Business and financial services M&A update: Q2 2025

Elevated deal activity continues to be seen in asset management, where transactions involving more than $20 billion in assets under management are drawing strong investor interest.¹

Business and financial services trends

  • Business process outsourcing
    The business process outsourcing market is expected to show a steady annual growth rate (CAGR 2025–2030) of 3.39%, resulting in a market volume of $491.15 billion by 2030.2
  • Consulting
    Demand for consulting is rising for blockchain solutions beyond finance, notably in supply chain and health care.3
  • Education and training
    With a strong investment track record and unprecedented levels of funding to deploy, 2025 will see strong appetite and competition from private equity.4
  • Insurance, legal, and risk services
    The insurance sector recorded a total deal value of $30 billion, representing 209 disclosed deals for the six-month period ending May 15, 2025.5
  • Staffing and recruiting
    The global recruitment and staffing market size was valued at approximately $550 billion in 2023, and is projected to reach $920 billion by 2032, with a CAGR of around 6.2% during the forecast period.6

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References

1. RSM, “2025 M&A trends in the financial services sector,” June 20, 2025.
2. Statista, “Business process outsourcing—worldwide,” accessed September 2025.
3. Erwin Harbauer, Hilmar Albers, and Andy Klose, “Management consulting landscape 2025: Trends and challenges in HR,” Vencon Research International, February 12, 2025.
4. Gambit Corporate Finance, “Education & training sector – M&A market outlook 2025,” January 16, 2025.
5. PwC, “US Deals 2025 midyear outlook: Insurance,” June 18, 2025.
6. Raksha Sharma, Recruitment & staffing market, Dataintelo, 2025.

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