AD Ports Group, the leading facilitator of global trade, logistics, and industry, has acquired Noatum, a Spain-based global integrated logistics platform.
The total purchase consideration for 100 percent ownership amounts to $681 million, implying an LTM EV/EBITDA of 4.6x. This value and earnings accretive acquisition, which significantly broadens AD Ports Group’s global footprint and positions it among the leading logistics and freight forwarding companies in the world, will be fully funded through a new acquisition loan.
Recognizing Noatum’s high growth potential and capacity to scale, AD Ports Group intends to create a market-leading international logistics brand, merging its existing logistics business with Noatum to create a significant presence in the region and enhancing services across the company’s global footprint. Moving forward, Noatum will lead AD Ports Group’s Logistics Cluster, consolidating the company’s existing logistics offering into its operations.
This will be AD Ports Group’s third major international acquisition in 2022, following the acquisition of a 70 percent equity stake in Transmar and TCI in September, and the announcement in November of its acquisition of an 80 percent equity stake in Dubai-based Global Feeder Shipping (GFS).
Falah Mohammad Al Ahbabi Chairman – AD Ports
“Under the direction of our wise leadership, AD Ports Group continues to extend our global footprint through value-adding acquisitions and partnerships with market leaders. This ambitious acquisition brings a major global logistics platform into the AD Ports Group family, significantly enhancing our global connectivity and extending the range of maritime, logistics and ports solutions we can offer as we continue to pursue a determined strategy for growth. This acquisition makes AD Ports Group one of the most significant global players in finished vehicle logistics, which we intend to expand in our home and core markets.”
Noatum, whose origins date back to 1963, operates in three business areas, Logistics, Maritime, and Port Terminals, with market-leading positions in Spain and Turkey and a significant presence in the US, UK, China, and Southeast Asia.
In addition, the company has specialized automotive, project cargo, and port logistics divisions and offers comprehensive supply chain solutions in the oil & gas, renewable energies, food, industrial manufacturing, pharma and healthcare, and retail industries with customized solutions for clients.
Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, of AD Ports Group, said that “We thank the leadership of the UAE for their guidance and support for this historic acquisition, which is set to be one of the most significant in the industry this year. Bringing Noatum into our integrated network of businesses will add scale and new layers of expertise, supporting both our global ambitions and our contribution to economic diversification within the UAE.”
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