The independent Northern Ireland firm advised on 25 deals in the six-month period, ahead of A&L Goodbody on 18, according to the latest Experian M&A report.

Tughans advised on 16 deals, followed by Mills Selig on 13, Millar McCall Wylie on 11, Turley Legal on 10, Arthur Cox on five, DWF and Shoosmiths on three, and Eversheds Sutherland on two.

“Despite global macroeconomic headwinds, Northern Ireland’s M&A market in 2025 has shown strong resilience and renewed momentum,” the report states.

“After a brief dip in Q1 — following six consecutive quarters of growth — Q2 rebounded with 66 confirmed deals valued at £696m, marking the second most active quarter so far this decade.

“This lifted H1 deal values to £1.27bn, a 37 per cent increase on the £928m recorded in H1 2024, signalling growing investor confidence.”

It adds: “Northern Ireland also maintained a meaningful presence in the wider UK M&A landscape, contributing approximately four per cent of total UK deal volume and two per cent of overall deal value in H1, reinforcing its importance in the national market.”