Private Equity Trends in Support Activities for Transportation

Overview

The Support Activities for Transportation industry (NAICS 488) encompasses a diverse array of services essential for ensuring the smooth operation of air, rail, road, and water transport systems. This includes airport and port operations, air traffic control, freight brokerage, cargo handling, vehicle towing, and packaging services. These functions play a critical role in the global logistics and supply chain ecosystem, especially as e-commerce, intermodal transport, and global trade intensify. 

Rising demand for streamlined resilient logistics networks and just-in-time delivery models is driving consolidation and strategic partnerships. For M&A professionals, this sector offers opportunities to acquire specialized service providers that can enhance multimodal connectivity, expand geographic coverage, or offer digital and automation capabilities. Notably, freight transportation arrangement and marine cargo handling are high-growth sub-sectors attracting private equity interest due to their recurring revenue potential and scalability. 

With its integral role in global trade and exposure to high-growth e-commerce and infrastructure trends, the industry remains a prime candidate for dealmaking centered around efficiency, scale, and digital transformation. 

Sub-Sectors

Historical PE Investments in Support Activities for Transportation

Support Activities for Transportation have consistently attracted a modest share of private equity platform investments, typically ranging between 2.0% and 2.5% since 2000.

 
The sector saw brief spikes in activity around 2005 and 2014 but has trended slightly downward in recent years. Despite this, it remains a stable niche for PE firms seeking steady, infrastructure-adjacent opportunities. 

Market Summary (2001 - 2025)

• 2,855 - Platform investments
• 1,965 - Add-on investments
• 1,310 - Total unique private equity firms invested 

Top 5 Private Equity Firms Invested in Support Activities for Transportation

Measured by the number of deals in Support Activities for Transportation.

1. Warburg Pincus (New York, NY) 
2. Carlyle Group, The (Washington, DC) 
3. Stonepeak (New York, NY) 
4. TJC (New York, NY) 
5. Insight Partners (New York, NY) 

Geographical Distribution

Sample Private Equity Investments in our Database

April 2025 

Stonepeak acquired  Air Transport Services Group (Wilmington, OH). 

Air Transport Services Group (ATSG) is a provider of aircraft leasing and provides cargo and passenger air transportation services to domestic and international air carriers, along with companies requiring outsourced airlift solutions. 

March 2025 

Wavecrest Growth Partners made strategic investment in  Carpool Logistics (Atlanta, GA). 

Carpool Logistics is a vehicle logistics platform. 

February 2025 

MacKinnon, Bennett & Company (MKB) invested in  Circuit (New York, NY). 

Circuit offers urban transportation with short-trip, electric shuttle solutions. 

January 2025 

Hidden Harbor Capital Partners invested in Coast to Coast Logistics (Deerfield, IL). 

Coast to Coast Logistics is a full-service, third-party logistics provider specializing in drayage freight brokerage services. 

November 2024 

GiantLeap Capital completed a significant investment in Firefly Aerospace (Cedar Park, TX). 

Firefly Aerospace is an end-to-end space transportation company with launch, lunar, and on-orbit services. 

How Private Equity Info sources data

As a research database and information services company serving the middle market M&A community for 20 years, Private Equity Info ingests enormous amounts of data surrounding transactions, firms, and executives. In addition, our team engages in many conversations daily across the spectrum of investors, investment bankers, and service providers to the M&A community.

This summary report was put together by analyzing the private equity investments collected by our dedicated research team which follows 127,000 key executives, 16,000 firms and 33,000 funds in the M&A industry, or 34 million total data points. Private equity investors, investment bankers and service providers in the M&A space use Private Equity Info to search, identify and download targeted lists of M&A professionals in order to connect with key executives across thousands of companies, firms and funds.