Canadian pension fund, OMERS Private Equity, has agreed to aquire V.Group, parent company of V.Ships, the world’s largest supplier of independent ship management and other marine services, including offshore services. As part of the agreement OMERS is replacing Exponent Private Equity as V.Group’s financial partner.
V.Group CEO, Clive Richardson, who will continue to lead the management team, commented “V.Group has a tremendous future and the management team is excited in working with our new partners in the next chapter of growth in our business.”
Financing for the transaction with an enterprise value of US$520m was provided by RBC Capital Markets. V.Group was advised by Lazard, with further transaction support provided by Allen & Overy, PricewaterhouseCoopers, Deloitte and BCG. Kinmont and Travers Smith advised V.Group’s management.
V.Ships manages a fleet of over 1,000 vessels, including tankers, dry bulk carriers, gas and chemical carriers, containerships, cruise ships and offshore vessels.