Clean Technology Quarterly Deals Analysis Q3 2009

GlobalData, November 2009, Pages: 66

Clean Technology Quarterly Deals Analysis Q3 2009

Summary

Our “Clean Technology Quarterly Deal Analysis Q3 2009” report is an essential source of data and trend analysis on the mergers and acquisitions and financings in the clean technology industry. The report provides detailed information on M&A, Equity/Debt Offerings, Private Equity, Venture Financing and Partnership transactions registered in the clean technology industry in Q3 2009. The report portrays detailed comparative data on the number of deals and their value in the last five quarters subdivided by deal types, segments, and geographies. Additionally, the report provides information on the top private equity, venture capital, and advisory firms in the clean technology industry. Data presented in this report is derived from Our proprietary in-house Clean Technology eTrack deals database and primary and secondary research.

Scope

- Analyze market trends for the clean technology market in the global arena
- Review of deal trends in wind, solar, biopower, geothermal, transformation technologies, hydrogen, fuel cell, air & environment management, energy efficiency, energy infrastructure, energy storage, recycling & waste management, transportation, water & waste water management markets
- Analysis of M&A, Equity/Debt Offerings, Private Equity, Venture Financing and Partnerships in the clean technology industry
- Summary of clean technology deals globally in the last five quarters
- Information on top deals happened in the clean technology industry
- Geographies covered include - North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa
- League Tables of financial advisors in M&A and equity/debt offerings. This includes key advisors such as Morgan Stanley, Credit Suisse, and Goldman Sachs

Reasons to buy

- Enhance your decision making capability in a more rapid and time sensitive manner
- Find Out the major deal performing segments for investments in your industry
- Evaluate type of companies divesting / acquiring and ways to raise capital in the market
- Do Deals with an understanding of how competitors are financed, and the mergers and partnerships that have shaped the clean technology market
- Identify major private equity/venture capital firms that are providing finance in the clean technology market
- Identify growth segments and opportunities in each region within the industry
- Look for key financial advisors where you are planning to raise capital from the market or for acquisitions within the industry
- Identify top deals makers in the clean technology market

1
1.1 List of tables
1.2 List of Figures
2 Clean Technology, Deal Summary
2.1 Clean Technology, Deal Value versus No. Of Deals Analysis, Q3 2009
2.2 Clean Technology, No. Of Deals By Type, Q3 2009
2.3 Clean Technology, Top Deals, Q3 2009
3 Clean Technology, Top Deal Makers, YTD 2009
4 Clean Technology, Deal Summary, By Type
4.1 Clean Technology, M&A Deals, Q3 2009
4.2 Clean Technology, Avg. M&A Deal Size, Q3 2008 - Q3 2009
4.2.1 Top M&A Deals in Q3 2009
4.3 Clean Technology, Equity Offering Deals, Q3 2009
4.3.1 Top IPOs in Q3 2009
4.3.2 Top Secondary Offerings in Q3 2009
4.3.3 Top PIPE Deals in Q3 2009
4.4 Clean Technology, Debt Offering Deals, Q3 2009
4.4.1 Top Public Debt Offerings in Q3 2009
4.4.2 Top Private Debt Placements in Q3 2009
4.5 Clean Technology, Venture Financing Deals, Q3 2009
4.5.1 Clean Technology, Top Venture Financing Firms, Last One Year
4.5.2 Top Venture Financing Deals in Q3 2009
4.6 Clean Technology, Private Equity Deals, Q3 2009
4.6.1 Clean Technology, Top Private Equity Firms, Last Year
4.6.2 Top Private Equity Deals in Q3 2009
4.7 Clean Technology, Partnership Deals, Q3 2009
4.7.1 Partnership Deals in Q3 2009
5 Clean Technology, Deal Summary, By Sector
5.1 Clean Technology, Energy Generation Deals, Q3 2009
5.1.1 Energy Generation- Deals of the Quarter
5.2 Clean Technology, Transportation Deals, Q3 2009
5.2.1 Transportation - Deals of the Quarter
5.3 Clean Technology, Recycling & Waste Management Deals, Q3 2009
5.3.1 Recycling & Waste Management - Deals of the Quarter
5.4 Clean Technology, Energy Efficiency Deals, Q3 2009
5.4.1 Energy Efficiency - Deals of the Quarter
5.5 Clean Technology, Water & Waste Water Management (WWM) Deals, Q3 2009
5.5.1 Water & Waste Water Management - Deals of the Quarter
5.6 Clean Technology, Energy Storage Deals, Q3 2009
5.6.1 Energy Storage - Deals of the Quarter
5.7 Clean Technology, Material Management Deals, Q3 2009
5.7.1 Material Management - Deals of the Quarter
5.8 Clean Technology, AIR & Environment Management Deals, Q3 2009
5.8.1 AIR & Environment Management - Deals of the Quarter
5.9 Clean Technology, Energy Infrastructure Deals, Q3 2009
5.9.1 Energy Infrastructure - Deals of the Quarter
5.10 Clean Technology, Manufacturing/Industrial Deals, Q3 2009
5.10.1 Manufacturing/Industrial - Deal of the Quarter
5.11 Clean Technology, Agriculture Deals, Q3 2009
5.11.1 Agriculture - Deal of the Quarter
6 Clean Technology, Deal Summary, By Geography
6.1 Clean Technology, North America Region Deals, Q3 2009
6.1.1 North America - Deals of the Quarter
6.2 Clean Technology, European Region Deals, Q3 2009
6.2.1 Europe - Deals of the Quarter
6.3 Clean Technology, Asia-Pacific Region Deals, Q3 2009
6.3.1 Asia-Pacific - Deals of the Quarter
6.4 Clean Technology, Rest of the World (ROW) Deals, Q3 2009
6.4.1 Rest of the World - Deals of the Quarter
7 Clean Technology, Top Advisors
7.1 Clean Technology, Top Financial Advisors, M&A, Deal Summary, Last One Year
7.2 Clean Technology, Top Financial Advisors, Equity Offerings, Deal Summary, Last One Year
7.3 Clean Technology, Top Financial Advisors, Debt Offerings, Deal Summary, Last One Year
8 Further Information
8.1 Methodology
8.2 About Us
8.3 Contact Us
8.4 Disclosure information
8.5 Disclaimer

