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 !
Execution
Excellence
Each assignment is managed by
one Team leader to optimize the process
We rely on our own proprietary
research
Our mandates are on an exclusivity
basis only, including fixed and success
fee
Our mandates are tailor-made
We manage 100% of the Transaction
coordinating the process
We deliver regular reports to optimize
the momentum
Our digital platform allows us to have
constant access to all the necessary
information
