North America’s power industry sees a drop of 22.2% in deal activity in June 2019

15 July 2019 (Last Updated August 20th, 2019 11:04)

North America’s power industry sees a drop of 22.2% in deal activity in June 2019

North America’s power industry saw a drop of 22.2% in deal activity during June 2019, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 42 power industry deals worth $7.2bn were announced for the region in June 2019, against the 12-month average of 54 deals.

Of all the deal types, M&A saw most activity in June 2019 with 24 transactions, representing a 57.1% share for the region.

In second place was venture financing with 12 deals, followed by private equity deals with six transactions, respectively capturing a 28.6% and 14.3% share of the overall deal activity for the month.

In terms of value of deals, private equity was the leading category in North America’s power industry with $4.32bn, while M&A and venture financing deals totalled $2.74bn and $144.78m, respectively.

North America power industry deals in June 2019: Top deals

The top five power deals accounted for 97.7% of the overall value during June 2019.

The combined value of the top five power deals stood at $7.04bn, against the overall value of $7.2bn recorded for the month.

The top five power deals tracked by GlobalData in June 2019 were:

1) Infrastructure Investment Fund’s $4.3bn private equity deal with El Paso Electric

2) The $1.29bn asset transaction with Canadian Utilities and Quanta Services by Greystone Manager Investments and IST3 Investment foundation

3) Ontario Power Generation’s $1.12bn acquisition of Cube Hydro Partners

4) The $290m acquisition of Hydrogenics by Cummins.

5) Centrica’s acquisition of SmartWatt Energy for $37m.

Verdict deals analysis methodology

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.

GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.

More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.