Transportation and Logistics M&A Update
- The Transportation & Logistic industry index increased by 8.4% in Q1 2023 and outperformed the S&P 500 index, which increased 7.5% in the same period.
- The median EV/EBITDA multiple for reported strategic deals increased to 7.3x in Q1 2023 from 5.3x in 2022, however no EV/EBITDA multiples were reported for PE deals in Q1.
- M&A deal volume in the T&L sector was down 14.3% to 234 completed transactions in Q1 2023 compared to 273 deals in Q4 2022, but increased 4.5% from 224 deals in Q1 of the prior year.
- Total capital invested decreased 55.9% to $9.7 billion in Q1 2023 from $22.0 billion in Q4 and 60.1% from $24.3 billion in Q1 of the prior year.
- Europe was the most active region in Q1 2023 with 111 deals. Most notably in the European market was the $427.6 million acquisition of Nokian Tyres by Tatneft Group in March 2023