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  1. Deals Analysis
June 28, 2021

North America’s power industry saw a drop of 27.91% in deal activity during May 2021

By Baghmar P

North America’s power industry saw a drop of 27.91% in deal activity during May 2021, when compared with the last 12-month average, led by MasTec’s $420m acquisition of Intren, according to GlobalData’s deals database.

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A total of 31 power industry deals worth $679.5m were announced for the region in May 2021, against the 12-month average of 43 deals.

Of all the deal types, venture financing saw most activity in May 2021 with 13 transactions, representing a 41.9% share for the region.

In second place was M&A with 12 deals, followed by private equity deals with six transactions, respectively capturing a 38.7% and 19.4% share of the overall deal activity for the month.

In terms of value of deals, M&A was the leading category in North America’s power industry with $438.23m, followed by venture financing deals totalled $241.22m.

North America power industry deals in May 2021: Top deals

The top five power deals accounted for 91.1% of the overall value during May 2021.

The combined value of the top five power deals stood at $618.8m, against the overall value of $679.5m recorded for the month.

The top five power industry deals of May 2021 tracked by GlobalData were:

1) MasTec’s $420m acquisition of Intren

2) The $95m venture financing deal with Mainspring Energy by 40 North Ventures, American Electric Power, Bill Gates, Chevron Technology Ventures, ClearSky Ventures, Devonshire Investors, Equinor Venture, KCK Group, Khosla Ventures and Princeville Capital

3) Fujifilm, Global Power Synergy Public, Itochu, Kyocera, Mirai Creation Fund II and North Bridge Venture Partners’ $56.8m venture financing of 24M Technologies

4) The $31m venture financing of Voltus by Activate Capital, Ajax Strategies, NGP Energy Technology Partners and Prelude Ventures

5) XL Fleet’s acquisition of World Energy Efficiency Services for $16m.

Related Companies

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.

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