AD Ports Group has announced the acquisition of Noatum, a global integrated logistics platform with a presence in 26 countries, for around US$680 million in a transaction that is expected to close in the first half of 2023.
AD Ports Group said it intends to create an international logistics brand, merging its existing logistics business with Noatum, which will lead AD Ports Group’s Logistics Cluster, consolidating the company’s existing logistics offering into its operations.
This is AD Ports Group’s third major international acquisition in 2022, following the acquisition of a 70% equity stake in Transmar and TCI in September, and the announcement in November of its acquisition of an 80% equity stake in Dubai-based Global Feeder Shipping (GFS).
Noatum, whose origins date back to 1963, operates in three business areas – Logistics, Maritime, and Port Terminals – with market-leading positions in Spain and Turkey and a significant presence in the United States, United Kingdom, China, and Southeast Asia.
"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," commented H.E. Falah Mohammed Al Ahbabi, chairman of AD Ports Group, who pointed out, "this acquisition makes AD Ports Group one of the most significant global players in the finished vehicle logistics, which we intend to expand in our home and core markets."
