2014年万博ag客户端app德运输和物流的并购活动es a step back, according to Pwc

In the most recent edition of its quarterly report, entitled Intersections, consultancyPwCnoted that fourth quarter merger and acquisition activity within the transportation and logistics sector was steady overall, while full-year deal making activity in 2014 was on the slower side as it was near a ten-year low.

Deals cited by PwC in its data report represent all announced deals for the quarter and full-year, as opposed to completed deals only-and the report does not parse out deals that are withdrawn, intended, or pending, and only deals valued at $50 million or more are included.

In 2014, PwC said that there were a total of 208 transportation and logistics transactions valued at $50 million or more with a total deal value of $75 billion, with average deal value dipping from $366 million in 2013 to $361 million in 2014, due to a slight increase in volume of deals, coupled with deal values being relatively flat, said PwC.

For the fourth quarter of 2014, PwC reported that there were 53 total transactions for a total of $53.9 billion, which it said represents the lowest deal value and second-lowest deal volume of the year, while also being down significantly compared to the fourth quarter of 2013, which had 80 recorded deals for a total value of $30 billion.

The report explained that the bulk of 2014 deal activity was paced by shipping and trucking, which accounted for 47 percent of total deals for the year, with an increase in trucking-related deals driving 20 percent of annual volume, whereas in 2013 trucking accounted for 12 percent of total deal volume. In its third quarter report, PwC said that trucking deals are gaining momentum due to the fact that it remains “highly fragmented,” as larger companies acquire smaller ones in order to achieve increased market share,” according to PwC U.S Transportation and Logistics Leader Jonathan Kletzel.

As for the overall decline from 2013 to 2014, PwC cited a decline in megadeals, those with a value of $1 billion or more, with infrastructure megadeals accounting for $13.9 billion in total deal value.

Local market deals comprised 69 percent of total deals in 2014, with Asia- and Oceania-based acquirers representing about half of global deals, with European acquirers next at 28 percent and then North American-based acquirers at 23 percent.

When asked what is driving the ongoing traction behind local market deals, Darach Chapman, PwC U.S. Transportation and Logistics Deals Principal, said that since many of these deals are related to trucking, “this tends to be by nature local market oriented vs. logistics and shipping where there are more possibilities for international routes.”

The increase in infrastructure-related deals, according to PwC is because deals including things like toll roads and ports are attractive because pension funds and other investors value the stable, long-term returns and strong barriers to competition.
For the rest of 2015, PwC said it is cautiously optimistic in its view towards transportation and logistics M&A activity, with an ongoing economic recovery in various geographic locales continuing.

Kletzel cited the U.S. economy and a strong U.S. dollar making acquisitions for U.S. parties cheaper for offshore targets, and European nations also seeing improvements.