Exit Age Declines to 55 as Nordic Entrepreneurs Sell Earlier

5 March 2026

Entrepreneurs in the Nordics are increasingly choosing to exit at a younger age, with the average age of a selling entrepreneur declining from 59 to 55 over the past decade. This trend is closely linked to age-related factors, which remain the main reason for selling a business. Often combined with the absence of succession within the family or company, these factors account for 35% of transactions.

At the same time, transaction activity increased again in the second half of 2025. These are key findings from the latest edition of the Dealsuite Nordic M&A Monitor, based on input from M&A advisory firms active in the lower and mid-market across Denmark, Finland, Norway, and Sweden.

Uncertainty Becomes Structural, Activity Remains Resilient

After several years of volatility, uncertainty has become the new normal in the M&A market. Dealmakers, particularly in the SME segment, are demonstrating resilience and adaptability in response to this structural shift.

To safeguard transaction progress in an unpredictable environment, advisors are increasingly applying flexible deal structures. According to the Dealsuite M&A Deal Terms Report, the use of deferred payments and other risk-sharing mechanisms has risen significantly, enabling buyers and sellers to bridge valuation gaps and complete transactions.

Deal activity continues to strengthen, building on an increase already observed in the first half of 2025. In H2-2025, 44% of advisors reported an increase in completed transactions, while half indicated they are receiving more M&A mandates, pointing to a healthy pipeline for the coming period.

Shift Toward Larger Transactions

In H2-2025, deal activity in the Nordics shifted toward larger transaction sizes. The €2.5–€5 million segment recorded the strongest growth, increasing by 13 percentage points compared to H1-2025. At the same time, the share of deals below €2.5 million declined markedly. The share of transactions with a deal size above €10 million remained relatively stable at 26%.

Valuations Edge Down to 5.4 EBITDA

The average EBITDA multiple decreased slightly in H2-2025 to 5.4. While valuations moderated, a structural difference between smaller and larger companies remains evident. Research shows that smaller companies face a higher likelihood of not achieving projected cash flows, which is reflected in more conservative pricing compared to larger businesses.

Majority of Deals Completed Within One Year

Despite structural uncertainty, transaction processes remain relatively efficient. 75% of transactions are completed within one year, a notably faster pace compared to other European regions monitored by Dealsuite. 

According to Floyd Plettenberg, CEO of Dealsuite:

“Even in a market where uncertainty has become structural, well-prepared transactions can still progress efficiently. Buyers are thorough in assessing risks, but when sellers are properly prepared and expectations are aligned, deals can move forward within a reasonable timeframe.”

Industrial & Manufacturing to Lead in H1-2026

Looking ahead, sentiment among advisors is clearly positive. 88% expect an increase in transaction activity in the first half of 2026, while only 12% adopt a more cautious outlook. The Industrial & Manufacturing sector is expected to drive transaction growth.

Despite persistent macroeconomic and geopolitical uncertainty, the Nordic M&A market demonstrates stability and resilience. Earlier entrepreneurial exits, adaptive deal structuring and a growing pipeline of assignments indicate that deal activity is expected to remain solid into 2026.