Acquisition of Noatum propels Abu Dhabi Ports Group to become a global logistics platform

Acquisition of Noatum propels Abu Dhabi Ports Group to become a global logistics platform

AD Ports Group announced on Friday that it has acquired Noatum, a global integrated logistics platform with a presence in 26 countries, for Dh2.5 billion.

In the last 12 months (LTM), Noatum reported revenues of Dh6.91 billion and earnings before interest, taxes, depreciation and amortisation (EBITDA) of Dh555 million.

The total enterprise value (EV) “significantly broadens AD Ports Group’s global footprint and positions it among the leading logistics and freight forwarding companies in the world,” AD Ports said in a statement. The deal will be fully funded through a new acquisition loan, the company said.

AD Ports Group intends to create a market-leading international logistics brand, merging its existing logistics business with Noatum to create a significant presence in the region and enhancing services across the company’s global footprint. Moving forward, Noatum will lead AD Ports Group’s Logistics Cluster, consolidating the company’s existing logistics offering into its operations.

This will be AD Ports Group’s third major international acquisition in 2022, following the acquisition of a 70 per cent equity stake in Transmar and TCI in September, and the announcement in November of its acquisition of an 80 per cent equity stake in Dubai-based Global Feeder Shipping (GFS).

Noatum, whose origins date back to 1963, operates