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North American Merger and Acquisition Report, October 2021

By FirmoGraphs Staff
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In October, we recorded 44 completed transactions related to the North American M&A market in 11 different industries, the same activity level as in the previous month. With ten completed transactions, healthcare was the most active industry! 

As always, our focus is on those operationally-intensive industries that are of interest to our clients, like utilities and manufacturing.


 

Utilities

There were six completed M&A deals in the utilities industry, all of them related to renewable power. The largest transaction was SunPower’s acquisition of Blue Raven Solar for $165 million.

 

Oil Industry

FirmoGraphs recorded three completed deals in the oil and gas industry. The largest transaction was the completed merger between Cabot Oil & Gas and Cimarex Energy, valued at $17.0 billion. This was the largest completed transaction in all industries tracked by FirmoGraphs in October.

 

Engineered Products 

Six transactions were recorded in the engineered products industry. The largest deal was Pentair’s acquisition of Pleatco for $255 million.

 

Healthcare

The healthcare industry was the most active one in October, with ten completed transactions. The largest acquisition was Amgen’s purchase of Teneobio for $900 million. However, the deal can rise to $2.5 billion if certain milestones are reached.

 

Other Industries

Three large deals in other industries stand out: 

  • Westlake Chemical Corporation bought certain Boral Limited’s North American building products businesses for $2.15 billion; 
  • Terran Orbital Corporation completed the merger with Tailwind Two Acquisition Corp. valued at $1.58 billion; 
  • Wall Box Chargers and Kensington Capital Acquisition Corp. II completed their merger valued at $1.5 billion.

Three Biggest Transactions in October by Deal Value

Acting organization

Target Organization

Industry

Deal Value

Cabot Oil & Gas Corp

Cimarex Energy Co

Oil and Gas

$17,000,000,000

Westlake Chemical Corporation

Boral Limited

Building Materials

$2,150,000,000

Tailwind Two Acquisition Corp. 

Terran Orbital Corporation

Aerospace

$1,580,000,000


Announced Future Deals

In addition to completed transactions, FirmoGraphs recorded over 40 announced future deals. Among the announced deals, the most notable are:

  • A merger between Altus Midstream Company and BCP Raptor Holdco, valued at $9.0 billion; 
  • A merger between Oasis Midstream Partners and Crestwood Equity Partners, valued at $6.9 billion;
  • Stonepeak’s acquisition of Teekay LNG, valued at $6.2 billion.

FirmoGraphs watches North American industrial news and curates a normalized version of monthly merger and acquisition information. This way, you can leverage the Merger Mart along with others (such as Power, Water) to generate your own unique observations for the US industrial market.  

Our favored BI solution, Qlik Sense™ Enterprise, makes mashing-up multiple data sets fun and easy. Our customers find new opportunities to grow revenue, and reduce risk, by combining the Merger Mart with their own proprietary CRM and market data.

Having a good understanding of customer M&A activities can be key to the health of your business. Click here to learn more.

Tags: mergers, acquisitions