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VPS

Employees
260+
Testing Facilities
5
Status
Realised
Country
Netherlands
Norway
Strategy
Mid Cap
Sector
Business Services
Entry
Oct-13
Exit
Jul-21
Fund
IK VII
Website

Global leader in maritime fuel testing and inspection

VPS is a leading global provider of testing and inspection services, helping marine and power customers with engine optimisation, regulatory and environmental, social and governance compliance as well as asset protection through cost-efficient solutions.

The company operates within four segments: testing and advisory services, inspection services, oil condition monitoring services and data services. VPS operates five key testing laboratories strategically located in Rotterdam, Singapore, Houston, Fujairah and Manchester and has access to 150 key ports worldwide for bunker quantity surveys. Known and respected throughout the maritime industry, it has a commanding market share in its niche and operates in an expanding industry with an attractive and scalable business model.

VPS is headquartered in Rotterdam, Netherlands.

VPS was acquired by IK Partners as a carve out from Norwegian company Det Norske Veritas (DNV) Group in October 2013. In July 2021, the Company was sold to Fremman Capital.

What Attracted us to the Business

  • Global leadership position
  • Long-standing customer base
  • Scalable Testing Inspection and Certification business model

Our Value Creation Strategy

We worked alongside management to:

  • Separate VPS from DNV and realise associated cost savings;
  • Increase lab efficiency and optimise cost structure;
  • Optimise transportation time or costs; and
  • Pursue add-on acquisitions in a fragmented market.

Investment Team

Frederik Jacobs

Director
Amsterdam