US power industry sees a rise of 47.6% in deal activity in October 2020

26 November 2020 (Last Updated November 26th, 2020 14:41)

US power industry sees a rise of 47.6% in deal activity in October 2020

The US power industry saw a rise of 47.6% in overall deal activity during October 2020, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 62 deals worth $10.12bn were announced in October 2020, compared to the 12-month average of 42 deals.

M&A was the leading category in the month in terms of volume with 32 deals which accounted for 51.6% of all deals.

In second place was venture financing with 22 deals, followed by private equity with eight transactions, respectively accounting for 35.5% and 12.9% 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 $9.33bn, while private equity and venture financing deals totalled $669.55m and $120.97m, respectively.

US power industry deals in October 2020: Top deals

The top five power industry deals accounted for 94.3% of the overall value during October 2020.

The combined value of the top five power deals stood at $9.54bn, against the overall value of $10.12bn recorded for the month.

The top five power industry deals of October 2020 tracked by GlobalData were:

1) Avangrid’s $8.3bn acquisition of PNM Resources

2) The $358m acquisition of Advent Technologies by AMCI Acquisition

3) SMART Global’s $300m asset transaction with Cree

4) The $300m acquisition of SolarMax Technology by Alberton Acquisition

5) Apollo Global Management’s private equity deal with Great Bay Renewables for $280m.

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.

 

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.