M&A for logistics and trade in a restructuring market.
Post-pandemic supply chain restructuring has separated the resilient, multi-modal operators from the rest. E-commerce growth is driving sustained 3PL and fulfilment consolidation. Strategic and PE buyers are acquiring warehouse footprint, last-mile capability and specialist logistics. Novastrone advises logistics, freight, and trade business owners and acquirers through these decisions — where contract relationships, fleet strategy, and workforce continuity all shape what your business is worth to the right buyer.
Sectors we serve.
From freight forwarding to cold-chain and last-mile — each sub-sector has its own buyer pool, asset profile, and structural sensitivities.
- Freight forwarding
- Customs brokerage
- Third-party logistics (3PL)
- Warehousing & distribution
- Trucking & road freight
- Last-mile delivery
- Cold-chain logistics
- Cross-border trade & sourcing
- Import-export consulting
- Drayage & port services
- E-commerce fulfilment
- Specialised freight
What's driving M&A right now.
Supply chain restructuring on one side, e-commerce-driven 3PL consolidation on the other — and a steady premium for route density and tech-enabled operations.
- Supply chain restructuring post-pandemic creating clear winners.
- E-commerce growth driving 3PL and fulfilment consolidation.
- Strategic buyers acquiring warehouse footprint and last-mile capability.
- Cold-chain operators commanding premium multiples driven by food and pharma demand.
- Cross-border trade specialists (China, ASEAN, US trade lanes) attracting strategic interest.
- PE entry into route-density and tech-enabled logistics businesses.
What buyers actually pay for.
Vehicles and warehouses are the visible assets. The real value sits in contracts, modal coverage, and the technology binding it all to customer systems.
- Customer contracts — length, renewal terms, exclusivity
- Asset utilisation across vehicles and warehouse capacity
- Geographic and modal coverage
- Technology stack — TMS, WMS, customer integrations
- Driver and warehouse workforce retention, EBA exposure
- Property strategy — owned, leased, lease tenor
- Specialised capability — cold-chain, dangerous goods, e-commerce SLAs
Tech-enabled, contracted-revenue operators sit at the premium end of the multiple range.” The route-density premium
Common structures, and the traps that come with them.
Property, fleet, customer retention — the logistics-specific levers that quietly determine what completes and what doesn't.
- Property typically a separate transaction — sale-leaseback or excluded asset.
- Vehicle and equipment finance assumed or refinanced.
- Earn-outs tied to customer retention (12–24 months).
- Rollover equity in PE-backed platform acquisitions.
- Working capital adjustments for fuel, parts, accruals, and customer retentions.
- Customer concentration with one major retailer or e-commerce platform.
- Driver classification risk — contractor vs. employee status.
- Aged fleet requiring imminent replacement.
- Lease tenor mismatched to deal life.
- Insurance and risk-management gaps — cargo, public liability, cyber.
Start a confidential conversation.
Whether you're an owner being approached by a platform, or a strategic acquirer building footprint — a confidential first call is the right place to begin.
Request a confidential consultation