Home Business Abu Dhabi’s AD Ports Successfully Acquires Noatum, Expanding Logistics Services

Abu Dhabi’s AD Ports Successfully Acquires Noatum, Expanding Logistics Services

Abu Dhabi's AD Ports Successfully Acquires Noatum, Expanding Logistics Services

Abu Dhabi-listed AD Ports Group has successfully completed its acquisition of Noatum, a logistics services provider based in Spain. The deal, valued at 660 million euros (Dh2.5 billion), was finalized after receiving the necessary approval from Spanish authorities. AD Ports Group had initially announced the acquisition on November 18 of the previous year. Noatum is a global integrated logistics platform operating in 26 countries and generating a last twelve months (LTM) revenue of Dh6.91 billion and EBITDA of Dh555 million. The total purchase consideration for full ownership of Noatum amounts to Dh2.5 billion (660 million euros), indicating an LTM EV/EBITDA ratio of 4.6x.

AD Ports Group recognizes Noatum’s potential for growth and scalability, aiming to establish a leading international logistics brand. By merging its existing logistics business with Noatum, AD Ports Group aims to strengthen its presence in the region and enhance its services on a global scale. Noatum will now oversee AD Ports Group’s Logistics Cluster, consolidating the company’s current logistics offering into its operations.

This acquisition marks AD Ports Group’s third significant international acquisition in 2022, following the purchase of a 70% equity stake in Transmar and TCI in September, and the announcement of an 80% equity stake acquisition in Dubai-based Global Feeder Shipping (GFS) in November.

Established in 1963, Noatum operates across three key business areas: Logistics, Maritime, and Port Terminals. The company holds market-leading positions in Spain and Turkey, as well as a notable presence in the United States, United Kingdom, China, and Southeast Asia. With this strategic acquisition, AD Ports Group aims to expand its global footprint and solidify its position as one of the prominent players in the logistics and freight forwarding industry.

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