Transportation and Logistics M&A Update
- The Transportation & Logistics Industry Index decreased by 11.0% in Q3 and was significantly outperformed by the S&P 500, which only declined 3.8% over the same period.
- The median EV/EBITDA multiple for reported strategic deals increased to 5.8x in YTD 2023 from 4.5x in 2022. There were no reported PE EV/EBITDA multiples in YTD 2023.
- M&A deal volume in the T&L sector increased 18.3% to 207 completed transactions in Q3 from 175 deals in Q2, but decreased 6.3% from 221 deals in the same period of the prior year.
- As a % of total capital invested in M&A transactions in YTD 2023, PE participation decreased significantly to 25.6%, down from 63.0% in 2022.
- Europe was the most active region in Q3 with 93 deals. Most notably in the European market was Abu Dhabi Ports Group’s $716.2 million acquisition of Noatum Logistics in July 2023.