November 2023 Acquisitions

Global Logistics M&A Recap in Partnership with Ti Insight

North America accounted for the largest number of acquisitions (by target location) in November 2023, with 44% of total M&A global activity in this region. The United States was the most active in terms of acquisitions (by target location), accounting for 15 acquisitions, or 35% of acquisitions recorded. Europe accounted for 13 acquisitions, or 30% of the total. In terms of target services, Logistics (warehousing & distribution) was the most frequent, with 39% of transactions, followed by Transportation (18.6%) and Logistics Software (16.3%).

"...Who would win the bidding war for Convoy’s tech stack was the acquisition everyone in the industry was watching. The eventual winner being Flexport. This is an interesting acquisition for Flexport as it signals a coming focus on the domestic market, a market that is currently seeing fierce competition amongst vendors and brokers..."

- Max Ibata-Arens, Executive Sponsor at Logisyn Advisors

"...Our coverage of the 43 M&A transactions reported in November 2023 places a spotlight on Canada Cartage’s acquisition of GTI Group. While there are numerous reasons why this transaction is both very strategic and noteworthy, it highlights key trends occurring in the transportation and logistics sector, such as geographic expansion across borders, patience, and using M&A to extend coverage and service capabilities..."

- Nick Lanza, Buy-Side Director at Logisyn Advisors

"...Around 15% of acquisitions were logistics software-related, highlighting the important role that technology plays in the logistics industry. Companies are expanding their logistics software capabilities by acquiring entities that bring new and diverse service offerings covering specific aspects of the supply chain. This trend suggests a strategic move toward providing comprehensive solutions that cover various aspects of the logistics and supply chain..."  - Paul Chapman, Senior Editor at Ti