Advent International to Buy Majority Stake in V.Group

V.Group US-based private equity firm Advent International has agreed to acquire a majority ownership interest in maritime services provider V.Group from 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 and V.Group’s management team will retain a minority stake in the company, Advent said. The value of the transaction was not disclosed. “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, Clive Richardson, CEO of V.Group, said. V.Group, which specializes in the technical management of maritime assets outsourced by ship owners, manages over 1,000 vessels across the commercial shipping, cruise, energy and defense sectors. Last month, V.Group acquired Mumbai-based maritime services provider Selandia Holdings and its subsidiaries, comprising the Selandia Ship Management Group, as part of its plans to expand to Asia. Advent said that, following its investment, V.Groups growth strategy will remain focused on further geographical expansion and deepening its range of services organically and through complementary acquisitions.