AD Ports Group has made a significant announcement regarding Noatum, which currently leads its Logistics Cluster operations. Noatum has entered into an agreement to acquire 100% equity ownership of Sesé Auto Logistics, which is the Finished Vehicles Logistics (FVL) division of Grupo Logístico Sesé. The total purchase consideration, known as Enterprise Value (EV), amounts to EUR 81 million.
This acquisition is anticipated to be finalized by the first quarter of 2024, pending regulatory approvals. The deal reflects an EV/EBITDA multiple of approximately 3.5x based on Sesé Auto Logistics’ performance over the Last Twelve Months (LTM) ending in August 2023. During this period, the company generated approximately EUR 100 million in revenue with an EBITDA margin of 22.5%.
Noatum foresees a return to normalcy in the European automotive logistics market, which has been factored into the business case for this transaction.
Sesé Auto Logistics specializes in road and rail transport logistics for both light and heavy vehicles and operates across five major European countries: Spain, Germany, Poland, Czech Republic, and Hungary. Their fleet of over 200 trucks covers more than 30 million kilometers annually throughout Europe. The company serves prominent Original Equipment Manufacturers (OEMs) such as Renault, Stellantis, Mazda, Daimler, BMW, PSA, and MAN. Sesé Auto Logistics is known for its advanced technology and eco-friendly approach, with a real-time visibility management system integrated with clients’ and suppliers’ systems for seamless information sharing.
This acquisition aligns with Noatum’s strategy to offer a comprehensive and vertically integrated solution for the automotive industry through the Noatum Automotive brand, encompassing the entire logistics value chain, from transport to distribution and final vehicle delivery to customers.
Moreover, this transaction is expected to yield significant synergies with Noatum’s port terminals business in Spain, enabling an integrated logistics solution that strengthens Noatum Automotive’s services for Original Equipment Manufacturers (OEMs) and other stakeholders. Noatum Automotive maintains its commitment to neutrality toward all stakeholders.
Noatum aims to become a prominent European provider of logistics services for the finished vehicle sector, capitalizing on the estimated EUR 3 billion FVL market in Europe with a projected annual growth rate of 6% in the medium term. The acquisition of Sesé Auto Logistics will enable Noatum to expand its network and capabilities across Europe.
Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, expressed that this acquisition will help AD Ports Group expand within Europe’s growing and profitable automotive sector, positioning them to become a leading global provider in the FVL industry.
Antonio Campoy, CEO of Noatum, Logistics Cluster, AD Ports Group, noted that this acquisition represents a significant milestone for Noatum and the AD Ports Group’s Logistics Cluster. Their goal is to enhance Noatum Automotive’s industry solutions, strengthen their product range throughout the logistics supply chain, and become one of the main global players in the automotive sector.
