M&A Market Reviews: Logistics and Supply Chain sector

A more stable environment driving investment appetite

The expectation of a more stable economic environment brings a more positive outlook which is supported by the significant deals we have seen announced this year and the continued investment in technologies aimed at driving further efficiencies.

Key updates from Q2: 

  • 21 deals completed in Q2, where 76% of the deals were trade deals
  • 38% of deals in Q1 were cross-border
  • 33% of deals were tech-related

Download our report for: 

  • What’s happening in the UK logistics sector this quarter 
  • How a new political landscape may bring about change
  • An overview of recent transactions in the market

READ OUR Q2 SNAPSHOT


GXO acquires Wincanton

US-based logistics company GXO successfully acquired Wincanton for a consideration of £762m realising an approximate EBITDA multiple of 7x. The acquisition will allow GXO to provide additional services to current and new customers across a wider market, whilst also harnessing their high-quality technology to become a prominent leader.

Biofortuna acquires Cryoniss

UK temperature-controlled storage and logistics management services for pharmaceutical and biotechnology companies, Cryoniss Ltd, has been acquired by UK based molecular diagnostics company, Biofortuna. It is believed the acquisition of Cryoniss will allow Biofortuna to benefit from Cryoniss’ expertise and infrastructure in temperature-controlled biological sample storage.

Inchcape Shipping Services continues its international growth 


Following the acquisition by private equity firm Epiris in May 2022, UK based Inchcape has been on a buy and build strategy.


Inchcape have already acquired businesses in Belgium, New Zealand and Norway and in Q2 acquired another Norwegian Logistics business Grieg Logistics, provider of logistical services for energy, production and the maritime industry.

Descartes System Group acquires BoxTop Technology

Descartes Systems Group, an acquisitive Canadian logistics technology firm, has successfully acquired BoxTop Technology, UK provider of shipment management solutions, for £10m.

BoxTop Technology has been a long-standing partner of Descartes, integrating the Group’s Global Logistics Network to enhance their customer support. Descartes anticipates that the acquisition will enable further integration of BoxTop’s offering with the Descartes Global Logistics Network, thereby extending their reach across various European markets.

Read our Q2 2024 Snapshot