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Supply chain M&A demand is accelerating, major consolidators said at an Axios Pro-moderated panel yesterday at Manifest 2026.

State of play: A deal pickup would signal recovery from a weaker-than-expected 2025, attributed to tariff whiplash and a tough economy.

What they're saying: "This year, the pipeline is amazing," said Harris Computer portfolio leader Jean-Pascal Gagnon. "There's a lot of opportunity. ... It's a very active market right now."

"In terms of new opportunities and the market outlook, the global economy is still growing," said Vlad Bilanovsky, WiseTech chief execution officer. "The number of shipments is still growing."

Winners: AI-native startups and traditional software firms injecting AI into their operations captured about half of supply chain VC funding last year, per Cambridge Capital founder Ben Gordon.

E-commerce, food, health care, and cross-border logistics are other growth areas for deals.

Losers: Startups that can't clearly differentiate in a crowded supply chain tech market — or that offer a grab bag of services without leading in any one— will struggle to attract investment.

U.S. trucking and logistics firms are seeing some green shoots but have been stuck in a prolonged down cycle that has put many deals on ice.

What's next: Consolidation is "going to get brutal" and swallow or bankrupt many logistics providers, Bilanovsky cautioned. "We're partially guilty," he acknowledged.

With technology removing complexity, "it's going to get easier, and it's going to accelerate," the WiseTech executive added. "So if your business is serving very small customers, you should be very careful."

What we're watching: Acquirers could face a limited window to close deals this year before the primary elections this fall slow down the market again.

The bottom line: "In supply chain as a whole, there's a lot of grounds for optimism," Gordon said.

Go deeper: Supply chain CEOs expect busy 2026 for deals 

Supply chain CEOs expect busy 2026 for deals

"A very active market": Supply chain M&A appetite is growing, consolidators say

A deal-heavy 2026 would be a rebound from a weaker-than-expected 2025.

Red Arts Capital co-CEO Chad Strader speaks during the Unpacking M&A panel moderated by Axios' Colin Campbell at Manifest 2026 in Las Vegas.

Red Arts Capital co-CEO Chad Strader (far right) speaks during the Unpacking M&A panel moderated by Axios Pro's Colin Campbell (far left) at Manifest 2026 in Las Vegas. Photo: Courtesy of Manifest

Supply chain M&amp;A demand is accelerating, major consolidators said at an Axios Pro-moderated panel yesterday at Manifest 2026.State of play: A deal pickup would signal recovery from a weaker-than-expected 2025, attributed to tariff whiplash and a tough economy.

"A very active market": Supply chain M&A appetite is growing, consolidators say

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