Europe’s power industry saw a drop of 20% in cross border deal activity during September 2022, when compared with the last 12-month average, led by Hitachi’s $1.68bn acquisition of 19.9% stake in Hitachi Energy, according to GlobalData’s deals database.
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A total of 44 power industry cross border deals worth $3.2bn were announced for the region in September 2022, against the 12-month average of 55 deals.
Of all the deal types, M&A saw most activity in September 2022 with 34 transactions, representing a 77.3% share for the region.
In second place was venture financing with seven deals, followed by private equity deals with three transactions, respectively capturing a 15.9% and 6.8% share of the overall cross border deal activity for the month.
In terms of value of cross border deals, M&A was the leading category in Europe’s power industry with $2.9bn, while venture financing and private equity deals totalled $190.25m and $100m, respectively.
Europe power industry cross border deals in September 2022: Top deals
The top five power cross border deals accounted for 82.7% of the overall value during September 2022.
The combined value of the top five power cross border deals stood at $2.64bn, against the overall value of $3.2bn recorded for the month.
The top five power industry cross border deals of September 2022 tracked by GlobalData were:
1) Hitachi’s $1.68bn acquisition deal for 19.9% stake in Hitachi Energy
2) The $705.01m asset transaction of 49% stake in Iberdrola by Energy Infrastructure Partners
3) Wren House Infrastructure Management’s $100m private equity deal with ZES and Zorlu Enerji Elektrik Uretim
4) The $78m venture financing deal with Tesseract Energy by Accel, Balderton Capital (UK), BoxGroup, Chris Sacca, Creandum, John Doran, Lakestar Advisors, Lowercarbon Capital, Martin Mignot, Nico Rosberg, Ribbit and Tom Stafford
5) FleetCor Technologies’s $75.21m acquisition deal with PlugSurfing