Despite martial law, the business sales market in Ukraine is demonstrating steady recovery and structural renewal. Asset owners are increasingly viewing the sale of a company not as a forced step, but as part of strategic capital management — a way to reinvest, attract a partner, or optimize a business portfolio.
Below are the key trends shaping the business sales market in 2025 — from deal dynamics to investor behavior and sectoral shifts.
1. Growth in the Number of Deals in the SME Segment
After a pause in 2022–2023, the sale of small and medium-sized enterprises accelerated in 2024–2025. The most active deal flow is observed in:
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food and beverage manufacturing;
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logistics, warehousing, and transportation;
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agro-processing;
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B2B services (outsourcing, maintenance, repairs);
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IT and digital marketing.
The sale of companies with revenues of up to $5 million has become attractive to local investors seeking operating businesses with an established customer base, equipment, and staff. The number of transactions involving the sale of 100% of a business or a controlling stake (51–75%) is increasing.
2. Investors Prefer Operating Businesses with Tangible Assets
Foreign funds and private investors who view Ukraine as a market with strong recovery potential are focusing in 2025 on acquiring operating companies with real assets — land plots, real estate, production facilities, and equipment.
The highest demand is seen for:
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manufacturing companies ready for scaling;
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grain elevators, mills, and processing complexes;
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licensed construction companies;
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energy projects (solar, biogas, small hydropower).
Selling asset-backed businesses provides buyers with greater security and the ability to quickly restart or expand operations.
3. Rising Demand for Technology and Innovative Companies
A significant share of new M&A deals in 2025 is concentrated in the technology sector. Following the increased activity of Ukrainian venture funds and the launch of government initiatives (such as the Ukraine Phoenix Tech Fund and USF Startup EDGE), the sale of technology companies has become a defining trend of the year.
Key areas of interest include:
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AI and DeepTech solutions for industry and agriculture;
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GreenTech — waste management, recycling, and energy efficiency technologies;
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DefenseTech — engineering companies operating in the security and defense sector;
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EdTech and HealthTech startups seeking strategic partners.
The valuation of technology M&A transactions is increasing, with the average ticket for the sale of an IT company exceeding $1 million even at early stages of development.
4. Consolidation in Industry and the Agricultural Sector
Industries with high capital intensity are experiencing active consolidation, as larger players acquire smaller businesses to scale operations and optimize logistics.
In particular:
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in agriculture — acquisitions of farming enterprises, grain elevators, and feed mills;
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in construction — purchases of concrete, brick, and metal structure manufacturers;
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in the food industry — consolidation among snack, dairy, and meat producers.
This trend is creating new vertically integrated structures where each company strengthens the overall value chain.
5. Growing Role of Private and Family Investors
Domestic investors are the primary market drivers in 2025.
An increasing number of Ukrainian entrepreneurs with available capital of $300,000–$1 million are investing in the acquisition of companies within their own or adjacent industries.
This represents a new generation of business owners who view the sale of a company not as an endpoint, but as a restart of the business life cycle.
Investment clubs such as ICLUB are also gaining traction, bringing together private investors and providing access to M&A opportunities.
6. Development of M&A Infrastructure and Online Platforms
Professional brokers, investment portals, and advisory firms are playing an increasingly important role in structuring the market.
Platforms such as InVenture have become key tools for selling companies by providing:
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valuation and deal preparation;
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investor-focused marketing;
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document verification;
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negotiation management.
These services help turn business sales in Ukraine into a transparent and predictable process that is understandable for international buyers.
7. Stronger Focus on Transparency and Financial Reporting
Business sale transactions increasingly require audited financial statements, documented confirmation of revenues and expenses, and a clear ownership structure.
This is driven by the requirements of foreign funds and banks financing such acquisitions.
Companies with transparent accounting systems, CRM tools, and management reporting typically achieve valuations that are 20–30% higher at exit.
8. New Demand from Foreign Funds and Strategic Partners
Interest from international investors in Ukrainian assets continues to grow, particularly from:
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EU funds financing infrastructure recovery projects;
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institutional investors from the US and Canada seeking niche businesses;
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investment groups from the Middle East diversifying their portfolios.
Businesses located in regions with strong export potential (Odesa, Lviv, Vinnytsia regions) have the highest likelihood of attracting such buyers.
9. Sectors with the Highest Expected Deal Activity in 2025–2026
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Agribusiness — acquisitions of companies with irrigation and processing capacity.
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Energy — sales of solar power plants and biogas complexes.
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Real estate — industrial parks, warehouses, and income-generating assets.
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Technology — AI, defense startups, and SaaS solutions.
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Manufacturing — food production, building materials, and packaging.
Conclusion
The business sales market in Ukraine is entering a qualitatively new phase. The key trends are transparency, consolidation, technological advancement, and the growing role of private investors. Foreign partners are returning, while Ukrainian companies are becoming increasingly well-prepared for transactions.
Selling a company today is not an exit from business, but a strategic development tool — an opportunity to consolidate capital, strengthen market positions, and create a new success story.
