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Mike Rosendahl

E: mrosendahl@pcecompanies.com

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Industry Trends

Ports Reopen Amid Dockworker Strike Deal

A major dockworker strike at East and Gulf Coast ports ended after a tentative deal was reached between the International Longshoremen’s Association and shipping companies. The workers secured a 62% wage increase over six years, though automation remains a sticking point. The ports, handling half of U.S. imports and exports, are back in operation, averting a potential supply chain crisis. Negotiations will continue into 2024 as automation concerns loom large.1

DSV Shells Out $12 Billion For DB Schenker

Danish logistics giant DSV A/S has agreed to purchase Deutsche Bahn AG's Schenker logistics unit for $12 billion in cash, marking a significant consolidation in the global transportation and logistics sector. DSV's largest acquisition to date is set to create a powerhouse in the industry with a combined workforce of 147,000 employees across more than 90 countries. While the logistics sector faces challenges from slowing global trade, this strategic move positions DSV for long-term growth and increased market share.2

Logistics Index Shows Steady Growth

The August 2024 Logistics Manager's Index (LMI) stands at 56.4, reflecting logistics managers' perception of continued moderate expansion in the sector. This increased index value highlights key drivers such as rising Inventory Levels (+6.1 to 55.7), expanded warehousing capacity (+5.0 to 59.5), and increased transportation capacity (+5.8 to 56.7)—all crucial indicators of growing supply chain resilience. Respondents forecast the LMI to reach 62.4 within the next year, signaling optimism for sustained sector growth through the end of 2024.3

Promising Signs in Trucking Market

Trucking leaders reported positive signs in Q2 and July, such as tightening capacity and seasonal demand, but warned a market inflection has yet to occur. Companies like Schneider and Knight-Swift highlighted slow pricing recovery and rate pressures, with spot prices surpassing contract rates for the first time in two years. While demand hasn't fully rebounded, executives see modest improvements, though some expect the recovery to stretch into 2025.4

Largest Transactions Closed

  • Target
  • Buyer
  • Value($mm)
  • n/a
  • n/a
  • n/a

Other Financial Buyer Transactions Closed

  • Target
  • Buyer
  • Value($mm)
  • Laurel Harbor Marina and Yacht Club
  • Undisclosed
  • n/a
  • Premier LogiTech, LLC
  • Tide Rock Holdings LLC
  • n/a
  • Bold Ocean LLC
  • Undisclosed
  • n/a
  • ConData Global, Inc.
  • Astira Capital Partners LP
  • n/a
  • CTS Aspen LLC
  • The Hoffmann Family of Companies
  • n/a

Other Strategic Buyer Transactions Closed

  • Target
  • Buyer
  • Value($mm)
  • Wheels Labs, Inc.
  • Overseas Moped Investment and Holding Pte Ltd.
  • n/a
  • LYNX Logistics, LLC
  • River Horse Logistics, LLC
  • n/a
  • All Area W&W Towing, Inc.
  • Vehicle Management Solutions, LLC
  • n/a
  • Shipsi, Inc.
  • Rainmakers
  • n/a
  • Capital Transportation Services, LLC
  • Heritage Trucking LLC
  • n/a
  • Cruise Connection
  • Cruise Express
  • n/a
  • Hidden Cove Marina
  • Suntex Marinas, LLC
  • n/a
  • Rail infrastructure and remaining park acreage of Central Arizona Commerce Park's ("CAZCP")
  • OmniTRAX, Inc.
  • n/a
  • Foundation Logistics & Services, LLC
  • Radiant Logistics, Inc.
  • n/a
  • Hydra Warehouse and Transportation
  • Buske Lines, Inc.
  • n/a

 

Source S&P Capital IQ as of 10/9/2024 and PCE Proprietary Data

PCE Transactions

Contacts

Michael Rosendahl

New York Office

201-444-6280 Ext 1 |

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Eric Zaleski

Chicago Office

847-239-2466 |

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Kyle Wishing

Atlanta Office

404-994-4186 |

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Data Assumptions

This report represents transaction activity as mergers & acquisitions, consolidations, restructurings and spin-offs. Targets are defined as U.S. Based companies with either foreign or U.S. based buyers. Transaction information provided is based on closed dates only.

Glossary

EBIT - Earnings Before Interest and Taxes
EBITDA - Earnings Before Interest, Taxes, Depreciation, Amortization
LTM - Last Twelve Months
TEV - Total Enterprise Value

Sources:

  1. 1. Holder S., “Inside the Deal That Held Off the Dock Workers Strike." BNN Bloomberg, October 4, 2024.
  2. 2. Chopping D., “DSV to Buy Deutsche Bahn’s DB Schenker Arm for Over $12 Billion.” WSJ, September 13, 2024.
  3. 3. Rogers Z., “August 2024 Logistics Manager’s Index Report.” Logistics Manager’s Index, September 3, 2024.
  4. 4. Taube D., “Trucking outlook shows promise as industry awaits inflection point.” Trucking Dive, August 22, 2024.
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