Noatum to be $600m logistics player by buying MIQ

‘Strategic leap’ will almost triple Spain-headquartered company’s direct territorial logistics presence to 24 countries.

Maritime, logistics and port services company Noatum Maritime is set to acquire a US$600-million turnover international logistics capability by buying global logistics company MIQ Logistics, a move that will almost triple the Spain-headquartered logistics company’s direct territorial logistics presence to 24 countries.

Noatum Logistics, the Noatum Maritime division specialising in logistics, international transport and customs, has signed a definitive agreement to acquire MIQ Logistics, which is based in the US and has more than 60 offices in 19 countries. The agreement is expected to close in the coming weeks and with it to significantly expand Noatum’s logistics capability, with Noatum currently present in 10 countries: Spain, Portugal, France, Morocco, Algeria, Chile, Turkey, USA, UEA and China.

Noatum noted: “Once the agreement has been concluded, Noatum Logistics will have made a strategic leap as one of the world’s leading companies in its field, contributing greater added value to the logistics chain of all clients. With a consolidated turnover of more than 600 million USD, it will be present in 24 countries, combining operational and commercial synergies.

“Noatum Logistics had posted significant increases in its activity in recent years. With this acquisition, it will become a leading global logistics provider.”

In addition to almost tripling its current presence “by incorporating markets that are crucial for complementing its global range of services”, the acquisition will add “strategic countries including Japan, South Korea, Taiwan, China, Hong Kong, India, Vietnam, Thailand, Singapore, the Philippines and Malaysia in Asia; the United Kingdom and the Netherlands in Europe; Mexico, Argentina, Colombia, and Peru in Latin America and the United States”. In addition to these countries, Noatum Logistics has offices in Chile, Turkey, Portugal, Algeria, Morocco and Spain.

“With the same strategic business vision, in-depth knowledge and specialization of its professionals, Noatum Logistics will expand its multicultural character and innovative spirit by offering specific and valuable services for clients’ supply chain in different industrial sectors,” the company said. “Meanwhile, Noatum Logistics will keep its current network of agent partners, and continue to work to strengthen its relationships.”

The company said the workforces of MIQ Logistics and Noatum Logistics will be integrated, “as there is no geographical overlap except in Chile, where the services complement each other”. It added: “The consolidation of Noatum Logistics and MIQ Logistics will increase the geographical presence and will also significantly boost synergies with the group’s other two divisions: Noatum Maritime Services and Noatum Terminals.”

Noatum said the acquisition was part of the group’s “Strategic Plan”, and “makes Noatum Maritime, which is based in Spain, one of the leading groups in its sector on an international scale, with more than 2,400 employees and a direct presence in 26 countries.”

Antonio Campoy, CEO of Noatum Maritime, said: “Once the agreement has been concluded, with this acquisition, our Group will make a strategic leap. In a complex global context, in which business specialisation and the value of the logistics chain are crucial, Noatum Maritime will be significantly enhancing its international presence with the acquisition of MIQ Logistics, which will become part of our Noatum Logistics division.”

Rafael Torres, CEO of Noatum Logistics, commented: “MIQ Logistics has the same strategic business vision related to industrial diversification, and we will be almost tripling our direct territorial presence with different offices and locations. Both companies fully complement each other, and Noatum Logistics will have a global reach for the benefit of all our clients.”

John Carr, CEO of MIQ Logistics, commented: “We are excited to be part of Noatum Logistics, which will give us industrial strength and the capacity for development. Together, we will be able to grow more quickly, ensuring our employees and clients’ satisfaction at all times. This is the right move, at the right time with the right company.”

MIQ Logistics, which is based in Overland Park, Kansas (USA), was established in 2000 and was acquired by Austin Ventures from YRC Worldwide in 2010. MIQ Logistics currently has a direct presence with 15 locations in the United States; 11 countries and 26 locations in Asia; 13 locations in Latin America and 8 in Europe.

Noatum Maritime is a leading company in maritime, logistics and port services, and is structured in three business units: Noatum Maritime Services, Noatum Terminals and Noatum Logistics. The Group has offices in North and South America, Europe, North Africa, the Arabic Gulf and Asia.

Noatum Logistics operates as an integrated logistics operator through its own companies and a wide network of agents. Noatum Maritime Services covers a wide range of services, ranging from shipping agency to commercial representation, including specialised transport solutions. It also provides auxiliary services related to land transport, storage and distribution. Noatum Terminals is one of the leading port operators in Spain. With specialised terminals for bulk, general cargo and vehicles, it is present in fifteen Spanish ports and in the Khalifa Port (United Arab Emirates).

Source: Lloyd´s