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M&A OUTLOOK 2026
What we're seeing across your markets
2026 is set to be a defining year for global M&A. Across financial services, retail & consumer, technology, and energy & infrastructure, one theme cuts through all sectors: businesses are reshaping rapidly and deploying M&A expeditiously. Corporates are looking closer to home streamlining portfolios, consolidating core strengths, and driving value for shareholders as rising divestments meet ambitious, well-capitalised buyers.
Whilst financial services has seen a particularly busy 12 months for M&A, tech remains the engine-room of premium valuations, with AI excellence, cybersecurity capability and high-growth digital assets commanding intense demand and high multiples. Shifting consumer behaviour, energy security pressures and a renewed appetite for scale are reshaping deal rationales, while private equity and infrastructure funds stretch further for returns and early-stage opportunities.
In this edition of our annual M&A outlook, our experienced team distill the key forces shaping transactions across:
- Financial Services
- Technology
- Retail & Consumer
- Energy & Infrastructure
We are starting to see a resurgence in global M&A, and the pace of change is only accelerating. Whether it’s AI, energy security, fintech consolidation or consumer shifts, the businesses winning are those acting decisively and with clarity of purpose.
What’s driving Financial Services M&A in 2026?
“Large financial institutions are continuing to reshape their businesses to unlock value and sharpen strategic focus on core markets. Driven by regulatory pressures, customer expectations and a competitive landscape, this trend is prompting divestitures, joint ventures, partnerships, and exits from non-core markets.”
Ben Koehne, Head of Financial Services, Partner
What innovation is scaling up Technology M&A in 2026?
“The most attractive acquisition targets are those scaling AI seamlessly across operations and delivering measurable outcomes, while meeting rising expectations for governance, deployment rigour, and repeatable success.”
Damon Rosamond-Lanzetta, Head of Technology Sector, Partner
How will consumer insights shape Retail & Consumer M&A in 2026?
“Staying close to your target consumers, while actively listening to them and understanding their values can lead to sharper acquisitions. This is especially true in food/beverage M&A where consumers are increasingly conscious of what they’re buying.”
Shakeel Dad, Head of Retail & Consumer Sector, Partner
Will scale define Energy & Infrastructure M&A in 2026?
“Scale is no longer just an advantage; it is the decisive factor separating market leaders from the chasing pack. Major funds and corporates command unmatched access to deal flow, talent, and capital, enabling them to execute strategies at a speed, size and scope smaller players cannot replicate.”
Richard Goodfellow, Head of Energy & Infrastructure Sector, Partner
Key contacts
Chris Taylor
Head of UK M&A and Africa
London, UK
Ben Koehne
Partner, Head of Financial Services Sector
London, UK
London, UK
Damon Rosamond-Lanzetta
Partner, Head of Tech Sector
London, UK
London, UK
Shakeel Dad
Head of Retail & Consumer Sector, Partner, Employment
Leeds
Leeds
Richard Goodfellow
Head of IPE and Head of Energy and Utilities (Global)
United Kingdom
United Kingdom