The US financial services industry saw a rise of 5.04% in overall deal activity during October 2019, when compared with the last 12-month average, according to GlobalData’s deals database.
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A total of 125 deals worth $4.66bn were announced in October 2019, compared to the 12-month average of 119 deals.
M&A was the leading category in the month in terms of volume with 81 deals which accounted for 64.8% of all deals.
In second place was venture financing with 35 deals, followed by private equity with nine transactions, respectively accounting for 28% and 7.2% 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 $3.34bn, while private equity and venture financing deals totalled $675m and $644.48m, respectively.
US financial services industry deals in October 2019: Top deals
The top five financial services industry deals accounted for 88.5% of the overall value during October 2019.
The combined value of the top five financial services deals stood at $4.12bn, against the overall value of $4.66bn recorded for the month.
The top five financial services industry deals of October 2019 tracked by GlobalData were:
1) HCC Insurance(Inactive)’s $3.1bn acquisition of Privilege Underwriters
2) The $500m private equity deal with Constellation Insurance Holdings by Caisse de depot et placement du Quebec and Ontario Teachers’ Pension Plan
3) American Express Ventures, Group 11, Munich Re Group and Zeev Ventures’ $250m venture financing of Next Insurance
4) The $150m private equity deal with Leyline Renewable Capital by Newlight Partners
5) Reliant Bancorp’s acquisition of First Advantage Bancorp and First Advantage Bank for $123.4m.
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.
