AD Ports Group (ADX: ADPORTS), a global leader in logistics, industry, and trade facilitation, is proud to announce that Noatum, now at the helm of its Logistics Cluster operations, has inked an agreement to acquire 100% equity ownership of Sesé Auto Logistics. This strategic move marks a significant step toward Noatum’s goal of offering comprehensive solutions for the automotive industry across the entire logistics value chain.
The acquisition, valued at EUR 81 million, encompasses Sesé Auto Logistics, the Finished Vehicles Logistics (FVL) division of Grupo Logístico Sesé. The transaction is slated for completion in Q1 2024, pending regulatory approvals. With a trailing EV/EBITDA of approximately 3.5x based on Last Twelve Months (LTM) performance through August 2023, which includes revenues of about EUR 100 million and an impressive EBITDA margin of 22.5%, this acquisition positions Noatum for substantial growth.
Sesé Auto Logistics specializes in road and rail transport logistics for both light and heavy vehicles. The company operates in five key European countries: Spain, Germany, Poland, the Czech Republic, and Hungary. Its fleet of over 200 trucks covers more than 30 million kilometers annually throughout Europe. Sesé Auto Logistics serves renowned OEMs, including Renault, Stellantis, Mazda, Daimler, BMW, PSA, and MAN, among others. The company is lauded for its commitment to leveraging cutting-edge technology and resources to enhance efficiency while minimizing environmental impact. It boasts a real-time visibility management system integrated with clients’ and suppliers’ systems, facilitating automatic information sharing.
The acquisition of Sesé Auto Logistics forms an integral part of Noatum’s strategy to provide a holistic solution to the automotive industry through the Noatum Automotive brand. This solution encompasses the entire logistics value chain, from transportation to distribution and the final delivery of vehicles to customers. Moreover, this transaction is expected to generate significant synergies with Noatum’s port terminals business in Spain, offering an integrated logistics solution that will bolster Noatum Automotive’s services for Original Equipment Manufacturers (OEMs) and other stakeholders. Noatum Automotive maintains its commitment to neutrality among all its stakeholders.
Noatum aspires to become a leading European provider of logistics services for the finished vehicle sector. The European FVL market is estimated at EUR 3 billion, with a projected annual growth rate of 6% in the medium term. Noatum aims to capitalize on this opportunity by expanding its network and capabilities across Europe following the acquisition of Sesé Auto Logistics.
Captain Mohamed Juma Al Shamisi, Managing Director, and Group CEO of AD Ports Group, expressed the significance of Noatum’s addition to AD Ports Group. He emphasized the alignment of this acquisition with the group’s strategy to expand its presence and create end-to-end supply chains in global markets, particularly in Europe and the Mediterranean Region. Al Shamisi highlighted how Noatum’s acquisition of Sesé Auto Logistics enhances AD Ports Group’s ability to penetrate Europe’s growing and profitable automotive sector, positioning them to become a leading global provider in the FVL industry.
Antonio Campoy, Chief Executive Officer of Noatum, Logistics Cluster, AD Ports Group, shared his enthusiasm for this milestone acquisition. He emphasized Noatum’s commitment to enhancing industry solutions and fortifying its product range throughout the logistics supply chain. Campoy’s vision is for Noatum to emerge as a major global player in the automotive sector, leveraging the strengths brought by the acquisition of Sesé Auto Logistics.
