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  1. Deals Analysis
March 31, 2022

North America’s power industry saw a rise of 9.62% in deal activity during February 2022

By Nikitha Ladda

North America’s power industry saw a rise of 9.62% in deal activity during February 2022, when compared with the last 12-month average, led by Chevron’s $3.15bn acquisition of Renewable Energy Group, according to GlobalData’s deals database.

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A total of 57 power industry deals worth $5bn were announced for the region in February 2022, against the 12-month average of 52 deals.

Of all the deal types, venture financing saw most activity in February 2022 with 32 transactions, representing a 56.1% share for the region.

In second place was M&A with 17 deals, followed by private equity deals with eight transactions, respectively capturing a 29.8% and 14.04% 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 $3.19bn, while venture financing and private equity deals totalled $1.19bn and $627.5m, respectively.

North America power industry deals in February 2022: Top deals

The top five power deals accounted for 86.8% of the overall value during February 2022.

The combined value of the top five power deals stood at $4.35bn, against the overall value of $5bn recorded for the month.

The top five power industry deals of February 2022 tracked by GlobalData were:

1) Chevron $3.15bn acquisition deal with Renewable Energy Group

2) The $375m venture financing of Palmetto Solar by Bennett &Inc.,ArcTern Ventures ,Gaingels,Lerer Hippeau Ventures,MacKinnon and Social Capital

3) Yorkville Advisors $350m private equity deal with Romeo Power

4) The $270m private equity of ANDION Global by Business Development Bank of Canada,Equitix Infrastructure Investments and Spring Lane Capital

5) Bedrock Capital Partners,Broom Ventures,Eight Partners,EPIQ Capital Group,Gaingels,General Dynamics Land Systems,I Squared Capital,Moore Strategic Ventures,Parkwood,Piedmont Capital Partners,Red Cell Partners,StepStone Group and T Rowe Price Associates $200m venture financing deal with Epirus

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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