3PL provider Jacobson becomes part of ND Group

Norbert Dentressangle acquires Jacobson Companies, a leading contract logistics and transport provider in the US market, for EUR 560 million

Norbert Dentressangle, a leading publicly traded international logistics, transport and air and sea company, has signed an agreement with the private equity firm Oak Hill Capital Partners to acquire all the shares of privately held U.S. third party logistics (3PL) provider, Jacobson Companies. The transaction is valued at USD 750 million (EUR 560 million) in cash on a debt-free and cash-free basis, plus a capped earn-out relating to future performance. The acquisition will be financed through a combination of Norbert Dentressangle reserves and available credit lines. The deal, which is expected to close mid-September 2014, is subject to regulatory approvals.

Hervé Montjotin, Chief Executive Officer of Norbert Dentressangle, says, “The acquisition of Jacobson is a key milestone in Norbert Dentressangle’s development strategy to become a top-tier player in global supply-chain management and a step change in expanding our global reach. As a leading contract logistics provider in the buoyant U.S. logistics and transport sector, Jacobson is an ideal strategic fit for Norbert Dentressangle.”

The transaction increases the scale of Norbert Dentressangle, both globally with a +15% increase in annual revenue to USD 6.8 billion USD (EUR 5 billion), and also in the U.S. logistics and transport market where the group becomes scalable with approximately USD 800 million (EUR 600 million) of annual gross revenues in 2013. It will enable Norbert Dentressangle to expand its geographical footprint in the fast-growing U.S. logistics and transport market, with significant room for further development. Additionally, by including the current air and sea presence of Norbert Dentressangle in the U.S., the combination creates opportunities to offer fully integrated value-added services to its customers and those of Jacobson, both in the U.S. domestic market and globally.

Founded in 1968 and headquartered in Des Moines, IA, Jacobson is one of the largest value-added warehousing 3PL providers in North America with integrated domestic transportation management capabilities. Jacobson had annual revenue of approximately USD 800 million USD in 2013, 9.5% EBITDA margin and 5,500 employees. Capitalizing upon diversified business mix and customer base, Jacobson operates two divisions with nationwide coverage: Contract Logistics Services with 3 million square meters of warehousing across 142 sites and Transportation with a fleet of 350 tractor units and 1,225 trailers. The company has a strong expertise and market position in industry verticals such as Food and Beverages, Chemicals, Agriculture, Consumer goods, and Durables. Jacobson serves more than 1,800 customers in the U.S. with a focus on added-value services (co-packing, co-manufacturing, reverse etc.) and benefits from being recognized for its quality of service.

www.norbert-dentressangle.com

Quelle: LogEastics
Portal: www.logistik-express.com