DG Risk Group Acquires Protection Vessels International
DG Risk Group announced Monday it has acquired armed maritime security company Protection Vessels International, along with its trading division Halcyon Yacht Security. The acquisition was completed in 2020.
UK-based Protection Vessels International (PVI) specializes in armed maritime security solutions for commercial and governmental agencies. Most recently PVI, in unison with DG Risk Group, supported and partnered with several navies in the Gulf of Guinea in support of two major offshore projects including a high-profile cable laying project.
PVI has also recently expanded its Indian Ocean operations by adding PVI India and PVI Mozambique to its list of locally run subsidiaries. DG Risk Group said the acquisition will enable PVI to further grow its maritime security services across the seas of West Africa, drawing on the experience of more than 10,000 Indian Ocean transits. PVI will retain its brand name.
Halcyon Yacht Security is the superyacht security division of PVI Ltd and will also become part of the DG Risk Group. Halcyon’s focus is delivering physical security solutions, training and technical consultancy primarily to superyacht crews, owners and management companies.
Founded in 2014 by John Justice, former Royal Marine and entrepreneur DG Risk Group has grown to operate four international offices across the U.K., U.S., Singapore, East and West Africa. The firm said it is working with regional navies to develop strategies to tackle the rising incidents of maritime crime off the West African coast. In late 2020, DG Risk Group supplied two Bastion fast patrol vessels to the region, and a further three will be delivered before the end of the first quarter. The delivery of the vessels will be complemented by indigenous training and management to ensure that crew are able to operate the vessels and that the patrol boats are maintained.
Providing home-grown solutions to support the fight against piracy and armed robbery at sea is central to DG Risk Group’s long-term strategy. The group has established a number of partnering initiatives with in-country businesses such as in Nigeria, Togo and Equatorial Guinea to facilitate knowledge-share of maritime security best practice. The firm said its approach is designed to empower indigenous players to lead West Africa’s maritime security industry; arguably the most important step to reaffirming maritime security provision in the region.
"DG Risk Group has a history of investing during tough economic times to ensure we thrive on the other side. We have also made the bold decision to expand now to ensure that we are able to support regional players in West Africa and throughout the world who are struggling to curtail the uptick in incidents of maritime crime," Justice said. "Together with PVI, we can better support state navies in the region to develop their capability and ensure a safer environment to facilitate the development of an internationally recognized West African-led maritime industry."
“PVI’s in-country team of experts bring a wealth of practical maritime security expertise to DG Risk Group’s consultancy services alongside an unrivalled track record of safe passages from a decade operating in the Indian Ocean."
James Hilton, CEO Protection Vessels International, said, "This is a significant landmark in our company’s history, and we’re excited to be joining the DG Risk Group. Being part of the group, will significantly benefit our clients and expand our maritime security service offering across the West Africa region and around the world."
"During a time of unprecedented global economic and political change, we’re confident that this acquisition will empower our experienced, well-connected and equipped teams to deliver unrivalled security provision in the piracy hotspots that need it most. The path ahead in 2021 is a positive one."