STAR Capital-led consortium to acquire V.Group

The transaction is subject to regulatory consents and is expected to be completed in early autumn. 

Financial terms have not been disclosed.

Long-term investors

‘I am truly excited to welcome such well-respected, long-term investors with deep shipping sector experience to assume the ownership of V.,’ said V. Group CEO Rene Kofod-Olsen. ‘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.’  

V. Ships Leisure and Global Marine Travel – which was acquired by V.Group in 2019 – serve the cruise sector.  

Graham Westgarth, chair of V. Group, said, ‘I would like to congratulate the V. team on their new ownership with STAR and its consortium and continuing the tremendously positive developments of recent years, in establishing V. as the shipping industry’s partner of choice. I am looking forward to the company’s continued success.’ 

A fragmented market

Aditya Bindal, partner of STAR, described V. as ‘an excellent fit for STAR’s investment strategy with its strong brand and leading position in a highly fragmented market, making it a natural leader in providing technical management and marine services to fleet owners and operators, including those turning to outsourced services for the first time.’ 

Bindal added, ‘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.’