AD Ports Group has announced the successful completion of its acquisition of Noatum, a globally recognized logistics services provider operating in 26 countries. The acquisition received approvals from all relevant regulatory bodies, including the final clearance from Spanish Authorities following earlier approval from the European Commission.
The total purchase consideration for full ownership of Noatum amounts to AED 2.65B (EUR 660M), with a Last Twelve Months EV/EBITDA ratio of 5.9x. Noatum reported revenue of AED 6.4B (EUR 1.6B) and EBITDA of AED 448M (EUR 111.6M) in the past twelve months, in line with expectations. Full consolidation of Noatum into AD Ports Group began on June 30, 2023.
In a transformative move, AD Ports Group has completed the milestone acquisition of Noatum, uniting two prominent players in the industry and establishing a global powerhouse in the trade and logistics sector. With their respective strengths and capabilities, this acquisition marks a significant step forward.
Given the extensive range of services, experience, and capabilities possessed by Noatum, the company will take the helm of AD Ports Group’s Logistics Cluster. The integration process has already begun, with Noatum’s team of 2,800 professionals joining forces with the Cluster’s operations, paving the way for enhanced synergy and growth.
AD Ports Group Acquires Noatum: Uniting Global Trade and Logistics
Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, of AD Ports Group, said: “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. This landmark acquisition is a testament to our wise leadership’s enduring support and aligns seamlessly with our long-term growth strategy. 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. 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.”
Noatum’s maritime business encompasses shipping agency services, and cargo solutions for liquid bulk, breakbulk, reefer, and dry cargo, while its ports business operates bulk, container, reefer, ro-ro, and multi-purpose terminals across 16 ports in Spain and the UAE. Additionally, its logistics arm provides end-to-end services, including multi-modal freight management, contract logistics, customs clearance, global supply-chain management, project cargo, and e-solutions.
Antonio Campoy, CEO of Noatum, expressed enthusiasm about joining the AD Ports Group, emphasizing the shared commitment to long-term projects, creating opportunities, and fostering growth. The acquisition of Noatum not only expands AD Ports Group’s global reach and service offerings but also enables the realization of synergies such as revenue enhancement, cost savings, shared purchasing power, knowledge exchange, and technology adoption.
