North American Power Deals: Q3 2015 mergers & acquisitions report

October 2015

At a glance

Q3 2015 North American Power Deals

This quarter, we saw a significant increase in value and volume as the cost of capital remained low and as strategic investors announced deals supporting current growth objectives and future capital deployment opportunities.

This report presents an analysis of North American merger and acquisition activity in the power and utilities industry.

Key trends this quarter

  • A significant increase in volume, as well as value, of deals greater than $50 million, when compared to the previous quarter.

  • 18 deals greater than $50 million this quarter, compared to 10 the previous quarter. Total deal value reached $45.5 billion, as compared to $3 billion in the previous quarter.

  • Seven mega deals (deal value > $1 billion) this quarter, compared to none last quarter. Average deal size increased to $2.5 billion this quarter from $303 million in the previous quarter, an increase of 735%.

  • 17 of the 18 transaction this quarter were from strategic buyers, accounting for 99% of deals by value, up from 91% of deals by value during the previous quarter. Corporate deals rose to 89% of deals by value, while there were no corporate deals in the previous quarter. Three inbound deals this quarter accounted for 24% of deal value. There were no inbound deals in the previous quarter. Renewable power deals accounted for 14% of deals by value, a decline from 91% of deals by value in the previous quarter. 

Download previous Power Deals M&A reports