the client is defined in the terms of engagement between the instructed firm and the client. For further information about these Eversheds Sutherland Entities and Eversheds Sutherlands’ structure please see the Legal Notices page of this website.