North America’s power industry saw a drop of 38.78% in deal activity during October 2021, when compared with the last 12-month average, led by Liberty Utilities’ $2.85bn acquisition of AEP Transmission Co and Kentucky Power, according to GlobalData’s deals database.
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A total of 30 power industry deals worth $6.1bn were announced for the region in October 2021, against the 12-month average of 49 deals.
Of all the deal types, M&A saw most activity in October 2021 with 15 transactions, representing a 50% share for the region.
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In second place was venture financing with 11 deals, followed by private equity deals with four transactions, respectively capturing a 36.7% and 13.3% 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 $3.7bn, while private equity and venture financing deals totalled $2.05bn and $369.6m, respectively.
North America power industry deals in October 2021: Top deals
The top five power deals accounted for 91.6% of the overall value during October 2021.
The combined value of the top five power deals stood at $5.61bn, against the overall value of $6.1bn recorded for the month.
The top five power industry deals of October 2021 tracked by GlobalData were:
1) Liberty Utilities $2.85bn acquisition deal with AEP Transmission Co and Kentucky Power
2) The $1.9bn private equity of Clearway Community Energy Development by Kohlberg Kravis RobertsLP
3) Flex $540m acquisition deal with Anord Mardix
4) The $165m acquisition of Blue Raven Solar by SunPower
5) CounterPoint Capital Partners,Durable Capital Partners,Fidelity Management & Research,Rise Fund,T Rowe Price Associates and Vulcan Capital Management $154m venture financing deal with Rad Power Bikes