When including add-on acquisitions, the total number of transactions increased by 14% compared to the same period in 2024, in line with growth trends in CEE and the wider Europe region.

The healthcare sector recorded the highest number of PE acquisitions and some of the most notable exits. 

Approximately 60% of exits completed by PE funds in Romania over the past two and a half years were to strategic investors, indicating market maturation and robust growth prospects for the country.

"Approximately 60% of exit transactions in 2025 targeted companies with annual revenues exceeding €100 million, such as Regina Maria and Cargus, previously owned by Mid Europa Partners. In contrast, acquisitions were more varied, encompassing both small companies with turnovers under €10 million and medium-sized companies with turnovers between €50 million and €100 million," stated Alina Florean, Senior Manager at Roland Berger Romania.

Historically, the second half of the year has been more active, accounting for approximately 75% of transaction volume in the last two years, added Szabolcs Nemes, Managing Partner of Roland Berger Romania. 

“If this pace continues, 2025 could set a new record in terms of transaction volume, and initial signs from the second half suggest this trend is continuing," said Nemes.  

Across CEE, the Adriatic region experienced a record 160% surge in activity compared to the same period last year, with positive trends also noted in Czechia (+38%) and Poland (+4%). 

At a European level, the total number of PE transactions rose by 10% in H1 2025, with significant increases in the UK (+33%), Nordic countries (+35%), and smaller markets like Greece (+300%), Lithuania (+150%), and Turkey (+125%). 

In CEE, the IT and healthcare sectors together generated around 60% of all PE transactions in H1 2025.