Q2 2026

Transportation & Logistics M&A Update

In Q2, the T&L Industry Index increased by 21.6% and outperformed the S&P, which increased 14.0% over the same period.
The median EV/EBITDA multiple for reported strategic deals in the T&L sector decreased to 7.4x in 1H 2026 from 12.7x in the prior year.
M&A deal volume in the sector increased 14.6% in Q2 to 314 deals from 274 in Q1, and increased 25.6% from 250 deals in Q2 of the prior year.
Europe was the most active region in Q2 with 144 deals in the T&L sector. Most notably in Europe was I Squared Capital’s $2.9 billion buyout of Ramudden Global, a Swedish provider of temporary traffic control equipment, in May 2026.
Total capital invested in M&A transactions increased 209.8% in Q2 to $44.3B from $14.3B in Q1, due primarily to several largesized transactions including a consortium’s $27.0 billion acquisition of Air Lease Corp in April 2026.