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Noatum Successfully Completes the Acquisition of Sesé Auto Logistics
 
Noatum Successfully Completes the Acquisition of Sesé Auto Logistics

Closing of the transaction marks Noatum’s strategic leap in the European automotive logistics industry


Abu Dhabi, UAE – 31 January, 2024: AD Ports Group (ADX: ADPORTS), one of the world’s premier facilitators of logistics, industry, and trade, announces that Noatum, which leads its Logistics Cluster operations, successfully closed the acquisition of 100% equity ownership of Sesé Auto Logistics, the Finished Vehicles Logistics (FVL) business of Grupo Logístico Sesé, for a total purchase consideration (Enterprise Value - EV) of EUR 81 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 implies a trailing EV/EBITDA of 3.8x based on the company’s Last Twelve Months (LTM) performance to December 2023 - revenue of around EUR 106 million, with EBITDA margin of 21%. 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 than 30 million kilometres annually.

Sesé Auto Logistics’ reputation for technological innovation and commitment to environmental sustainability aligns seamlessly with Noatum's vision for growth. By integrating the company into Noatum’s Automotive brand, Noatum aims to provide a full end-to-end logistics solution - from RoRo Terminal handling, to vehicle transportation, to final delivery. This strategic move anticipates significant synergies with Noatum's existing port terminals business in Spain, reinforcing its integrated logistics solution for Original Equipment Manufacturers (OEMs) and other stakeholders. Noatum Automotive maintains its strategy of neutrality towards all its stakeholders. 

The acquisition is part of Noatum's strategic vision to emerge as a leading European supplier of logistics services to the finished vehicle sector, capitalising on the projected 6% annual growth in the continent’s EUR 3 billion FVL market. The integration of employees and the rollout of the new brand, Noatum Auto Logistics, are already underway, reinforcing Noatum's commitment to excellence in the automotive logistics industry.

Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said: “With the necessary regulatory approvals secured, Noatum's acquisition of Sesé Auto Logistics signifies an important step in realising AD Ports Group’s vision for becoming a leading global logistics services provider with broad international reach across all leading industry sectors, inclusive of automotive. This strategic move enhances our capabilities, expertise, and logistics networks, and positions us well to expand within Europe’s and the Mediterranean Region’s growing and lucrative Finished Vehicles Logistics industry.” 

Antonio Campoy, Chief Executive Officer, Noatum Group, Logistics Cluster, AD Ports Group, said: 'Our main focus with Noatum Auto Logistics is to enhance our industry solutions to meet our customers' evolving needs and to strengthen our product range across the logistics supply chain, which will enable us to compete as a major player in the global automotive sector.'

Posted by : Abu Dhabi and Al Ain PR Network Editorial Team
Viewed 698 times
PR Category : Shipping and Logistic
Posted on : Thursday, February 1, 2024  3:28:00 PM UAE local time (GMT+4)
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