According to a recent Experian report, the acquisition of Phoenix Energy this year ranks as the third-largest transaction in Northern Ireland's corporate history.

Citing "a return to big ticket M&A" in the second quarter of 2024, the global information services firm reports disclosable deal value in Northern Ireland to have reached almost £900 million in the first half of this year – boosted by the £760m Phoenix Energy transaction.

Experian's quarterly UK and ROI 'M&A Review' provides insights into regional mergers and acquisition activity, highlighting the most active local legal and financial advisers.

In the first half of 2024, corporate law firm A&L Goodbody (ALG) played a key role in Northern Ireland, advising on over 85 per cent of the nearly £900 million in recorded deals. ALG was involved in 24 disclosable transactions from January to June.

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In Northern Ireland's largest deal since 2015, ALG advised a consortium comprising Power Assets Holdings, CK Infrastructure Holdings and CK Asset Holdings on its acquisition of Phoenix Energy.

David Rowan, Head of Corporate at ALG in Northern Ireland, commented: "Over the past decade ALG has consistently ranked as the lead adviser by value of deals, acting on many of the largest and most complex local and international transactions with the greatest impact on the economic development of Northern Ireland."

Mr Rowan attributed ALG's continued market leading performance in the M&A sector to the expertise and commercial focus of the firm's Corporate practice – led in Northern Ireland by Partners Peter Stafford, Mark Thompson, Mark Stockdale, Sarah Dugdale, John Palmer and David Rowan, and supported by the Belfast office’s wider team of over 130 lawyers and business support professionals.

The Experian report shows that Northern Ireland has outperformed the wider market so far in 2024 with sustained levels of deal activity year on year, alongside a significant increase in transaction value. Corporate bidders remain the primary source of deal activity, accounting for around two-thirds of the overall market, and overwhelmingly target companies in the small to mid-market value range.