Q2 2021

Transportation and Logistics M&A Update

The Transportation & Logistics (“T&L”) industry index rose 23.0% in 1H 2021 and outperformed the S&P 500 index, which increased 16.1% in the same period
Total capital invested in M&A transactions in 1H 2021 in the T&L sector increased 87.2% to $35.0 B from $18.7 B in the same period of the prior year
PE investors contributed 60.1% of total capital invested compared to 39.9% for strategic buyers in the T&L sector
The $6.2 Billion Hertz (PINX: HTZZ) reorganization by Apollo Global Management (NYS: APO), Certares, and Knighthead Capital Management on May 14, 2021 represented the largest transaction in the U.S. this quarter
Stock prices and valuation multiples trended higher in Q2 2021 from prior year levels

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