The US financial services industry saw a rise of 13.04% in overall deal activity during Q2 2019, when compared with the last four-quarter average, according to GlobalData’s deals database.
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A total of 338 deals worth $34.4bn were announced in Q2 2019, compared to the last four-quarter average of 299 deals.
M&A was the leading category in the quarter with 233 deals which accounted for 68.9% of all deals.
In second place was venture financing with 81 deals, followed by private equity with 24 transactions, respectively accounting for 24% and 7.1% of overall deal activity in the country’s financial services industry during the quarter.
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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 $29.23bn, while private equity and venture financing deals totalled $3.65bn and $1.52bn, respectively.
The US financial services industry deals in Q2 2019: Top deals
The top five financial services deals accounted for 82.6% of the overall value during Q2 2019.
The combined value of the top five financial services industry deals stood at $28.4bn, against the overall value of $34.4bn recorded for the quarter. The top announced US financial services industry deal tracked by GlobalData in Q2 2019 was $21.5bn merger of Global Payments and Total System Services.
In second place was the $2.1bn merger of Prosperity Bancshares and LegacyTexas Financial Group and in third place was Onex Partners V’s $1.8bn private equity deal with Convex Re.
The $1.8bn private equity deal with Stone Canyon Industries Holdings by Eldridge Industries, Mubadala Investment Company, Ontario Teachers’ Pension Plan, Public Sector Pension Investment Board and The Olayan Group and Principal Financial Group’s asset transaction with Wells Fargo for $1.2bn held fourth and fifth positions, respectively.
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.
