Noatum, AD Ports’ Logistics Cluster, has acquired 100 per cent equity ownership of Sesé Auto Logistics, the Finished Vehicles Logistics (FVL) division of Grupo Logístico Sesé, for €81 million ($87 million).
The acquisition implies a trailing EV/EBITDA ratio of 3.8x based on the company’s Last Twelve Months (LTM) performance to December 2023 – sales of about €106 million ($114 million), with an EBITDA margin of 21 per cent.
Noatum anticipates a normalisation of the European automotive logistics industry, which has been reflected into the deal business case.
The acquisition of Sesé Auto Logistics, which will be fully consolidated into Noatum from February 2024 onwards, aims to enhance Noatum’s standing in the European automotive logistics market.
The firm is well-known for its road transport logistics for light and heavy vehicles, and it works in most European countries, with offices in Spain, Germany, Poland, the Czech Republic, and Hungary, as well as a fleet of over 200 trucks that travel more than 30 million kilometres each year.
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, added: “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.”