AD Ports expansion

The total purchase consideration (Enterprise Value) is US$140 million and the deal is the first international acquisition for AD Ports Group, helping the group grow its business in Egypt, North Africa, the Gulf and along the Red Sea.

AD Ports Group has expanded its global footprint significantly over the past year, announcing a series of new investments on key trade routes for the UAE including Jordan, Uzbekistan, Tanzania and Egypt.

“This acquisition provides us with a controlling position in two regional market leaders and enhances our presence along key trade lanes,” said Captain Mohamed Juma Al Shamisi, managing director and Group chief executive, AD Ports Group.

“We see significant opportunity for leveraging the expertise and experience of Transmar and TCI to enhance our commercial offering across the Gulf region and North Africa.”

Transmar is a regional container shipping company that operates across the Middle East, Red Sea, Arabian Gulf and Eastern Coast of Africa. It has special capabilities for handling petrochemical products, which make up a significant proportion of trade in these regions.

TCI is a terminal operator and stevedoring company specialising in project cargo handling, heavy lift, breakbulk, industrial breakbulk, general cargo and container handling, as well as warehousing and storage facilities.

Together, Transmar and TCI are on track to deliver revenue and EBITDA of around US$137 million and US$65 million, respectively, for 2022. The El Ahwal family and the executive team will remain in place at the helm.