CEE M&A in 2025: Poland Takes the Lead as a Regional Powerhouse

Poland is setting the standard for the entire CEE & SEE region with its leading position in M&A. The country’s stable economic foundations, growing investor confidence, and well-developed regulatory environment make it clear that Poland is setting the direction for transactional activity in the region.

Poland at Full Speed: Driving CEE M&A Growth

Data from 2024 shows that Poland dominated the regional M&A market with 269 transactions worth a total of €5.77 billion. The technology and financial services sectors were the key drivers of investment activity, demonstrating the strategic importance of these areas for the future of the market.

Preliminary results for 2025 are also promising. In the first quarter, 78 transactions were completed, which is 17 fewer than a year earlier. Experts assess the situation as stable, with the market proving resilient to short-term fluctuations.

It is clear that challenges and prospects exist.

However, 2025 will bring a number of challenges, including political changes in many European countries that will impact the investment climate. Macroeconomic uncertainty and geopolitical tensions also remain risk factors. Nevertheless, the region is also benefiting from a trend towards production relocation due to global trade tensions, which is establishing Central and Eastern Europe as an increasingly attractive industrial base.

We have solid foundations and EU support.

The market’s high resilience is confirmed by numerous reports, with transaction activity reaching its highest level since 2018. It is clear what is driving this growth: improving macroeconomic conditions, falling inflation, and expected central bank decisions to further ease monetary policy.

Poland is the clear leader in the region when it comes to economic growth. GDP growth will reach 3.4-3.7% in 2025, driving the region’s recovery. The release of EU funds is vital for stimulating growth, with most going to energy transition and digitalization projects.

Market cooling was evident at the beginning of the year.

However, the beginning of 2025 marked a clear slowdown. The number of transactions in the CEE & SEE region fell by 47% year-on-year to 209 – the lowest since the beginning of 2022. The value of transactions decreased by 44% to EUR 11.7 billion. Poland also recorded a decline, with 78 transactions compared to 95 in the same period of 2024. The most significant transaction was the acquisition of the Turkish fitness chain MAC Group by Benet Systems for over €380 million.

We have innovated and expanded, despite the difficulties.

Despite these declines, Poland remains one of the most active M&A markets in the region. Its strong position is maintained thanks to investments in new technologies, renewable energy sources, and financial services. It is evident that private equity and venture capital funds are assuming an increasingly significant role in fostering the growth of innovative companies.

Poland is fast becoming a regional operating centre for international companies and a starting point for expansion into neighboring markets. Polish companies are seeking investment opportunities abroad. This demonstrates their growing strategic maturity.

Poland is the obvious model for the region.

Poland is undoubtedly a prime investment prospect. It uses EU funds effectively, implements digital and energy transformation programmes efficiently and enjoys institutional stability. It is evident that these strengths influence the strategies of other countries in the region, which are closely monitoring the development of Central and Eastern Europe’s largest economy.

In the next instalments of our series of analyses devoted to the M&A market, we will take a closer look at other markets in the region. We will examine their specific characteristics, challenges and opportunities for further development in a dynamic and increasingly demanding investment environment.