Dentressangle Acquire U.S. 3PL Provider Jacobson

By George Backwell
Monday, September 01, 2014
Warehouseman at work: Photo Dentressangle

France's Norbert Dentressangle says it has completed the previously announced acquisition of all the shares of privately held U.S. third party logistics (3PL) provider, Jacobson Companies from Oak Hill Capital Partners.

The transaction was valued at $750 million (€560 million) in cash on a debt-free and cash-free basis, plus a capped earn-out relating to future performance. The acquisition is being financed through a combination of Norbert Dentressangle reserves and available credit lines. The deal has received all necessary regulatory approvals.

Headquartered in Des Moines, IA, Jacobson is one of the largest value-added warehousing 3PL provider in North America with integrated domestic transportation management capabilities, with annual revenue of approximately $800 million in 2013, 9.5% EBITDA margin and 5,500

Herve Montjotin, Chief Executive Officer of Norbert Dentressangle, said, "We are very pleased to announce the completion of this deal. The closing of this acquisition will enable us to begin integrating Jacobson into the Norbert Dentressangle Group and to begin this new step in our development in the U.S., a strategic market for us."

The transaction increases the scale of Norbert Dentressangle, both globally with a +15% increase in annual revenue to $6.8 billion USD (€5 billion), and also in the U.S. logistics and transport market where the group becomes scalable with approximately $800 million USD (€600 million) of annual gross revenues in 2013.

Norbert Dentressangle is an international logistics, transport and air and sea company, with annual revenue of €4.0 billion (USD $5.5 billion) in 2013.

www.norbert-dentressangle.com 

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

China Merchant Boosts Efficiency of VLCCs with Jotun HP

China Merchant Energy Shipping Co., Ltd (CMES) will upgrade the antifouling solution on their VLCCs New Builds at Dalian Shipbuilding Industry Co., Ltd. (DSIC)

ESAB Boasts Over a Century of Technological Innovation

September 2014 marks the 110th anniversary of ESAB Welding & Cutting Products. A world leader in welding and cutting technology, with the broadest, most complete

SMM 2014 Witnesses Record Turnout

SMM was another full success. With more than 2,100 exhibitors from all around the world, including 150 first-timers, with 50,000 industry visitors and roughly 90,

Finance

Deal to End Lockout at Canada Uranium Mine

Canadian uranium producer Cameco Corp and the United Steelworkers union, which represents 535 workers at the world's largest uranium mine and a nearby mill,

Oil Refiner Bound to Goldman, Deutsche Fee Agreements - NY Judge

CVR Energy Inc is bound by agreements to pay Goldman Sachs Group Inc and Deutsche Bank AG more than $36 million in fees and expenses stemming from billionaire

Short-Term U.S. Energy Outlook

The U.S Energy Information Adminstration have provided projections in their short-term Energy Outlook. The highlights are as follows: Highlights     *

Logistics

Kalmar's Super Gloria Sets world record at Lidhult, Sweden

Kalmar, part of Cargotec, has entered the record books thanks to the remarkable heavy lift capabilities of its latest reachstacker, named Super Gloria. The reachstacker

Tanzania Receives $565m to Expand Port

Tanzania signed a $565 million deal on Friday with the World Bank and other development partners to expand its main port of Dar es Salaam, part of plans to boost

essDOCS Opens Americas Headquarters

U.S. East Coast office to serve customers in the Americas; set to advance company’s wider global eDoc adoption strategy Provider of shipping & trade eDocs solutions

Mergers & Acquisitions

Bibby Offshore Opens Office in Stravanger, Norway

Bibby Offshore Holdings Limited, [the subsea services provider to the oil & gas industry, is pleased to announce its continued international expansion with the opening of an office in Stravanger,

Hapag-Lloyd, CSAV Merger Wins Conditional EU Approval

Hapag-Lloyd and Compania SudAmericana de Vapores (CSAV) secured conditional European Union approval on Thursday for their tie-up to create the world's fourth-largest container shipping company.

PGS Completes Fleet Adjustment

Petroleum Geo-Services ASA announced today that it has implemented further steps to streamline operations, reduce cost and capital expenditures and improve cash flow.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Pipelines Pod Propulsion Port Authority Salvage Ship Repair Ship Simulators Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1231 sec (8 req/sec)