
March’s UK dealmaking favoured scale, specialism, and cross-border conviction again. Unilever’s food combination with McCormick led the month, while Zurich bought Beazley, Rosebank expanded in U.S. industrials, EQT backed Yorkshire Water’s parent, and Savills moved for Eastdil Secured in a month shaped by strategic, selective, higher-conviction buyers across the market.

March showed Europe’s dealmakers still moving through volatility and scrutiny. The month’s biggest stories centred on cross-border ambition, defensive consolidation, and portfolio reshaping, even as oil shocks, inflation fears, and regulatory questions kept boards cautious.

Herbalife is pushing deeper into data-driven personalised nutrition globally now. The company plans to acquire certain Bioniq assets, with Europe and the US first in line for the rollout.

NatWest has agreed to sell Mentor to Empowering People Group. The bank will keep referral access in place while the consultancy moves to a specialist owner in the second half of 2026.

Octopus Energy acquires majority stake in Uplight for US expansion. The acquisition, in partnership with Schneider Electric, will address rising electricity demand due to data centres and electrification.

Deal confidence is rising faster than credit market trust can follow. A stronger M&A outlook now sits alongside strain in private credit, leaving boards to reconcile strategic ambition with harder questions about liquidity, underwriting, lender concentration, covenant quality, and whether the financing supporting a transaction is as durable as the deal thesis itself.

Bureau Veritas acquires UK sustainability firms to enhance services. The acquisitions aim to bolster its sustainable building and infrastructure capabilities in the UK, aligning with its LEAP | 28 Strategy.

Quantum Print enters a new ownership chapter with bank backing. Continuance Capital’s acquisition, supported by Allica Bank, is designed to accelerate growth at the West Midlands packaging manufacturer while keeping jobs and production local.

Scottish salmon producer shifts to employee ownership to secure succession. Marine Products (Scotland) has transferred ownership to an Employee Ownership Trust, placing the Glasgow-based salmon producer in the hands of its staff while ensuring continuity of leadership and long-term independence.

February’s US dealmaking was defined by conviction rather than volume. A $110bn media merger, a $34.5bn cable consolidation, and major transactions in banking, medtech, and payments infrastructure revealed a market pursuing scale — with regulators, financing, and integration now central to execution.