STAR group takes control of V.Group for $150m 

AvH said it was impressed by the marine support service provider.

Patrick Rhys Atack June 17 2024

Construction engineering group Ackermans & van Haaren (AvH) has partnered with STAR Capital to acquire V.Group.

The Belgian group will take 33% of V.Group, a ship management and marine support service provider, from Advent International in exchange for $150m. 

STAR did not disclose its agreement with Advent for the remainder of the transaction.

AvH has a substantial portfolio of companies, across a multitude of sectors, but marine engineering and construction is a key area of its business. 

“The investment fits well with our criteria to invest in global market leaders with long-term growth potential, operating in markets with clear entry barriers (driven by the importance of scale and global reach) and led by strong management teams,” said Piet Dejonghe, co-CEO of AvH. 

V.Group has a presence in 30 countries, with nearly 3,000 employees worldwide, and has a crew network of 44,000 seafarers to provide crews for its clients. It manages 900 vessels, and is currently contracted to provide services to 2,500 ships. 

AvH commented that its new acquisition was “well positioned to benefit from the global and structural trend of increased outsourcing of technical services and crew management within the shipping industry.” 

Although the transaction is subject to regulatory approval, it is expected to complete in the latter half of 2024. 

“We are impressed by V.Group’s long term relationships with its customers, its strong safety record as well as the differentiating offering of ESG-related services. V.Group will represent a valuable addition to the AvH Growth Capital portfolio,” Dejonghe added. 

Uncover your next opportunity with expert reports

Steer your business strategy with key data and insights from our latest market research reports and company profiles. Not ready to buy? Start small by downloading a sample report first.

Newsletters by sectors

close

Sign up to the newsletter: In Brief

Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Thank you for subscribing

View all newsletters from across the GlobalData Media network.

close