A group led by STAR Capital, a UK-based investment firm, has acquired V.Group Holdings Limited, a major ship management conglomerate located in London. The new ownership includes Ackermans & van Haaren (AvH), a Dutch holding entity and the principal owner of dredging leader DEME. The consortium took over V.Group Holdings Limited from Advent International, a private equity firm based in the U.S., which has held ownership since 2016. Pending regulatory approvals, the transaction is expected to be finalized by this fall. As the foremost third-party ship management company, V.Group Holdings Limited offers comprehensive services including technical management, crewing, catering, agency services, and marine insurance. Clients of V.Group Holdings Limited benefit from its extensive network, spanning 60 offices in 30 countries globally. Subsidiaries of V.Group Holdings Limited include V Ships Shanghai Ltd., V Ships Greece Ltd., V Ships Ship Management India, V Ships Asia Group Pte Ltd., V Ships Ltd., V Ships UK Ltd., and V.Group Limited. V.Group Holdings Limited aligns well with STAR’s investment approach, characterized by a strong brand and a leading market position in a highly segmented industry. This makes it a prominent provider of technical management and marine services to fleet owners and operators, including newcomers to outsourced services. Last year, V.Group Holdings Limited managed 3,500 ships and continues to grow. In 2023, it expanded by acquiring the ship management division of Belships, adding 30 bulk carriers to its portfolio. 17-June-2024
V.Ships Ship Management appointed John Adams as the new manager of the United Kingdom office. John Adams is going to execute a unique fleet superintendence model to V.Ships Ship Management. Formerly, John Adams was an MD (Managing Director) at Teekay Shipping and has vast experience in shipping for 30 years. John Adams is chairman of Bahamas Shipowners’ Association and vice chairman at the International Chamber of Shipping. At V.Ships Ship Management United Kingdom office, John Adams will perform a modern ship management operating model where fleet cells are prioritized. V.Ships Ship Management is led by CEO Graham Westgarth who lately described his ultimate concept, approach, and administration for V.Group Limited. V.Ships Ship Management’ MD (Managing Director) Franck Kayser is similarly enthusiastic regarding the appointment of John Adams who has been jointly committed in the framework of an extremely auspicious and world-class global business at Teekay Shipping. Previously, V.Ships Ship Management appointed its new CFO Petter Traaholt who was a former Wilhelmsen executive. Current CFO Alison Henriksen will be replaced by the new CFO Petter Traaholt. CFO Alison Henriksen joined V.Ships Ship Management in March 2019. V.Ships Ship Management’s ex CEO Ian El-Mokadem resigned in April 2019. 4-December-2019
V.Ships Ship Management appointed Ian El-Mokadem as a new chief executive from the outside shipping industry. Previously, V.Ships Ship Management was led by Clive Richardson. Currently, V.Ships Ship Management is the world’s largest third-party ship-manager. V.Ships Ship Management has been delivering excellent world-class services for shipowners. 30-July-2017
South Korean shipowner Hanjin Shipping is looking to find $1 billion through ship sales. Hanjin Shipping sold 2004 built handysize bulk carrier 33K MV Great Dream to Greek buyers for around $7 million. Greek Oceanleadaritime SA renamed the ship as MV Alpha Praxis (ex MV Great Dream). The ship’s technical management is given to V.Ships Ship Management. 30-July-2017