M&A advisory for supply chain tech companies
Supply chain technology M&A rose sharply through the post-pandemic disruption and has stayed active since. Strategic acquirers and PE platforms have consolidated visibility, freight-tech and warehouse automation operators, with profitable businesses showing recurring revenue and large enterprise customer bases clearing consistently. Concept-stage operators have faced a far more selective environment.
The strategic buyer set includes Manhattan Associates, Blue Yonder, SAP, Oracle, Descartes and Coupa on the software side, with the large logistics and freight forwarders active around digital and visibility assets. PE-backed visibility, freight-tech and procurement platforms have been consistent acquirers in the mid-market. Flow has direct relationships with corporate development at the named strategics and with the sponsor platforms most active in the category.
Flow team has relevant sector experience and has worked with supply chain technology companies across freight and logistics platforms, shipment visibility and tracking, warehouse and yard automation, trade and customs technology, and supplier and procurement networks.
"Supply chain tech" KPIs M&A buyers look at
Key metrics strategics and PE buyers look at when analayzing supply chain tech M&A targets
Shipments processed
Volume / throughput
Software ARR
Take rate (freight / transactional)
Net revenue (gross-vs-net adj.)
Gross margin by revenue line
Carrier / shipper retention
Net retention
Working capital cycle (days)
Bookings & backlog
Supply chain tech valuations in May 2026
Public supply chain tech comps trade at 1.8x EV/Revenue. Median revenue multiple across supply chain tech M&A deals was 1.9x in the last 12 months.
1.8x
Median EV/Revenue as of May 2026 for public supply chain tech companies
4.1x
AmazonAmazon is the highest valued public supply chain tech company based on EV/Revenue (excluding outliers)
1.9x
Median EV/Revenue across supply chain tech M&A deals in the last 12 months
12x
Median EV/Revenue across supply chain tech VC rounds in the last 12 months
Key recent supply chain tech M&A deals
$11B acquisition of GE Transportation by Wabtec was the largest supply chain tech M&A transaction completed in the last year.
See all supply chain tech M&A deals| Logo | HQ | Description | Buyer | ||||
|---|---|---|---|---|---|---|---|
Jun-25 | GE Transportation |  | GE Transportation is a Chicago-headquartered producer of locomotives and propulsion systems for rail, marine, mining, and energy industries. The company builds Evolution Series diesel-electric locomotives, L250 marine engines, 360 AC traction drives, 752 DC drilling motors, and V228 aircraft-derived engines. Its services cover aftermarket parts, signaling, train control, asset optimization, and marine propulsion for freight carriers and power utilities across North America and Europe. | Wabtec | $11B | 2.8x | |
Aug-25 | Regrello | | Regrello provides AI-orchestrated platforms for manufacturing supply chains, automating procurement, production scheduling, and quality control. San Francisco-headquartered since 2020, it connects suppliers via no-code workflows and integrates with SAP and Oracle systems. Dell and 150 other factories use its tools for 45 percent task reduction. | Salesforce | $2.1B | - | |
May-25 | e2open | | e2open is an Atlanta-headquartered supply chain management software provider connecting 400,000 suppliers and 1 million trading partners. Its cloud platform unifies planning, logistics, global trade, and manufacturing execution, used by Toyota, Nestlé, and Unilever for real-time visibility and AI forecasting. Publicly traded on NYSE since 2021, e2open processes $1.6 trillion in GMV annually across 140 countries. | WiseTech Global | $2.1B | 3.2x | |
Jan-26 | Cainiao Logistics |  | Cainiao Logistics is a Hangzhou-headquartered smart logistics network operated by Alibaba Group, managing over 100 warehouses and 3,000 delivery stations in China. It provides end-to-end supply chain services, including parcel sorting at hubs processing 1 million packages hourly and real-time tracking via its platform. Founded in 2013 by Shen Guojun, Cainiao serves e-commerce giants like Taobao and international expansion into Southeast Asia. | Zelos | $2.0B | - | |
