Logistics M&A Advisory | Strategic Sell-Side Representation for Transportation and Supply Chain Operators

Elite M&A Advisory for Canadian Logistics Business Owners

Windsor Drake is a premier Canadian mergers and acquisitions advisory firm focused on providing sophisticated sell-side representation to mid-market logistics and transportation businesses. Our advisory model draws on the institutional standards of top investment banks, combined with sector-specific intelligence across trucking, warehousing, freight brokerage, and integrated supply chain operators.

If you are a founder, operator, or majority shareholder in a logistics business in Canada and are considering a sale, recapitalization, or strategic partner, our team delivers a confidential, structured exit process tailored to your goals and market position.

Why Logistics M&A Activity Is Accelerating

The Canadian logistics sector has emerged as one of the most active segments in the private capital markets. A confluence of macro and structural forces is driving rapid consolidation:

  • Surge in e-commerce and just-in-time delivery models
  • Rising cross-border freight demand with the U.S.
  • Private equity roll-ups seeking platform and bolt-on acquisitions
  • Aging ownership base in transportation and third-party logistics (3PL)
  • Cost inflation and regulatory pressures prompting scale advantages

These dynamics have fueled heightened interest from both strategic and financial buyers. Investors are targeting asset-light models, route density, recurring contract revenue, and modern tech-enabled platforms.

Sources such as the Canadian Trucking Alliance (https://cantruck.ca/) and Transport Canada (https://tc.canada.ca/) offer insight into regulatory changes, fleet modernization incentives, and infrastructure investments influencing M&A dynamics in the sector.

What Is Logistics M&A?

Logistics M&A encompasses the sale, recapitalization, or merger of companies involved in the movement, storage, or coordination of goods. This includes:

  • Truckload and less-than-truckload (LTL) carriers
  • Freight brokerage and 3PLs
  • Warehousing and fulfillment providers
  • Final mile and e-commerce parcel delivery
  • Cold chain and temperature-controlled logistics
  • Intermodal and cross-border freight operators

A successful M&A process goes beyond matching buyers and sellers. It requires expert valuation, market positioning, regulatory navigation, and competitive tension to drive premium outcomes. Windsor Drake manages this process end-to-end.

Who We Serve

We advise Canadian logistics firms with the following profile:

  • $10M to $250M+ in annual revenue
  • $1M+ EBITDA with consistent margin performance
  • Asset-based or asset-light models
  • Strong safety, insurance, and compliance record
  • Diversified customer base or recurring contractual revenue

We support a variety of ownership profiles:

  • Founder-led operators
  • Family-owned fleets
  • PE-backed firms exploring recapitalizations
  • Divisional carve-outs of larger transportation groups

Our clients span industries including general freight, food and beverage logistics, construction materials distribution, and specialty commodities.

Windsor Drake’s Logistics M&A Process

1. Strategic Evaluation & Market Readiness

We begin with a confidential discussion of your financials, fleet or asset profile, key accounts, and operational footprint. Our team identifies valuation drivers, red flags, and strategic levers that may influence buyer demand.

2. Valuation Modeling & Buyer Positioning

Using comparable transaction data from sources such as PitchBook and proprietary buyer mandates, we develop a defensible valuation range. Valuations typically focus on:

  • Adjusted EBITDA multiples
  • Fleet utilization metrics
  • Revenue per mile or per warehouse sq. ft.
  • Contractual vs transactional customer mix

3. Confidential Marketing Materials

We create a comprehensive Confidential Information Memorandum (CIM) that frames your company as a premium acquisition opportunity. Our materials include:

  • Operational overview (routes, terminals, fulfillment centers)
  • Fleet or asset profile with replacement cost context
  • Historical and projected financial performance
  • Safety, compliance, and regulatory positioning
  • Management team and key drivers of profitability

4. Buyer Outreach and Vetting

We run a discreet buyer outreach campaign targeting:

  • Private equity firms with active transportation portfolios
  • Strategic acquirers consolidating footprint or verticals
  • Large 3PL platforms seeking accretive tuck-ins
  • Family offices and international investors

No general marketing or public listings are used. All parties sign NDAs before accessing confidential details.

