UK power industry sees a drop of 16.2% in deal activity in Q3 2019

28 November 2019 (Last Updated November 28th, 2019 13:19)

UK power industry sees a drop of 16.2% in deal activity in Q3 2019

The UK power industry saw a drop of 16.2% in overall deal activity during Q3 2019, when compared with the last four-quarter average, according to GlobalData’s deals database.

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A total of 31 deals worth $1.15bn were announced in Q3 2019, compared to the last four-quarter average of 37 deals.

M&A was the leading category in the quarter with 20 deals which accounted for 64.5% of all deals.

In second place was private equity with six deals, followed by venture financing with five transactions, respectively accounting for 19.4% and 16.1% 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 $997.7m, while private equity and venture financing deals totalled $105.71m and $49.05m, respectively.

The UK power industry deals in Q3 2019: Top deals

The top five power deals accounted for 91.7% of the overall value during Q3 2019.

The combined value of the top five power deals stood at $1.06bn, against the overall value of $1.15bn recorded for the month.

The top five power industry deals of Q3 2019 tracked by GlobalData were:

1) Ovo Energy’s $616.58m asset transaction with SSE

2) The $303.38m asset transaction with John Wood Group by Jacobs Engineering Group

3) Bamboo Capital Partners, DOEN Participaties, Engie Rassembleurs d’Energies, MacKinnon, Bennett &Inc. and Mitsubishi’s $50m venture financing of BBOXX

4) The $43.69m private equity deal with Engenie by Cube Infrastructure Fund II

5) Meyer Burger Technology’s venture financing of Oxford Photovoltaics for $42.9m.

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.