The two groups have relatively similar profiles, combining transport activities (58% of the turnover of Norbert Dentressangle and 32% of TDG), logistics (43% for ND and 54% for TDG) and transport chartering (13% for TDG and a recently launched activity at ND). They have also both founded their development on an asset-based approach, even if the profile of TDG is slightly less pronounced than that of the French company.

Cash

In concrete terms, Norbert Dentressangle will acquire the shares of Laxey Logistics (the holding company which owns TDG) from investment fund Douglas Bay. TDG is currently valued at 192 million pounds sterling, some 235 million Euros, but this may be revised upwards before the closing date, expected to be in January of next year. “The value of certain real estate assets and the integration of second half profits should bring the definitive purchase price up to around 205 million pounds”, explained CEO Patrick Bataillard during a press conference. Norbert Dentressangle will finance this transaction from its reserves with just a part via its investment credit lines.

International development

According to CEO François Bertreau, this takeover will speed up the international development of the Norbert Dentressangle group, for which the proportion accounted for by France in the turnover figure has decreased from 75% to 40% in barely five years. In the future, 53% of the group’s turnover will come from the transport division, which is to strengthen considerably in the transport of hazardous goods, large volumes (principally in the UK), and fuel transport (also mainly in the UK). This division now has a fleet of 8,000 tractor units and 11,000 semi-trailers.

Where logistics are concerned, which will account for 44% of turnover, Norbert Dentressangle is inheriting a healthy client portfolio and seeing its real estate portfolio increase to 6.5 million square metres of warehousing, while also taking advantage of supply chain expertise which, amongst others, has enabled TDG to develop substantial horizontal collaboration projects with groups such as Kimberley-Clark, in the same manner as those which Norbert Dentressangle has also established in the domain of tyres.

And finally, this takeover will enable Norbert Dentressangle to attain an interesting critical size (100 million Euros of turnover… at least) in the domain of shipping, a domain in which ND launched itself on its own in January, and which received a first boost on November 3rd with the takeover of the activities of Schneider Logistics.