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V.Group sold to Advent International

V.Group sold to Advent International
V.Group, owner of the world’s largest ship manager V.Ships, has been sold to Advent International.

OMERS Private Equity (OPE) has sold a majority stake in V.Group to another private equity investor Advent International. V.Group said that OPE would re-invest in the company working with Advent International, and that’s senior management would retain a minority stake in the company. No financial details of the deal were disclosed.

V.Group said that following the sale it would remain focused on geographical expansion and growth both organically and via acquisitions.

“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,” said Clive Richardson ceo of V.Group.

“V.Group has a unique offering in marine services, and as ship owners and operators increasingly consider strategic options for the management of their fleets, we are committed to delivering performance excellence alongside lower costs. We look forward to working with Advent to make this possible.”

James Brocklebank, a managing partner at Advent International said: “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.” 

V.Group owns the world’s largest ship manager V.Ships, which manages over 1,000 vessels.

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