Leading global law firm Herbert Smith Freehills Kramer (HSF Kramer) has reaffirmed its status as Australia’s leading legal adviser for mergers and acquisitions, topping two league tables for the 2025 calendar year.
The firm ranked:
- 1st for deal value and 1st for deal volume (announced) and 1st by deal volume and 2nd by deal value (completed) – Australia/New Zealand (LSEG)
- 1st for deal value and 3rd for deal volume – Australasia (Mergermarket)
HSF Kramer worked across more than 100 transactions with a total deal value of USD38 billion. Among these were some of the largest and most complex public and private M&A transactions in the Australian market over 2025, including:
- Seven West Media on its combination with Southern Cross Media
- Resolution Life on the successful completion of its sale to Nippon Life
- Fonterra on sale of its global dairy consumer business to Lactalis for NZ$4.22 billion
- Ampol on its A$1.1 billion proposed acquisition of EG Australia
- One Investment Management on the proposed A$3.3 billion acquisition of Insignia Financial
- Chemist Warehouse on its AU$34 billion merger with Sigma Healthcare
- Weir on its AU$1.35 billion (£657 million) acquisition of mining software provider, Micromine
- The Carlyle Group Inc. on its acquisition of Waste Services Group
- Adamantem Capital on its acquisition of Mason Stevens
- Healius Limited on the sale of Lumus Imaging to Affinity Equity Partners for AU$965 million
Andrew Rich, Corporate M&A partner, said, “2025 proved to be another busy year for us on the M&A front. We saw significant activity from our clients across almost all sectors. It is pleasing to see all this reflected in our successful league table results.”
Matthew FitzGerald, Managing Partner of HSF Kramer’s Corporate Practice in Australia and Asia, added, “Building from a strong 2025 calendar year of M&A, we are confident that 2026 will be another busy year on the M&A front despite continuing challenges globally. We are grateful to have partnered with many of our clients on strategic M&A transactions in 2025 and look forward to working alongside our clients on many more M&A deals in 2026.”
The league table rankings are the latest reflection of HSF Kramer’s leading status in the Australian market.
The firm was also ranked Band 1 in the Asia-Pacific Corporate/M&A, Australian Corporate/M&A and Capital Markets: Equity categories in the 2026 Chambers and Partners Asia-Pacific Guide. Partners Baden Furphy, Jay Leary, Rodd Levy, Rebecca Maslen-Stannage, and Philippa Stone also received individual Band 1 rankings in the Guide, with Philippa Stone named a Star Individual.
In addition, Michael Ziegelaar, Philippa Stone, and Rebecca Maslen-Stannage ranked in the top 5 of Lawyers Weekly’s inaugural M&A Dealmakers ranking, released in December 2025.
HSF Kramer also remains a leader for in-depth insights into the local market, with its Public M&A Report celebrating its 17th edition in 2025 and its Private M&A Report offering a data-driven view of the Australian private M&A landscape.
