European Consortium Acquires Maritime Service Provider ‘V.Group’

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  • European investment fund manager STAR Capital and Belgian holding company Ackermans & van Haaren (AvH) are leading a consortium buying V.Group from Advent International.
  • The transaction is subject to regulatory approvals. Upon closing, which is expected to take place in the second half of 2024, AvH will hold 33.3% of V.Group for an equity investment of $150m excluding acquisition debt financing.

STAR Capital (“STAR”), a leading European investment fund manager, is pleased to announce that the STAR IV Fund has signed an agreement to acquire V.Group, a global provider of mission critical services to the maritime industry. STAR will lead a consortium of investors including Ackermans & van Haaren (Euronext: ACKB) and others to partner with V.Group’s management team, reports Marine Insight.

The transaction is subject to regulatory consents and is expected to complete in early autumn 2024. Financial terms have not been disclosed.

V.Group sold to European interests

V.Group provides a wide range of mission-critical services to its customers, such as technical ship management, crew management, crew welfare services (e.g. catering, travel, and digital wallets & payment cards), leveraged procurement, technical services, specialist insurance broking, and modern shipping-specific digital solutions.

V.Group is headquartered in London, United Kingdom. The company has a global presence with 50 offices across 30 countries and employs c. 2,900 employees worldwide. In addition, the group has access to the world’s largest international network of over 44,000 seafarers to provide its clients with professional crews. It currently services approximately 3,500 vessels from pedigree shipowners and managers alike, with safety and compliance at the heart of V.’s operating model.

V.Group represents the STAR IV Fund’s fourth investment.

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Source: Marine Insight