Abu Dhabi (AD) Ports Group has acquired Noatum, Spain’s integrated logistics platform.
AD Ports Group intends to create an international logistics brand, merging its existing logistics business with Noatum to create a significant presence in the region and bolster services across the company’s global footprint.
Noatum will lead AD Ports Group’s logistics cluster, consolidating the company’s existing logistics offering into its operations.
The total purchase consideration for 100 per cent ownership amounts to Dhs2.5bn (EUR660m). The value and earnings accretive acquisition will be fully funded through a new acquisition loan.
This will be AD Ports Group’s third major international acquisition in 2022, following the acquisition of a 70 per cent equity stake in Transmar and TCI in September, and the announcement in November of its acquisition of an 80 per cent equity stake in Dubai-based Global Feeder Shipping (GFS).
Noatum, whose origins date back to 1963, operates in three business areas – logistics, maritime and port terminals – with a presence in Spain, Turkey, the US, UK, China, and Southeast Asia.
Noatum’s global logistics business specialises in comprehensive freight management, project logistics, contract logistics, international supply chain management, customs and e-solutions, with offices and a wide network of agents around the world.
In particular, Noatum has advanced capacities in heavy lift logistics, which AD Ports Group aims to bring to the region.
The company’s terminals operations include 15 Ro-Ro, dry bulk, general cargo and container terminals in Spain, supported by highly professional management, while its maritime division provides shipping agency services, including outsourcing and ancillary services, and cargo services, such as liquid bulk, breakbulk cargo, reefer and dry cargo.
The company, which employs more than 2,600 professionals, provides tailored multi-modal transport solutions, comprehensive logistics services, and advanced port operations across its key markets, aligning with AD Ports Group’s integrated business model.
In addition, the company has specialised 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 customised solutions for clients.
Subject to regulatory approvals, the transaction is expected to close in H1 2023. As part of the transaction, Noatum’s management is locked in for a period of three years to ensure smooth integration.
Falah Mohammed Al Ahbabi, chairman of AD Ports Group, said: “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.”
Captain Mohamed Juma Al Shamisi, managing director and group CEO, AD Ports Group, said: “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.
“Noatum operates an asset-light model with a high cash conversion rate and will make an immediate contribution to our financials, at the same time as positioning us for international expansion. We will leverage the acquisition of Noatum to build a strong international logistics brand with deep roots in this region.”