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.
Source:Ship Technology
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