V.Group purchases Graig Ship Management to improve dry bulk capability
Global offshore vessel management company V.Group has acquired Graig Ship Management with the aim of boosting its dry bulk vessel management capability in China and Western Europe.
Graig Ship Management is part of Graig Shipping and primarily specialises in newbuild supervision and ship management of dry bulk vessels.
The company will continue to operate independently within the V.Group portfolio under the deal, and will benefit from V.Group’s global presence and broad service offering.
V.Group will also be able to improve its ship management capability in Asia.
Additionally, the company will benefit from Graig Ship Management’s current collaboration projects with various Western owners, banks and institutional investors seeking highest quality, boutique and risk managed services.
The sale is also expected to help Graig Shipping focus on its core activities, including developing, financing, and executing innovative shipping investment opportunities and structures.
V.Group interim CEO Hanne Sorensen said: “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.”
Advent International previously announced its intention to buy majority ownership stake in V.Group from OMERS Private Equity in December.
Image: Graig Ship Management and V.Group executives. Photo: courtesy of V.Group.