Total power industry M&A deals worth $7bn were announced in North America in Q3 2022, led by MasTec’s $1.1bn acquisition of Infrastructure and Energy Alternatives, according to GlobalData’s deals database.
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The value marked an increase of 84.1% over the previous quarter and a drop of 30.5% when compared with the last four-quarter average of $10.02bn.
North America held a 22.69% share of the global power industry M&A deal value that totalled $30.67bn in Q3 2022. With a 22.53% share and deals worth $6.91bn, the US was the top country in North America’s M&A deal value across power industry.
In terms of deal activity, North America recorded 130 deals during Q3 2022, marking an increase of 30.00% over the previous quarter and a rise of 7.00% over the last four-quarter average. The US recorded 119 deals during the quarter.
North America power industry M&A deals in Q3 2022: Top deals
The top five power industry M&A deals accounted for 59.7% of the overall value during Q3 2022.
The combined value of the top five M&A deals stood at $4.15bn, against the overall value of $7bn recorded for the quarter.
The top five power industry deals of Q3 2022 tracked by GlobalData were:
1) MasTec’s $1.1bn acquisition deal with Infrastructure and Energy Alternatives
2) The $1bn acquisition of Scout Clean Energy by Brookfield Renewable
3) The $913m merger deal with Athena Consumer Acquisition and Next.e.GO Mobile
4) The $600m acquisition of Spruce Power by XL Fleet
5) Brookfield Renewable’s $540m acquisition deal with Standard Solar
