- Time：2023/3/30 Posted：Shenzhen RSD International Freight Forwarding Co., Ltd
- It is reported that the Middle East port logistics giant AD Ports Group has announced the acquisition of Noatum, a Spanish based logistics company, for $680 million, a global integrated logistics group with operations in 26 countries. AD Ports said the transaction significantly expanded its global business scope and made it one of the world's leading logistics and freight forwarding companies.
It is understood that Noatum was founded in 1963 and operates in three business areas: logistics, shipping and port terminals. Its market share is mainly concentrated in Spain and Türkiye. It also has business in the United States, the United Kingdom, China and Southeast Asia.
Noatum's global logistics business focuses on integrated freight management, project logistics, contract logistics, international supply chain management, customs, and electronic solutions, with offices and a wide network of agents around the world.
According to AD Ports Group, Noatum has advanced capabilities in heavy haul cargo logistics, and the group hopes to introduce it to the Middle East. Noatum's terminal business includes operations at 15 ro/ro, dry bulk, general cargo, and container terminals in Spain, while its maritime department provides freight forwarding and cargo services such as liquid bulk, bulk cargo, refrigerated, and dry bulk cargo.
AD Ports stated that in recognition of the high growth potential and scale capabilities of Noatum, AD Ports Group intends to create a market leading international logistics brand by merging its existing logistics business with Noatum, in order to establish significant influence in the Middle East and strengthen its services provided globally. In the future, Noatum will lead the logistics cluster of AD Ports Group, integrating the group's existing logistics services into its business.
"This acquisition makes AD Ports Group one of the most important global players in the field of vehicle logistics, and we intend to expand this business in our local and core markets." said Falah Al Ahbabi, Chairman of AD Ports Group, "This ambitious acquisition has brought AD Ports Group a major global logistics platform, greatly enhancing our global connectivity, and expanding the range of shipping, logistics, and port solutions we can provide as we continue to pursue a strong growth strategy."
"This historic acquisition will become one of the most significant acquisitions in the industry this year," said Mohamed Al Shamisi, Managing Director and CEO of AD Ports Group.
After obtaining regulatory approval, the transaction is expected to be completed in the first half of 2023.
This transaction marks the third major international acquisition of AD Ports Group this year. Previously, the group acquired 70% of the equity of Transmar, a regional shipping company, and TCI, a terminal operator, in September. Earlier this month, it acquired 80% of Global Feeder Shipping (GFS), a Dubai based regional shipping company.
