At what enterprise value was QUBE acquired in 2026?

During the acquisition of QUBE by MACQUARIE in 2026, the company was valued at an estimated revenue multiple of below 5x. The transaction's Enterprise Value is estimated to be in the range of 3b - 100b AUD. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the Business Services industry currently tracks an average EBITDA multiple of 11.1x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of QUBE when it was acquired by MACQUARIE?

The estimated EV/EBITDA multiple for QUBE is in the range of 15x - 25x. For comparison, the Business Services sector currently shows an average EBITDA multiple of 11.1x. Join our community for free to access full valuation data and industry trends.

When was QUBE acquired by MACQUARIE?

QUBE was acquired by MACQUARIE in 2026.

What was the revenue of QUBE at the time of the deal?

The revenue of QUBE at the time of the deal is estimated to be in the range of 2.5b - 5b AUD. Register for free to access the full transaction report and exact valuation multiples.

What was the EBITDA of QUBE during the acquisition?

QUBE's EBITDA is estimated to be in the range of 450M - 900M AUD. Join our community for free to access complete and exact deal data.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the QUBE acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the QUBE deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.macquarie.com/au/en/about/news/2026/macquarie-asset-management-led-consortium-enters-binding-agreement-to-acquire-qube.html

← DATABASE

Home Database Business ServicesQUBE

02/2026

QUBE acquired by MACQUARIE

AUSTRALIA Transport & Logistics / Infrastructure & Ground Services EV 3b - 100b AUD

Context

The transaction involves the acquisition of Qube Holdings Limited by a consortium led by Macquarie Asset Management, comprising MAM managed funds and co-investors, including UniSuper and Pontegadea. The consortium will acquire all of the shares in Qube by way of a scheme of arrangement, with Qube shareholders receiving cash consideration for their shares. The transaction is subject to customary conditions and regulatory approvals, including from the Foreign Investment Review Board and the Australian Competition & Consumer Commission. The strategic rationale for the transaction is driven by the importance of robust and resilient supply chains in Australia and the Asia Pacific region, with the consortium seeking to support Qube’s world-class management team in driving further growth and resilience in the business. The transaction is expected to provide a platform for Qube to continue its evolution, while maintaining its strong track record of enhancing supply chains and delivering outstanding customer service.

QUBE, which reported an EBITDA margin of LOGIN in 2025, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the Business Services sector (11.1x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

-> Deep-dive in Business Services market trends

Target

Qube Holdings Limited is Australia’s largest provider of ports and terminal infrastructure assets, supported by a 10,000-strong workforce. The company operates a transport and trade network that handles an array of goods and services, including outbound grain and cottonseed shipments. Qube has a strong track record of investment in supply chain infrastructure, security and resilience, including at Moorebank Logistics Park and Patrick Terminals. The company’s efforts in decarbonisation and digitalisation deliver significant sovereign supply chain capability at a time of rising trade demand and regional population growth. Qube’s operations span across 200 sites in Australia, New Zealand, and South-East Asia, as well as new opportunities across the Asia Pacific region, providing a comprehensive range of services to its customers.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (AUD)

Year

Rev

EBITDA

EBIT

2025

2024

Similar deals in Business Services

List of similar M&A transactions (Date, Acquirer, Target, Country, Sector, Deal Context)
Date	Acquirer	Target	Country	Sector	Deal Context
05/2026	SAL SAUDI LOGISTICS SERVICES	AVIAPARTNER LIÈGE	BELGIUM	Transport & Logistics	Saudi Logistics Services Company (SAL) entered into a conditional agreement to acquire the entire share capital of Aviapartner Liège SA from its parent companies, Aviapartner Belgium NV and Aviapartner Holding NV
03/2026	BC PARTNERS	FORTIDIA	ITALY	Transport & Logistics	BC Partners has completed a strategic investment to acquire a majority ownership stake in Fortidia, a global platform for shipping and business services. The stake was acquired from the company's founding Fiorelli family and funds managed by Oaktree Capital Management
02/2026	ADVENT INTERNATIONAL / FEDEX CORPORATION / A&R INVESTMENTS / PPF GROUP	INPOST	POLAND	Transport & Logistics	The transaction involves the acquisition of InPost by a consortium led by Advent International and FedEx Corporation, with A&R Investments Ltd. and PPF Group also participating as investors. The consortium has agreed to acquire all outstanding shares of InPost at a price of EUR 15
01/2026	CEREA PARTNERS	WIIO (WIRELESS INPUT OUTPUT)	FRANCE	Transport & Logistics	This transaction represents a sponsorless management buyout wherein the incumbent executive team successfully acquires full control of Wiio. To securely finance this corporate transition without relying on a traditional majority private equity shareholder, the management leveraged a bespoke mezzanine debt facility provided by Cerea
01/2026	WERNER ENTERPRISES	FIRSTFLEET	UNITED STATES	Transport & Logistics	Werner Enterprises acquired FirstFleet, Inc. for $245 million in cash for the operating business The acquisition is immediately accretive to EPS and establishes Werner as the 5th largest dedicated carrier in the U.S...
12/2025	GROUPE ALAINE	GAMBA & ROTA	FRANCE	Transport & Logistics	The Groupe Alaine has acquired a majority stake in Gamba & Rota, a recognized specialist in wine and spirits logistics. This acquisition allows Alaine to strengthen its "premium" service offering and integrate advanced automated warehousing capabilities (Autostore) into its network
12/2025	PEGASUS AIRLINE	CESKE AEROLINIE	CZECH REPUBLIC	Transport & Logistics	Deal Description: The group has finalized a definitive agreement to acquire the target in a move designed to fundamentally transform its European network density. The strategic rationale for this transaction centers on a "market-unification" play, merging the target's industry-leading technical operational depth in the Czech leisure market with the group’s established global low-cost infrastructure
12/2025	GEODIS	GROUPE MALHERBE	FRANCE	Transport & Logistics	In a major market consolidation move, the logistics giant GEODIS has signed an agreement to acquire the Groupe Malherbe. This "Corporate" transaction marks the exit of financial investors (Siparex, etc
12/2025	GD HELICOPTER FINANCE (GDHF)	NHV GROUP	BELGIUM	Transport & Logistics	Ardian reached a definitive agreement to divest 100% of its interest in NHV Group to GD Helicopter Finance. This industrial exit marks the culmination of a twelve-year transformation where Ardian supported NHV's evolution from a regional player into a diversified European leader
12/2025	GROUPE JARDEL	GROUPE NAVAL	FRANCE	Transport & Logistics	The Groupe Jardel continues its external growth strategy by acquiring the Groupe Naval, a significant player in the South-West of France. This acquisition allows Jardel to strengthen its density on the Atlantic coast and reinforce its expertise in refrigerated transport for retail chains

REFERENCES

Valuation range: EV 3b - 100b AUD

Revenue range: 2.5b - 5b AUD

EBITDA range: 450M - 900M AUD

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of QUBE by MACQUARIE are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Press release: view release

Target: qube

Acquirer: macquarie