IMAP closes 58 M&A transactions worth more than $4 billion in Q1 2026
IMAP advisors closed 58 M&A transactions globally in Q1 2026, with a total value exceeding USD 4 billion, highlighting continued activity in the mid-market despite an increasingly complex and uncertain environment.
Explore key trends shaping global mid-market M&A in Q1 2026, including deal activity, sector dynamics, and regional insights.
A More Selective M&A Environment Emerging
Mid-market M&A activity in Q1 remained active but increasingly disciplined, with successful outcomes driven by preparation, positioning, and execution rather than broad market momentum.
- Buyers remain highly selective
- Processes are taking longer
- Valuation gaps require structured solutions
- Financing conditions are improving, but still cautious
Private equity continues to support activity, while strategic buyers remain engaged across consolidation-driven sectors.
Cross-Border Activity and Core Sectors Continue to Drive Deals
Cross-border transactions accounted for nearly half of IMAP deals in Q1, reinforcing the strength of the global platform.
Activity was concentrated in:
- Industrials
- Consumer
- Services
These sectors continue to benefit from fragmentation, consolidation dynamics, and resilient mid-market demand
Geopolitics and Energy Markets Introduce New Variables
The macro backdrop has shifted meaningfully in early 2026:
- AI-related disruption has driven revaluation in parts of the Software sector
- Escalation in the Middle East has increased energy price volatility and inflationary pressure
- Supply chain and financing conditions remain sensitive to geopolitical developments
Energy markets remain the primary transmission channel into the broader economy, influencing inflation, growth expectations, and market confidence. As a result, the near-term outlook for M&A remains constructive but cautious, with activity dependent on how these external pressures evolve.
Global M&A Perspectives Across Key Markets
The IMAP Q1 2026 report features insights from 17 major markets worldwide. Across regions, a consistent theme emerges: 2026 is shaping up to be a year defined by execution, selectivity, and adaptability in the face of ongoing uncertainty
M&A Outlook for 2026: Navigating Uncertainty in Global M&A
Jurgis V. Oniunas, IMAP Chairman, commented:
“At the start of the year, the outlook for Q1 was highly optimistic, with expectations of slowing inflation, lower interest rates, and improving growth projections. Unfortunately, we live in interesting times. Early in the year, speculation around the disruptive impact of AI on traditional SaaS business models triggered a significant revaluation in parts of the Software sector. More recently, escalation in the Middle East conflict has introduced fresh volatility — pushing oil prices higher, adding upward pressure on inflation, and creating supply-chain uncertainties. While it is too early to tell how these new shocks will eventually affect the global M&A market, we can be sure that our dealmakers around the world are on the ground every day — negotiating, re-evaluating, adjusting positions, and adapting to whatever the environment throws at them to deliver the best outcomes for their clients. They’ve done it for over 50 years, and that’s exactly what they’ll continue to do, no matter the conditions”.
DOWNLOAD THE FULL REPORT INCLUDING IMAP PARTNER M&A PERSPECTIVES & FORECASTS BELOW:
Jurgis V. Oniunas
IMAP Chairman
At the start of the year, the outlook for Q1 was highly optimistic, with expectations of slowing inflation, lower interest rates, and improving growth projections. Unfortunately, we live in interesting times. Early in the year, speculation around the disruptive impact of AI on traditional SaaS business models triggered a significant revaluation in parts of the Software sector. More recently, escalation in the Middle East conflict has introduced fresh volatility – pushing oil prices higher, adding upward pressure on inflation, and creating supply-chain uncertainties. While it is too early to tell how these new shocks will eventually affect the global M&A market, we can be sure that our dealmakers around the world are on the ground every day – negotiating, re-evaluating, adjusting positions, and adapting to whatever the environment throws at them to deliver the best outcomes for their clients. They’ve done it for over 50 years, and that’s exactly what they’ll continue to do, no matter the conditions.