Tenney Group anticipates a significant surge in transportation mergers and acquisitions

Transportation and Logistics M&A Activity Poised for Growth

After a challenging 2025 marked by shifting trade regulations and an extended freight downturn, the transportation and logistics industry is showing signs of renewed merger and acquisition (M&A) activity. Tenney Group, a firm specializing in M&A within this sector, anticipates a significant surge in deal-making by the end of the year.

According to Tenney Group’s 2026 forecast, “M&A momentum is building as market conditions improve. We predict a sharp uptick in transactions during the final quarter of 2026, with this trend likely to continue into 2027 and beyond.”

Globally, deal volume in the sector has declined, dropping from 1,797 deals in 2021 to just 1,150 last year. The report attributes this decline to the lingering effects of the pandemic and last year’s trade conflicts, which made it difficult for companies to maintain revenue and profit margins. Several strong businesses were unable to secure deals in time and ultimately filed for bankruptcy.

Despite these hurdles, Spencer Tenney, CEO of Tenney Group, noted that many innovative and resilient companies leveraged M&A to strengthen their operations or secure partial exits.

Tenney highlighted that buyers in 2025 prioritized companies with specialized services, steady demand, pricing leverage, and robust business models. Sectors such as healthcare logistics, dedicated transportation, and reverse logistics remained especially attractive to investors.

Notable Recent Deals

While major carrier M&A was rare in 2025, the start of the new year has already seen several significant transactions:

• Avkha Equity Holdings purchased Dart Transit, a Minnesota-based carrier.
• USA Truck, based in Arkansas, was acquired by a group of its current and former executives from DSV, a freight forwarding company.
• Titanium Transportation Group, headquartered in Canada, has agreed to go private.
• Echo Global Logistics acquired ITS Logistics, forming a $5.4 billion third-party logistics platform.

Trends and Outlook for 2026

Tenney Group’s outlook suggests that companies adept at managing trade uncertainty will command premium valuations. The report singles out specialized freight brokerages with managed transportation services, as well as providers with strong customer relationships and resilient operations, as likely beneficiaries.

Consolidation is expected to intensify in the supply chain technology space, with buyers seeking scale and integrated solutions rather than fragmented offerings. Cross-border logistics firms with the capacity to navigate regulatory complexities and mitigate operational risks are also expected to be in demand.

Conversely, the report warns that certain segments may be left behind, including spot truckload brokers, generic brokerages, and standalone freight technology platforms lacking proprietary data assets.

“As we move forward and collaboratively shape the future of supply chains, the opportunities ahead are vast,” said Spencer Tenney. “Successfully capitalizing on these prospects will require clear vision, thorough preparation, and a commitment to adaptability and ongoing learning.”

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This article was originally published on FreightWaves.