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STAR and AvH Acquire V.Group, the World's Biggest Ship Management Firm

Bulker
iStock / SHansche

Published Jun 16, 2024 10:07 PM by The Maritime Executive

 

A consortium led by UK investment company STAR Capital has purchased V.Group, the shipmanagement conglomerate headquartered in London. The new ownership group includes Dutch holding company Ackermans & van Haaren (AvH), the majority owner of dredging giant DEME.

The consortium has acquired V.Group from  U.S.-based private equity company Advent International, which has owned V.Group since 2016. The deal is still subject to regulatory review and should be completed by this fall. The terms of the agreement were not disclosed.  

“I 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," said Rene Kofod-Olsen, CEO of V. in a statement.

V.Group is the largest third-party shipmanagement company. It provides a full range of shipping services, including technical management, crewing, catering, agency services and marine insurance. Its clients can access a network of 60 offices across 30 countries around the world. 

“V. is an excellent fit for STAR’s 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," said Aditya Bindal, Partner at STAR. 

V.Group had 3,500 vessels under management as of last year, and it has been growing. In 2023 it acquired the shipmanagement arm of Belships, taking in an additional 30 bulkers.