Norbert Dentressangle acquires Jacobson Companies from Oak Hill Capital Partners

Norbert Dentressangle, a leading publicly traded international logistics, transport and air and sea company, has announced it 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 $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 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, CEOr of Norbert Dentressangle, said, “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.”

“We are very pleased to become part of Norbert Dentressangle, an important player in the European logistics and transport market and a company whose culture and values are highly complementary to our own,” said Tony Tegnelia, COO and co-president of Jacobson. “We value the opportunity to join a thriving organization that will enable us to offer an enhanced suite of global services to our customers.”

Denis Nayden, chairman of Jacobson and a Managing Partner of Oak Hill Capital commented, “Since partnering with Jacobson, we have worked closely with its management team to build the company into a leader in supply chain management in the U.S. Now, as part of Norbert Dentressangle, Jacobson is positioned to be a cornerstone of a world class organization. We are very pleased that Jacobson’s employees and customers will be positioned for continued success as part of the Norbert Dentressangle Group.”

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. 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.