Executive Summary

1.1 List of tables
Table 1: Clean Technology, Deals Summary, Q3 2008-Q3 2009 9
Table 2: Clean Technology, No. Of Deals By Type, Q3 2009 10
Table 3: Clean Technology, Top Deals, Q3 2009 11
Table 4: Clean Technology, Top Deal Makers, Deals Summary, YTD 2009 12
Table 5: Clean Technology, M&A, Deals Summary, Q3 2008-Q3 2009 13
Table 6: Clean Technology, Avg. M&A Deal Size, Summary, Q3 2008 - Q3 2009 14
Table 7: Clean Technology, Top M&A Deals, Q3 2009 15
Table 8: Clean Technology, Equity Offering, Deals Summary, Q3 2008-Q3 2009 16
Table 9: Clean Technology, Top IPOs, Q3 2009 17
Table 10: Clean Technology, Top Secondary Offerings, Q3 2009 17
Table 11: Clean Technology, Top Private Placements, Q3 2009 17
Table 12: Clean Technology, Debt Offering, Deals Summary, Q3 2008-Q3 2009 18
Table 13: Clean Technology, Top Public Debt Offerings, Q3 2009 19
Table 14: Clean Technology, Top Private Debt Placements, Q3 2009 19
Table 15: Clean Technology, Venture Financing, Deals Summary, Q3 2008-Q3 2009 20
Table 16: Clean Technology, Top Venture Financing Firms, Q4 2008 - Q3 2009 21
Table 17: Clean Technology, Top Venture Financing Deals, Q3 2009 22
Table 18: Clean Technology, Private Equity, Deals Summary, Q3 2008-Q3 2009 23
Table 19: Clean Technology, Top Private Equity Firms, Summary, Q4 2008 - Q3 2009 24
Table 20: Clean Technology, Top Private Equity Deals, Q3 2009 25
Table 21: Clean Technology, Partnerships, Deals Summary, Q3 2008-Q3 2009 26
Table 22: Clean Technology, Energy Generation, Deals Summary, Q3 2008-Q3 2009 30
Table 23: Clean Technology, Transportation, Deals Summary, Q3 2008-Q3 2009 32
Table 24: Clean Technology, Recycling & Waste Management, Deals Summary, Q3 2008-Q3 2009 34
Table 25: Clean Technology, Energy Efficiency, Deals Summary, Q3 2008-Q3 2009 35
Table 26: Clean Technology, WWM, Deals Summary, Q3 2008-Q3 2009 38
Table 27: Clean Technology, Energy Storage, Deals Summary, Q3 2008-Q3 2009 39
Table 28: Clean Technology, Material Management, Deals Summary, Q3 2008-Q3 2009 41
Table 29: Clean Technology, AIR & Environment Management, Deals Summary, Q3 2008-Q3 2009 43
Table 30: Clean Technology, Energy Infrastructure, Deals Summary, Q3 2008-Q3 2009 45
Table 31: Clean Technology, Manufacturing/Industrial, Deals Summary, Q3 2008-Q3 2009 47
Table 32: Clean Technology, Agriculture, Deals Summary, Q3 2008-Q3 2009 49
Table 33: Clean Technology, North America, Deals Summary, Q3 2008-Q3 2009 52
Table 34: Clean Technology, Europe, Deals Summary, Q3 2008-Q3 2009 54
Table 35: Clean Technology, Asia-Pacific, Deals Summary, Q3 2008-Q3 2009 56
Table 36: Clean Technology, Rest of the World, Deals Summary, Q3 2008-Q3 2009 58
Table 37: Clean Technology, Top Financial Advisors, M&A, Q4 2008 - Q3 2009 60
Table 38: Clean Technology, Top Financial Advisors, Equity Offerings, Q4 2008 - Q3 2009 62
Table 39: Clean Technology, Top Financial Advisors, Debt Offerings, Q4 2008 - Q3 2009 64

