Global marine services provider VGroup has acquired Inchcape Shipping Services’ Global Marine Travel (ISS GMT) arm, for an undisclosed sum.
Combining VGroup’s management service VTravel with GMT’s marine travel expertise, the acquisition increases their ability to offer global operations that focus on delivering customer satisfaction.
The addition of GMT to VGroup’s travel portfolio doubles ticketing volumes and will see the creation of a combined operational hub in the Philippines.
The acquisition bolsters existing travel operations with two additional International Air Transport Association licences.
Both businesses are set to operate under the GMT brand.
VGroup Marine Services group managing director Elliot Gow said: “VGroup believes that there is a genuine advantage to scale in the maritime services business, as it allows us to invest in great systems and great people.
“This partnership gives us unrivalled capacity, greater purchasing power, and better service capabilities within the travel market, and will help us deliver the right solutions, at the right prices, for our customers.”
In line with VGroup’s focus on developing six key services lines, the acquisition signifies its commitment in the travel segment.
The combined resources of VGroup, VTravel and GMT will create a platform for managing and simplifying the seafarer journey.
VGroup combined Marine Travel operations managing director Tim Davey said: “GMT complements VTravel perfectly, adding to our pool of deep expertise in the maritime travel sector, and increasing the scope of what we can deliver on a global scale, 24 hours a day.”
The company will also sell its VShips Agency business to Inchcape, entering a service agreement that establishes a partnership to provide a better ship agency platform.