RABAT, Aug 19 – Global investment firm A.P. Moller Capital has agreed to acquire a majority stake in Moroccan transportation and logistics company Globex Investissement, strengthening the Danish investment firm’s exposure to one of North Africa’s expanding logistics markets.
Two investment vehicles managed by A.P. Moller Capital, the Emerging Markets Infrastructure Fund II and APM Capital Morocco Fund, signed the agreement with the terms of the transaction not disclosed.
The investment firm said the transaction will establish a partnership with Globex founder and Chief Executive Officer Omar El Kadiri, who will continue to lead the company alongside its existing management team.
“The Funds will establish a partnership with the Globex CEO and Founder, Omar El Kadiri, who will continue to lead the business alongside an experienced management team, ensuring strategic continuity as the company enters its next phase of growth,” A.P. Moller Capital said.
The partnership is expected to provide Globex with additional support to expand its operations in Morocco while accelerating efforts to develop more environmentally efficient logistics activities.
Founded in Casablanca in 1998, Globex initially built its business around express delivery before expanding into a broader range of logistics services. Its operations now include road freight, freight forwarding, customs brokerage and related transportation services.
The company has also expanded its road transport platform through acquisitions. In October 2024, Globex acquired the entire share capital of Logic Transport, a Moroccan road transport and logistics company. At the time, Logic Transport operated more than 150 trucks and employed over 155 people across activities including road transport, transit, container handling and warehousing.
The acquisition allowed Globex to broaden its logistics capabilities beyond express delivery and strengthen its position in Morocco’s domestic freight market.
Globex also has operations in Senegal and Cameroon and connects to the wider FedEx network, giving its customers access to more than 220 countries and territories.
The company has been working to reduce the environmental footprint of its transport operations, including initiatives to measure and manage emissions associated with its vehicle fleet. The planned partnership with A.P. Moller Capital is expected to support further development of these efforts.
A.P. Moller Capital deepens Morocco strategy
The Globex transaction adds to A.P. Moller Capital’s growing investment focus on Morocco’s transportation and logistics infrastructure.
In February, the firm announced the final close of its Morocco-focused transport and logistics fund with MAD 1.64 billion ($178 million) in commitments. Its Emerging Markets Infrastructure Fund II subsequently committed an additional MAD 600 million ($65 million), bringing the total capital available to A.P. Moller Capital for Moroccan transport and logistics investments to MAD 2.24 billion ($243 million).
The firm has identified Morocco as a priority market, citing the country’s economic fundamentals, expanding nearshoring activity and continued investment in transport and logistics infrastructure.
The investment also follows Globex’s earlier partnership with private equity firm Amethis. In 2022, Amethis acquired a 30.5% stake in Globex to support the company’s expansion in Morocco and sub-Saharan Africa.
For A.P. Moller Capital, the Globex investment provides exposure to a logistics operator positioned within Morocco’s expanding trade and industrial ecosystem. For Globex, the partnership could provide additional capital and strategic capacity as it seeks to scale its operations and strengthen its position in Morocco and other African markets.
