US power industry sees a flat growth in deal activity in May 2019

19 June 2019 (Last Updated June 19th, 2019 08:04)

US power industry sees a flat growth in deal activity in May 2019

The US power industry saw a flat growth in overall deal activity during May 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 $1.88bn were announced in May 2019, compared to the 12-month average of 47 deals.

M&A was the leading category in the month in terms of volume with 33 deals which accounted for 70.2% of all deals.

In second place was venture financing with 12 deals, followed by private equity with two transactions, respectively accounting for 25.5% and 4.3% 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 $1.16bn, while private equity and venture financing deals totalled $600m and $122.64m, respectively.

US power industry deals in May 2019: Top deals

The top five power industry deals accounted for 88.6% of the overall value during May 2019.

The combined value of the top five power industry deals stood at $1.67bn, against the overall value of $1.88bn recorded for the month. The top announced US power industry deal tracked by GlobalData in May 2019 was GIC’s $600m private equity deal with WaterBridge Resources.

In second place was the $400m asset transaction with Artesyn Embedded Technologies by Advanced Energy Industries and in third place was NRG Energy’s $300m asset transaction with Stream Gas & Electric.

The $285m asset transaction with New Mexico Renewable Energy Transmission Authority and Pattern Energy Group 2 by PNM and Kurita Water Industries’ acquisition of Avista Technologies and Avista Technologies (UK) for $81.8m held fourth and fifth positions, respectively.

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.