Logistics has quietly become one of the most sought-after sectors for investors. Once seen as a mature, asset-heavy industry, it’s now a structural growth story – where automation, AI, and advanced warehousing have turned logistics into a hybrid of technology and infrastructure.
Why Logistics Is Booming
E-commerce growth, reshoring, and supply-chain diversification have permanently changed logistics demand. Once seen as a cost center, logistics is now viewed as a strategic enabler. Companies are willing to pay a premium for reliable, tech-enabled partners who can ensure resilience, speed, and visibility.
The sector’s backbone – warehouses and distribution hubs – is also being reimagined. Automation, robotics, and AI-driven routing are making facilities more efficient and capital-intensive. According to WisdomTree’s May 2025 research note on logistics, automation is turning warehouses into “the new real estate frontier,” as smart facilities function like technology hubs and attract long-duration capital. This convergence is drawing long-term capital from institutional investors and private equity alike. (1)
Rising Demand: What It Means for Middle-Market Businesses
Mid-sized logistics operators occupy a sweet spot: large enough to show professional systems, leadership depth, and proven networks – yet nimble enough to deliver flexibility and customer intimacy that larger incumbents can’t match.
As demand surges – from niche last-mile specialists to cold-chain micro-hubs – growth is outpacing what most players can build organically. To scale faster, buyers increasingly choose buy over build, creating a seller’s market for proven operators. Automation-ready facilities have become prime acquisition targets as acquirers seek capacity they can scale immediately.
There are more buyers than ever. Big companies want capacity now. Private equity firms want solid “anchor” businesses and smaller add-ons to grow in new regions. And automation leaders – like major retailers and industrial groups – prefer to buy proven operators rather than build from scratch. Together, that means steady inbound interest and stronger competition for well-run mid-market logistics companies.
Notable transactions in the middle market:
- OIA Global → JF Moran — (April, 2025)
JF Moran brings deep U.S. customs compliance, Foreign Trade Zone (FTZ) expertise, and high-touch brokerage to OIA’s platform. The deal expands OIA’s North American footprint and strengthens its trade-compliance offering for shippers across retail/lifestyle, industrial, energy, and automotive. (2) - The Descartes Systems Group → 3GTMS (March 2025, ~$115M):
Descartes, a global logistics technology provider, acquired 3GTMS, a transportation management solutions (TMS) provider. This deal was motivated by the need for integrated, single-platform solutions to manage the entire transportation life cycle.
(3) - Triumph Financial →ai (May 2025, $140M):
Triumph Financial acquired greenscreens.ai to integrate intelligent freight pricing solutions, aiming to enhance efficiency and provide data-driven insights to clients in the transportation sector. (4) - Radiant Logistics → Transcon Shipping (March, 2025)
Radiant Logistics strengthens its coastal presence with this acquisition, gaining established operations across major U.S. ports including Los Angeles, New York, and Chicago. The deal expands Radiant’s ocean-freight forwarding and import/export capabilities, deepens relationships with key carriers, and enhances end-to-end international service offerings. (5)
Valuation Drivers in a Competitive Market
Technology Integration:
Buyers reward systems that enhance visibility and efficiency – such as Transportation Management Systems (TMS), route optimization, warehouse automation, and analytics – because they demonstrate how technology directly supports scale and profitability.
Scalability and Network Density:
Multi-location coverage, strong regional routes, and repeat customers create operating leverage.
Diversified Customer Mix:
Balanced exposure across industries and customer types reduces volatility and dependency risk – key to premium multiples.
Operational Excellence:
Safety metrics, on-time delivery, and leadership depth all matter. A disciplined operating culture signals durability and integration readiness.
ESG and Resilience:
Energy efficiency, electrification readiness, and emissions tracking are increasingly part of buyer due diligence. Sustainable operators stand out in both diligence and valuation discussions.
Who’s Buying
The buyer universe has expanded well beyond traditional 3PLs.
- Private equity platforms are seeking anchor investments with steady EBITDA and regional presence.
- Strategic consolidators aim to strengthen service coverage or integrate last-mile capabilities.
- Logistics-tech companies – like software-driven freight networks – are buying smaller firms that improve tracking, automation, and data visibility across shipments.
The result is a highly active market where mid-sized operators can generate competitive tension among multiple buyer types.
For Owners Who Haven’t Yet Invested in Technology
Not every operator needs full automation to attract buyers – what matters is a clear path to modernization. Investors value dependable networks and loyal customers that can serve as platforms for digital transformation. Focus on clean financials, documented processes, and safety metrics – signals of stability that technology can amplify. Even small upgrades like TMS or visibility dashboards show progress without heavy capex.
Common Questions from Founders
Should we sell now or grow first?
If your pipeline is strong and capacity utilization high, buyers will price in near-term growth. Waiting for “perfect timing” often means missing the window of peak multiples.
Do buyers value tech even if it’s licensed?
Yes – buyers focus on how well technology is embedded in daily operations, not just ownership of IP.
What if we’re asset-heavy?
Fleet ownership can be a strength when it ensures service quality and margin control. Structure and presentation matter more than the model itself.
Considering your next move?
The logistics boom is reshaping dealmaking. For owners, the question isn’t if buyers are coming – it’s how to capture maximum value when they do. With clear positioning and the right advisors, middle-market businesses can convert operational excellence into premium outcomes.
Harney Capital’s senior team helps logistics owners navigate this process end-to-end –
from defining the thesis to managing buyer outreach and closing. Each step is structured, defensible, and designed to maximize value for your business and its future owners.
Endnotes
1) WisdomTree
2) OIA Global Acquires JF Moran
3) Descartes Acquires 3GTMS | Descartes
