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Date Target Buyer(s) Transaction Comments

3/19/2016Air Transport Services Group, Inc

Amazon.com

Amazon has reached an agreement with Air Transport Services Group Inc. tooperate an air cargo network servicing Amazon customers in the United States.The deal includes 20 Boeing 767 freighter aircraft leases. The deal providedAmazon with the option to convert warrants into a 19.9% owner of AirTransport Services Group Inc.

3/4/2016 Terra Technology, LLC E2open, Inc.

Terra Technology, LLC offers sophisticated demand sensing, multi-echeloninventory optimization and transportation forecasting solutions thatincorporate data from the extended supply chain (e.g. point of sale andlogistics data) and advanced algorithms to improve supply chain performance.

2/3/2016Alliance Supply Management

Ship Supply International

Ship Supply International, a portfolio company of H.I.G. Capital, has acquiredAlliance Supply Management, a U.S.-based company that offers port logisticservices. The acquisition is expected to broaden Ship Supply's productoffering, diversify its customer base and allow it to develop a national andglobal platform for commercial port logistic services.

1/22/2016 UTi Worldwide Inc. DSV A/S

UTi Worldwide Inc. is an integrated logistics company that provides supplychain logistics services and planning and optimization solutions. UTi wasvalued at $1.59 billion. The combined company will be one of the world'slargest transport and logistics networks.

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Market Cap Stock Price Price/ Price/ TEV/ TEV/Company Symbol State ($ in Mil) Price Month Change YTD Change LTM EPS Book Rev EBITDAAmazon.com, Inc. NASDAQ: AMZN WA $ 279,511 $ 593.64 7.44% (12.17%) 292.1x 20.9x 2.6x 35.3xCH Robinson Worldwide Inc. NasdaqGS:CHRW MN $ 10,633 $ 74.23 6.30% 19.69% 21.0x 9.3x 0.8x 12.5xJB Hunt Transport Services Inc. NasdaqGS:JBHT AR $ 9,500 $ 84.24 10.42% 14.83% 22.8x 7.4x 1.7x 9.9xXPO Logistics, Inc. NYSE:XPO CT $ 3,366 $ 30.70 23.99% 12.66% NM 1.3x 1.2x 21.4xMatson, Inc. NYSE:MATX HI $ 1,745 $ 40.17 0.20% (5.77%) 13.3x 3.9x 1.1x 6.8xFedEx Corporation NYSE:FDX TN $ 43,678 $ 162.72 18.88% 9.22% 33.0x 3.0x 1.0x 6.7xManhattan Associates, Inc. NasdaqGS:MANH NA $ 4,151 $ 56.87 2.91% (14.05%) 41.4x 21.2x 7.2x 23.8xRoadrunner Transportation Systems, Inc. NYSE:RRTS NY $ 477 $ 12.46 6.86% 32.13% 10.2x 0.8x 0.5x 7.1xProvidence and Worcester Railroad Company NasdaqGM:PWX MA $ 70 $ 14.40 6.51% 4.05% 43.5x 0.9x 1.8x 10.3xUnion Pacific Corporation NYSE:UNP NE $ 67,332 $ 79.55 0.87% 1.73% 14.7x 3.3x 3.7x 8.0xUnited Parcel Service, Inc. NYSE:UPS GA $ 93,204 $ 105.47 9.24% 9.60% 20.8x 37.9x 1.8x 10.6x

Average $ 46,697 $ 114.04 8.62% 8.41% 24.5x 8.9x 2.1x 11.7x

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