Nov-25 | Einride |  | Einride is a Gothenburg-headquartered freight technology company offering electric and autonomous trucking solutions. Founded in 2016, it launched the world's first public-road autonomous electric freight vehicle in Sweden in 2019. The Einride Saga truck and Freight OS platform enable route optimization, electrification, and pod-based cargo transport, with partnerships including Coca-Cola European Partners, DB Schenker, and Coca-Cola in the US. | Legato Merger Corp III | $1.4B | 30x | |
Apr-26 | SingAuto |  | SingAuto is a Singapore-headquartered developer of new-energy intelligent refrigerated vehicles for last-mile logistics. It integrates aided driving, IoT sensors, and full-stack software for temperature-controlled transport, building an ecosystem for commercial fleets. | Blueport Acquisition | $1.2B | - | |
Jul-25 | Frauscher Sensor Technology |  | Frauscher Sensor Technology is a provider of wheel detection systems, axle counters, and tracking solutions for railway infrastructure, relying on inductive sensors and distributed acoustic sensing. Headquartered in Austria with subsidiaries in Australia, India, the UK, and the USA, the company equips operators on five continents for network monitoring and protection. Established in 1992, Frauscher delivers components for level crossing systems, signaling, and asset management, enabling self-sufficient design, installation, and maintenance through customized training programs. Its technologies integrate into CBTC, ETCS, and Positive Train Control standards. | Wabtec | $729M | 4.6x | |
Jan-26 | Teleport |  | - | HPS Investment Partners | $550M | - | |
Nov-25 | LocusView Solutions | | LocusView Solutions is an Ottawa-headquartered provider of Digital Construction Management software for utility infrastructure projects. Its LocusviewBUILD product digitizes field workflows on rugged tablets, replacing paper packets with real-time data validation via GIS integration. Utilities like Hydro One and PG&E use it for gas pipeline and electric transmission builds, capturing as-builts with barcode tracking for regulatory filings. The platform connects to EAM systems like Maximo, automating closeout packages. Professional services include training for 5,000+ field crews annually. Founded in 2007, LocusView processes data from projects spanning 50,000 km of infrastructure. | Itron | $525M | - | |
Dec-25 | Tenna | | Tenna provides software and GPS-based asset tracking solutions that monitor location, usage, service history, and maintenance for equipment. | Deere | $440M | - | |
Sep-25 | Nubis Communications | | - | Ciena | $270M | - | |
Apr-26 | Electra Vehicles | | Electra Vehicles is a provider of AI-driven software for electric vehicles, fleets, and batteries from its Detroit, Michigan headquarters. Launched in 2021, its EVE-Ai 360 platform uses machine learning to extend battery range by 20% and lifetime by 30% via cloud-connected controls. The EnPower Design Suite offers simulations with 300+ cell types, serving OEMs like Ford and fleet operators managing 10,000+ vehicles for real-time performance optimization. | Iron Horse Acquisition Corp. II | $250M | - | |
Jul-25 | Convoy | | Convoy is a Seattle-headquartered digital freight network founded in 2015. It matches shippers with carriers using AI to move thousands of truckloads daily across the United States, targeting the $800 billion trucking industry. The platform reduces empty miles, cutting over 72 million metric tons of CO2 emissions annually through optimized routing. | DAT Freight & Analytics | $250M | 0.8x | |
Nov-25 | M | Matthews International (warehouse automation unit) | | - | Duravant | $232M | 3.2x |
May-26 | Teletrac Navman | | Teletrac Navman is a provider of GPS fleet management solutions for trucking, construction, and other industries. The platform supplies data to keep operations on schedule, lower costs, and direct resources efficiently. Qtanium Connect integrates systems into a unified IT ecosystem for quicker business decisions. | Respida Capital | $220M | - |
Most active buyers of supply chain tech companies
Descartes Systems Group, Aptean and WiseTech Global are the most active acquirers of supply chain tech companies in the last three years.
