EFG Hermes concludes advisory on UAE-based AD Ports acquisition of 70% stake in Transmar and TCI

The total purchase consideration or enterprise value of the deal is around $140m.

EFG Hermes announced today that its Investment Banking Division successfully concluded advisory on UAE-based AD Ports' acquisition of a 70% stake in two Egypt-based maritime and terminal operating companies — Transmar International Shipping (Transmar) and Transcargo International (TCI).
The total purchase consideration or enterprise value of the deal is around $140m.
EFG Hermes acted as the sole sell-side financial adviser to Transmar and TCI's shareholders, with White & Case acting as a legal counsel.
Established in 1979 by pioneer Mostafa Al-Ahwal and managed by the Al-Ahwal family, Transmar and TCI have grown to become a pivotal part of the maritime industry in Egypt and the region at large. Boasting an expansive track record of over four decades, the sister companies specialise in container shipping, liner operations, terminal handling operations, stevedoring and warehousing, domestic transportation, integrated logistics, and more. The Al-Ahwal family and their executive team will continue to manage the two companies after the transaction.
AD Ports was founded in 2006. Today, it is one of the region's premier companies operating in the logistics and trade space. Leveraging more than 10 ports and terminals across the region, AD Ports' operational scope encompasses port operations, industrial cities, free zone maritime services, and logistics operations.
In February 2022, the company became listed on the Abu Dhabi Securities Exchange with a market capitalisation of $7bn as of 11 September.
Commenting on the transaction, Mostafa Gad — Co-Head of Investment Banking at EFG Hermes — said: "We are incredibly proud to have been advisers on this high-profile transaction between Transmar/TCI and AD Ports as we continue to bring our clients one step closer to achieving their business goals."
"This acquisition marks a major milestone for the Egyptian logistics sector, which continues to garner significant traction on a regional and global scale. We believe that AD Ports' entry into the Egyptian market through its first overseas acquisition of the well-established Transmar and TCI brands will not only aid AD Ports in embarking on its expansion journey but will also further link Egypt to more global value chains. Transmar and TCI play an undeniable role in connecting the region's economies and bolstering regional trade through an expansive presence."
Transmar is a leading private container shipping business that was founded by the Al-Ahwal family. The company operates mainly in the Red Sea and specialises in the transportation of containers.
As a prominent business with a history going back over 40 years, the company boasts a client portfolio of companies in the petrochemicals, FMCG, construction, and electronics sectors.
Meanwhile, TCI is a terminal handling operator based in Adabiya — a strategic port in the Red Sea. The company focuses on port operations, container handling, and bulk and general cargo.