From strategy to execution: Q1 insights from the mid-market
Deal activity I Q1 2025
In the first quarter of 2025, our clients completed 59 transactions across a wide variety of industries and geographies, continuing to drive growth, change and strategic progress. Despite ongoing economic complexity, the market remains active — and our clients are taking bold steps to position themselves for the future.
The quarter included 33 sell-side, 14 fundraising, eight buy-side and four other advisory deals. These varied transaction types reflect the diversity of our clients’ business goals: from raising capital for expansion to identifying the right long-term strategic partner or planning generational transitions.
Technology, Media & Telecommunications (TMT) once again led in deal count, with 13 transactions driven by ongoing demand for software, digital infrastructure and data-led services. Construction & Engineering Services (nine deals) and Energy (six deals) also remained strong, aligned with infrastructure investment and the continued shift toward sustainable energy solutions.
Food & Beverage and Business Support Services had seven and eight transactions respectively — these are sectors where clients often cite supply chain efficiency and operational excellence as key priorities. Across sectors, we observed a growing reliance on debt advisory and alternative financing, reflecting tighter credit markets and the increasing role of private capital.
Many of this quarter’s clients are founders and family business owners seeking long-term continuity or planning for succession. Several cross-border transactions also highlight the importance of cultural fit and strategic alignment when selecting international partners — such themes emerge strongly in the client feedback shared below.
As always, our role is to listen carefully, bring the right expertise to the table and support our clients in navigating pivotal moments. In the following sections, we present a selection of deals, industry highlights and testimonials that reflect the real-world impact of our advisory work.
A selection of deals closed in Q1
The level of advice, support and expertise we have received from the Oaklins S&W team throughout this challenging process has been second to none. They have gone far beyond the call of duty to ensure this project achieves a successful outcome. We would have no hesitation in recommending them in the future.ASHFAQ KHAN, FORMER DIRECTOR, AMBALA FOODS
We are grateful to the Oaklins Cavendish team for their help and guidance every step of the way. From the initial consultation and on through myriad regulatory constraints to the final signatures on the deal, they were always engaged, approachable, knowledgeable and never daunted.PETER RAE, CHAIRMAN, QUADRANT GROUP
The acquisition is a powerful validation of our business strategy and the significant opportunities for market and product expansion ahead. I couldn’t be more excited to take this to the next level with a partner such as Clio. This came together brilliantly thanks to Oaklins’ support and guidance. They ran a strong process from start to finish, culminating in a fantastic outcome.BEN NICHOLSON, FOUNDER, SHAREDO
Oaklins’ Canadian team provided invaluable guidance and support throughout the entire transaction process, which resulted in us finding the ideal partner in LSI Industries. Their hands-on approach and commitment to achieving the best outcome ensured a seamless transaction that positions Canada’s Best Store Fixtures for continued growth. We greatly appreciate their professionalism and dedication.BUD MORRIS AND LUISA LOFFREDA, CO-FOUNDERS, CANADA’S BEST STORE FIXTURES
The collaboration with Oaklins was extremely professional. Despite the ambitious timelines, all milestones were achieved on time. We found Oaklins to be a competent and reliable partner — an extension of our team in the preparation of the annual financial report.CHRISTOPH FRANK, DIRECTOR OF GROUP FINANCIAL REPORTING, GATEGROUP
Working with Oaklins Heritage was an exceptional experience. From the very beginning, they guided us through the process with confidence, ensuring every step was smooth and well-planned. Their keen attention to detail and strategic insight made all the difference in achieving an outstanding outcome. We couldn’t have asked for a better partner on this journey.LONNIE MARGOL, CEO AND OWNER, AIRPRO DIAGNOSTICS, LLC
The Oaklins team played a key role in the transaction by highlighting our technical expertise and self-consumption capabilities to strategically selected and highly motivated candidates. Oaklins’ ability to maintain a high level of competition while leading complex negotiations resulted in a well-paced and optimized deal.OLIVIER WEIL, SHAREHOLDER AND CEO, ECOSUN EXPERT
