The US financial services industry saw a drop of 5.2% in overall deal activity during September 2019, when compared with the last 12-month average, according to GlobalData’s deals database.
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A total of 110 deals worth $5.63bn were announced in September 2019, compared to the 12-month average of 116 deals.
M&A was the leading category in the month in terms of volume with 70 deals which accounted for 63.6% of all deals.
In second place was venture financing with 34 deals, followed by private equity with six transactions, respectively accounting for 30.9% and 5.5% 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 $4.17bn, while venture financing and private equity deals totalled $1.33bn and $130m, respectively.
US financial services industry deals in September 2019: Top deals
The top five financial services industry deals accounted for 76.9% of the overall value during September 2019.
The combined value of the top five financial services deals stood at $4.33bn, against the overall value of $5.63bn recorded for the month.
The top five financial services industry deals of September 2019 tracked by GlobalData were:
1) Prudential Financial’s $3.5bn acquisition of Assurance IQ
2) The $460.7m acquisition of Revere Bank by Sandy Spring Bancorp
3) Invus Opportunities, LL Funds, Oaktree Capital Management and QED Investors’ $200m venture financing of Mission Lane
4) The $91m acquisition of Highlands Bankshares by First Community Bancshares
5) Great Hill Partners’s private equity deal with Pareto Health for $80m.
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.
