US power industry sees a drop of 4.1% in deal activity in December 2019

29 January 2020 (Last Updated January 29th, 2020 14:26)

US power industry sees a drop of 4.1% in deal activity in December 2019

The US power industry saw a drop of 4.1% in overall deal activity during December 2019, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 47 deals worth $6.65bn were announced in December 2019, compared to the 12-month average of 49 deals.

M&A was the leading category in the month in terms of volume with 31 deals which accounted for 66% of all deals.

In second place was venture financing with 12 deals, followed by private equity with four transactions, respectively accounting for 25.5% and 8.5% of overall deal activity in the country’s power industry during the month.

In terms of value of deals, M&A was the leading deal category in the US power industry with total deals worth $5.16bn, while private equity and venture financing deals totalled $1.39bn and $105.78m, respectively.

US power industry deals in December 2019: Top deals

The top five power industry deals accounted for 93.4% of the overall value during December 2019.

The combined value of the top five power deals stood at $6.21bn, against the overall value of $6.65bn recorded for the month.

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

1) WESCO International’s $4.52bn acquisition of Anixter International

2) The $1.3bn private equity deal with Rivian Automotive by, BlackRock, Ford Motor and T Rowe Price Associates

3) Clearway Energy’s $184m asset transaction with Global Infrastructure Partners III

4) The $110m acquisition of Primary Energy Recycling by SDCL Energy Efficiency Income Trust

5) DTE Energy Services’ asset transaction with Marina Energy for $100m.

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.