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Deal activity in the transportation and logistics (T&L) sector remained consistent in early 2025 as compared to the same period in 2024. In the United States, deal volume was muted as companies navigated sustained macroeconomic pressure, policy shifts and geopolitical volatility. T&L leaders are prioritizing strategic alignment over volume with subsectors like airfreight, logistics, and marine ports and terminals attracting the most interest.
Recent headline deals like BlackRock’s proposed $22.8 billion acquisition of CK Hutchison’s global ports business underscore growing institutional interest in ports. Meanwhile, UPS’s planned $1.6 billion acquisition of Andlauer Healthcare Group reflects the push into growth-oriented segments like healthcare.
These and similar transactions suggest dealmakers continue to pursue scale, specialization, and global expansion where demand signals remain strong.
Key trends year to date:
Note: The source used in the 2025 midyear outlook is S&P Global Market Intelligence.
Tariffs, foreign policy, interest rates and geopolitical tensions remain key variables influencing T&L deal activity. Greater clarity on trade policy — including defined tariff structures and an actionable framework — could unlock renewed momentum. In contrast, persistent uncertainty is likely to keep dealmakers in a holding pattern. In either scenario, shifts in tariff policies could reshape the competitive landscape, creating winners and losers across regions and transportation modes.
Key watchpoints include:
“The transportation and logistics sector is acutely sensitive to tariff shifts, which often stall deal activity amid uncertainty — yet for discerning investors, this volatility can present rare opportunities to unlock long-term value.”
Darach Chapman,US Transportation and Logistics Deals LeaderTransportation and logistics M&A activity in 2025 will depend heavily on improved policy clarity and macroeconomic stability. While recent volatility has tempered near-term dealmaking, strong underlying drivers — like sponsor exit pressure, abundant dry powder and portfolio realignment — point to a resilient pipeline. Investors with a clear deal thesis and a focus on long-term value creation will be well positioned as the sector begins to rebound.