V.Group embarks on new chapter of growth as consortium led by STAR Capital assumes ownership

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V.Group (V.), global provider of mission critical services to the maritime industry, is pleased to announce that a consortium led by STAR Capital (STAR) including Ackermans & van Haaren (Euronext: ACKB) and others 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.

V. says this transaction is an endorsement of its client-focused strategy and ambition to be the Committed Partner of Progress for Everything at Sea. STAR and the Consortium will provide it 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.’s steadfast commitments to clients, seafarers, and the responsible stewardship of the seas.

Rene Kofod-Olsen, CEO of V. said: “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 across our shipping and services platform to the benefit of our customers, employees and the industry.”

Graham Westgarth, Chair of V. said: “I 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’s partner of choice. I am looking forward to the company’s continued success.”

Aditya Bindal, Partner of STAR said: “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. 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’s customers, consistently and over time.”

V. 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.

The 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.

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