UK financial services industry saw a rise of 12.20% in overall deal activity during July 2021, when compared with the last 12-month average, led by Lloyds Banking Group’s $541.39m acquisition of Embark Group, according to GlobalData’s deals database.

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A total of 46 deals worth $2bn were announced in July 2021, compared with the 12-month average of 41 deals.

M&A was the leading category in the month in terms of volume with 29 deals, which accounted for 63.04% of all deals.

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In second place was venture financing with 14 deals, followed by private equity with three transactions, respectively accounting for 30.4% and 6.5% 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 $1.3bn, while venture financing and private equity deals totalled $428.4m and $300m, respectively.

UK financial services industry deals in July 2021: Top deals

The top five financial services industry deals accounted for 81.4% of the overall value during July 2021.

The combined value of the top five financial services deals stood at $1.66bn, against the overall value of $2bn recorded for the month.

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

1) Embark Group $541.39m acquisition deal with Lloyds Banking Group

2) The $387.17m acquisition of Charles Stanley Group by Raymond James Financial

3) LMAX $300m private equity deal for 30% stake in J.C. FlowersLLC

4) The $180m venture financing of Soldo Financial Services by Accel,Battery Ventures,Citi Ventures,Dawn Capital,Sunley House Capital Management and Temasek Holdings (Private)

5) Seraphim Capital $247.33m acquisition deal with Richard Branson