U.S. M&A deal activity decreased in August, going down 15.4% with 1,116 announcements compared to 1,319 in July. Aggregate M&A spending decreased as well. In August, 2.2% less was spent on deals compared to July.
In terms of M&A deal activity, 13 of the 21 sectors tracked by FactSet saw an increase in M&A deal activity over the past three months relative to the same three-month period one year ago. The five sectors that witnessed the largest increases in M&A deal volume were: Commercial Services (521 vs. 454), Industrial Services (282 vs. 234), Distribution Services (143 vs. 122), Electronic Technology (107 vs. 87), and Health Technology (112 vs. 96).
On the other hand, 7 of the 21 sectors tracked by FactSet saw a decrease in M&A deal activity over the past three months relative to the same three-month period one year ago: Consumer Services (173 vs. 242), Finance (911 vs. 948), Technology Services (801 vs. 828), Non-Energy Minerals (80 vs. 93) and Consumer Non-Durables (75 vs. 86).
Topping the list of the largest deals announced in August are: Aon Plc entering an agreement to acquire USI Insurance Services LLC, a portfolio company of Kohlberg Kravis Roberts & Co LP, for $17 billion; Stripe, Inc. acquiring OpenRouter, Inc., a portfolio company of Menlo Ventures Management LP, CapitalG Management Co. LLC and a16z Capital Management LLC for a reported valuation of more than $8 billion; Curium US Holdings LLC's agreement to acquire Lantheus Holdings, Inc. for $7.5 billion; Victory Capital Holdings, Inc. agreeing to acquire First Eagle Investment Management LLC, a portfolio company of Genstar Capital Management LLC, for $6.4 billion; MARI Group, Inc.'s deal to acquire Ambassador Theatre Group Ltd., a portfolio company of Providence Equity Partners LLC, for a reported $6 billion.
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