The US power industry saw a drop of 15.9% in overall deal activity during March 2019, when compared with the last 12-month average, according to GlobalData’s deals database.
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A total of 37 deals worth $4.36bn were announced in March 2019, compared to the 12-month average of 44 deals.
M&A was the leading category in the month in terms of volume with 19 deals which accounted for 51.4% of all deals.
In second place was venture financing with 14 deals, followed by private equity with four transactions, respectively accounting for 37.8% and 10.8% 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 $3.06bn, while private equity and venture financing deals totalled $910m and $388.33m, respectively.
US power industry deals in March 2019: Top deals
The top five power industry deals accounted for 64.2% of the overall value during March 2019.
The combined value of the top five power industry deals stood at $2.8bn, against the overall value of $4.36bn recorded for the month. The top announced US power industry deal tracked by GlobalData in March 2019 was Enmax’s $1.3bn acquisition of Emera Maine.
In second place was the $1.02bn asset transaction with NextEra Energy Resources by Nextera Energy Partners and in third place was Enel Green Power North America’s $256m asset transaction with Enel Green Power North America Renewable Energy Partners.
The $125m asset transaction with Geronimo Energy by National Grid and National Grid’s acquisition of Geronimo Energy for $100m 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.