Collaboration continues despite V.Group acquisition
Following the news, Roberto Giorgi reflects on Fraser Yachts' successful alliance with V.Group thus far.…
Advent International has announced its agreement to acquire a majority ownership interest in V.Group, a leading marine and offshore vessel management and services provider, from OMERS Private Equity (OPE).
OPE will reinvest in V.Group, working with Advent and the management team to support the continued growth of the business. V.Group’s management team will retain a minority stake in the company.
V.Group is better known in the superyacht industry for VF Yachts – the collaboration between Fraser Yachts and V.Delta, part of V.Group, to provide project management services to the superyacht industry.
Initiated by Roberto Giorgi, Executive Chairman of Fraser Yachts and Honorary Chairman of V.Group, the collaboration had potential due to V.Delta’s project management experience with new builds, refits, feasibility studies for conversions and safety operations management in the luxury cruise industry.
Speaking exclusively to SuperyachtNews, Giorgi confirms that the acquisition will not have any impact on the collaboration, and the alliance will continue on the same track with no real change.
“The collaboration has been very successful so far as V.Group mirrors Fraser’s approach to management, but has introduced more discipline in terms of training, safety and environmental operations in line with the luxury cruise sector,” Giorgi reflects.
“The luxury cruise industry is a very interesting industry for the superyacht industry to learn from, and the company has learned a lot from a managerial perspective. This has helped Fraser to increasingly penetrate the large yacht market, bringing in bigger yachts as clients as a result.”
V.Group confirmed seperately to SuperyachtNews that, at present, the company is focused on business as usual and establishing its partnership with Advent International.
Image: Fraser Yachts and V.Delta launch VF Yachts in April 2015
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