Barcelona, Spain (PortSEurope) December 9, 2021 – The US fund HIG Capital, via its infrastructure investment vehicle, is favourite to acquire Noatum from its current owner, JPMorgan Asset Management, for around €600 million ($ 679.5 million). German logistics operator Rhenus is reported to have withdrawn from the bidding. Private equity firm Carlyle has also dropped out of the tender for Noatum.
HIG has just launched a fund with €2,000 million that wants to look at operations in adjacent infrastructures and services.
The HIG executive for the proposal is Andrew Liau, co-head of the infrastructure team, and Banco Santander has been hired as an advisor.
Noatum has 2,300 employees in three divisions: transport logistics, maritime services and terminal operations. The group provides an integrated service for clients to bring their goods from anywhere in the world to ports in Spain and other parts of the western Mediterranean. The origin of Noatum is in the port business of Dragados, acquired in 2010 by JP Morgan and other investors.
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