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August 1, 2019

M&A deals value increases to $11.7bn in Q2 2019

Quarterly M&A Deals Review reveals considerable rise in number and value of deals

By GlobalData Energy

A combined value of US $11.7bn in mergers and acquisitions (M&A) was announced in the equipment and services sector in Q2 2019., according to GlobalData’s latest report.

A substantial increase from the previous quarter, this is as a rise of 121 per cent from $5.3bn in M&A deals.

A year-on-year comparison witnessed an increase of 17 per cent in the number of deals and 193 per cent in value, compared with Q2 2018, when there were 93 deals worth a combined value of $4bn.

The entry of Waste Management into a definitive agreement to acquire all outstanding shares of Advanced Disposal Services was the top deal registered in Q2 2019.

Advanced Disposal, a provider of oil and gas waste disposal services, was acquired for $33.15 per share in cash which represents a total enterprise value of $4.9bn.

Centerview Partners LLC is serving as financial advisor, and Simpson Thacher & Bartlett LLP and Vedder Price P.C. are serving as Waste Management’s legal counsel, while UBS Investment Bank is serving as exclusive financial advisor to Advanced Disposal, and Shearman & Sterling LLP and Mayer Brown LLP are serving as the company’s legal counsel.

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Equipment and Services M&A Deal Value and Count, Q2 2019

On the volume front, the number of M&A decreased marginally from 110 deals in the first quarter to 109 in Q2 2019, of which 38 were cross border transactions and the remaining 71 were domestic transactions.

North America was the destination of choice for cross-border M&A activity in the quarter, recording 14 cross-border transactions in the quarter.

Regionally, North America led the global M&A market in terms of the number of deals and deal value in Q2 2019, with 58 per cent and 87 per cent shares respectively, registering 66 deals with a combined value of $10.5bn.

Europe accounted for 21 per cent share in Q2 2019, comprising 23 acquisitions, of which 13 were cross-border and the remaining 10 were domestic acquisitions, while Asia accounted for 11 global deals, or 10 per cent, of which seven were cross-border acquisitions and the remaining four were domestic acquisitions.

The Middle East and Africa each registered five deals respectively; and South America and Oceania each accounted for 2 per cent of global deals, or two deals.

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