DG Risk Group expands with acquisition
DG Risk Group has acquired armed maritime security company Protection Vessels International (PVI), along with its trading division Halcyon Yacht Security, growing its operational and commercial capability.
PVI, a UK-based global maritime security company, specialises in armed maritime security solutions for commercial and governmental agencies. Most recently PVI, in unison with DG Risk Group, supported and partnered with various navies in the Gulf of Guinea in support of two major offshore projects including a high-profile cable laying project. This involved working closely with six different jurisdictions each providing independent military support to the project.
PVI has also recently expanded its Indian Ocean operations by adding PVI India and PVI Mozambique to its list of locally run subsidiaries. The acquisition by DG Risk Group will further enable PVI to expand its maritime security services across the seas of West Africa, drawing on the experience of over 10,000 Indian Ocean transits. It will retain its long-established 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 high quality, physical security solutions, training and technical consultancy primarily to superyacht crews, owners and management companies.
DG Risk Group says it is working closely 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 Q1. The delivery of the vessels will be complemented by training and management to ensure that crew are confident and skilled to operate the vessels and that the patrol boats are properly-maintained for reliability and longevity.
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. DG Risk Group’s 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,” says DG Risk Group CEO, John Justice.
“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. 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 recognised West African-led maritime industry.”
