Abu Dhabi, UAE – AD Ports Group on Sunday announced that it has acquired Noatum, a global integrated logistics services provider with a presence across 26 countries, for $0.72 billion.
The acquisition has received approvals from all relevant regulatory bodies, including from Spanish Authorities, after it attained clearance from the European Commission earlier this year.
The Spain-headquartered company generated revenue and EBITDA of AED 6.4 billion ($1.74 billion)) and AED 448 million ($122 million) in the last twelve months, respectively, performing in line with expectations since the transaction was announced, and held a net debt position of AED 220 million ($60 million), as of May 31, 2023.
The acquisition brings together two major industry players to form a global powerhouse in the trade and logistics space.
Noatum will assume leadership of AD Ports Group’s Logistics Cluster, with the process of integrating its businesses and team of 2,800 professionals into the Cluster’s operations.
“We are delighted to have obtained regulatory approval for the acquisition, and on behalf of AD Ports Group, I would like to welcome Noatum and its entire team to our extended corporate family,” Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said. “We look forward to leveraging our integrated cross-Cluster business model and working together to unlock unprecedented value for our respective customers, partners and stakeholders.”
Noatum brings significant growth potential and scalability thanks to its asset light operating model and presence in all major global markets, including Europe, Asia, Africa, North America and South America. Combining its maritime, ports and logistics businesses, the company operates a comprehensive portfolio of trade and logistics services alongside a comprehensive network of its 143 international offices.
Noatum’s maritime business offers shipping agency services, inclusive of outsourcing, ancillary, and cargo solutions such as liquid bulk, breakbulk cargo, reefer, and dry cargo, while its ports business includes bulk, container, reefer, ro-ro and multi-purpose terminal operations located across 16 ports in Spain and the UAE, alongside dedicated depots and warehouses. Its logistics arm provides complete end-to-end services inclusive of multi-modal freight management, contract logistics, customs clearance and trade compliance, global supply-chain management, project cargo, and e-solutions.
The portfolio supports a spectrum of industry sectors including automotive and aerospace, chemicals, construction, renewable energy, FMCG, industrial manufacturing, oil and gas, mining, healthcare and life sciences, and retail.
Antonio Campoy, Chief Executive Officer, Noatum, said: “Throughout our 60-year history as a company, our goals have always been to build strong long-term projects, create new opportunities for the future, and grow alongside our clients, our people, and our stakeholders. Today, as part of AD Ports Group, these objectives are more meaningful than ever, as together we are going to build one of the most robust logistics companies in the world.”
AD Ports Group’s intent to acquire Noatum was initially announced in November of 2022, and has been pending the necessary regulatory approvals.