European Consortium Acquires Maritime Service Provider V.Group

V.Group, a leading ship management and maritime service provider, has been bought by a consortium led by European investment fund manager STAR Capital. Other consortium members include Belgium-based Ackermans & van Haaren and several other undisclosed parties.

The deal, which is still subject to regulatory approval, is expected to conclude in the early Fall 2024. The financial details of the transaction have been kept confidential.

In business for over 40 years, V.Group is a leading provider of essential services to approximately 3,500 vessels. The company’s broad range of services includes technical ship management, crew management, catering, travel, digital wallets & payment cards, leveraged procurement, technical services, specialist insurance broking, and shipping-specific digital solutions.

The acquisition has been hailed as a testament to V.Group’s client-centered strategy and its aspiration to be a steadfast partner for all maritime needs. STAR Capital and the consortium aim to provide a secure financial foundation, allowing V.Group to pursue further growth and strategic development.

“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,” said René Kofod-Olsen, CEO of V.

STAR’s Partner, Aditya Bindal, praised V.Group for its strong brand and leading position in a fragmented market. “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,” he said.

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