According to Mergermarket, Arthur Cox advised on 39 deals worth €14.4 billion in 2022 while ALG advised on 43 deals worth €9.1 billion.

ALG maintained its top position by deal count for a second consecutive year, while slipping into second place by deal value.

Matheson was the second most prolific adviser by deal count, advising on 41 deals worth €2.3 billion. Arthur Cox was third by deal count.

Richard Grey, head of M&A at ALG, said: “M&A activity in Ireland slowed last year following a bumper year in 2021. This is mainly due to uncertain global market conditions leading to some investors slowing portfolio growth together with the increased cost of debt impacting on the level of highly leveraged transactions.

“However, we still saw healthy levels of private equity activity together with an increased focus on public to private transactions during the year. We increased our market share in the Irish legal M&A sector working on some of Ireland’s biggest deals and using our breadth of experience to provide clients with the highest quality advice.”