Sullivan & Cromwell and Kirkland & Ellis were the top mergers and acquisitions (M&A) legal advisers in construction sector for 2021 by value and volume, respectively. Sullivan & Cromwell advised on 16 deals worth $65.2bn, which was the highest value among all the advisers. Meanwhile, Kirkland & Ellis led in volume terms having advised on 51 deals worth $51.8bn. A total of 4,261 M&A deals were announced in the sector during year 2021, according to GlobalData, a leading data and analytics company.

According to GlobalData’s report, ‘Global and Construction M&A Report Legal Adviser League Tables 2021’, deal value for the sector increased by 61.5% from $335.7bn during 2020 to $542bn during 2021.

Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Kirkland & Ellis was the only advisor to surpass the 50-deal volume mark. Moreover, it managed to advise on some of the big-ticket deals announced in the sector. Consequently, apart from leading by volume, Kirkland & Ellis also occupied the third position by value.

“Meanwhile, Sullivan & Cromwell managed to advise on two mega deals valued more than $10bn, which was pivotal in securing the top position by value for the firm.”

Cravath Swaine & Moore occupied the second position in terms of value with seven deals worth $60.4bn followed by Kirkland & Ellis with 51 deals worth $51.8bn, Freshfields Bruckhaus Deringer with nine deals worth $50.7bn and Wachtell Lipton Rosen & Katz with 11 deals worth $49.6bn.

CMS occupied the second position in terms of volume with 34 deals worth $2.1bn, followed by Latham & Watkins with 29 deals worth $42.4bn, Jones Day with 23 deals worth $13.3bn and Allen & Overy with 22 deals worth $14.4bn.