KeyBank

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Tremendous Growth in Renewables Spawns a Greener Middle Market

M&A activity in North America Value of all deals  in billions of dollars. Jan 2020 – $135.1 Billion   Feb 2020 – $175 Billion   March 2020 – $216 Billion     Jan 2021 – $188.6 Billion   Feb 2021 – $207.5 Billion   March 2021 – $321.9 Billion         The same periods during 2008–2009   Jan 2008 – $74.1 Billion   Feb 2008 – $98.8 Billion   Mar 2008 – $73.7 Billion     Jan 2009 – $101 Billion   Feb 2009 – $15.3 Billion    March 2009 – $92.5 Billion

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Why Middle-Market M&A Could Break Records This Year