Tuesday , 17 September 2019
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French transport company Norbert Dentressangle has announced it is acquiring all the shares of Laxey Logistics Ltd, a holding company which owns the UK transport and logistics company Transport and Development Group (TDG) for £196m (€235m).

Norbert Dentressangle to acquire TDG

The transaction, which is subject to the agreement of the European competition authorities and should be finalised around 10 January 2011, will be paid in cash from a combination of Norbert Dentressangle reserves and currently available credit lines.

TDG is a major European player in transport, logistics and freight forwarding, and in 2009 its revenue was £662m (€795m). Headquartered in Manchester, TDG makes 74% of its revenues in the UK, 12% in the Benelux countries, 8.5% in Spain, 4% in Ireland and 1.5% in Germany. The company also operates in Hungary.

TDG offers an integrated service which includes 1.2m sq ms of warehouses, 1,350 tractor units and 2,600 trailers. 2010 revenues are estimated at about £700m (€840m).

This transaction will take Norbert Dentressangle’s estimated pro forma 2010 revenues to Euro 3.6bn with 57% from outside France. After completion of the transaction Norbert Dentressangle estimates that its level of debt will be “reasonable.”