US power industry sees a drop of 6.1% in deal activity in September 2019

28 October 2019 (Last Updated October 28th, 2019 07:22)

US power industry sees a drop of 6.1% in deal activity in September 2019

The US power industry saw a drop of 6.1% in overall deal activity during September 2019, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 46 deals worth $1.58bn were announced in September 2019, compared to the 12-month average of 49 deals.

M&A was the leading category in the month in terms of volume with 30 deals which accounted for 65.2% of all deals.

In second place was venture financing with 11 deals, followed by private equity with five transactions, respectively accounting for 23.9% and 10.9% 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 $1.52bn, while venture financing and private equity deals totalled $56.65m and $1.8m, respectively.

US power industry deals in September 2019: Top deals

The top three power industry deals accounted for 59.5% of the overall value during September 2019.

The combined value of the top three power deals stood at $0.94bn, against the overall value of $1.58bn recorded for the month.

The top three power industry deals of September 2019 tracked by GlobalData were:

1) The $338m asset transaction with Invenergy by WEC Energy Group

2) Quanta Services’ $330m acquisition of The Hallen Construction

3) The $276.5m asset transaction with DELAWARE COUNTY REGIONAL WATER QUALITY CONTROL AUTHORITY by Aqua America.

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.