$510 million in deals: Ukraine's M&A market grows in 2024
Following a significant uptick in 2023, activity in the Ukrainian mergers and acquisitions (M&A) market continued to grow in the first half of 2024: the number of deals increased by 4.2% compared to the same period in 2023 (from 24 to 25 deals), according to a report by KPMG in Ukraine.
The total deal value rose by 31% compared to the first half of last year, reaching $510 million.
The average deal value increased from $28 million in the first half of 2023 to $43 million in the first half of 2024. This growth was driven by two large deals exceeding $100 million: a $200 million funding round for IT company Creatio and NJJ Capital's acquisition of telecom company Datagroup-Volia for $120 million.
Foreign investors closed seven M&A deals (compared to nine deals in the first half of 2023) with a total value of $410 million. Most of these deals (six out of seven) were in the innovation and technology sector, continuing trends from 2023.
Deals involving Ukrainian investors accounted for 9% of the total deal value and 40% of the total deal volume in Ukraine. KPMG notes that 2024 saw the lowest level of deal value disclosure in the domestic market since 2013: information on deal value was disclosed for only 20% of transactions (compared to 67% in the first half of 2023).
Among notable domestic market deals was the acquisition of Service Pro, a major distributor of home and hygiene products, by Biosphere Corporation.
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