Photo: AD Ports Group
AD Ports Group has acquired Spain-based Noatum, a global integrated logistics platform specialising in automobiles transport, for AED2.5bn ($680m).
The group said the deal significantly broadened its global footprint and positioned it among the leading logistics and freight-forwarding companies in the world.
“Recognising 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,” it said.
“Moving forward, Noatum will lead AD Ports Group’s logistics cluster, consolidating the company’s existing logistics offering into its operations,” it said.
The deal marks AD Ports Group’s third major international acquisition this year, after it acquired a 70% stake in Transmar and TCI in September, and an 80% stake in Dubai-based Global Feeder Shipping (GFS), earlier this month.
Founded in 1963, Noatum has three main businesses: logistics, maritime, and port terminals, with major assets in Spain and Turkey and a presence in the US, UK, China, and Southeast Asia.
“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.” Falah 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.”
According to AD Ports Group, Noatum has advanced capacities in heavy lift logistics, which the Middle East-based port operator aims to bring to the region. The company’s terminals operations include 15 ro-ro, dry bulk, general cargo and container terminals in Spain, while its maritime division provides shipping agency and cargo services, such as liquid bulk, breakbulk cargo, reefer and dry cargo.
“This historic acquisition is set to be one of the most significant in the industry this year,” said Capt. Mohamed Al Shamisi, managing director and group CEO, AD Ports Group.
“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. We will leverage the acquisition of Noatum to build a strong international logistics brand with deep roots in this region.”
