Europe’s Transport & Logistics industry is experiencing a sweeping transformation, influenced by long‑term structural shifts such as the transition to low‑carbon operations, tightening regulatory demands, limited capacity across networks, and customers who now expect rapid, transparent and fully connected logistics solutions. These pressures are accelerating investment in modern fleets, automation technologies, digital ecosystems and high‑value service offerings — creating clear advantages for operators with strong networks and superior execution capabilities.
Within this environment, mergers and acquisitions have become a key strategic mechanism for companies seeking to evolve quickly. Consolidation is enabling players to extend their reach into new geographies, reinforce capabilities along the logistics chain and build more resilient operating models. Well‑designed transactions are helping companies diversify their services, boost operational efficiency and transparency, and secure the technological and ESG‑driven investments that the market increasingly demands.
From 2023 to 2025, M&A activity across Europe remained consistently strong. Completed deals rose from 479 in 2023 to 515 in 2024, and remained elevated at 508 in 2025 — still notably above pre‑COVID benchmarks. Cross‑border activity has remained remarkably stable, accounting for roughly 45%–48% of all deals, emphasizing the sector’s inherently international scope and the strategic importance of building scale beyond home markets.
The report provides a comprehensive look at valuation trends and recent dealmaking across several major subsectors, including road transport (with cold chain operations), marine freight and inland barging, warehousing logistics, freight forwarding and last‑mile delivery. Although valuation multiples have eased from previous highs, premium assets — particularly those with advanced technology adoption, strong sustainability alignment and integrated service models — continue to attract strong investor interest.
Looking forward, IMAP’s Transport & Logistics team anticipates that M&A will remain both dynamic and strategically essential. Decarbonization regulations, driver shortages, infrastructure constraints and the need for seamless, digital, door‑to‑door logistics solutions will keep reshaping the competitive landscape. Companies with scale, dense networks and specialized capabilities will be best positioned to capture opportunities, supporting further consolidation and selective valuation resilience.
With more than 100 sector‑specific transactions completed since 2017 and a global presence spanning 60+ offices, IMAP’s dedicated team is well equipped to help clients navigate these continued shifts.
The report features detailed insights into market drivers, valuation developments, completed deals and forward‑looking expectations across Road Transport (incl. Cold Chain), Marine Freight & Barging, Warehousing Logistics, Freight Forwarding and Last‑Mile Delivery. It also includes deal summaries and in‑depth case studies that examine the motivations of both buyers and sellers, as well as trends in cross‑border and domestic activity.
Discover the insights shaping the sector’s next chapter. Download the full report HERE.
