The US financial services industry saw a rise of 13.5% in overall deal activity during Q3 2019, when compared with the last four-quarter average, according to GlobalData’s deals database.
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A total of 370 deals worth $12.57bn were announced in Q3 2019, compared to the last four-quarter average of 326 deals.
M&A was the leading category in the quarter with 221 deals which accounted for 59.7% of all deals.
In second place was venture financing with 128 deals, followed by private equity with 21 transactions, respectively accounting for 34.6% and 5.7% of overall deal activity in the country’s financial services industry during the quarter.
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By GlobalDataIn terms of value of deal, M&A was the leading deal category in the US financial services industry with total deals worth $8.74bn, while private equity and venture financing deals totalled $2.98bn and $854m, respectively.
The US financial services industry deals in Q3 2019: Top deals
The top five financial services deals accounted for 55.2% of the overall value during Q3 2019.
The combined value of the top five financial services deals stood at $6.93bn, against the overall value of $12.57bn recorded for the month.
The top five financial services industry deals of Q3 2019 tracked by GlobalData were:
1) Prudential Financial’s $3.5bn acquisition of Assurance IQ
2) The $1.8bn asset transaction with United Services Automobile Association by The Charles Schwab
3) Pershing Square Capital Management’s $688m private equity deal with Berkshire Hathaway
4) The $485m acquisition of Sandler O’Neill and Partners by Piper Jaffray Companies
5) Sandy Spring Bancorp’s acquisition of Revere Bank for $460.7m.
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.
