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Noatum snaps up Spanish FVL firm: AD Ports Group’s logistics subsidiary Noatum has acquired 100% equity ownership of Spanish Finished Vehicles Logistics (FVL) outfit Sesé Auto Logistics for EUR 81 mn, according to a statement. Whispers of the buyout began last October when the transaction was still pending regulatory approval.
What happens next? Sesé Auto Logistic operates in most European countries with a fleet of over 200 trucks in Spain, Germany, Poland, Czech Republic, and Hungary. The company will be fully integrated into Noatum beginning February 2024 further consolidating Noatum’s operations in Spain and permitting it to offer integrated end-to-end logistics solutions, including RoRo handling, vehicle transportation, and delivery. The outfit will be rebranded as Noatum Auto Logistics, with efforts to integrate employees ongoing, the statement said.
The move is in line with Noatum’s strategy to become a leading player in Europe’s EUR 3 bn FVL market, which is forecasted to grow at 6% per annum, the statement added.
Noatum has been on an acquisition spree: The outfit rebranded AD Ports’ freight-forwarding arm Micco Logistics to Noatum Logistics Middle East earlier this week, taking over Micco’s operations as the freight forwarder for upwards of 80% of Abu Dhabi’s oil, gas, and petrochemical projects via a 400 vehicle fleet. Earlier this month saw Noatum acquire 100% of APM Terminals Castellón in Spain for EUR 10 mn, as the company looked to consolidate its operations in the country.
REMEMBER- AD Ports Group finalized its acquisition of Spain-based Noatum in mid-2023, after receiving regulatory greenlight, with the outfit being valued at EUR 660 mn at the time.
