Norbert Dentressangle has completed its takeover of TDG following approval of the deal by the European Commission.
The transaction values the share capital of TDG parent Laxey Logistics at £212m. Dentressangle is also taking on an estimated £30m of TDG’s debt, as a part of the deal. The acquisition was paid entirely in cash. Dentressangle expects to make full year saving of 12m euros (£10.5m).
Following the buyout, 53 per cent of Norbert’s business will be road transport with 1.95 billion euros in revenues. 44 per cent of the business will be logistics with 1.6 billion euros in revenues and nearly 6.5 million square metres of warehousing; and 3 per cent will come from freight forwarding, with revenues of 100 million euros.