New Establishment in Morocco for Log’s Group
01/04/2019
Septentrion Finance is pleased to have supported Log’s in its majority stake acquisition of Timar Tanger Med (TTM), a subsidiary of TIMAR Group, listed on the Casablanca Stock Exchange.
Log’s continues its expansion with a majority acquisition of Timar Tanger Med (TTM), a subsidiary of TIMAR Group, listed on the Casablanca Stock Exchange.
Tanger, thanks to its rapidly growing port, serves as a major strategic gateway to the African continent for goods coming from all over the world.
Founded in 2011 to capitalize on the development of Tanger’s port activity, TTM provides logistics services (handling incoming flows via the port and national and international redistribution) for international groups and suppliers delivering to the Renault Tanger plant.
Log’s is thus acquiring three warehouses located in the Tanger Med port zones and the Tanger Free Trade Zone, employing around fifty people.
This investment offers Log’s a dual strategic benefit: commercial and operational synergies, and a foothold on the African continent to leverage the region’s dynamic growth.
This strategic partnership will allow both groups to contribute their expertise. Log’s brings its specialization in industrial and distribution logistics, while Timar offers international freight forwarding expertise and in-depth knowledge of Morocco and Africa.
Moreover, the doubling of port capacity scheduled for 2019, the arrival of the high-speed train (TGV), and the opening of the PSA Group’s factory in Kenitra will create a favorable environment for logistics market growth.