Deal values in transportation and logistics rise as buyers target scarce AI and automation capabilities over traditional scale.
Transportation and logistics deal values jumped in the second quarter, driven by buyers prioritizing specialized assets like AI and automation over network expansion. The average deal size for transactions over $50 million surged 321% since 2023, though the $85 billion Union Pacific-Norfolk Southern merger skewed the growth rate.
Deal values totaled $39 billion in the first two months of Q2, up from $34 billion in Q1 and $29 billion in Q4. Buyers are targeting providers in temperature-controlled logistics, healthcare, reverse logistics, and cross-border infrastructure, paying higher multiples for hard-to-replicate capabilities.
An easing regulatory environment and demand for efficiency gains are fueling the shift, with companies seeking to boost shipment volumes without adding labor or equipment.