Bank of America, JP Morgan top M&A advisors in construction sector

Bank of America and JP Morgan have emerged as the top merger and acquisition (M&A) financial advisors in the construction sector during the first quarter in terms of value and volume respectively, according to GlobalData, a leading data and analytics company.

Bank of America played an advisory role in six M&A transactions worth $21.9 billion, while JP Morgan was involved in 8 deals worth $5 billion, stated GlobalData in its League Tables which ranks advisiors in several categories by the total value and volume of merger and acquisition (M&A) deals they advised on in Q1 2022.

According to the ‘Global and Construction M&A Report Financial Adviser League Tables Q1 2022, a total of 1,048 M&A deals worth $91.4 billion had been announced in the sector during Q1 2022.

Aurojyoti Bose, Lead Analyst at GlobalData, said: "Bank of America is the only adviser that managed to surpass the $20 billion mark during Q1 2022. Of the six deals advised by Bank of America, five were billion-dollar deals that also included two deals valued more than $5 billion. The firm’s involvement in these big-ticket deals helped it to top the chart by value. Moreover, it also occupied the third position by volume."

"Similarly, JP Morgan, apart from leading by volume, also occupied the second position by value as it managed to advise on five billion-dollar deals," she added.

An analysis of GlobalData’s Financial Deals Database reveals other high rankers by value included JP Morgan, with deals worth $19.7 billion; Citi, with $16 billion; Goldman Sachs, with $13.2 billion; and Bank of Nova Scotia, with $11 billion. By volume, Rothschild & Co occupied the second position, with seven deals; followed by Bank of America, with six deals; Lazard, with six deals; and Clearwater International with six deals.

Among legal advisors for M&A transactions in construction sector, Fried, Frank, Harris, Shriver & Jacobson and Kirkland & Ellis topped the list by value and volume for Q1 respectively.

Fried, Frank, Harris, Shriver & Jacobson achieved the top ranking by advising on $16 billion worth of M&A deals, while Kirkland & Ellis led by volume, having advised on a total of 10 deals.

Bose said Kirkland & Ellis was the only adviser to register a double-digit deal volume for Q1. Moreover, its involvement in three billion-dollar deals helped it to occupy the sixth position by value.

"Meanwhile, Fried, Frank, Harris, Shriver & Jacobson advised on four billion-dollar deals* that also included one deal valued at more than $5 billion. The firm, apart from leading by value, also occupied the fifth position by volume," she added.-TradeArabia News Service