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  1. Deals Analysis
October 3, 2022

North America’s financial services industry saw a flat growth in deal activity during August 2022

By Carmen

North America’s financial services industry saw a flat growth in deal activity during August 2022, when compared with the last 12-month average, led by The Toronto-Dominion Bank’s $1.3bn acquisition of Cowen, according to GlobalData’s deals database.

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A total of 143 financial services industry deals worth $4.4bn were announced for the region in August 2022, against the 12-month average of 143 deals.

Of all the deal types, M&A saw most activity in August 2022 with 95 transactions, representing a 66.4% share for the region.

In second place was venture financing with 37 deals, followed by private equity deals with 11 transactions, respectively capturing a 25.9% and 7.7% 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 $2.61bn, while private equity and venture financing deals totalled $1.34bn and $423.46m, respectively.

North America financial services industry deals in August 2022: Top deals

The top five financial services deals accounted for 75.9% of the overall value during August 2022.

The combined value of the top five financial services deals stood at $3.31bn, against the overall value of $4.4bn recorded for the month.

The top five financial services industry deals of August 2022 tracked by GlobalData were:

1) The Toronto-Dominion Bank $1.3bn acquisition deal with Cowen

2) The $1bn private equity of NetSpend by Rev Worldwide and Searchlight Capital Partners

3) Spruce Lake Liability Management Holdco $550m acquisition deal with Redco

4) The $250.41m acquisition of ivari by Sagicor Financial

5) Stone Point Capital $210m private equity deal with The Kessler Group

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.

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