Latin American law firms across the largest jurisdictions enjoyed a healthy rise in the number of M&A deals in 2025, according to data from Latin Lawyer’s Deal Tracker.
A total of 1,641 M&A transactions were submitted to Latin Lawyer’s Deal Tracker tool over the 12-month period, up from 1,480 in 2024 and 1,535 in 2023 – marking the highest annual M&A deal count of the past three years. M&A accounted for 32% of the 5,017 deals signed or closed across all practice areas during the year.
For an overview of transactional activity in the region in 2025, click here. To read about the first half of the year, click here.
The largest jurisdictions in the region all recorded an increase in M&A activity between 2024 and 2025. Brazil remained by far the most active jurisdiction, with 736 deals in 2025 – more than four times the volume of any other market in the region. Argentina, Chile, Mexico, Colombia and Peru all posted modest year-on-year gains.
Chile
Elite outfit Carey remained Chile’s busiest firm despite a fall in its deal count, from 36 in 2024 to 20 in 2025. The local offices of Cuatrecasas and Philippi Prietocarrizosa Ferrero DU & Uría tied for second with 15 deals apiece, while DLA Piper (Chile)’s tally dropped from 23 to 13.
Colombia
In Colombia, Elite outfit Posse Herrera Ruiz made the biggest jump in the rankings, rising from 15 M&A deals in 2024 to 19 in 2025 to take the top spot from Philippi Prietocarrizosa Ferrero DU & Uría (Colombia), whose count fell from 18 to 10. Highly Recommended firm Martínez Quintero Mendoza González Laguado & De La Rosa followed closely with 16 mandates, up from one recorded in 2024.
Peru
Highly Recommended firm Muñiz, Olaya, Meléndez, Castro, Ono & Herrera overtook the field in Peru, rising from 21 deals in 2024 to 30 in 2025. Philippi Prietocarrizosa Ferrero DU & Uría (Peru) came in second place with 21 mandates, while Elite outfit Miranda & Amado’s count edged down from 19 to 18, keeping the firm in third spot.
