The transportation and logistics sector is experiencing renewed strength, driven by easing inflation, improving financial conditions, and stabilizing supply chains. The outlook for 2024 remains positive with investors eager to deploy capital, abundant opportunities for industry consolidation, and strategic investors seeking diversification to enhance customer value propositions and protect against market cyclicality.
Q1 2024 – Market Summary & Outlook
- In Q1 2024, US and Global Transportation and Logistics (“T&L”) M&A activity experienced 51 completed transactions in the United States and 134 globally, representing a 14% and 20% decline, respectively, from the same period in 2023. The most active segments were Third Party Logistics and Asset Heavy Trucking, accounting for nearly 40% and 24%, respectively, of US M&A activity in Q1 2024.
- The slowdown in M&A activity in 2023 and into 2024 was largely driven by reduced activity among strategic buyers, who faced volatility in freight pricing following the post-COVID shipping bottlenecks that had initially elevated freight prices industry-wide. Despite the year-over-year decline in M&A activity, Q1 2024 saw a 42% increase in US activity compared to the previous quarter, signaling a potential rebound.
- Significant and consistent demand, further industry consolidation, and improved economic sentiment continue to provide positive tailwinds for the overall middle-market M&A outlook for 2024. Amid geopolitical tension and economic uncertainty, the T&L sector remains resilient and open as buyers continue to re-engage.
Read Transportation & Logistics M&A Pulse Q1 2024 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 – Q1 2025
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
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.