22 Jul 2020
Posted in Business Fundamentals
JP Morgan and EY were top financial advisers by value and volume in global construction sector in H1 2020
JP Morgan and Ernst & Young (EY) were noted to be the top mergers and acquisitions (M&A) financial advisers in the global construction sector in the first half (H1) of 2020, based on deal value and volume, respectively. JP Morgan advised on six deals worth US$31.8bn, which was the highest among all the advisers. Meanwhile, EY led in volume terms having advised on 12 deals worth US$24.1bn during H1, according to GlobalData, a leading data and analytics company.
Goldman Sachs occupied the second position by value with four deals worth US$25.5bn and Rothschild & Co occupied the second position by volume with nine deals worth US$22.8bn.
Aurojyoti Bose, Financial Deals Analyst at GlobalData, comments: “Despite a decline in deal volume, the construction sector witnessed the announcement of big-ticket deals such as the acquisition of ThyssenKrupp Elevator by a consortium of investors for US$18.7bn and the acquisition of the remaining 85% stake in CoreLogic by Cannae Holdings and Senator Investment Group for US$7bn during the COVID-19-hit H1. This also reflects in the list of top ten advisors by value, with all firms in the list surpassing the US$10bn mark.
“Interestingly, both JP Morgan and EY independently advised on the same high-value US$18.7bn deal, but JP Morgan’s involvement in relatively more high-value transactions helped the adviser secure the top position by value.”
The number of deals announced in the global construction sector decreased by 14.1% from 1,345 in H1 2019 to 1,155 in H1 2020, according to GlobalData’s Financial Deals Database. Despite the decline in volume, deal value increased by 13.9% from US$85.9bn in H1 2019 to US$97.8bn in H1 2020.
JP Morgan, which topped the construction sector deals league table by value, stood at second position (by value) in GlobalData’s recently released global league table of top 20 M&A financial advisers. Similarly, EY, which topped the construction sector league table by volume, also occupied the topposition (by volume) in the global league table.