Dubai: The AD Ports Group is continuing its overseas forays, this time through the acquisition in full of Sesé Auto Logistics, the finished vehicles logistics business of Spain's Grupo Logístico Sesé. The deal is valued at 81 million euros and should close out in Q1-2024.
The transaction was effected through Noatum, which heads AD Ports Group's logistics cluster operations.
Sesé Auto Logistics is into road and rail transport logistics for light and heavy vehicles, and mainly covers Spain, Germany, Poland, the Czech Republic and Hungary with a fleet of over 200 trucks.
The European company's clients include Renault, Stellantis, Mazda, Daimler, BMW, PSA and MAN. As for Noatum, its ambition is to be a leading European supplier of logistics services to the finished vehicle sector, a market category estimated to be at 3 billion euros. The projected annual growth is for 6 per cent over the medium term.
"Noatum aims to capitalise on this opportunity by expanding its network and capabilities across Europe following the acquisition of Sesé Auto Logistics," said a statement from AD Ports Group.
The transaction for Sesé Auto Logistics will also generate significant synergies with Noatum’s port terminals business in Spain, and 'reinforce Noatum Automotive’s services for Original Equipment Manufacturers (OEMs) and other stakeholders.
Noatum’s deal 'brings to us significant capabilities, expertise, and logistics networks, will help deliver on our vision as it will allow us to further expand within Europe’s growing and profitable automotive sector, and pave the way for us to become a leading global provider in the FVL industry', said Capt. Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group.