North American M&A Report

In 2020, North American M&A deal value dipped below the $2.0 trillion mark for just the second time since 2015. PitchBook’s 2020 Annual North American M&A report reviews the winners and losers in a roller coaster year. The soaring NASDAQ, proliferation of special purpose acquisition company (SPAC) IPOs and deals, and a steady stream of high-profile deals all attest to the resiliency of high-growth sectors—especially technology—during the pandemic downturn. Financial services and healthcare also closed out the year with significant deal activity. By contrast, the energy sector, battered by plunging demand, experienced its worst M&A year since 2009. Finally, although carveout activity was down in 2020, we expect to see more divestitures across industries in the months ahead, with private equity playing a growing role on the buy side.