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.
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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