US metals & mining industry sees a flat growth in deal activity in Q3 2019

27 November 2019 (Last Updated November 27th, 2019 06:37)
US metals & mining industry sees a flat growth in deal activity in Q3 2019

The US metals & mining industry saw a flat growth 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 47 deals worth $855.52m were announced in Q3 2019, compared to the last four-quarter average of 47 deals.

M&A was the leading category in the quarter with 38 deals which accounted for 80.9% of all deals.

In second place was venture financing with five deals, followed by private equity with four transactions, respectively accounting for 10.6% and 8.5% of overall deal activity in the country’s metals & mining industry during the quarter.

In terms of value of deals, M&A was the leading deal category in the US metals & mining industry with total deals worth $595m, while private equity and venture financing deals totalled $237.39m and $23.13m, respectively.

The US metals & mining industry deals in Q3 2019: Top deals

The top five metals & mining deals accounted for 93.03% of the overall value during Q3 2019.

The combined value of the top five metals & mining deals stood at $795.9m, against the overall value of $855.52m recorded for the month.

The top five metals & mining industry deals of Q3 2019 tracked by GlobalData were:

1) GSO Capital Partners’ $350m private equity deal with Genesis Alkali Holdings Company

2) The $245m private equity deal with American Axle & Manufacturing Holdings by Gamut Capital Management, L.P

3) Allison Transmission Holdings’ $103m asset transaction with C&R Tool and Engineering and Walker Die Casting

4) The $55.7m asset transaction with Cloud Peak Energy by Navajo Transitional Energy Company

5) Allegiance Coal’s acquisition of New Elk CoalLLC for $42.2m.

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.