Succession in logistics and transport: buying, selling or handing over a haulier

The chambers of commerce name the skills shortage as the main reason: many professional drivers will retire in the next few years and new ones are hard to find. Add low margins, strong competition and rising costs for staff, tolls, vehicles and fuel.

The shift to new drive systems adds uncertainty: a buyer has to decide when and how to renew the fleet. That makes valuation harder, but also gives room to negotiate.

A business can stay in the family, pass to employees or be sold to an outsider.

According to KfW's succession monitor, most Mittelstand owners would prefer a family solution, followed by a sale to outsiders. Management buy-outs have recently been planned more often again.

A takeover has no fixed timetable, but these steps almost always come up:

Succession works when not only the successor is prepared, but the business too. These steps help:

Small and mid-sized businesses are usually valued by capitalised earnings: what counts is the profit the business can generate over time. The starting point is the adjusted profit of recent years. An owner's salary is deducted, meaning what a hired managing director would cost. The rest is converted into a value with a rate that reflects the risk.

For hauliers, old vehicles, running leases and dependence on a few clients push the value down. Long framework contracts, a young driver team and in-house route planning push it up.

According to KfW's 2025 succession monitor, expected sale prices in the Mittelstand have risen by around 34 per cent since 2019. According to the DIHK's 2025 report, 36 per cent of retiring owners expect too high a price. An independent valuation early on protects both sides.

Commercial road haulage with vehicles over 3.5 tonnes needs a licence under § 3 of the German Road Haulage Act. Requirements include good repute, financial standing and professional competence. The company also has to name a transport manager who actually runs the transport operations.

Professional competence is usually shown by passing an exam at the chamber of commerce. You don't need it yourself if a qualified person is employed as transport manager. Whether a takeover needs a new licence depends on whether you buy shares or individual assets. Clarify this early with the licensing authority.

A transport business is worth as much as its customer contracts, its team and its fleet. Put these points on the table early:

KfW's ERP loan for start-ups and succession (077) finances up to 500,000 euros and at most 35 per cent of eligible costs. You apply through your own bank. If collateral is missing, the guarantee banks of the German states can back loans.

Vehicles are often financed through leasing or hire purchase. Running contracts feed into the valuation and should be discussed with the lessors early.

A vendor loan often completes the financing: the previous owner defers part of the price. According to KfW's 2025 succession monitor, expected sale prices in the Mittelstand have risen by around 34 per cent since 2019. A realistic valuation at the start saves both sides a lot of time.