V.Group (\u201cV.\u201d), the global provider of mission critical services to the maritime industry, is pleased to announce that a consortium led by STAR Capital (\u201cSTAR\u201d) including Ackermans & van Haaren (Euronext: ACKB) and others (\u201cConsortium\u201d) has signed an agreement to acquire the company from Advent International. The transaction is subject to regulatory consents and is expected to complete in early autumn 2024. Financial terms have not been disclosed.<\/p>\n
This transaction is an endorsement of V.\u2019s client-focused strategy and ambition to be the Committed Partner of Progress for Everything at Sea. STAR and the Consortium will provide V. with a strong financial foundation from which to further grow and to accelerate the continuing strategic development of the company, all the while further enhancing V.\u2019s steadfast commitments to clients, seafarers, and the responsible stewardship of the seas.<\/p>\n
Rene Kofod-Olsen, CEO of V.<\/strong> said: \u201cI am truly excited to welcome such well-respected, long-term investors with deep shipping sector experience to assume the ownership of V. I have no doubt that this transaction will further strengthen V., allowing us to accelerate investments across our shipping and services platform to the benefit of our customers, employees and the industry.<\/em>\u201d<\/p>\n Graham Westgarth, Chair of V.<\/strong> said: \u201cI would like to congratulate the V. team on their new ownership with STAR and its Consortium and continuing the tremendously positive developments of recent years, in establishing V. as the shipping industry\u2019s partner of choice. I am looking forward to the company\u2019s continued success.<\/em>\u201d<\/p>\n Aditya Bindal, Partner of STAR<\/strong> said: \u201cV. is an excellent fit for STAR\u2019s investment strategy with its strong brand and leading position in a highly fragmented market, making it a natural leader in providing technical management and marine services to fleet owners and operators, including those turning to outsourced services for the first time. We have been impressed by the team, their track record and vision for the company, and look forward to supporting them as they continue to deliver value for the company\u2019s customers, consistently and over time.<\/em>\u201d<\/p>\n About V.<\/em> About STAR<\/em> V.Group (\u201cV.\u201d), the global provider of mission critical services to the maritime industry, is pleased […]<\/p>\n","protected":false},"author":23,"featured_media":241777,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[273,298],"tags":[307],"class_list":["post-241770","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-maritimes-news","category-seagoing-maritimes-news","tag-featured-en"],"yoast_head":"\n
\nWith over 40 years of experience in shipping, V. is the leading, trusted, global provider of mission critical services to the maritime industry. V. serves approximately 3,500 vessels from pedigree shipowners and managers alike, with safety and compliance at the heart of V.\u2019s operating model. The company offers a comprehensive suite of services, including 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.<\/em><\/p>\n
\nSTAR is a European investment fund manager focused on investing in and developing businesses that benefit from a strategic market position and provide an essential service to their customer base. Since inception, STAR has built over 28 businesses with a total enterprise value in excess of \u20ac10 billion through more than 100 acquisitions. STAR has a track record in value generation and driving growth, typically investing in companies with enterprise values of between \u20ac50m and \u20ac1 billion. \u00a0STAR has previously invested successfully in the shipping sector, including maritime engineering group, Blohm+Voss and global container shipping industry, MPC Container Ships.\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"