M&A activity in the Supply Chain and Logistics sector for North American based target companies in Q2 2014 included 44 closed deals according to data provided by S&P Capital IQ. The average deal value was $74 million with an average enterprise value to revenue multiple of .79.
Overall valuations are modest for several reasons. First, transportation deals are cyclical and have already passed the high peak after the low from the recession. Another contributing factor is the horizontal consolidation of smaller trucking companies as opposed to transactions involving more costly modes like airlines and rail.