V.Group has acquired Global Marine Travel (GMT) from Inchcape Shipping Services according to a V.Group press release. The acquisition will increase the scale of V.Group’s operations to offer global 24/7 travel services.
V.Group, based in London, provides global marine support services. It has 44,000 seafarers and 3,000 onshore employees in 30 countries. GMT, based in Fort Lauderdale, Florida, is a travel management company that provides commercial offshore support in a variety of fields including aircraft charter, cruise ships, freight shipping, humanitarian efforts, oil drilling and yachting. Inchcape is a marine port services firm with 3,000 employees in 68 countries.
According to the release, the acquisition will double ticketing volumes for V.Group, strengthen the management team, and create a combined operational hub in the Philippines. The combined resources of both companies will create a platform for simplifying maritime voyages. The platform will complement V.Group’s “Project Embark,” which invests in digital technologies that enhance maritime services.
V.Group will also sell its V.Ships Agency business to Inchcape and establish a lasting partnership with Inchcape. V.Group will use the acquisition to operate under the GMT brand.
“GMT complements V.Travel 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,” said Tim Davey, managing director of combined marine travel operations at V.Group. “The extra talent and technical capacity will be instrumental in transforming the seafarer journey. GMT customers will continue to benefit from the excellent global standards they have come to expect, but with the addition of more resources and capacity to deliver.”
“GMT is a travel business with a global reputation for excellence, and we believe it is in good hands with V.Group,” said Frank Olsen, chief executive officer at Inchcape. “As we acquire the V.Ships Agency business, we look forward to enhancing the services we provide for agency and travel customers alike. I believe this partnership sets a new standard of collaboration within the marine support services market, aimed at continual service improvement and scale efficiencies.”