- Navig8 Joins ADNOC L&S to Strengthen Energy Maritime Logistics Operations.
- ADNOC L&S Expands Fleet and Service Portfolio with Navig8 Acquisition.
- Navig8’s Global Fleet and Market Reach Enhance ADNOC L&S’ Capabilities.
Navig8 TopCo Holdings Inc. has, under the acquisition terms, become a subsidiary wholly owned by the global energy maritime logistics leader ADNOC Logistics and Services plc, also known as ADNOC L&S. The acquisition was finalized on 8 January 2025, in which ADNOC L&S will enhance its strength through the incorporation of Navig8’s 32 modern tankers and the latter’s stronghold in 15 cities across five continents. Complete ownership of Navig8 is planned for 2027, reports Navig8.
Role of Navig8 in the Marine Sector
Navig8 was established by Gary Brocklesby and Nicholas Busch in 2007. Navig8 is recognized as a market leader in providing international shipping pool operations and commercial management. It has an additional investment portfolio besides its fleet; it also invests in technical management companies and marine fuels provider who serves more than 1,000 ports worldwide as well as in other enterprises servicing the broader maritime sector.
Strengthening the ADNOC L&S Service Portfolio
The acquisition is a milestone for ADNOC L&S as it expands its services to include commercial pooling, bunkering services, and comprehensive energy maritime logistics solutions. It opens new avenues for the company to enrich its customer value proposition and access untapped markets, creating synergies across its operations.
CEO Remarks on Strategic Growth
Nicolas Busch, CEO of Navig8, said: “We are excited to join forces with ADNOC L&S and the wider ADNOC Group. This achievement highlights the exceptional efforts of the Navig8 team over the past two decades, setting the stage for this next phase. Together, we aim to deliver even greater benefits to our customers, supporting ADNOC L&S’s growth and expanding Navig8’s presence in new markets.”
Captain Abdulkareem Al Masabi, CEO of ADNOC L&S, said: “The completion of this landmark acquisition is a significant milestone in our transformational growth strategy. By integrating Navig8’s extensive fleet and global presence, we can enhance our service offerings, generating substantial value for customers and shareholders. This strategic move unlocks new opportunities for commercial growth and expansion into new markets, reinforcing our position as a leading global energy maritime logistics company.”
Details of the Financial Deal
ADNOC L&S has bought an 80 per cent stake in Navig8 for $1.04 billion (AED 3.8 billion). The economic interest will begin on January 1, 2024. The remaining 20 per cent of the company will be bought in mid-2027. The deferred consideration will vary between $335 million and $450 million (AED 1.2 billion to AED 1.7 billion), depending on Navig8’s EBITDA performance during the interim period.
A Strategic Step Forward
This acquisition marks a turning point in the growth strategy of ADNOC L&S as it reinforces its position as a global leader in energy maritime logistics. Integrating Navig8’s expertise, fleet, and global footprint into ADNOC L&S positions it to create great value for customers and shareholders alike while opening new markets for its business.
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Source: Navig8
