1. M&A TRENDS IN THE
TRANSPORT & LOGISTICS SECTOR
BUY SIDE – FUNDRAISING – SELL SIDE
OCTOBER 2022
2. 2
P R I V A T E & C O N F I D E N T I A L
TABLE OF CONTENT
The dynamic M&A activity in the T&L sector 03
M&A Trends valuation & Recent transactions 06
About GEREJE Corporate Finance 14
Our Buy-side methodology 10
3. 4
P R I V A T E & C O N F I D E N T I A L
After the COVID-19 crisis, we notice a quick recovery in number of M&A deals in Transport & Logistics
(T&L).
Source: PwC, GCF Research
Boom of E-commerce strengthen by the covid
crisis
§ Requires the deployment of inventory closer to the consumer,
i.e. more warehouse space & investments in technology,
including freight management platforms, automation &
fulfillment
Diversification has become a necessity
§ The Covid crisis highlighted the need for T&L players to
diversify their modes of transport : road, water, rail, or air to
prevent risks
High demand for physical goods & limited
capacity (during COVID crisis)
§ Have pushed freight rates to record levels
§ With higher earnings comes higher cash flow and some
strategic players have now cash to deploy
Key drivers
38,6% 41,4% 36,2%
27,9% 27,1%
23,9%
10,4% 7,2%
7,9%
14,6% 16,3%
15,1%
8,6% 8,0%
17,0%
2019 2020 2021
% of deals by transaction
value/year
<10m$ 10-50m$
50-100m$ 100-500m$
1 142
1 010
1 156
2019 2020 2021
Number of T&L deals
(2019-2021)
Number of deal
4. 5
P R I V A T E & C O N F I D E N T I A L
According to a study from Deloitte : between 2018 and 2021, 40% of deal were cross-border
Key trends
Internationalization being a strategic issue for
all logistic players
58% 59%
67%
61%
27%
31%
24%
28%
15% 10% 9% 12%
0%
50%
100%
2018 2019 2020 2021
Cross border deals (2018-2021)
Cross border - non European buyer
Cross border - European buyer
Same country
Cross border deals should continue to drive the
market
5. 22
P R I V A T E & C O N F I D E N T I A L
OUR PROVEN METHODOLOGY
GEREJE is recognized for the quality of its documents (strategic & financial analysis) based on
personalized execution, enhanced by a multidisciplinary team acting under one hat !
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one Team leader to optimize the process
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fee
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coordinating the process
We deliver regular reports to optimize
the momentum
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constant access to all the necessary
information