Noatum completes Sesé Auto Logistics buy for $88.14mln

Noatum completes Sesé Auto Logistics buy for $88.14mln

UAE - AD Ports Group has announced that Noatum, which leads its Logistics Cluster operations, successfully closed the acquisition of 100% equity ownership of Sesé Auto Logistics, for an enterprise value of EUR81 million ($88.14 million). The acquisition, which was approved by all relevant European regulators and closed today, solidifies Noatum's commitment to providing comprehensive solutions across the entire logistics value chain in the automotive industry. The acquisition of the Finished Vehicles Logistics (FVL) business of Grupo Logístico Sesé implies a trailing EV/EBITDA of 3.8x based on the company’s Last Twelve Months (LTM) performance to December 2023 - revenue of around EUR106 million, with EBITDA margin of 21%. Automotive logistics market normalisation Going forward, Noatum expects a normalisation of the European automotive logistics market, which has been factored in the transaction business case. The acquisition of Sesé Auto Logistics, which will be fully consolidated into Noatum from February 2024 onwards, enhances Noatum's standing in the European automotive logistics market. The company is renowned for its road transport logistics of light and heavy vehicles, and operates in most European countries - with offices in Spain, Germany, Poland, Czech Republic, and Hungary - and a fleet of over 200 trucks covering more