“Clean Technology Quarterly Deals Analysis Q3 2009” report is an essential source of data and trend analysis on the Mergers and Acquisitions (M&A) and financings in the clean technology market. The report provides detailed information on M&A, Equity/Debt Offerings, Private Equity, Venture Financing and Partnership transactions registered in the clean technology industry in Q3 2009. The report portrays detailed comparative data on the number of deals and their value in the last five quarters subdivided by deal types, segments, and geographies. Additionally, the report provides information on the top private equity, venture capital, and advisory firms in the clean technology industry.

Data presented in this report is derived from a proprietary in-house Clean Technology eTrack deals database and primary and secondary research.

Investments In The Clean Technology Industry Increased By 19%, While The Number of Deals Decreased By 20% In Q3 2009

The clean technology market saw an increase of 19% in investments to reach 70 billion in Q3 2009, compared to 59 billion in Q2 2009. This was primarily driven by new clean energy legislative activities and the enormous stimulus packages provided by various governments, including the United States and the United Kingdom. However, the number of deals decreased from 568 deals in Q2 2009 to 453 deals in Q3 2009, due to smaller number of large deals. On a year-on-year basis, the number of deals in the clean technology market fell by 28% in Q3 2009 from 632 deals in Q3 2008.

Mergers & Acquisitions In The Clean Technology Industry Increased Marginally In Q3 2009

Mergers and acquisitions, including asset transactions, in the clean technology market witnessed a marginal increase in investments to reach 164 deals in Q3 2009 compared to 163 deals in Q2 2009, driven by a rising appetite for acquisitions as a means to enhance their growth prospects in strategic and financial buyers. Other factors that increased M&A activity were the pursuance of growth options by major clean-tech companies driven by new climate and energy legislation from governments worldwide. However, M&A investments decreased from $8 billion in Q2 2009 to $6 billion in Q3 2009, a decrease of 25%. Further, the average size of M&A deals decreased from $153 million in Q2 2009 to $113 million in Q3 2009.

Majority of the M&A deals in the clean technology industry in Q3 2009 were recorded in the month of July 2009. Brookfield Renewable Power’s acquisition of hydroelectric and wind power plants for $815 million; Germany1’s agreement to acquire AEG Power Solutions for $756 million; and Veolia Environnement’s plan to sell Veolia Water UK for $657 million were some of the big-ticket M&A deals registered in July 2009.

