|At least 41 deal announcements in September 2022 of European targets included comments that indicated that environmental, social and governance themes were rationales for the transactions or discussed the parties’ commitment to ESG or sustainability, according to Mergermarket data. This amounted to 3.9% of all deal announcements for the month.|
In September, the industrials sector continued to be the most active for ESG, accounting for about 29% of transactions, but the TMT sector has almost caught it up with 27% of deals in Europe.
Here are our editor’s picks of Europe’s top 5 key ESG-driven deals in September:
Schneider Electric [EPA:SU] agreed to take over 100% of UK-listed technology group Aveva [LON:AVV] at an implied GBP 10.1bn enterprise value, saying that the acquisition will boost its capacity to digitise customers’ operations and help them reduce energy, carbon and resource intensity.
EIG said it is buying 25% of energy group Repsol’s [BME:REP] global upstream activities for USD 4.8bn and that it would keep working with the Spanish company to continue building its ESG best practices.
UK waste management company Biffa [LON:BIFF] agreed a GBP 1.3bn offer from Energy Capital Partners, which pointed to the target’s leading position in sustainable waste management.
Ariston [BIT:ARIS] said it has acquired Germany-based Centrotec’s [CEV:HM] subsidiary Centrotec Climate Systems for EUR 703m cash and around 41m shares in order to boost its sustainable heating systems offering and advance its ESG objectives.
Tetra Tech [NASDAQ:TTEK] agreed to acquire UK-listed consultancy peer RPS [LON:RPS] for around GBP 610m in order to establish “a premier global consultancy in water, environment, sustainable infrastructure, and energy transformation”.
This is a redacted version of the Europe ESG Deal Digest. The digest is a roundup of M&A deal and private placement announcements from the preceding month that directly mention the acronym ESG or the word sustainability. Deal announcements are sourced from Mergermarket. If you have any feedback on the digest, please email email@example.com.