Following its acquisition of Spanish maritime logistics provider Noatum last year, Abu Dhabi-based logistics firm AD Ports, has acquired finished vehicle logistics (FVL) firm Sesé Auto Logistics, part of Grupo Logístico Sesé.
The €81m ($88m) purchase, approved by European regulators and closed yesterday (January 31), will see the Abu Dhabi-based group enter the European FVL market.
Noatum said the acquisition is part of its “strategic vision to emerge as a leading European supplier of logistics services to the finished vehicle sector”.
Sesé Auto Logistics is engaged in road and rail transport logistics of light and heavy vehicles, operating from Spain, Germany, Poland, Czech Republic and Hungary. The firm serves OEMs including Renault, Stellantis, BMW and Daimler and has a fleet of over 200 trucks.
Through the integration, Noatum aims to provide a full end-to-end logistics service, including ro-ro terminal handling, vehicle transport and final delivery.
Mohamed Juma Al Shamisi, managing director and group CEO, AD Ports said: “This strategic move enhances our capabilities, expertise and logistics networks, and positions us well to expand within Europe and the Mediterranean region’s growing and lucrative finished vehicles logistics industry.”
Antonio Campoy, CEO, Noatum Group, Logistics Cluster, AD Ports 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.”
Noatum said it expects a trailing enterprise value to EBITDA ratio of 3.8 based on the company’s last 12-month performance to December 2023. Sesé Auto Logistics will be fully consolidated into Noatum from this month onwards.