UK-headquartered ship management giant V.Group has not lost any hunger for acquisitions under its new ownership, sealing a deal with Graig Shipping to buy Graig Ship Management.
Graig Ship Management will continue to operate independently as part of the V.Group portfolio, and manages a fleet of 17 vessels made up of 15 bulkers and two containerships according to its website. V.Group says the acquisition will enhance its ship management capability in Asia.
Hanne Sorensen, interim CEO of V.Group, commented: “Graig Ship Management has developed a leading reputation in Asia and Europe for offering both cost effective and high quality solutions to its customers. As the industry continues to develop, scale will be critical to underpin ever more efficient service delivery for customers and to enable the technology investments required to drive a step change in outcomes for our customers. By joining V.Group’s portfolio of ship management businesses, Graig Ship Management will be able to build upon its core service offering while drawing on the scale resources of the wider V.Group. For V.Group, this acquisition represents an opportunity to strengthen our marine services offerings to clients within Asia and the West, with a particular focus on dry bulk.”
The acquisition will leave Graig Shipping to focus on core activity of ship owning and innovative ship finance, while also forming a partnership with V.Group to provide an integrated service covering investment, ownership, ship management, and supervision.
V.Group was taken over by private equity firm Advent International in March, and Ian El-Mokadem (pictured) is set to join as the group’s new chief executive officer next quarter.