By the end of 2025, transport and logistics (T&L) M&A had clearly moved out of its post-pandemic correction and into a more disciplined, selective phase. While activity levels remained below the peak years of 2021–22, buyer confidence improved steadily toward year-end. The result was not a volume-driven rebound, but a strategic recalibration that is now shaping expectations for 2026.

As highlighted in our “State of the Transport & Logistics Market Interview”, the sector has entered a phase in which capital is ...

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