HIG and Rhenus expected to further bid for Noatum
Madrid, Spain (PortSEurope) November 15, 2021 – U.S. investment fund HIG and German logistics operator Rhenus are set to submit bids to acquire Noatum from current majority shareholder JP Morgan Asset Management. U.S. venture capital firm Carlyle was initially interested but is not likely to submit a further bid. Current offers are around €800 million with Noatum’s 2021 revenues forecast at €1 billion. HIG has
just launched a fund with €2,000 million that wants to look at operations in adjacent infrastructures and services. Rhenus provides logistics service by land, sea and air to large clients from 820 locations around the world, some of them in Spain. Noatum, headed by Antonio Campoy, has 2,300 employees spread over three divisions. Transport logistics, maritime services and the operation of terminals. The origin of Noatum is in the port business of Dragados, acquired in 2010 by JP Morgan and other investors. Copyright (C) PortSEurope. All Rights Reserved. 2021.
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