• 2023 July 3 16:52

  AD Ports completes the acquisition of a global integrated logistics services provider Noatum

  

  AD Ports Group, one of the world’s premier facilitators of logistics, industry, and trade, has completed the acquisition of Noatum, a global integrated logistics services provider with a presence across 26 countries, after receiving approvals from all relevant regulatory bodies, according to the company's release.

  AD Ports Group received the final approval from Spanish Authorities, after it attained regulatory clearance from the European Commission earlier in the year. The total purchase consideration (Enterprise Value) for 100% ownership of Noatum amounts to AED 2.65 billion using the EUR:AED rate of 4.01 on the day of the signing (EUR 660 million), implying a Last Twelve Months EV/EBITDA of 5.9x..

  The Spain-headquartered company generated revenue and EBITDA of AED 6.4 billion (EUR 1.6 billion) and AED 448 million (EUR 111.6 million) in the last twelve months, respectively, performing in line with expectations since the transaction has been announced, and held a net debt position of AED 220 million (EUR 54.9 million), as of May 31, 2023.

  Full consolidation of Noatum has started since the day of signing on 30 June 2023.

  Given its significant scope of services, experience, and capabilities, Noatum will assume leadership of AD Ports Group's Logistics Cluster, with the process of integrating its businesses and team of 2,800 professionals into the Cluster’s operations commencing immediately.
  
  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. Combining its maritime, ports and logistics businesses, the company operates a comprehensive portfolio of trade and logistics services, with presence in 26 countries, alongside a comprehensive network of its 143 international offices.
  
  AD Ports Group’s intent to acquire Noatum was initially announced in November of 2022, and has been pending the necessary regulatory approvals.

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