The UK power industry saw a drop of 5.4% in overall deal activity during Q1 2019, when compared with the last four-quarter average, according to GlobalData’s deals database.
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A total of 35 deals worth $1.32bn were announced in Q1 2019, compared to the last four-quarter average of 37 deals.
M&A was the leading category in the quarter with 24 deals which accounted for 68.6% of all deals.
In second place was venture financing with six deals, followed by private equity with five transactions, respectively accounting for 17.1% and 14.3% of overall deal activity in the country’s power industry during the quarter.
In terms of value of deals, M&A was the leading deal category in the UK power industry with total deals worth $1.22bn, while private equity and venture financing deals totalled $59.35m and $40.21m, respectively.
UK power industry deals in Q1 2019: Top deals
The top five power deals accounted for 91.02% of the overall value during Q1 2019.
The combined value of the top five power industry deals stood at $1.2bn, against the overall value of $1.32bn recorded for the quarter. The top announced UK power industry deal tracked by GlobalData in Q1 2019 was Greencoat UK Wind’s $593.09m asset transaction with SSE.
In second place was the $278.31m acquisition of Ovo Energy by Mitsubishi and in third place was Greencoat Capital’s $240.12m asset transaction with SSE.
The $45.15m asset transaction with Pearl International Investments by Greencoat Solar Assets II and Legal & General Group, Equinor and Xinjiang Goldwind Science & Technology’s venture financing of Oxford Photovoltaics for $41.09m held fourth and fifth positions, respectively.
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.
Visit our ‘Power Deals Dashboard’ for the latest trends in M&A, PE, and VC activity, top deals and advisory league tables in the power industry.