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Global Transportation and Logistics Deals Insights - Q3 2018

Global investment activity continues to slow down amidst uncertainty around trade

Although FY18 continues to track ahead of FY17 in terms of volume and value of Transportation and Logistics (T&L) deals, Q3’18 was the lowest volume quarter of the last three years and approaching the lowest quarter in terms of deal value over the same period.

Passenger Ground was the only sub sector to show some M&A buoyancy, with deal activity almost doubling from Q218 and Q317, supported by the only mega deal of the quarter, the $6.8bn investor group acquisition of WestConnex Motorway in Australia.

This buoyancy was partially offset by a significant drop off in Shipping deal activity, following a period of extended consolidation and a decline in Logistics, coming off record levels of activity in Q218.

“Canada's Transportation & Logistics sector remained strong in Q3 2018, despite a global slowdown due in part to continued trade uncertainty. With USMCA signed at the end of the quarter, we'll be watching its impact to Canadian investment trends in the coming months.”

Eric Castonguay,
Partner, National Corporate Finance Leader

Trends and highlights

2017 trends and highlights

The Passenger Ground and Logistics sectors drove M&A activity this quarter. Together, these sectors accounted for 55% of total announced deal volume and 65% of total announced deal value.

There was one megadeal with a value greater than $5 billion announced this quarter: An investor group, comprised of AustralianSuper, Canada Pension Plan Investment Board (CPPIB), Sydney Transport Partners, and Tawreed Investments acquired a 51% interest in the WestConnex motorway project in Australia for $6.8 billion.


While strategic investments remain healthy, deals have scaled down in size as companies remain cautious to invest amongst the current global economic scenario.

Deal value remained positive over the last quarter, with average transaction value slightly increasing to reach $488.3 million.

Asia & Oceania continued to dominate deal activity with North America following second, amassing 23% of disclosed deal volume and 18% of disclosed deal value.

Contact us

D. Scott Collinson

D. Scott Collinson

National Transportation & Logistics Lead, PwC Canada

Tel: +1 416 687 8188

Eric Castonguay

Eric Castonguay

Deals Partner, National Corporate Finance Leader, PwC Canada

Tel: +1 416 815 5094

Anita McOuat

Anita McOuat

National Industry Leader, Technology, Media & Telecommunications & Consumer Markets, Partner, PwC Canada

Tel: +1 416 869 8667

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