APMT has reached an agreement with Perez y Cia to acquire their majority stake in the Barcelona-based Grup Maritim TCB and its maritime services’ container terminal portfolio in Europe and Latin America.
Grup Maritim TCB has 11 container terminals with an annual throughput capacity of 4.3 million TEU and an estimated annual container volume of 3.5 million TEU.
The transaction is expected to close by the end of 2015 and is subject to certain conditions, including relevant approvals. Terms and price were not disclosed.
Grup Maritim TCB consists of Spanish container terminal concessions in Barcelona, Valencia and Castellon, on the Mediterranean coast, along with the concessions in Gijon, on the Bay of Biscay, and in the Canary Islands: Santa Cruz on Tenerife and La Palma on Gran Canaria. Outside of Spain, Grup Maritim TCB’s terminal operations include Izmir, Turkey; Yucatan, Mexico; Quetzal, Guatemala (under construction, opening 2016); Buenaventura, Colombia, on the Pacific Coast; and Paranagua, Brazil.
Kim Fejfer, CEO of APMT, said: “This is an exciting investment for APMT, which adds complementary locations to our portfolio in high-growth markets throughout Latin America, in Turkey and a strong gateway presence in Spain.
“Equally important, Grup Maritim TCB is one of the best run terminal businesses in the market with a history dating back to 1972, when it was first established by the Perez-Maura family in Barcelona. The company has earned a reputation for excellent service and professional people. Being a family company with these attributes makes a combination with APM T a natural fit.”
Nils S. Andersen, CEO of parent company Maersk, said: “With its robust financial performance and balance sheet, the Group is in a strong position to make investments of this kind in volatile markets and pursue growth opportunities—both organically and by acquisition.
“The acquisition supports our growth plans and value proposition towards APM Terminals' wide range of customers in Europe and Latin America.”
Grup Maritim TCB CEO, Xavier Soucheiron stated “This agreement with APM Terminals marks a landmark moment in the Grup Maritim TCB journey. We share the same core values and views on how to build on our market momentum, where to invest in port upgrades and improve the entire TCB portfolio for clients. Together we can achieve even more potential in the APMT family.
This latest portfolio expansion of the APM Terminals Global Terminal Network increases the number of operating facilities to 74, in 40 countries across five continents.