Q3 2026 – Quarterly Transportation & Logistics Market Recap
- U.S. Transportation and Logistics M&A posted a strong quarter with 36 deals closed in Q3 2026, up from 33 deals in Q3 2025. Global volumes softened with 78 deals in Q3 2026, a decline from 86 deals closed in the same period last year. Heightened financial sponsor activity was a key driver of U.S. deal flow with eight transactions posted in Q3 2026, double the volume in Q3 2025.
- Improving freight demand is supporting T&L dealmaking, with the Cass Freight Index recording 1.9% year-over-year shipment growth by end of Q3 2026, its second consecutive month of growth following a prolonged downturn. (1) For middle-market acquirers, strengthening shipments support acquisitions that add complementary customers and network density, creating opportunities to improve asset utilization and spread operating costs across more volume.
(1) Cass Information Systems
Read Transportation & Logistics M&A Pulse Q3 2026 Full Report
Transportation & Logistics M&A Pulse – Q2 2026
M&A activity in the U.S. Transportation & Logistics sector stabilized with 28 closed transactions in Q2 2026, equal to Q2 2025 volumes.
Transportation & Logistics M&A Pulse – Q1 2026
In Q1 2026, T&L public sector performance grew 9.8 percent, significantly outperforming the S&P 500, which posted a decline of 4.6 percent.
Transportation & Logistics M&A Pulse – Q4 2025
U.S. M&A activity in the Transportation and Logistics (“T&L”) sector declined sharply in 2025, totaling 121 transactions, down 28% from 168 transactions in 2024. Strategic buyers largely paused acquisition activity amid an exceptionally fluid policy environment, including heightened trade uncertainty.
Transportation & Logistics M&A Pulse – Q3 2025
M&A activity in the U.S. Transportation and Logistics sector has softened, with 131 closed transactions in the trailing twelve months ending Q3 2025, compared to 168 in 2024 and 170 in 2023.
Transportation & Logistics M&A Pulse – Q2 2025
M&A activity in the U.S. Transportation and Logistics sector has softened, with 148 closed transactions in the trailing twelve months ending Q2 2025, compared to 167 in 2024 and 170 in 2023.