The Current State of M&A Advisory Fees
In partnership with DEALCIRCLE, the European 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 289 M&A advisors across Europe. The statistics are accompanied by insightful anecdotes from respondents.
What Middle-Market Advisors Need to Know
By reading this guide, M&A advisors and business owners will gain valuable insights from European professionals on fee structures, client relationships, and strategies for 2025.
Key Highlights from the European M&A Fee Guide 2024-2025
- Despite rising costs, middle-market merger advisors in Europe found it harder to raise fee levels in 2024 than in 2023.
- Only 39% of firms said they raised at least one type of fee last year, compared to 59% 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.
- More firms agreed to deduct work fees from success fees in 2024 than in 2023, and to delay fee payments when the seller is paid over time.