National Grid’s $10.85bn acquisition deal with Western Power Distribution was the power industry’s biggest deal of Q1 2021 as deals worth $55.62bn were announced globally in the quarter, according to GlobalData’s deals database.
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The value marked a decrease of 34.8% over the previous quarter and a rise of 26.9% when compared with the last four-quarter average of $43.82bn.
In terms of number of deals, the sector saw a rise of 28.46% with 615 deals in Q1 2021 against the average of 478.75 deals in the last four-quarters.
In value terms, North America led the activity with deals worth $27.61bn.
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By GlobalDatapower industry deals in Q1 2021: Top deals
The top five power industry deals accounted for 47.1% of the overall value during Q1 2021.
The combined value of the top five deals stood at $26.22bn, against the overall value of $55.62bn recorded for the quarter.
The top five power industry deals of Q1 2021 tracked by GlobalData were:
1) National Grid’s $10.85bn acquisition deals with Western Power Distribution
2) IFM Global Infrastructure Fund’s $6.15bn private equity deal for 22.69% stake with Naturgy Energy Group
3) PPL’s $3.8bn acquisition of The Narragansett Electric
4) The $3.24bn private equity deal with Aggreko by Albion Acquisitions
5) CK Asset Holdings’ acquisition of Dutch Enviro Energy Holdings, Northumbrian Water, UK Power Networks and Wales & West Utilities for $2.19bn.