Dealmakers
2025 pulse check
Mining dominated Australia’s mid-market in 2025 as soaring commodity prices and unprecedented cross-border interest drove deal values up 14.4% to nearly $21 billion across 307 transactions – the first time the mid-market cracked the 300-deal barrier since 2022.
Mining claims top spot
Energy, mining and utilities deals surged more than 60% to $4.6 billion as gold prices surpassed US$4,500 per ounce and copper hit record highs. The sector completed 78 transactions including Genesis Minerals’ $250 million Laverton Gold Project acquisition. Combined with technology, mining represented over 40% of total transaction volume.
Cross-border deals hit record high
International buyers completed 113 mid-market transactions worth more than $9.3 billion – almost 50% higher than the previous year. Overseas investors expanded beyond traditional mining and technology targets into real estate and transport, attracted by Australia’s safe-haven appeal.
Broad-based growth across sectors
Technology remained resilient while healthcare doubled its deal count. Business services deals doubled in value, and transport sector values grew more than six-fold as easing inflation improved investment confidence. Six of the year’s ten biggest mid-market deals closed between July and December ahead of stricter ACCC notification rules.