Europe’s power industry saw a drop of 13.89% in deal activity during June 2021, when compared with the last 12-month average, led by Alecta Pensionsforsakring Omsesidigt, APG Groep, Axa Real Estate Investment Managers, Keva and PGGM’s $3.46bn private equity deal for 50% Stake in Stockholm Exergi, according to GlobalData’s deals database.
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A total of 31 power industry deals worth $8.8bn were announced for the region in June 2021, against the 12-month average of 36 deals.
Of all the deal types, M&A saw most activity in June 2021 with 20 transactions, representing a 64.5% share for the region.
In second place was venture financing with seven deals, followed by private equity deals with four transactions, respectively capturing a 22.6% and 12.9% share of the overall deal activity for the month.
In terms of value of deals, private equity was the leading category in Europe’s power industry with $6.24bn, while M&A and venture financing deals totalled $2.53bn and $40.82m, respectively.
Europe power industry deals in June 2021: Top deals
The top five power deals accounted for 98.9% of the overall value during June 2021.
The combined value of the top five power deals stood at $8.71bn, against the overall value of $8.8bn recorded for the month.
The top five power industry deals of June 2021 tracked by GlobalData were:
1) Alecta Pensionsforsakring Omsesidigt, APG Groep, Axa Real Estate Investment Managers, Keva and PGGM’s $3.46bn private equity deal for 50% Stake in Stockholm Exergi
2) The $2.75bn private equity deal with Northvolt by AMF Pensionsforsakring, AP1, Baillie Gifford, Baron Capital Management, Bridford Investments, Compagnia di San Paolo, Cristina Stenbeck, Daniel Ek, Goldman Sachs Asset Management, IMAS Foundation, KIC InnoEnergy, Norrsken VC, OMERS Capital Markets, PCS, Scania, Second Swedish National Pension Fund, Stena Metall, The Fourth Swedish National Pension Fund, The Third Swedish National Pension Fund (Tredje AP-fonden) and Volkswagen
3) Veleta BidCo S.a’s $1.29bn acquisition of SolarPack Corporacion Tecnologica
4) The $1.15bn acquisition of Bristol Water and Bristol Water Holdings UK by Pennon Group
5) Advent Technologies Holdings’ acquisition of fischer eco solutions and Serenergy for $62.04m.