US power industry deal activity unplugged
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US power industry sees a drop of 21.62% in deal activity in May 2021

29 Jun 2021

US power industry saw a drop of 21.62% in overall deal activity during May 2021, when compared with the last 12-month average, led by MasTec’s $420m acquisition of Intren, according to GlobalData’s deals database.

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A total of 29 deals worth $679.5m were announced in May 2021, compared with the 12-month average of 37 deals.

M&A was the leading category in the month in terms of volume with 12 deals, which accounted for 41.4% of all deals.

In second place was venture financing with 12 deals, followed by private equity with five transactions, respectively accounting for 41.4% and 17.2% of overall deal activity in the US technology 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 $438.23m, followed by venture financing deals totalled $241.22m.

US power industry deals in May 2021: Top deals

The top five power industry deals accounted for 91.1% of the overall value during May 2021.

The combined value of the top five power deals stood at $618.8m, against the overall value of $679.5m recorded for the month.

The top five power industry deals of May 2021 tracked by GlobalData were:

1) MasTec’s $420m acquisition of Intren

2) The $95m venture financing of Mainspring Energy by 40 North Ventures, American Electric Power, Bill Gates, Chevron Technology Ventures, ClearSky Ventures, Devonshire Investors, Equinor Venture, KCK Group, Khosla Ventures and Princeville Capital

3) Fujifilm, Global Power Synergy Public, Itochu, Kyocera, Mirai Creation Fund II and North Bridge Venture Partners’ $56.8m venture financing of 24M Technologies

4) The $31m venture financing deal with Voltus by Activate Capital, Ajax Strategies, NGP Energy Technology Partners and Prelude Ventures

5) XL Fleet’s acquisition of World Energy Efficiency Services for $16m.

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.