See all supply chain tech acquirers| Logo | HQ | Description | Key acquisitions | ||
|---|---|---|---|---|---|
Descartes Systems Group |  | Descartes Systems Group provides a software solution that allows users in the shipping industry to communicate with one another. Its core product is the Global Logistics Network, which is best understood as transaction-driven. Descartes charges clients to send/receive messages, data, and documents on the GLN. Customers typically contract for a monthly minimum over a multiyear period. The GLN platform allows Descartes to upsell additional software modules as well, typically provided via a software-as-a-service model. | IdelicFinale InventoryPackageRoute+2 | 11 | |
Aptean | | Aptean is an Alpharetta, Georgia-headquartered global provider of ERP software tailored for manufacturing, distribution, and services industries. Platforms like Aptean ERP and Industrial Innovator manage production planning, warehouse operations, and financials for clients in food, apparel, and automotive sectors. Formed in 2012 from QAD and CDC Software mergers, Aptean operates in 22 countries. | OpsVedaJMALogility+2 | 7 | |
WiseTech Global |  | WiseTech is a founder-led, global leader in logistics software for international freight forwarding. WiseTech’s core product, CargoWise, is used by the majority of the top 25 global freight forwarders and has world-leading annual customer retention rates of over 99%. CargoWise’s main competition consists of inhouse software solutions and analogue processes, providing a large and highly winnable market opportunity for WiseTech’s current and future products. | e2openEditradeOpenTecnologia+2 | 7 | |
Main Capital Partners |  | Main Capital Partners is an Amsterdam-headquartered private equity firm exclusively investing in enterprise software companies across Benelux, DACH, and Nordics regions. It pursues buy-and-build strategies in SaaS, cloud, and vertical market software, partnering with management for operational scaling. | FraxionTrace Onecisbox+2 | 5 | |
Blue Yonder |  | Blue Yonder is a Scottsdale-headquartered supply chain management software provider, acquired by Panasonic in 2021. It offers cloud platforms for demand forecasting, inventory optimization, and warehouse execution using AI and machine learning. The company serves retailers like Walmart and Heineken across 80 countries with solutions deployed on AWS and Azure. | OptoroPledgeOne Network Enterprises+1 | 4 | |
PayToMe.co | | PayToMe.co is a FinTech platform delivering payment-as-a-service, PayFac-as-a-service, and SaaS solutions to streamline back-office financial processes and digital payments. | Ship to BoxShipandStorage.comLuggageToShip.com | 3 | |
Fleetworthy Solutions | | Fleetworthy Solutions is a compliance management firm offering outsourced services for commercial truck fleets in Canada and the United States. The company delivers electronic logging device analysis, safety audits, and regulatory reporting to exceed CVSA standards. Based in Edmonton, Alberta, Fleetworthy supports over 1,000 fleets with tools for hours-of-service compliance and risk mitigation. | commercelogicHaulEmpire Commercial Services | 3 | |
Valsoft | | Valsoft Corporation is a Montreal-headquartered firm acquiring and scaling vertical market software businesses. It targets established SaaS providers in niche industries, integrating technology services to expand customer reach and operational efficiency across sectors like public safety, healthcare, and construction. | ProgressionliveJBL Solutions CompanyICL+2 | 3 | |
GrubMarket | | GrubMarket is a San Leandro, California-headquartered AI-driven B2B ecommerce platform transforming the North American fresh produce supply chain. The company connects 30,000 suppliers and buyers through its marketplace, offering inventory management, logistics tracking, and financing. Operating coast-to-coast, it processes billions in transactions annually for fruits, vegetables, and seafood. Founded in 2016, GrubMarket expanded into Canada and Mexico, deploying blockchain for traceability and machine learning for demand prediction. | ProcurantParsemonyButter+1 | 3 | |
EQT | | Swedish conglomerate Investor AB set up EQT as its private equity division in 1994. In its early days, EQT focused primarily on private equity investments in Sweden and the rest of Scandinavia. Today, EQT is one of the largest global private-market investors, with funds that focus on private equity, real estate, and infrastructure globally. Investor AB retains a minority stake. | EAGLE RAILCAR SERVICESAMCS GroupConstellation Cold Logistics+2 | 3 |
Founders and investors we've worked with
We've supported winning builders across supply chain tech and beyond.
Boryszew
We provided buy-side advice to Boryszew, a Warsaw-listed diversified industrial group across automotive, metals and chemicals, on industrial software market mapping and target screening for its buy-and-build strategy.
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Element
We provided buy-side commercial due diligence to Element Materials Technology, a London-headquartered global TIC services provider, on a series of potential add-on acquisitions in the testing, inspection and certification space.
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MAILINGWORK
We acted as exclusive sell-side advisor to MAILINGWORK, a Chemnitz-based email marketing software platform, on its sale to French digital marketing leader Positive Group.
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TestSolutions
We acted as exclusive financial advisor to Swiss PE firm Patrimonium on its majority stake acquisition of TestSolutions, a Frankfurt-based software testing and IT services provider.
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Rebellion Pay
We acted as exclusive sell-side advisor to Rebellion Pay, Spain's leading Gen Z neobanking platform, on its sale to Turkish consumer fintech unicorn Papara.
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