V.Group acquires GMTFeb 18, 2019 by Triton Staff
Global marine services provider V.Group has acquired Fort Lauderdale-based Global Marine Travel from Inchcape Shipping Services.
GMT adds to V.Group two International Air Transport Association licenses, is expected to double ticketing volume and will enable an operational hub in the Philippines. Both businesses will eventually operate under the GMT brand, with GMT founder Tim Davey as managing director of the combined Marine Travel operations at V.Group.
“V.Group believes that there is genuine advantage to scale in the maritime services business,” stated Elliot Gow, managing director of Marine Services at V.Group. “This partnership gives us unrivalled capacity, greater purchasing power, and better service capabilities within the travel market, and will help us deliver the right solutions, at the right prices, for our customers.”
In a reciprocal agreement, V.Group is divesting its V.Ships Agency business to Inchcape, establishing a partnership between the world’s largest ship manager and a port agent – “a win-win for both of our companies,” Gow stated.