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US power industry sees a drop of 2.3% in deal activity in February 2019

19 Mar 2019 (Last Updated March 19th, 2019 16:07)

US power industry sees a drop of 2.3% in deal activity in February 2019

The US power industry saw a drop of 2.3% in overall deal activity during February 2019, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 43 deals worth $2.58bn were announced in February 2019, compared to the 12-month average of 44 deals.

M&A was the leading category in the month in terms of volume with 22 deals which accounted for 51.2% of all deals.

In second place was venture financing with 17 deals, followed by private equity with four transactions, respectively accounting for 39.5% and 9.3% 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 $1.81bn, while venture financing and private equity deals totalled $751.88m and $21m, respectively.

US power industry deals in February 2019: Top deals

The top five power industry deals accounted for 95.6% of the overall value during February 2019.

The combined value of the top five power industry deals stood at $2.47bn, against the overall value of $2.58bn recorded for the month. The top announced US power industry deal tracked by GlobalData in February 2019 was American Electric Power’s $1.06bn acquisition of Sempra Renewables.

In second place was the $700m venture financing of Rivian Automotive by and in third place was Kurita Water Industries’ $270m acquisition of U.S. Water Services.

The $225m asset transaction with Orsted by Eversource Energy and Tesla’s acquisition of Maxwell Technologies for $218.02m 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.

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.