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Another big transaction in the global ship[ds_preview] management market: US-based Advent International will take over a majority stake in market leader V.Group. The focus remains on further expansion.

Advent today announced that it has agreed to acquire a majority ownership interest from another PE company, Omers Private Equity (OPE). »OPE will reinvest in V.Group, working with Advent and the management team to support the continued growth and development of the business«, it was said. The value of the transaction was not disclosed.

According to the statement, V.Group’s management team will retain a minority stake in the company. V.Group manages over 1,000 vessels on behalf of its customers across the commercial shipping, cruise, energy and defence sectors. Just a couple of weeks ago the market leader strengthened its position by acquiring Selandia Ship Management from India.

Focused on further expansion

This might not be the end of the road for the ship manager. »Following Advent’s investment, V.Group’s growth strategy will remain focused on further geographical expansion and deepening its range of services organically and through complementary acquisitions«, Advent added. Advent plans also support the management team in making significant investments in technology, systems and operations to continue to deliver world-class solutions for its clients.

Clive-Richardson
Clive Richardson, CEO V. Group

Clive Richardson, CEO of V.Group, said, »We have enjoyed great support and solid growth under OPE’s ownership, and our company has continued to strengthen its position in the market through our recent acquisitions of Bibby Ship Management and Selandia Holdings. We look forward to working with Advent.«

The market is in motion for several months already. Further M&A transactions may be seen, as the planned merger of Marlow Navigation and Columbia Shipmanagement.

Founded in 1984, Advent International describes itself as »one of the largest global private equity firms«. The company has offices on four continents. Since initiating the private equity strategy in 1989, 31 bill. $ in over 315 transactions across 40 countries haven been invested.

James Brocklebank, a Managing Partner at Advent International, added, »V.Group has a proven track record of delivering value for its customers alongside consistent growth, and we believe that Advent is well-placed to help the business build on this success. Advent’s global presence, sector specialisation and focus on business transformation make us an ideal partner for V.Group in the next phase, and we look forward to supporting its continued expansion and development.«