(Adds details from call)
PARIS, July 31 French logistics group Norbert
Dentressangle is to buy U.S.-based Jacobson Companies from
private equity fund Oak Hill Capital Partners in a deal worth
$750 million aimed at giving it critical mass in the United
The global air, sea and land transport group said the
transaction was on a debt-free and cash-free basis with a capped
earn-out - extra rewards for the seller relating to future
It will be funded through Norbert Dentressangle reserves and
available credit lines and is expected to close mid-September.
Norbert Dentressangle CEO Herve Montjotin said the purchase
was part of the family-controlled group's aim to become a top
player in global supply-chain management.
The acquisition of Des Moines, Iowa-based Jacobson, which
runs 3 million square metres of warehousing across 142 sites in
the United States and a fleet of 350 tractor units and 1,225
trailers, will add $800 million dollars to revenue to reach some
It will make the French group "scalable" in the fast-growing
U.S. logistics and transport market, Norbert Dentressangle said.
The Dentressangle family owns 67 percent of the business.
(Reporting by Mark John and Andrew Callus, Editing by Tim