The firm advised on 69 transactions during the year, according to the latest Experian MarketIQ report, ahead of A&L Goodbody on 56 and Carson McDowell on 51.

Mills Selig advised on 50 transactions, followed by Millar McCall Wylie on 25, Davidson McDonnell Solicitors on 23, Arthur Cox and Turley Legal each on 19, Shoosmiths on 13 and DWF on 11.

In total, there were 337 transactions worth £3.1 billion in Northern Ireland in 2025 — a slight decrease in volume from 348 transactions in 2024, but a sharp increase of £1.2 billion in value.

“Overall, the 2025 M&A landscape underscores a market that remains active and increasingly value-driven, with robust performance at the upper end and continued stability in the midmarket,” the Experian report states.

Tughans managing partner Patrick Brown said: “Maintaining this position for an 11th consecutive year reflects the continued trust our clients place in us to advise on their most important strategic transactions and projects.

“It is also a testament to the expertise and quality of our teams, who are consistently engaged on complex, high value mandates.”

James Donnelly, head of the corporate practice at Tughans, added: “It has been another incredibly active year for our transactional teams, with a broad range of mandates across different sectors and a noticeable increase in larger value transactions.

“The volume and variety of instructions reflect the continued strength and maturity of Northern Ireland’s deal market.”

John McGuckian, a fellow corporate partner, said: “Private equity backed acquisitions remain a key feature of the deal market with Northern Irish companies and management teams continuing to impress funds in London, Dublin, the US and beyond.”