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    Transportation & Logistics Q3 2022

    Q3 2022 Transportation Logistics

    Largest Transactions Closed

    • Target
    • Buyer
    • Value($mm)
    • Deliverr, Inc.
    • Shopify Inc.
    • $2,100.00
    • Transportation Resources, Inc.
    • Heartland Express, Inc.
    • $525.00
    • USA Truck, Inc.
    • Schenker, Inc.
    • $473.31
    • TAGG Logistics, LLC
    • Hub Group, Inc.
    • $103.00

    Other Financial Buyer Transactions Closed

    • Target
    • Buyer
    • Value($mm)
    • The InStar Group, LLC
    • J.P. Morgan Asset Management, Inc.
    • n/a
    • United Road Towing, Inc.
    • Mill Point Capital LLC
    • n/a
    • Sunset Pacific Transportation, Inc.
    • PGIM Private Capital; Red Arts Capital
    • n/a

    Other Strategic Buyer Transactions Closed

    • Target
    • Buyer
    • Value($mm)
    • Firebird Bulk Carriers, Inc./Phoenix Oil, Inc.
    • GulfMark Asset Holdings, Inc.
    • $48.88
    • Substantially All Assets of the Sand Hauling Business of Continental Intermodal Group LP
    • NexTier Oilfield Solutions Inc.
    • $31.67
    • Freight Connections
    • Transportation and Logistics Systems, Inc.
    • $9.90


    Source S&P Capital IQ as of 10/13/2022 and PCE Proprietary Data

    PCE Transactions

    eBook- Keys to Selling Your Transportation Business


    eBook- Keys to Selling Your distribution Company

    Michael Rosendahl

    New York Office

    201-444-6280 Ext 1

    Michael Poole

    Orlando Office


    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. Prang, A. “Labor Day Is First Holiday to Top Prepandemic Travel Levels.” Wall Street Journal, 6 September, 2022.
    2. Berger, P. “Port Labor Talks Stall as Worker Disruptions Grow.” Wall Street Journal, 19 September, 2022.
    3. Thomas, K. and “U.S. Railroad Strike Averted as Tentative Deal Is Reached, Biden Says.” Wall Street Journal, 15 September, 2022.
    4. Paris, C. and Katz, B. “Big Ocean Shipping Lines Turn to Planes as Supply-Chain Snarls Deepen.” Wall Street Journal, 19 September, 2022.
    5. Vartabedian, M. “Venture Firm VMG Catalyst Raises $400 Million Logistics-Focused Fund.” Wall Street Journal, 3 August, 2022.
    6. Kearney, L. “Oil prices continue rise on cuts to OPEC+ production targets.” Reuters, 6 October, 2022.

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