V.Group acquires Graig Ship Management

Graig Ship Management is expected to continue operating independently within the V.Group portfolio, according to a statement from the company, which is based in London despite being majority owned by American investment company Advent Intl.    London-based ship management company V.Group, in an effort to strengthen its dry bulk capability in China and Western Europe, has acquired Graig Ship Management from Cardiff, England-based management and services group Graig Shipping PLC, the company said in a statement.
   According to the company, Graig Ship Management is expected to continue operating independently within the V.Group portfolio. The acquisition, V.Group also said, enhances the company’s ship management capability in Asia, and allows it to benefit from Graig Ship Management’s ties with Western owners, banks and institutional investors.
   “Through this transaction, V.Group and Graig Shipping PLC will form a close, complementary partnership to provide an integrated service covering investment, ownership, ship management, and supervision,” the companies explained in a joint statement.
   V.Group’s interim CEO, Hanne Sorensen, said that 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,” Sorensen said.
   Graig Shipping PLC Chief Executive Hugh Williams called the sale an “outstanding opportunity” for Graig Ship Management to continue to grow within V.Group’s portfolio, where it would be “supported by the global footprint, the scale and investment needed to continue to provide an enhanced service to our customers.”
   “There is good alignment on values and culture between the two companies, which will ensure continuity of service for our existing and new clients,” Williams said.
   Since December 2016, V.Group has been majority owned by American investment company Advent Intl.