Amethis has sold its stake in Globex, ending a four-year investment in one of Morocco’s major logistics companies. The private equity firm invested in Globex in 2022 with founder and chief executive Omar El Kadiri. The company has since expanded its transport services, customer base and network across the country.
Globex took a major step in 2024 when it bought Logic Transport. The deal added more than 150 heavy trucks and 155 employees. It also allowed Globex to offer domestic and international road transport to businesses.
The company already provided express delivery, freight forwarding, warehousing, customs clearance and other logistics services.
Globex, legally known as Global Express Courrier, was founded in 1998 as an express delivery company operating under a FedEx licence. It is now the exclusive FedEx and TNT Express licence holder in Morocco.
The company connects Moroccan businesses to more than 220 countries and territories through the FedEx network.
Amethis and Globex also worked on the company’s internal structure. Globex improved its financial reporting, hired senior managers and started a plan to cut carbon emissions.
The company has carried out carbon-footprint assessments and introduced electric vehicles, route-planning tools and energy-saving measures.
“Our partnership with Amethis has been instrumental in Globex’s transformation over the past four years,” Omar El Kadiri said. “Together, we have built a stronger, more resilient company that is well positioned for its next phase of development.”
A.P. Moller Capital is now set to become Globex’s new majority investor. The Danish investment firm has agreed to buy a majority stake through its Emerging Markets Infrastructure Fund II and APM Capital Morocco Fund.
El Kadiri will remain chief executive and continue to run the company with his management team.
The new owner plans to invest in greener logistics. Its plans include solar-powered logistics hubs, more electric delivery vehicles and tools that allow customers to track and report carbon emissions.
The deal still needs approval from Morocco’s Competition Council.
Globex employs more than 350 people and serves industries such as automotive, aerospace, textiles, pharmaceuticals and e-commerce.
The company will now enter its next phase with a new investor and a larger road transport business.