I want to sincerely thank the Oaklins team for your dedication, expertise and hard work in making this transaction possible. This achievement is a testament to the countless hours, strategic guidance and unwavering commitment you have all contributed throughout this process — your professionalism and diligence have been invaluable, and I am deeply grateful for your support. It has been a privilege working with such an exceptional team.AMIR MOTIUK, CEO, IRT TECHNOLOGIES
We are always pleased to observe how our investments and strategic direction promote our portfolio companies to scale their teams and expand their businesses. In the same way, with our support, United Health Insurance Fund Doverie has rightfully grown to become one of the top players in the Bulgarian health insurance market. We are now delighted that, with this transaction, Doverie has found in Generali the strategic partner that can continue the development trajectory of the business and bring it to the next level of growth. We are also thankful to Oaklins’ Bulgarian team for its professionalism and dedication throughout the deal. They were instrumental in managing the relationship between all the stakeholders, the negotiation process and the execution of the transaction.ALEXANDER HRISTOV, CEO, DOVERIE UNITED HOLDING
We first met Oaklins’ team in India during Ganesh Chaturthi, and true to the spirit of Lord Ganesha — the remover of obstacles — they demonstrated their expertise in handling complex, high-stakes deals. Their ability to apply a non-cookie-cutter approach and navigate intricate transactions with precision truly sets them apart as industry-leading dealmakers.RIVI VARGHESE, FOUNDER AND CEO, CUSTOMERXPS SOFTWARE
Oaklins Janes Capital was instrumental in finding the ideal acquiror to support our continued growth. Their expertise, industry knowledge and deep understanding of our company’s unique capabilities and attributes were invaluable.JOHN A. BASSO, CHAIRMAN AND CEO, MCSTARLITE CO.
I couldn’t be happier with the way the Oaklins Heritage team facilitated our recent acquisition. Their professionalism was evident throughout the entire process, making the transaction seamless and efficient. I could not have closed the transaction without their assistance. I highly recommend them to anyone considering a business sale.FRED AKEL, OWNER, SPRAYEZ
Selling a business that you’ve built over decades is a major milestone, and choosing the right advisors is critical. Oaklins Cavendish exceeded our expectations at every stage of the process. Their deep understanding of the healthcare technology sector, strategic guidance and tireless dedication ensured that we achieved an outstanding outcome. They struck a balance between advocating for the best value for our business while providing honest and pragmatic advice when required. Best of all, they are simply a great group of people to work with. Thanks to their expertise, we found the perfect partner in Marlin Private Equity to take EIDO Healthcare forward.OWAIN TUDOR, FOUNDER, EIDO HEALTHCARE
From the moment I founded ABZ in 1993, I recognized that the future of strawberries lay in seed-propagated varieties. Embracing this vision, ABZ Seeds became a pioneer and the undisputed market leader in breeding F1 hybrid ever-bearing strawberries. After more than 30 years as founder and CEO, I knew it was the right time to secure a strategic partner to ensure continuity for ABZ Seeds. With Oaklins’ dedicated support and deep sector expertise, we found a strong and international partner to drive future growth. I am proud that under their ownership ABZ Seeds will continue its legacy of innovation and excellence at Andijk, the Netherlands, guaranteeing the same high-quality products and service that clients have come to trust.GÉ BENTVELSEN, FOUNDER AND CEO, ABZ SEEDS
Oaklins’ team expertly guided us throughout this process, providing invaluable experience and insight. Their ability to balance negotiations with mutual understanding was crucial, and their strategic, clear advice played a key role in securing a successful outcome. Their contributions were essential in achieving a positive result for us.HILDE VOLD-BURGESS, CEO AND PARTNER, ACAPO AS
As a family holding company, we have stood for innovation, sustainability and reliability for decades. These values are the core of our success and have also shaped our decisions for an investor in the M&A process. With the support of Oaklins’ team in Germany, we were able to attract high-caliber international investors for Lehmann Marine and implement the transaction according to our ideas. We are excited and proud to have Sunlight Group as a strategic partner for our next phase of growth, as Sunlight appreciates and shares our values and also pursues a long-term growth strategy. As a mid-market oriented M&A advisor with an experienced team, Oaklins’ German team reliably guided us through all phases of the process and achieved an excellent result for Lehmann Marine.DIRK LEHMANN, FOUNDER AND MANAGING DIRECTOR, LEHMANN MARINE GMBH
