The Firmex M&A Fee Guide 2023-2024 — DACH Edition

The Current State of M&A Advisory Fees

In partnership with DealCircle, the DACH edition uses data from Firmex’s 7th annual M&A Fee Guide 2023-2024 survey and is an  authoritative source on M&A fees for sell-side engagements in the middle market. 

Firmex’s M&A European Fee Guide 2023-2024 Key Highlights

Three out of five DACH-area middle-market merger advisors increased fee levels in 2023, prompted mainly by rising costs and a more difficult dealmaking environment.

Most commonly, they increased recurring engagement fees to mitigate the risk of deals that take a long time to complete or never close.

Middle-market firms were able to increase their fee revenue even as business at larger investment banks continued to fall off.

Profitability largely held up despite rising costs. Those that increased fee levels were two and a half times as likely to grow profits than those that didn’t.