5. Term Sheet Negotiation and Diligence

We lead negotiations on Letters of Intent (LOIs), focusing on:

  • Valuation and earnout structures
  • Treatment of rolling equity or management retention
  • Working capital adjustments and escrow terms

We then coordinate due diligence across operations, legal, financial, and compliance domains—streamlining the process to reduce friction and accelerate time to close.

6. Final Closing and Transition Support

Our team remains involved through final legal documentation, stakeholder communication, and post-close transition planning. We ensure alignment on integration strategies, earnout metrics, and management handover.

What Drives Value in Logistics M&A?

Key valuation drivers for logistics firms include:

  • Route density and cost-per-mile optimization
  • Contractual revenue (vs spot/transactional)
  • Margin stability through fuel surcharges or dynamic pricing
  • Technology adoption (TMS, ELD, route planning)
  • Safety and compliance history (CVOR, DOT, insurance claims)
  • Scalable infrastructure with low capex requirements

Multiples vary by subsector:

  • Asset-light 3PLs: 6x–10x EBITDA
  • Final mile and e-commerce delivery: 5x–9x EBITDA
  • Truckload carriers: 4x–7x EBITDA
  • Intermodal and niche operators: 6x–8x EBITDA

Buyers increasingly seek integrated, tech-enabled platforms with flexible service models and management teams open to transition or equity rollover.

Recent Canadian Logistics Transactions

  • Ontario 3PL & Fulfillment Provider
    $42M Revenue | $5.6M EBITDA
    Acquired by PE-backed global logistics consolidator
  • Western Canada Flatbed Carrier
    $27M Revenue | $3.9M EBITDA
    Sold to strategic buyer expanding construction material logistics
  • Quebec Cold Chain Distributor
    $33M Revenue | $4.2M EBITDA
    Merged with national foodservice distribution group

These examples reflect increasing specialization and premium valuations for high-performing logistics platforms.

Why Windsor Drake?

We offer the sophistication of a top-tier investment bank, with the confidentiality and strategic insight required for complex logistics transactions.

  • Sector expertise in freight, warehousing, and supply chain
  • Deep buyer network across private equity and strategic acquirers
  • Valuation and deal structuring precision
  • Regulatory knowledge (transport, cross-border, ELD)
  • Senior-led execution with zero junior handoff

Every mandate is executed by our managing directors, supported by analysts, former operators, and capital markets professionals.

Legal, Tax, and Regulatory Structuring

We collaborate with your legal and accounting teams to structure the transaction for:

  • Optimal after-tax proceeds
  • Fleet ownership transfer (leases, titles, insurance)
  • Working capital and asset purchase mechanics
  • Rolling equity terms (if applicable)

Additionally, we guide cross-border tax planning, CVOR/DOT regulatory disclosures, and union/labor considerations. When needed, we provide introductions to logistics-specialized M&A counsel and accounting firms.

For background on regulatory issues, see Transport Canada’s trucking and freight policies: https://tc.canada.ca/en/services/road/trucking

FAQs

How long does it take to sell a logistics company?
Typically 6 to 9 months from engagement to close, depending on complexity and diligence.

What size does my company need to be for an M&A process?
We typically work with logistics companies generating $10M+ in revenue and $1M+ EBITDA.

Are smaller fleets still attractive to buyers?
Yes—especially if you have strong route density, contracts, or regional dominance. Buyers may roll your operations into larger platforms.

Do I need to disclose customer names?
Only after buyers sign NDAs and pass vetting. We protect confidentiality throughout.

Can I sell part of my company and stay on?
Yes. Recapitalizations with private equity or family offices allow you to sell a majority stake while continuing to lead the business.

Start a Confidential Discussion

If you own or operate a logistics company in Canada and are exploring a sale—whether now or in the future—Windsor Drake offers elite, confidential M&A advisory built to deliver institutional-grade results.

We help clients:

  • Maximize enterprise value
  • Navigate legal and regulatory complexity
  • Attract strategic and financial buyers
  • Retain optionality and control

Windsor Drake | Logistics M&A for Owners Ready to Execute
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