QUBE acquired by MACQUARIE
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
LOGIN
Equity Value
LOGIN
Multiples
EV / Revenue
LOGIN
EV / EBITDA
LOGIN
EV / EBIT
LOGIN
Historical Financials (AUD)
Similar deals in Business Services
| 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. This transaction represents a key strategic step in SAL's international expansion and its ambition to build a global logistics platform. By acquiring a well-established cargo handling operation at Liege Airport, one of Europe's busiest and most important air cargo hubs, SAL gains a significant operational foothold in the European market |
| 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. This transaction represents a partnership, as Chairman and CEO Paolo Fiorelli will continue to lead the company and will also retain a significant equity position. For Fortidia, this partnership arrives at a pivotal moment, intended to fuel ambitious plans for strengthening its competitive position, accelerating international expansion, and enhancing its financial profile |
| 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 15.60 per share, valuing the company at approximately EUR 7.8 billion. The transaction is expected to be completed in the second half of 2026, subject to regulatory approvals and other customary closing conditions. The consortium believes that the transaction will support InPost's growth plans and help the company achieve its strategic objectives, including the expansion of its parcel locker network and the development of its consumer-centric digital solutions |
| 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. This highly flexible financial structure perfectly empowers the leadership to maintain total strategic independence while securing the vital capital backing required to seamlessly transition ownership |
| 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., increasing its dedicated revenue by ~50%. The deal aims to capture $18 million in annual synergies within two years by optimizing purchasing power and fleet density in the Eastern U.S. |
| 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. The integration of Naval adds approximately 250 drivers to Jardel's workforce, pushing the group's total revenue past the EUR250 million milestone. |
| 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. This structural alignment provides the organization with the scientific talent and logistical hardware (specifically an additional 47 aircraft) required to address the increasing demand for affordable cross-border travel in the CEE region |
| 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. The acquisition allows GDHF to internalize NHV's specialized operational platform, creating a vertically integrated group capable of managing the entire lifecycle of mission-critical rotary-wing assets. The combined entity is positioned to dominate the North Sea and West African offshore markets by leveraging GDHF's fleet pipeline and NHV's MRO and pilot training certifications |
| 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.) and the end of Malherbe's independent LBO cycles. By integrating Malherbe, GEODIS significantly strengthens its French road transport network, creating a combined entity with EUR2 billion in revenue solely in this segment (Road Transport), capable of competing with European leaders. |
| 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. For Gamba & Rota, joining a larger family-owned group ensures the company's durability and development while retaining its management team. |
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