The Current State of M&A Advisory Fees
In partnership with DEALCIRCLE, the DACH edition of Firmex’s 8th annual M&A Fee Guide 2024-2025 uses survey data and industry insights to give a region-specific overview of M&A fees for sell-side engagements in the middle market.
This guide highlights key trends and observations on fees in the middle market using data gathered from a survey of 202 M&A advisors from Germany, Austria, and Switzerland. The statistics are accompanied by insightful anecdotes from respondents and expert commentary.
What Middle-Market Advisors Need to Know
By reading this guide, M&A advisors and business owners will gain valuable insights from professionals in Germany, Austria, and Switzerland on fee structures, client relationships, and strategies for 2025.
Key Highlights from the DACH M&A Fee Guide 2024-2025
- Despite rising costs, middle-market merger advisors in the DACH region found it harder to raise fee levels in 2024 than in 2023.
- Only 37% of firms said they raised at least one type of fee last year, compared to 60% the prior year.
- More than half of all firms surveyed grew their revenue last year.
- Profitability levels remained roughly the same as last year, with about one-third reporting increases.
- Average engagement fee levels – both monthly and one-time – increased in 2024.
- The average success fee fell significantly, especially for smaller deals.
- Fewer firms agreed to deduct work fees from success fees in 2024 than in 2023, but about the same agreed to delay fee payments when the seller is paid over time.