Jeremy Fago is PwC’s U.S. energy, utilities and mining deals leader.
PUF talks with Jeremy Fago, PwC's leader on U.S. Energy, Utilities and Mining Deals, on a regular basis to stay up-to-date on the latest on the financial goings on in the energy and utilities industry. Fago never fails to illuminate the points of great consequence.
PUF last spoke with Fago in February of this year, looking at how the pandemic caused an internal refocus at most companies, as Fago explained what that meant for M&A. Here you find a discussion on what to expect in M&A moving forward. It might not be what you expect.
PUF's Steve Mitnick: What's going on in the mergers and acquisitions front in energy and utilities?
Jeremy Fago: It's a continuation of some of what we've talked about in the past. There was an anticipation we would see a massive slowdown last year with the pandemic, but we really didn't see that as a result of the pandemic, specifically.
The industry went through massive consolidation in the latter part of the last decade. We anticipated a slowdown in some of the big deals, because a lot of those deals were done for future organic purposes, where platforms were purchased, where there was opportunity for growth, and deployment of capital into the long-term.