A.P. Moller Capital has agreed to buy a majority stake in Globex Investissement, a transport and logistics company operating under the FedEx brand in Morocco. The deal will bring A.P. Moller Capital together with Globex founder and CEO Omar El Kadiri. He will remain in charge of the company, working with its current management team.
“This investment will establish a partnership with Omar El Kadiri, founder and CEO of Globex, who will continue to lead the company alongside the existing management team as the company enters its next phase of growth,” A.P. Moller Capital said.
Globex operates in express delivery, road freight, freight forwarding and customs brokerage. It also has exclusive licensing agreements in the local market.
The new partnership will support Globex’s plans to expand its business in Morocco. The company also wants to make its logistics operations more environmentally friendly.
Its plans include solar-powered logistics hubs, electric vehicles, CO2 reporting tools and stronger environmental, social and governance (ESG) practices.
Accuracy advised A.P. Moller Capital on the deal. Aomar Elalamy, a partner at the financial and strategic advisory firm, confirmed the transaction in a LinkedIn post.
The deal fits A.P. Moller Capital’s investment strategy in infrastructure, transport and logistics in Morocco and North Africa, Elalamy said.
The acquisition still needs to meet several conditions, including approval from the Moroccan Competition Council.
