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    Transportation & Logistics Q1 2022

    Q1 2022 Transportation Logistics

    Largest Transactions Closed

    • Target
    • Buyer
    • Value($mm)
    • Intermodal Business of XPS Logistics in North America
    • STG Logistics, Inc
    • $710.00
    • Whiplash Inc.
    • Ryder System, Inc.
    • $480.00
    • Substantially All of the Assets of Zenith Freight Lines, LLC
    • J.B. Hunt Transport, Inc.
    • $86.94
    • Limetree Bay Terminals, LLC
    • West Indies Petroleum Limited; Port Hamilton Refining and Transportation, LLLP
    • $62.08
    • AAT Carriers, Inc.
    • Covenant Logistics Group, Inc.
    • $55.00

    Other Financial Buyer Transactions Closed

    • Target
    • Buyer
    • Value($mm)
    • Buske Lines, Inc.
    • Fourshore Partners
    • n/a
    • APP Jet Center
    • Ridgewood Infrastructure LLC
    • n/a
    • Orange Rail Inc.
    • Connor, Clark & Lunn Infrastructure Ltd.; Alpenglow Rail LLC
    • n/a
    • Magnate Worldwide, LLC
    • Littlejohn & Co., LLC
    • n/a

    Other Strategic Buyer Transactions Closed

    • Target
    • Buyer
    • Value($mm)
    • FASCOR, Inc./LCS, Inc.
    • Hy-Tek Material Handling Inc.
    • n/a
    • Rightaway Delivery LLC
    • Dropoff, Inc.
    • n/a
    • Smartway Transportation, Inc.
    • Transport Investments, Inc.
    • n/a
    • Performance Logistics, LLC
    • Direct Connect Logistix, Inc.
    • n/a
    • Arnold Transportation Services, Inc.
    • Pride Group Logistics Ltd.
    • n/a
    • West Air, Inc.
    • Empire Holdings, Inc.
    • n/a


    Source S&P Capital IQ as of 4/6/2022 and PCE Proprietary Data

    PCE Transactions

    eBook- Keys to Selling Your Transportation Business


    eBook- Keys to Selling Your distribution Company

    Woody Whitcomb

    Orlando Office


    Michael Rosendahl

    New York Office

    201-444-6280 Ext 1

    Data Assumptions

    This report represents transaction activity as mergers & acquisitions, consolidations, restructurings and spin-offs. Targets are defined as U.S. Based companies with either foreign or U.S. based buyers. Transaction information provided is based on closed dates only.


    EBIT - Earnings Before Interest and Taxes
    EBITDA - Earnings Before Interest, Taxes, Depreciation, Amortization
    LTM - Last Twelve Months
    TEV - Total Enterprise Value


    1. Berger, Paul. “Southern California’s Ports Are Catching Their Breath During Import Lull.” Logistics Report, The Wall Street Journal, 10 Mar. 2022.
    2. Sindreu, Jon. “Supply-Chain Obsession Is a Prime Day Gift for Amazon Air.” Heard on the Street, The Wall Street Journal, 16 Mar. 2022.
    3. Colias, Mike. “Ford Creates Separate EV, Gas-Engine Divisions in Major Overhaul.” Autos Industry, The Wall Street Journal, 2 Mar. 2022.
    4. Paris, Costas. “Why the World’s Biggest Ocean Shipping Lines Are Buying Cargo Planes.” Business, The Wall Street Journal, 4 Feb. 2022.
    5. Berger, Paul. “White House Pushes Supply-Chain Operators to Share Data” Logistics Report, The Wall Street Journal, 15 Mar. 2022.

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