September 2023 Acquisitions
Global Logistics M&A Recap in Partnership with Ti Insight
Europe accounted for the largest number of acquisitions (by target location), with 46.2% of total M&A activity made in this region. The Netherlands was the most attractive destination for acquisitions, accounting for 12.8% of total M&A activity in September. Overall, North America and Europe accounted for most of the acquisitions in September, with a combined 84.6% of acquisitions.
"...Financial buyers, albeit seemingly still more cautious and impacted by high-interest rates, are increasingly reentering the logistics space as the industry stabilizes and a “new normal” is taking shape in the current down-market..."
- Mikael Olesen, Managing Director at Logisyn Advisors
"...While 2023 has been a “down” year for most logistics markets in the U.S., the southern border has seen an increase in activity. As one would expect, that has led to heightened interest in southern border logistics companies...Our team has been seeing an increasing degree of interest from buyers interested in the U.S. Southern border, Mexico, and the broader LATAM region..."
- Jan H. Raymond, Managing Partner at Logisyn Advisors
"The most interesting logistics tech acquisition of September was Logility’s acquisition of Garvis which significantly enhances their AI-driven supply chain planning capabilities. The acquisition integrates Garvis's strengths in demand planning, demand sensing, and causal forecasting via Generative AI into Logility's existing solution suite..."
- Max Ibata-Arens, Executive Sponsor at Logisyn Advisors
"This month, GXO Logistics made significant strides in expanding its e-commerce operations with the $181m acquisition of PFSweb, a global e-commerce fulfillment company with DCs in the US, Canada and Europe. It is the latest in a string of acquisitions in the e-commerce logistics space as major logistics players seek to acquire specialist logistics operations to meet specific fulfillment and omnichannel requirements of clients"
- Paul Chapman, Senior Editor at TI