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  1. Deals Analysis
April 28, 2022

US automotive industry sees a rise of 64.71% in deal activity in March 2022

By Carmen

US automotive industry saw a rise of 64.71% in overall deal activity during March 2022, when compared with the last 12-month average, led by General Motors’ $2.1bn acquisition of GM Cruise, according to GlobalData’s deals database.

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A total of 28 deals worth $2.2bn were announced in March 2022, compared with the 12-month average of 17 deals.

M&A was the leading category in the month in terms of volume with 12 deals, which accounted for 42.9% of all deals.

In second place was private equity with eight deals, followed by venture financing with eight transactions, respectively accounting for 28.6% and 28.6% of overall deal activity in the US technology industry during the month.

In terms of value of deals, M&A was the leading deal category in the US automotive industry with total deals worth $2.1bn, followed by venture financing deals totalled $66.58m.

US automotive industry deals in March 2022: Top deals

The top five automotive industry deals accounted for 99.4% of the overall value during March 2022.

The combined value of the top five automotive deals stood at $2.15bn, against the overall value of $2.17bn recorded for the month.

The top five automotive industry deals of March 2022 tracked by GlobalData were:

1) General Motors $2.1bn acquisition deal with GM Cruise

2) The $25m venture financing of Beep by LP.,ABS Capital Partners,Blue Lagoon Capital,Hidden Creek Management,Intel Capital and TDF Ventures (TDF Fund)

3) Capital Factory ,Champion Hill Ventures,Folsom Point Equity,Kindred Ventures,Lowercarbon Capital,OzoneX Ventures,Saltwater Capital and THRC Investments $17m venture financing deal with Linear Labs

4) The $6.5m venture financing of Ride1up by Ecosystem Integrity Fund

5) Lyndon Rive $5m venture financing deal with AutoSled

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.

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