North America’s financial services industry saw a drop of 35.29% in deal activity during June 2022, when compared with the last 12-month average, led by JAB HoldingLLC’s $1.4bn acquisition of Crum & Forster Pet Insurance Group and Pethealth, according to GlobalData’s deals database.
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A total of 99 financial services industry deals worth $2.8bn were announced for the region in June 2022, against the 12-month average of 153 deals.
Of all the deal types, M&A saw most activity in June 2022 with 60 transactions, representing a 60.6% share for the region.
In second place was venture financing with 29 deals, followed by private equity deals with ten transactions, respectively capturing a 29.3% and 10.1% share of the overall deal activity for the month.
In terms of value of deals, M&A was the leading category in North America’s financial services industry with $1.77bn, while venture financing and private equity deals totalled $861.69m and $120m, respectively.
North America financial services industry deals in June 2022: Top deals
The top five financial services deals accounted for 72.4% of the overall value during June 2022.
The combined value of the top five financial services deals stood at $2bn, against the overall value of $2.8bn recorded for the month.
The top five financial services industry deals of June 2022 tracked by GlobalData were:
1) JAB HoldingLLC $1.4bn acquisition deal with Crum & Forster Pet Insurance Group and Pethealth
2) The $181.1m acquisition of GrandSouth Bancorporation by First Bancorp.
3) Adams Street Partners,B Capital Group,GIC,Thoma Bravo,Tiger Global Management and Wellington ManagementLLP $150m venture financing deal with FalconX
4) The $147m venture financing of Branch Financial by Acrew Capital,American Family Ventures,Anthemis Group,Gaingels,Greycroft Partners,HSCM Ventures,Narya Capital Management,SignalFire Management Services,Tower IV and Weatherford Capital
5) FNB $117m acquisition deal with UB Bancorp and Union Bank
