UAE Business: AD Ports buys top logistics group Noatum for $681m – Gulf Digital News

UAE Business: AD Ports buys top logistics group Noatum for $681m – Gulf Digital News

AD Ports Group has announced that it has acquired Noatum, a global integrated logistics platform with a presence in 26 countries and LTM revenue and ebitda of AED6.91 billion and AED555 million, respectively.

The total purchase consideration (Enterprise Value) for 100% ownership amounts to AED2.5 billion ($681 million), implying an LTM EV/ebitda of 4.6x.

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 US, UK, China, and Southeast Asia.

Noatum’s global logistics business specialises in comprehensive freight management, project logistics, contract logistics, international supply chain management, customs, and e-solutions, with offices and a wide network of agents around the world.

In particular, Noatum has advanced capacities in heavy lift logistics, which AD Ports Group aims to bring to the region.

The company’s terminals operations include 15 Ro-Ro, dry bulk, general cargo and container terminals in Spain, supported by highly professional management, while its maritime division provides shipping agency services, including outsourcing and ancillary services, and cargo services, such as liquid bulk, breakbulk cargo, reefer and dry cargo.

Moving forward, Noatum will lead AD Ports Group’s Logistics Cluster, consolidating the company’s existing logistics offering