Q2 2026 – Quarterly Market Recap
- M&A activity in the U.S. Transportation & Logistics sector stabilized with 28 closed transactions in Q2 2026, equal to Q2 2025 volumes. Global volumes softened, with 62 deals closed in Q2 2026, down from 82 in Q2 2025. Strategic buyers remain the most active, with earnings from improved spot rates increasing the capital available for strategic M&A.
- Structural cost and trade advantages enable U.S. acquirers to maintain steady deal activity, outperforming softer global M&A markets. Domestic carriers are benefiting from a meaningful fuel-cost edge, with European diesel running roughly 60% above U.S. levels as European operators contend with energy prices tied to Russia and Middle East supply risk. (1) Additionally, tariff-driven nearshoring is increasing freight activity in North America, with U.S.-Mexico cross-border freight rising 7.1% year over year, bolstering domestic volumes and buyer confidence. (1)
(1) Fuel-prices.eu, U.S. Bureau of Transportation Statistics
Read Transportation & Logistics M&A Pulse Q2 2026 Full Report
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.
Transportation & Logistics M&A Pulse – Q1 2025
In Q1 2025, U.S. Transportation and Logistics (“T&L”) M&A activity decreased 33.3% compared to the same period in 2024, finishing at 34 closed transactions