Q1 2025 – Market Summary & Outlook
- In Q1 2025, U.S. Transportation and Logistics (“T&L”) M&A activity decreased 33.3% compared to the same period in 2024, finishing at 34 closed transactions
- Globally, T&L M&A transaction volume declined 19.5% from the 133 deals closed in Q1 2024 to 107 deals in Q1 2025. Europe and North America accounted for 43.0% and 36.4% of deal volume, respectively
- Excess capacity in the trucking markets led to suppressed trucking rates in 2023 and placed pressure on M&A activity and earnings. The number of operating carriers dropped ~339k in 2024, which reduced capacity and potentially signals an increase in freight rates(1)
Sources:
(1) Fleet Owner
Read Transportation & Logistics M&A Pulse Q1 2025 Full Report
Transportation & Logistics M&A Pulse – Q4 2025
U.S. M&A activity in the Transportation and Logistics (“T&L”) sector declined sharply in 2025, totaling 121 transactions, down 28% from 168 transactions in 2024. Strategic buyers largely paused acquisition activity amid an exceptionally fluid policy environment, including heightened trade uncertainty.
Transportation & Logistics M&A Pulse – Q3 2025
M&A activity in the U.S. Transportation and Logistics sector has softened, with 131 closed transactions in the trailing twelve months ending Q3 2025, compared to 168 in 2024 and 170 in 2023.
Transportation & Logistics M&A Pulse – Q2 2025
M&A activity in the U.S. Transportation and Logistics sector has softened, with 148 closed transactions in the trailing twelve months ending Q2 2025, compared to 167 in 2024 and 170 in 2023.
Transportation & Logistics M&A Pulse – Q4 2024
In 2024, U.S. Transportation and Logistics (“T&L”) M&A activity was relatively flat compared to 2023, compressing 2.9 percent representing 165 closed transactions in 2024.
Transportation & Logistics M&A Pulse – Q3 2024
In Q3 2024, US Transportation and Logistics (“T&L”) M&A activity surpassed Q3 2023 levels, with 50 transactions closed.