Mergers and Acquisitions move €4.8B by July 2025
Portuguese transaction market
Between January and July 2025, the Portuguese transactional market recorded 309 deals, totaling €4.8B. Of these, 42% disclosed their values, according to the latest report from TTR Data.
These figures represent an 18% drop in the number of transactions compared to the same period in 2024, as well as a 41% decrease in capital mobilized.
In July alone, 48 mergers and acquisitions were registered, including both announced and closed deals, with a total value of €691.85M. Sector-wise, Real Estate was the most active in 2025, with 53 transactions, followed by Internet, Software & IT Services with 35 deals.
Cross-Border Activity
In terms of cross-border transactions, Spain and the United States were the top investors in Portugal during the period, accounting for 34 and 21 deals, respectively. Portuguese companies chose Spain and the United States as their main investment destinations, with 21 and 11 transactions, respectively. Foreign acquisitions in the Technology and Internet sectors fell by 29% compared to the same period in 2024. However, acquisitions of Portuguese businesses by U.S. companies rose by 31%.
Private Equity, Venture Capital, and Asset Acquisitions
By July 2025, 43 Private Equity transactions were recorded, representing a 2% decline in deal volume compared to the same period in 2024.
In Venture Capital, 65 investment rounds were completed, totaling €440 million, marking a 32% drop in the number of transactions.
In the Asset Acquisitions segment, 77 deals were registered with a total value of €2.1B, also reflecting a 2% decrease in deal volume.
Deal of the Month
TTR Data highlighted the sale of Matrizevidente by TotalEnergies to MM Capital Partners 2, Mizuho Leasing, and Daiwa Energy & Infrastructure as the standout transaction of July 2025. The deal was valued at €178.50M.
Source: TTR Data Report
These figures represent an 18% drop in the number of transactions compared to the same period in 2024, as well as a 41% decrease in capital mobilized.
In July alone, 48 mergers and acquisitions were registered, including both announced and closed deals, with a total value of €691.85M. Sector-wise, Real Estate was the most active in 2025, with 53 transactions, followed by Internet, Software & IT Services with 35 deals.
Cross-Border Activity
In terms of cross-border transactions, Spain and the United States were the top investors in Portugal during the period, accounting for 34 and 21 deals, respectively. Portuguese companies chose Spain and the United States as their main investment destinations, with 21 and 11 transactions, respectively. Foreign acquisitions in the Technology and Internet sectors fell by 29% compared to the same period in 2024. However, acquisitions of Portuguese businesses by U.S. companies rose by 31%.
Private Equity, Venture Capital, and Asset Acquisitions
By July 2025, 43 Private Equity transactions were recorded, representing a 2% decline in deal volume compared to the same period in 2024.
In Venture Capital, 65 investment rounds were completed, totaling €440 million, marking a 32% drop in the number of transactions.
In the Asset Acquisitions segment, 77 deals were registered with a total value of €2.1B, also reflecting a 2% decrease in deal volume.
Deal of the Month
TTR Data highlighted the sale of Matrizevidente by TotalEnergies to MM Capital Partners 2, Mizuho Leasing, and Daiwa Energy & Infrastructure as the standout transaction of July 2025. The deal was valued at €178.50M.
Source: TTR Data Report