Shipmanagement giant V.Group continues its growth by acquisition strategy, signing a deal with Germany’s Norddeutsche Vermögen Group to acquire Norddeutsche Reederei H. Schuldt.
V.Group hailed the transaction as a major step forward in delivering consolidation of commercial and technical management in the container segment in Germany.
Based in Hamburg, Norddeutsche Reederei manages a fleet of 46 container vessels and will continue to do so from its existing offices, with the addition of V.Group’s existing Hamburg-based technical management team. Further investment is planned to create a container vessel management hub for the group.
Norddeutsche Vermögen Group will transfer its fleet of 35 owned vessels to a new standalone structure, which will see the existing manager work with V.Group and Hamburg broker Blue Net Chartering to manage the vessels both commercially and technically.
Ian El-Mokadem, CEO of V.Group, commented: “The acquisition of Norddeutsche Reederei allows V.Group to strengthen its position as the global leader in marine support services. Norddeutsche Reederei’s highly experienced team will significantly enhance V.Group’s expertise in the management of container vessels to the highest quality level. With the addition of the capabilities of Norddeutsche Reederei, V.Group will strive to continue setting new standards and be a driving force in transforming the industry.”