The US financial services industry saw a drop of 21.05% in overall deal activity during November 2020, when compared with the last 12-month average, according to GlobalData’s deals database.
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A total of 90 deals worth $1.52bn were announced in November 2020, compared to the 12-month average of 114 deals.
M&A was the leading category in the month in terms of volume with 74 deals which accounted for 82.2% of all deals.
In second place was venture financing with nine deals, followed by private equity with seven transactions, respectively accounting for 10% and 7.8% of overall deal activity in the country’s financial services industry during the month.
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By GlobalDataIn terms of value of deals, M&A was the leading deal category in the US financial services industry with total deals worth $1.05bn, while private equity and venture financing deals totalled $370m and $98.48m, respectively.
US financial services industry deals in November 2020: Top deals
The top five financial services industry deals accounted for 98.4% of the overall value during November 2020.
The combined value of the top five financial services deals stood at $1.49bn, against the overall value of $1.52bn recorded for the month.
The top five financial services industry deals of November 2020 tracked by GlobalData were:
1) BlackRock’s $1.05bn private equity deal with Aperio Group LLC
2) The $370m acquisition of American Access Casualty by Kemper
3) Bonfire Ventures, Greycroft Partners and Loeb.nyc’s $33.85m venture financing of Snap Credit
4) The $30m venture financing of Critical Ideas by Bezos Expeditions and Ribbit Capital
5) AXA Venture Partners and Sunwater Capital’s venture financing of Troy Health for $10m.
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.
