UAE Business: AD Ports acquires global logistics platform Noatum – Gulf Digital News

UAE Business: AD Ports acquires global logistics platform Noatum – Gulf Digital News

AD Ports Group has acquired Noatum, a global integrated logistics platform with a presence in 26 countries and LTM (last twelve months) revenue and EBITDA of AED6.91 billion ($1.88 billion) and AED555 million, respectively.

The total purchase consideration (enterprise value) for 100% ownership amounts to AED2.5 billion, implying an LTM EV/EBITDA of 4.6x. This value and earnings accretive acquisition, which significantly broadens AD Ports Group’s global footprint and positions it among the leading logistics and freight forwarding companies in the world, will be fully funded through a new acquisition loan, said AD Ports.

Recognising Noatum’s high growth potential and capacity to scale, 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, it said.

This will be AD Ports Group’s third major international acquisition in 2022, following the acquisition of a 70 percent 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,