Report

Initiation: The Norbert way

Norbert Dentressangle has positioned itself as a global player in transportation and logistics from a strong European base. 2014 was a pivotal year in this strategy, with the acquisition of Jacobson positioning the group as the fourth largest independent player in the US. With consolidation activity gathering pace, we see this not as the end, but merely the beginning of the journey in the $150bn US 3PL market. With a growth strategy driven by increasing geographic reach, scale and service scope, we believe that Norbert should increasingly be viewed as a top tier international supply chain player. The current rating sits at a 31% discount to international peers and we view Norbert’s positioning as more akin to DHL, Kuehne+Nagel and DSV than local peers or single service providers.
Underlying
Norbert Dentressangle

Provider
Edison Investment Research
Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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