US power industry sees a rise of 12.2% in deal activity in October 2019

21 November 2019 (Last Updated November 21st, 2019 10:42)

US power industry sees a rise of 12.2% in deal activity in October 2019

The US power industry saw a rise of 12.2% in overall deal activity during October 2019, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 55 deals worth $2.3bn were announced in October 2019, compared to the 12-month average of 49 deals.

M&A was the leading category in the month in terms of volume with 36 deals which accounted for 65.5% of all deals.

In second place was venture financing with ten deals, followed by private equity with nine transactions, respectively accounting for 18.2% and 16.4% 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 $1.52bn, while private equity and venture financing deals totalled $684.6m and $102.8m, respectively.

US power industry deals in October 2019: Top deals

The top five power industry deals accounted for 89% of the overall value during October 2019.

The combined value of the top five power deals stood at $2.05bn, against the overall value of $2.3bn recorded for the month.

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

1) Signify’s $1.4bn acquisition of Cooper Lighting Solutions

2) The $256.1m private equity deal with Pattern Energy Group by CBRE Caledon Capital Management

3) Fifth Third Bank, Morgan Stanley & and Silicon Valley Bank’s $250m private equity deal with Distributed Solar Development

4) The $80m private equity deal with Infrastructure and Energy Alternatives by Ares Management

5) TransAlta’s asset transaction with KineticorPartnership for $64.27m.

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.