OVERVIEW

Highlights from our February 2026 Valuation Barometer, covering deals and valuation multiples in UK M&A in January 2026. Request the Executive Summary below.

HIGHLIGHTS

As of the publication date, 373 UK M&A deals were announced in February 2026. In addition to the most up-to-date figure at the time of publication, we also report an estimated total for the month, which includes a provision for deals completed during the month but not reported until after the report cut-off date.

DEAL COMMENTARY

The largest deal was Engie’s acquisition of UK Power Networks (UKPN) for £15.8 million.

SPOTLIGHT TRANSACTIONS

Other deals during February included:

• NatWest Group PLC’s acquisition of Evelyn Partners for £2.7 billion.
• GSK’s acquisition of 35Pharma for £703 million.
• Flowserve Corporation’s acquisition of Trillium Flow Technologies (Value Division) for £357 million.

The smaller end of the market witnessed the following deals:

• Admiral Group PLC’s acquisition of Flock for £80 million.
• AG Barr’s acquisition of Fentimans for £38 million.
• Certania’s acquisition of ICA Group for £30.45 million.
• SDI Group PLC’s acquisition of PRP Optoelectronics for £9.35 million.

Request the executive report below. Please contact kathryn.stevenson@marktomarket.io to discuss access to the full list of deals in the MarktoMarket Valuation Barometers.

For the full list of previous Barometers – visit our reports page.