Insider Media Limited

Norbert Dentressangle, based in Northampton, has bought Manchester-headquartered rival company TDG in a deal worth £196m. The transport and logistics company will acquire the entire share capital of TDG’s parent company, Laxey Logistics, through the deal which is expected to close in January.

France-headquartered Norbert Dentressangle said that the transaction will “create a new group with annualised revenues of €3.6bn”.

The company added that it expects the transaction to be earnings accretive within the first quarter of the year.

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

The purchase was made alongside investment fund Douglas Bay Capital.

TDG recorded revenues of £662min its 2009 annual results. TDG has its headquarters in Manchester and employs 6,300 people at 134 sites. The company estimates that its 2010 revenues should total £700m.

François Bertreau, chief executive officer of Norbert Dentressangle, said: “TDG is a leading player in the market and we are very happy and proud of this agreement with DouglasBay Capital PLC.

"While retaining our financial flexibility this transaction consolidates our presence in each of our three sectors and considerably strengthens our freight forwarding business, allowing us to better meet the needs of our clients at international level. I am confident in our ability to integrate TDG quickly and effectively, improving our services to clients and making the most of best practice on both sides.”

The company said that the “strategic” acquisition will “further strengthen Norbert Dentressangle’s ability to invest in strategic areas such as information systems, engineering and research and development”.