Analysis of the key themes driving M&A activity reveals that batteries accounted for 36 power deals announced in Q2 2023, worth a total value of $273.3m. The $97m minority acquisition of Ingrid Capacity by BW Energy Storage Systems was the industry’s largest disclosed deal. GlobalData’s Power Industry Mergers and Acquisitions Deals report for Q2 2023 uncovers key trends behind the power market M&A deals and helps gain a comprehensive understanding of the disruptive themes driving most notable to deals. Buy the report here.
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In value terms, batteries-related deal activity decreased by 93% in Q2 2023 compared with the previous quarter’s total of $3.8bn and fell by 60% as compared to Q2 2022. Related deal volume decreased by 10% in Q2 2023 versus the previous quarter and was 20% lower than in Q2 2022.
The top-ranked financial advisors supporting these M&A deals in Q2 2023 were JPMorgan Chase & Co; Canaccord Genuity Group; DNB Bank with 2, 1, 1 deals respectively.
The top-ranked legal advisors supporting these M&A deals in Q2 2023 were Baker & McKenzie; Burges Salmon; CMS Legal Services EEIG with 2, 2, 2 deals respectively.
For further understanding of GlobalData's Power Industry Mergers and Acquisitions Deals by Top Themes in Q2 2023 – Thematic Intelligence, buy the report here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Deals Database tracks global deal activity, including mergers, acquisitions, capital raising, strategic alliances, and licensing agreements. Proprietary analysis is used to group deals into key thematic areas and granular sectors across the world’s largest industries.
This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Deal type includes Acquisition, Asset transactions and Mergers.
