M&A Quarterly News In The Transport, Logistics and Supply Chain Industry Sector
By Peter Heydenrych | Mar 05, 2020The report below gives a good overview of the first quarter M&A activity in the Transport, Logistics and Supply Chain Industry Sector. M&A activity for North American based target companies in Transportation and Logistics sector for Q4 2019 included 49 closed deals, according to data published by industry data tracker FactSet.
One of the notable lower middle market transactions was announced in December when Franchise Group, Inc. acquired American Freight of Ohio, Inc., a portfolio company of The Jordan Co LP, for US$450 million in cash, subject to certain adjustments. Franchise Group, Inc. is a holding company. American Freight Furniture & Mattress is a warehouse-style furniture store that specializes in furniture obtained through dealer cancellations, factory closeouts, retail chain buyouts, & wholesale liquidations.
There was a significant plunge in cargo volumes in February that could get even worse in the coming months if the coronavirus disease 2019 (COVID-19) worsens and spreads further. The ports of Los Angeles and Long Beach are forecasting a 12 to 15 percent decline in container volume in the first quarter as carriers continue to cancel sailings in the trans-Pacific.