Goldman Sachs leads construction M&A deal value for 2025

Goldman Sachs was the leading financial adviser by deal value for construction sector mergers and acquisitions (M&A) in 2025, according to GlobalData’s latest league table.

GlobalData’s Financial Deals Database shows Goldman Sachs advised on deals worth $43.3bn during the year.

Bank of America took second place by value after advising on $41.9bn of construction M&A deals, the database shows.

JPMorgan ranked third by value with $35.5bn, followed by Morgan Stanley on $28.3bn and Mizuho Financial Group on $24.4bn.

JPMorgan ranked first by volume with 19 transactions. Bank of America followed with 16 deals. Goldman Sachs advised on 15 deals, matching Morgan Stanley and Houlihan Lokey, which also recorded 15 each.

GlobalData lead analyst Aurojyoti Bose said: “Both JPMorgan and Goldman Sachs experienced close to a three-fold increase in the total volume and value of deals advised by them in 2025 compared to the previous year, respectively.

“Resultantly, the firms witnessed improvement in their rankings. While Goldman Sachs moved from sixth by value in 2024 to top the chart by this metric in 2025, JPMorgan’s ranking by volume jumped from 22nd to the top position.

“JPMorgan also held the third position by value in 2025, while Goldman Sachs occupied the third position by volume.”

GlobalData’s league tables are based on the real-time tracking of thousands of company websites, advisory firm websites and other reliable sources available in the secondary domain. A dedicated team of analysts monitors all these sources to gather in-depth details for each deal, including adviser names.

To ensure further robustness to the data, the company also seeks submissions of deals from leading advisers.

“Goldman Sachs leads construction M&A deal value for 2025” was originally created and published by World Construction Network, a GlobalData owned brand.

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