Exponent supports MBO
Article Date: Mar 20 2007V.Holdings, which works for the marine and energy sectors, has undergone a management buy-out backed by Exponent Private Equity. The company now aims to grow organically and make acquisitions.
Close Brothers Private Equity, which held a 50 per cent interest in V.Holdings, has kept a minority stake in the company. The deal’s funding was underwritten by HSBC.
V.Holdings owns three divisions, V.Ships, V.People and V.Investments, through which it manages more than 900 cargo and leisure ships with $12 billion (£6.1 billion) under management. It also specialises in areas such as recruitment, financing, ship broking and outsourcing for the energy industry.
The company, which is based on the Isle of Man and has 70 offices worldwide, made group revenue of $196.6 million in 2006, a 42 per cent increase compared with 2005.
NM Rothschild and Norton Rose advised V.Holdings, while Lazard and Allen & Overy acted for Exponent. Kinmont, Moore Stephens and Travers Smith acted for the management team.