In terms of the number of deals, the most active buyers were Siemens and Covanta Holding, with three and two transactions respectively in Q3 2009.
According to Arun Kumar C “The collective mindset of global corporations to capitalize on the opportunities that came with the global recession translated into higher number of M & A deals in Q3, 2009.Clean technology and renewable energy companies looked out for suitable target companies during the third quarter of 2009 and forged a slew of M & A deals for various reasons ranging from geographical expansion to market penetration to diversification to vertical integration among others.”

Increased Financing Through Debt Offerings

Debt offerings, including secondary offerings and private placements, became the most prominent among all financing activities in the clean technology market with over $50 billion raised from 62 deals in Q3 2009, compared to $39 billion raised from 140 deals in Q2 2009. The increase in investments can primarily be attributed to major companies like Iberdrola, Enel, and EDF, who raised over $20 billion in public debt offerings. Enel’s $3.6 billion private placement of bonds was one of the major debt offering deals reported in Q3 2009.

Furthermore, equity offerings, including IPOs, secondary offerings, and private placements, increased from $11 billion in Q2 2009 to $12 billion in Q3 2009. On a year-on-year basis, equity capital increased by 71% in Q3 2009 from $7 billion in Q3 2008.

According to Arun Kumar C “Global Corporations were quick to take notice of the increase in the risk-avoidance mentality of investors and opted for low-risk debt instruments to raise funds during the quarter three 2009. This has resulted in shift of balance from equity to debt instruments—debt offerings raised over $ 50 billion whilst equity offerings raised just $ 12 billion in Q3 2009.”

Increased Private Equity / Venture Capital (PE/VC) Funding For Clean Technology Companies In Q3 2009

Clean technology companies pulled more than $1.9 billion in private equity / venture-backed financing during Q3 2009, representing a 46% increase from the $1.3 billion invested in clean technology companies during Q2 2009. The number of private equity / venture capital deals also increased from 82 deals in Q2 2009 to 99 deals in Q3 2009. This was primarily driven by the successes that the PE/VC firms have experienced in the industry, as many of their portfolio companies have been acquired. The uptick was largely driven by a renewed interest in solar technologies. This segment garnered the greatest amount of funding during the third quarter of 2009, with $446 million raised in 26 deals.

Some major companies that squeezed out venture capital in Q3 2009 are EverPower Wind Holdings Inc., a developer of wind farms, which received $350 million from Terra Firma Capital Partners Limited; Solyndra, Inc., a provider of photovoltaic systems, which received $198 million from Argonaut Private Equity; and Waste Pro USA, Inc., a non-hazardous solid waste management company, which secured $100 million from Roark Capital Group.

Kleiner Perkins Caufield & Byers emerged as the top VC firm by providing financing for 15 clean technology companies during the last one year. The Quercus Trust ranked as the top PE firm by investing in nine clean technology companies during Q4 2008 - Q3 2009

According to Arun Kumar C “Over the third quarter of 2009, a flurry of ambitious solar project announcements from china and India and the revival of solar energy in Europe got the attention of PE/VC firms worldwide.PE/VC firms latched onto this renaissance of solar and other clean technologies phenomena and invested more than $ 1.9 billion during the Q3, 2009.This keen interest on solar projects across the globe has caused a near 50% increase in the funds between the second and third quarters of 2009.”

Investments Surge In Asia Pacific And Europe In Q3 2009

Clean technology investments in Asia Pacific and Europe increased throughout Q3 2009, despite the financial turmoil and grim economic conditions. The interest in deal making remained strong in these two regions, with Europe reporting investments of $39 billion and Asia Pacific registering investments of $10.2 billion in Q3 2009, an increase of 50% and 8% respectively over Q2 2009. Further, North America registered a marginal decrease in investments, due to the credit crisis that has affected overall liquidity. The region experienced a marginal decline in investments, with $20 billion reported in Q3 2009 as compared to $22 billion in Q2 2009.

According to Arun Kumar C “Asia Pacific has been relatively immune to the pangs of the global economic turmoil due to developing economies such as China and India. Chinese government’s stimulus package centered on infrastructure-upgrade projects proved to be a blessing in no disguise as it spurred investment flows into clean technology from international investors. China and India have laid-out plans to generate 20 GW of solar power by 2020 and 2022 respectively. European Union’s directives aimed at promoting renewable power and clean technology gave a fillip to the fund flows during the third quarter of 2009 explaining the surge in clean technology investment in the region.”

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