mynth
09/2024100%

V.Group acquired by Star Capital / Ackermans & Van Haaren AVH

UNITED KINGDOM Transport & Logistics / Freight Transport / Marine Cargo EV $500M–1.5bn

Context

The European investment fund manager STAR Capital, acting alongside Ackermans & van Haaren, signs a definitive stake acquisition to take absolute majority control of V.Group from the exiting financial sponsor Advent International. Following the successful completion of all regulatory consents, this definitive leveraged buyout concludes a competitive process initially announced in June 2024, formally transferring majority control of the maritime services platform during the early autumn of 2024. The financial architecture orchestrating this cross-border transfer of ownership requires substantial capital commitments from the incoming institutional partners, notably including a dedicated one hundred and fifty million dollar equity investment provided by Ackermans & van Haaren to secure a precisely calibrated 33.3 percent ownership stake in the new consolidated holding structure. For the exiting financial sponsor, this outright divestiture successfully concludes an extensive eight-year investment cycle that commenced in 2016, when Advent International originally acquired its majority position from Omers Private Equity. Strategically, the incoming European fund manager intends to deploy capital from its dedicated STAR IV Fund (representing the vehicle's fourth major platform investment) to establish a strong financial foundation capable of accelerating the target's existing client-focused growth trajectory. By aligning deep shipping sector experience with long-term investment horizons, the acquiring partners aim to vigorously consolidate the highly fragmented technical management and marine services market. This institutional backing directly empowers the maritime operator to further enhance its steadfast commitments to shipowners and seafarers, while actively supporting the ongoing strategic development of its comprehensive digital and operational services platform. Co-CEO of Ackermans & van Haaren, Piet Dejonghe, alongside STAR Partner Aditya Bindal, emphasizes that this external growth maneuver perfectly complements their respective portfolios by internalizing a dominant brand with a proven safety record. Consequently, this secondary buyout seamlessly transitions the company away from its previous private equity ownership, fully equipping the executive leadership to aggressively pursue supplementary maritime outsourcing contracts globally.

V.Group, which reported an EBITDA margin of [members only] in 2025, is valued in this transaction at an EV/EBITDA multiple of 5x–12x, standing directly in line with the average observed in the Business Services sector (10.4x in 2024).

-> Deep-dive in Business Services market trends

Target

Global provider of mission-critical services to the maritime industry, V.Group coordinates comprehensive ship management solutions from its international headquarters in London, United Kingdom. Leveraging more than four decades of experience, the enterprise maintains a geographical footprint comprising fifty dedicated offices distributed across thirty countries. The core business model focuses on delivering specialized technical and crew management frameworks, directly serving a massive fleet of approximately 3,500 vessels for demanding shipowners. To sustain these extensive operations, the company relies on an internal corporate workforce of roughly 2,900 employees, while orchestrating access to a maritime network of over 44,000 professional seafarers. The organizational portfolio integrates a wide array of essential marine services, ranging from complex technical ship management and leveraged procurement programs to specialist insurance broking and digital shipping platforms. Furthermore, the operational suite encompasses dedicated crew welfare solutions, systematically managing catering, global travel logistics, and integrated digital wallets for deployed personnel. Led by Chief Executive Officer René Kofod-Olsen, the maritime specialist ensures strict compliance and safety standards remain at the center of its daily operating model.

Ent. Value

$500M–1.5bn

Equity Value

[members only]

Multiples

EV / Revenue

below 1.5x

EV / EBITDA

5x–12x

EV / EBIT

[members only]

Historical Financials (USD)

Year
Rev
EBITDA
EBIT
2025
$450–900M
$50–100M
[members only]
2024
$450–900M
$50–100M
[members only]

Other operations with Star Capital / Ackermans & Van Haaren AVH

Other operations with Star Capital / Ackermans & Van Haaren AVH
DateAcquirerTargetCountrySector
06/2026STAR CAPITALGLENHOLME SPECIALIST CAREUNITED KINGDOMNursing Homes
02/2025STAR CAPITALGENAIR UKUNITED KINGDOMEquipment Rental
02/2023STAR CAPITALMYFLEXBOXAUSTRIALogistics

Similar deals in Transport & Logistics

Similar deals in Transport & Logistics
DateAcquirerTargetCountrySector
10/2024GROUPE TOP CHRONOKLEDYSFRANCEFreight Transport
10/2024FRANCE EUROPE TRANSPORTS RAPIDES (FETR)DUCAMINFRANCERoad Freight
09/2024DSVSCHENKERGERMANYFreight Forwarding
06/2024AMDG PELA COMPAGNIE DU GOLFE ET DE LA NAVIGATIONFRANCEMarine Passenger
04/2024STELLANTIS2L LOGISTICSFRANCERoad Freight
04/2024GROUPE SIFAHESNAULTFRANCEFreight Forwarding
04/2024INFRANITYTRANSARCFRANCEBus & Coach
02/2024GXOWINCANTONUNITED KINGDOMWarehousing / 3PL
02/2024GRIMALDI GROUPTERMINAL DARSENA TOSCANA (TDT)ITALYInfrastructure & Ground Services
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REFERENCES

Valuation range: EV $500M–1.5bn

Revenue range: $450–900M

EBITDA range: $50–100M

EV/Revenue range: below 1.5x

EV/EBITDA range: 5x - 12x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of V.Group by Star Capital / Ackermans & Van Haaren AVH are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: v.group

Acquirer: ackermans & van haaren avh / star capital

FAQ

What transaction does this page cover?

This page covers the acquisition of 100% of V.Group, a British company specialised in Freight Transport, by Star Capital and Ackermans & Van Haaren AVH in 2024.

How was the acquisition of V.Group by Star Capital valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the $500M–1.5bn band, its EV/EBITDA multiple within the 5x - 12x range, and its EV/revenue multiple within the below 1.5x range. Exact figures are available to members.

What were V.Group’s revenue and EBITDA at the time of the deal?

At the time of the transaction, V.Group generated annual revenue estimated in the $450–900M range and EBITDA in the $50–100M bracket (FY 2025). Detailed financial figures are available to members.

How does the valuation of V.Group compare to benchmarks in the Business Services sector?

With an estimated multiple range of 5x - 12x, the transaction stands directly in line with historical averages for the Business Services sector (10.4x in 2024).

What sources support the information on this transaction?

Data on this transaction was compiled from the official corporate announcement published by the parties, combined with independent reporting from specialized financial and M&A publications.

What is mynth?

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