The mergers and acquisitions specialist has accelerated its position within the Experian M&A Review Top 10 league tables in both Northern Ireland and Scotland, with its Belfast office securing second place in 2025. The performance reflects sustained appetite for transactions among mid-market businesses, even as wider economic uncertainty continues to weigh on confidence across the corporate sector.

The firm’s client base has continued to broaden, spanning founder and family-owned businesses, management teams executing buy-outs, mid-market private equity houses and their portfolio companies, listed corporates and international acquirers. A growing share of HNH’s mandates now involve cross-border elements, with clients and counterparties domiciled across the UK, Ireland, continental Europe and North America.

Recent deals include the sale of supply chain business Spring Solutions to Diploma plc; the sale of Allwood Recycling Solutions to Papilo, a Palatine Private Equity portfolio company; BGF’s investment in Corriewood Group; and the sale of Solutions Driven to Groupe Adequat.

The mix of listed corporates, UK and European private equity houses, and international strategic buyers points to a deal environment in which sellers continue to attract competitive interest from multiple buyer pools.

Scotland continues to be a major engine of growth, where in March the Edinburgh team recently completed its 14th deal of the financial year with the sale of Glasgow-based manufacturer APH Hydraulic Engineering to Ignite Growth, a London-based private equity house.

Neal Allen, partner and head of deal advisory in Scotland, added: “Whilst there are clear headwinds for most deal markets, the number of deals that we have completed this year is testament to the innovation, resilience and vision of companies in the Scottish market.

“Our role is to help clients navigate increasingly complex (and frequently lengthy) transactions and unlock opportunities, whether that’s through strategic acquisitions, investment or exit planning.

“Though there will be continued uncertainty in the economy for a while yet, we expect to see further deal activity throughout 2026 as there is no shortage of ambitious and entrepreneurial businesses that are seeking to grow in our core markets.”

Wayne Horwood, founder and managing partner of HNH Partners, said: “The past year has been a landmark one for HNH, both in terms of the volume and value of transactions completed and the strength of close relationships we continue to build with our clients.

“Despite economic uncertainty, we continue to see sustained demand from ambitious businesses seeking to grow, invest and execute plans to create enhanced equity value to a wider range of strategic acquirors or investors.

“Our performance reflects not only the resilience of the markets we operate in, but also the expertise and commitment of our team across Belfast and Edinburgh.”

Mr Horwood continued: “What has been particularly encouraging is the breadth of who we are now advising – and who is coming to the table on the other side of our deals.

“We are working with more private equity houses, more listed corporates and more international acquirers than ever before, often on transactions that reach well beyond our home markets. That trend looks set to continue.

“As we look ahead, we are well positioned to build on this momentum, with a strong pipeline of activity and continued investment in our people and capabilities.”

HNH’s Scotland-based team moved into new offices in Edinburgh last year.

Staff numbers have increased by around a third over the past two years, and the company continues to invest in its teams, with eight staff promoted in the past 12 months. This includes William Lawrence, who recently promoted to manager in Edinburgh.