Industry Reports

Published on: 02/23/2021
Capstone Headwaters has released its most recent Warehousing & Fulfillment Industry Update, available for free download below. COVID-19’s acceleration of e-commerce sales has heightened demand for warehousing and fulfillment operations, driving increased merger and acquisition (M&A) activity and valuations of industry operators. Capstone predicts 2021 to be an active transaction year as companies adjust to the post-COVID supply chain environment.   
Published on: 12/01/2020
Through Q3, merger and acquisition (M&A) volume reached 60 deals and surpassed the year-to-date volume seen in 2019 (52 deals), 2018 (44), and 2017 (56).  Warehousing, Logistics-Specific Back Office, and E-Commerce Software were three sectors that saw a noticeable increase in deal volume.  Capstone expects M&A and venture capital (VC) activity to increase in 2021 as executives place a greater importance on integrating technology into their supply chain.
Published on: 08/17/2020
 In Q2 2020, Echo Global Logistics (Nasdaq:ECHO) (“Echo”), C.H. Robinson Worldwide (Nasdaq:CHRW) (“CHRW”), and privately owned brokerages that Capstone spoke with have all said the same thing: Q2 was volatile.
Published on: 06/08/2020
Capstone Headwaters has released its Q1 2020 Transportation & Logistics Public Earnings Update, reporting that public markets have taken notice of trucking companies that have strong balance sheets and the ability to weather freight recessions.
Published on: 03/02/2020
From 2018 to 2019, transaction activity in the industry increased a significant 31%, climbing from 64 announced or closed mergers and acquisitions (M&A) in 2018 to 84 in 2019.  Buyer demographics have shifted over the past year to comprise a large share of private buyers, as fragmented players seek to expand their capabilities and geographic presence.
Published on: 12/02/2019
Merger and acquisition (M&A) volume has been heightened in the Logistics Service Providers industry in 2019 with 68 announced or closed transactions year-to-date (YTD) compared to 43 in all of 2018.  Consideration and discussion of technology innovations in a sector that has historically been people-based has increased, prompting third-party logistics (3PL) providers to seek scale through M&A in order to gain the resources needed to create their own proprietary software. 
Published on: 10/24/2019
Amid favorable industry trends, M&A activity has increased 35% year-over-year. Capstone Headwaters maintains an active Domestic Marine Services practice and this year has successfully advised both shipping services provider Vigor Industrial and Great Lakes shipping leader Andrie on their respective sales.
Published on: 08/12/2019
Merger and acquisition activity has surged in the Logistics Service Providers sector, with 44 transactions announced or closed year-to-date compared to 21 deals during the same period last year.
Published on: 07/08/2019
The Transportation & Logistics Group has released it's Q2 2019 Location-Based Logistics Executive Summary, available for download below. While the industry has been in high demand due to the expanding U.S. economy and favorable consumer spending, the macro effect of tariffs on Chinese imports remains an unknown for the industry and will potentially weigh on inventory and supply-chain costs. 
Published on: 05/15/2019
Demand for the Logistics Service Providers industry has risen as complex US regulations, the ongoing truck driver shortage, and competitive delivery times have pushed companies to utilize third-party logistics service providers (3PLs) to improve cost and efficiency. While 3PLs have collectively claimed a large share of the Transportation and Logistics (T&L) market, the industry remains highly fragmented with attractive opportunities for both strategic and financial buyers.