Workforces will be integrated, as there is no geographical overlap except in Chile
Noatum Logistics has signed a definitive agreement to acquire MIQ Logistics, which is based in the US and has 60 plus offices in 19 countries. MIQ Logistics, which is based in Overland Park, Kansas, was established in 2000 and was acquired by Austin Ventures from YRC Worldwide in 2010.
The agreement is expected to close in the coming weeks. 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 chains of clients. With a consolidated turnover of more than US$600.0 million, it will be present in 24 countries, combining operational and commercial synergies.
Noatum Logistics has posted significant increases in its activity in recent years. With this acquisition, it will become a global logistics provider. In addition to almost tripling its current presence by incorporating markets that are crucial for complementing its global range of services, adding strategic countries including Japan, South Korea, China, Hong Kong, India, Vietnam, Thailand, Singapore, the Philippines and Malaysia in Asia; the UK and the Netherlands in Europe; Mexico, Argentina, Colombia, and Peru in Latin America and the US.
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 specialisation 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. Meanwhile, Noatum Logistics will keep its current network of agent partners, and continue to work to strengthen its relationships.
Both 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.
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. The operation, which is part of its Strategic Plan, 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.