Europe Participation

Generally, it can however be stated, that in the United States the investment activity of private equity in the logistics sector was historically always higher than in Europe or Asia. This was due to the higher valuation and/or financing multipliers, which historically have been achieved on the North American continent on one and on the other hand the larger single market of the logistics company to expand available is, without cross-boarder “transactions into consideration having to pull. Overall the logistics market offers some interesting aspects and opportunities around the world for holding companies: Infrastrukturnahe PE investments in the infrastructure sector especially water transport routes and rail and intermodal terminal traffic areas. Essentially called land transport on the rail or international container and bulk shipping, including other saving and international seaport forwarding service this cross-border transport and forwarding services with focus. In this sub-segment, there were some significant transactions with private equity in Europe Participation.

In rail freight transport, investment motives were certainly in addition to the relatively high margins, partly also the speculation on opportunistic exit opportunities on the big European railways in an overall positive market environment. Due to the high level of investment and the cyclical nature of the transportation segment by the economic crisis, seems this concept only partly to be paid. With the acquisition of Lehnkering by the financial investor Triton in the Bulktransport waterways of possible efficiency gains and a buy-and-build strategy as a strong niche player were certainly a decisive criterion for the transaction. Freight forwarding forwarding companies due to their low capital intensity, the relatively stable margins provided opportunities to share price fluctuations on the shopping page to customers, E.g. on diesel-floater, is given, and always attractive due to the potential for long-term growth prospects for private equity investors. However, the capital market valuations in this area are with 10 EBITDA comparatively high and significantly above the remaining segments of the transport.

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