UK financial services industry saw a drop of 2.56% in overall deal activity during February 2021, when compared with the last 12-month average, led by Ontario Municipal Employees Retirement System’s $375m acquisition of Brit, according to GlobalData’s deals database.

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A total of 38 deals worth $807.82m were announced in February 2021, compared with the 12-month average of 39 deals.

M&A was the leading category in the month in terms of volume with 27 deals, which accounted for 71.05% of all deals.

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In second place was venture financing with six deals, followed by private equity with five transactions, respectively accounting for 15.8% and 13.2% of overall deal activity in the UK technology industry during the month.

In terms of value of deals, M&A was the leading deal category in the UK financial services industry with total deals worth $596.14m, while private equity and venture financing deals totalled $192.83m and $18.84m respectively.

UK financial services industry deals in February 2021: Top deals

The top five financial services industry deals accounted for 97.01% of the overall value during February 2021.

The combined value of the top five financial services deals stood at $783.63m, against the overall value of $807.82m recorded for the month.

The top five financial services industry deals of February 2021 tracked by GlobalData were:

1) Ontario Municipal Employees Retirement System’s $375m acquisition of Brit

2) The $198.49m acquisition of Nucleus Financial Group by James Hay

3) BlackRock Real Assets’ $125.29m private equity deal with Legal & General Group

4) The $67.54m private equity deal with Schroder UK Public Private Trust by Rosetta Capital VI

5) JTC’s acquisition of INDOS Financial for $17.3m.