White Paper
M&A Momentum in Manufacturing: Risk Management Lessons from Travelers’ 2025 Study
White Paper Summary
Manufacturing mergers and acquisitions (M&A) are entering 2025 with renewed energy. Although overall volume slowed slightly last year, the sector still logged more than $200 billion in transactions across 1,667 deals, according to the 2025 M&A Study: A Travelers Special Report. Even more striking: the median deal value jumped 70 percent year over year, marking the first such increase in five years. Larger, higher-stakes deals are becoming the new norm — and with them come greater challenges for integration and risk management.
The Travelers study, produced in partnership with PitchBook, analyzed five years of transaction data and surveyed more than 150 manufacturing executives with risk-related responsibilities. The findings underscore a dual reality: while deal activity positions manufacturers for growth and innovation, it also exposes them to new risks across culture, workforce, technology, and supply chains.
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