Seasonal M&A Review / Summer 2026

Seasonal M&A Review / Summer 2026

Welcome to Alinea's latest quarterly M&A update / Q2 2026

In the dynamic world of M&A, staying ahead creates possibilities. This quarterly review, developed with data from our partner MarktoMarket, transforms data into actionable insights that map today's deal landscape. Our analysis uncovers market dynamics that can help release your ambitions, whether selling, buying, or growing.

Volumes & Trends

• Deal activity recorded 1,341 transactions in Q1 2026 - as with every fresh quarter, this figure typically revises upward as further deals are filed

• Deals up to £50m continue to drive market activity (65% of Q1 deals), reflecting sustained mid-market strength

Key Market Features

• Trade buyers represented 71% of acquisitions in Q1 2026, retaining their position as the dominant buyer type

• UK buyers dominate with 81% of deal activity, while EU buyer participation grew to 9% - its highest share of the last four quarters

• TMT (10.6x) and Consumer (6.8x) sectors demonstrate valuation resilience with strong EBITDA multiples

Whether you're considering selling, buying, or growing, this quarter's data reveals clear opportunities across sectors and deal sizes. Our analysis provides the insights needed to navigate your next strategic move with confidence.

UK M&A Deal & Stats Tracker

Last 4 reported quarters · Q2 2025 – Q1 2026

Reporting Quarter

All Q2-25 Q3-25 Q4-25 Q1-26

1,341

Deals this quarter

▼ 13.6% vs Q4-25

5,777

Total deals, last 4 quarters

Q2-25 – Q1-26

28.6%

PE & PE-backed share

of this quarter's deals

8.1x

Blended EV/EBITDA (LTM)

Sub-£100m EV, weighted by sector sample

+5.9%

Property deal volume, QoQ

The only sector growing quarter-on-quarter while the wider market fell 13.6% — now 15.1% of all deals, up from 12.2% in Q2-25

80.5%

UK buyers, Q1-26

Domestic strategics remain the dominant acquirer group every quarter; EU buyer share has crept up from 6.7% to 9.5% since Q2-25

10.6x

TMT EV/EBITDA, LTM

Highest multiple of any sector tracked, ahead of Healthcare (12.5x on a thin sample) on a much larger deal base of 27

Deal Volume by Quarter

Total UK technology & cross-sector M&A completions

Sector Mix by Quarter

Deal count by sector, stacked · estimated where sector was undisclosed

Buyer Geography — Q1-26

Trade buyers only, by acquirer origin

Deal Size — Q1-26

Enterprise value bands, disclosed deals

EV/EBITDA Multiples by Sector

LTM to Apr-26 · UK targets, sub-£100m EV · sample size shown

Buyer Type by Quarter

Trade vs. private equity & PE-backed acquirers

Source: Mark to Market quarterly data (as reported Apr-26) and Alinea analysis · UK targets, sub-£100m EV · Note: the most recent quarter is typically undercounted at time of reporting and revised upward as deals are filed

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