AD Ports Group has announced the acquisition of Noatum, a global integrated logistics services provider with a presence across 26 countries.
The UAE ports major said it completed the acquisition process after receiving approvals from all relevant regulatory bodies.
AD Ports received the final approval from Spanish Authorities, while it received regulatory clearance from the European Commission earlier in the year.
The acquisition cost is estimated at AED2.65 billion.
The Spain-headquartered Noatum generated revenue and EBITDA of AED6.4 billion (EUR1.6 billion) and AED448 million (EUR111.6 million) in the last twelve months, respectively.
The acquisition brings together two major industry players, each with its strengths and capabilities, to form a global powerhouse in the trade and logistics space.
AD Ports said given its significant scope of services, experience, and capabilities, Noatum will assume leadership of the Group’s logistics cluster, with the process of integrating its businesses and team of 2,800 professionals into the cluster’s operations commencing immediately.
Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said the Group looked forward to leveraging the integrated cross-cluster business model and working together to unlock unprecedented value for its respective customers, partners and stakeholders.
“The future of trade and logistics relies on integration, resilience and innovation, and by taking this transformative step together we are charting a path to realising our collective mission of becoming one of the top global trade and logistics providers,” he said.
For its part, 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.
The company operates a comprehensive portfolio of trade and logistics services, with a presence in 26 countries, alongside a comprehensive network of its 143 international offices.
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.
Noatum joins AD Ports Group
Antonio Campoy, Chief Executive Officer, Noatum, said the company was thrilled to join the AD Ports Group family.
“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,” Campoy said.
For AD Ports Group, the acquisition of Noatum will generate several important synergies, including revenue enhancement, cost savings, joined purchasing, transfer of best practices, market expertise, and adoption of cutting-edge technology.
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