The report below gives a good overview of the third quarter M&A activity in the Transport, Logistics and Supply Chain Industry Sector. M&A activity for North American based target companies in the Transportation and Logistics sector for Q2 2019 included 71 closed deals, according to data published by industry data tracker FactSet.
One of the notable middle market transactions in the sector closed in June when Aurora Capital Group LP acquired Petroleum Service Corp from SGS SA for US$335 million. Founded in 1991, Aurora Capital Group is a private equity firm located in Los Angeles. Petroleum Service Corp. provides loading and unloading services for the refining, chemical and marine transportation industries. It offers tinkering barges, operating docks, switching railcars, material packaging and warehousing services. The company was founded in 1952 and is headquartered in Baton Rouge, LA.
Industry Indicators
- The average US retail price for diesel and regular gas, a major operating cost for trucking fleets, fell 6.4% and 7.7%, respectively, in the week ending August 12, 2019, compared to the same week in 2018.
- Total US manufacturers’ shipments, an indicator of the volume of goods shipped by truck, rose 1.9% year-to-date in June 2019 compared to the same period in 2018.
- Total US revenue for general freight trucking rose 2.0% in the first quarter of 2019 compared to the previous year.
Posted by Peter Heydenrych.
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