The Future of Dealmaking in North America: 2025 M&A Trends

North American dealmakers face a rapidly changing environment shaped by economic shifts, financing headwinds and the growing role of AI in mergers and acquisitions. While uncertainty remains, firms are adapting their approaches to take advantage of emerging opportunities.

During the SS&C Intralinks' “Future of Dealmaking, North America” webinar, a panel of senior dealmakers explored opportunities and challenges in M&A, IPOs and private equity.

Moderated by Bill Lane, director, SS&C Intralinks, the panel featured:

• Richard Lichtenstein, Partner, Bain & Company
• Henry Hagenbuch, Senior Managing Director, Lido Advisors
• Eric Ljungquist, Vice President, Ferrero North America

From financing shifts to increasing artificial intelligence (AI) adoption, here are three key insights from the discussion.

1. Financing conditions improve

After a slower 2024, financing constraints are beginning to ease. While interest rates remain a factor, capital availability and strategic deal structuring are enabling transactions to move forward.

Henry Hagenbuch affirmed the improving conditions by adding, “Buyers can get quite creative around catch-up provisions and earn-outs. So, I think you'll see buyers structure deals around market events from that perspective."

• Corporate balance sheets remain healthy, allowing for cash-based deals in some sectors.
• Private equity trends show that firms are adjusting their dealmaking strategies and leveraging more creative financing solutions like earn-outs, seller financing, structured equity and private credit.
• Debt markets are stabilizing, enabling better planning for acquisitions.

2. AI is on the rise

As AI continues to evolve, its role in M&A dealmaking is expanding beyond basic automation tasks. AI is streamlining many aspects of the deal process, from deal sourcing to accelerating due diligence. Firms that strategically integrate AI into their workflows are gaining a competitive advantage by leveraging AI-driven insights to make faster, more informed decisions.

Richard Lichtenstein summarizes AI’s rise by stating, “A lot of funds are experimenting with different ways they can take advantage of AI tools. But where funds want to get in the next year is much more advanced — leveraging AI for deal sourcing, automating due diligence and even optimizing post-merger integration."

• AI-driven due diligence is speeding up document review and risk analysis.
• Firms are using custom AI tools to automate deal sourcing and identify targets more efficiently.
• 2025 M&A trends indicate that AI-powered insights are helping firms optimize post-merger integration (PMI), particularly in data-heavy industries.

3. Opportunities abound despite uncertainties

Despite economic uncertainties, several sectors are poised for strong M&A activity this year. The impact of tariffs, evolving regulations and the demand for innovative technologies are pushing companies to reassess their portfolios and investment strategies. This shift is creating opportunities for M&A activity, particularly in consumer goods, technology and private equity.

Eric Ljungquist noted the opening for unique opportunities: "The risk of tariffs is something that may actually become a driver of M&A.” 

• Consumer products firms are adjusting portfolios to meet evolving health-conscious trends and regulatory shifts.
• Private equity remains active, with a focus on mid-market acquisitions and strategic exits.
• Technology and information services continue to be attractive sectors, especially as AI impacts business models.

Get the complete picture

Want to dive deeper into North America’s 2025 M&A trends? Watch the full webinar for expert insights on the trends, challenges and opportunities shaping dealmaking in 2025.