London-based V.Group, a marine and offshore vessel management and support services provider, has acquired Graig Ship Management, part of Graig Shipping, in an effort “to strengthen dry bulk capability in China and Western Europe.”
As informed, Graig Ship Management will continue to operate independently within the V.Group portfolio.
V.Group expects to enhance its growing ship management capability in Asia as well as benefit from Graig Ship Management’s strong relationships with western owners, banks and institutional investors.
Additionally, Graig Shipping will now focus on core activities including developing, financing, and executing shipping investment opportunities and structures independently and through collaboration.
Through this transaction, V.Group and Graig Shipping intend to form “a close, complementary partnership” to provide an integrated service covering investment, ownership, ship management, and supervision.
“As the industry continues to develop, scale will be critical to underpin ever more efficient service delivery … 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,” Hanne Sorensen, V.Group Interim CEO, said.
“Operating within the V.Group portfolio, we will be supported by the global footprint, the scale and investment needed to continue to provide an enhanced service … while retaining our core values. Graig Ship Management’s fleets already benefit from V.Group’s … vessel management system, Shipsure, and there is good alignment on values and culture between the two companies, which will ensure continuity of service for our existing and new clients. The transaction also offers significant long term potential for Graig Shipping PLC to cooperate in a mutually beneficial partnership under the new ownership and strategy being formulated at V.Group and Advent International,” Hugh Williams, Chief Executive of Graig Shipping, added.