Portfolio Companies

Our Portfolio

Building Value Through Active Ownership 

Custos Maritime & Defence has built a diversified portfolio of maritime and defence assets across North America, Europe, and international markets. Our portfolio companies occupy critical positions within maritime infrastructure, providing essential services with strong customer relationships, recurring revenue streams, and significant barriers to entry. 

We create value through hands-on operational partnership, strategic investments, and professional management. Our track record demonstrates consistent revenue growth, margin improvement, and market position strengthening across portfolio companies under Custos ownership. 

Portfolio at a Glance

Three Platform Companies | Three Continents | Exceptional Growth 

 Our current portfolio spans shipyard operations in the United States and Norway, and offshore support vessel operations serving global energy markets. Since acquisition, Fraser Shipyards and VM Group have each more than tripled revenues, validating our operational approach and value creation capabilities. 

 Combined Portfolio Metrics: 

  • Geographic Presence: North America, Nordic Europe, Middle East, Asia 
  • Revenue Growth: Fraser Shipyards +222% (2021-2025) | VM Group +222% (2021-2025) 
  • Employee Base: [Number] employees across portfolio companies 
  • Asset Base: Modern shipyard facilities and offshore support vessel fleet 
  • Market Position: Critical infrastructure serving essential maritime industries  

Our Portfolio Companies

Each portfolio company benefits from Custos’ active ownership while maintaining operational independence under experienced local management teams. We provide strategic guidance, capital resources, best practice sharing, and growth support while respecting the operational expertise and customer relationships that make each business successful.

Fraser Shipyards 

Superior, Wisconsin, United States 

Sector: Shipyard Operations & Marine Repair 

Acquired: [Year] 

Revenue Growth: USD 18M (2021) → USD 58M (2025) 

Fraser Shipyards is a full-service shipyard and marine repair facility serving the Great Lakes maritime industry with comprehensive drydocking, fabrication, and vessel maintenance services. 

[LEARN MORE ABOUT FRASER SHIPYARDS →] 

VM Group 

Oslo, Norway | Dubai, UAE 

Sector: Offshore Support Vessels 

Acquired: [Year] 

Revenue Growth: USD 9M (2021) → USD 29M (2025) 

VM Group operates a modern fleet of offshore support vessels providing marine logistics, crew transfers, and specialized support services to global offshore energy and subsea construction markets. 

[LEARN MORE ABOUT VM GROUP →] 

Fosen Yard 

Trondheim, Norway 

Sector: Shipyard Operations & Vessel Maintenance 

Acquired: [Year] 

Strategic Focus: Nordic maritime infrastructure platform 

Fosen Yard is an established Norwegian shipyard specializing in vessel repair, maintenance, and conversion services for Norway’s extensive coastal fleet, fishing industry, and offshore support operations. 

[LEARN MORE ABOUT FOSEN YARD →]

Value Creation in Action

Our operational improvements drive sustainable revenue growth and margin enhancement across portfolio companies:

 

Operational Excellence 

  • Enhanced facility utilization and production scheduling 
  • Improved safety programs and quality management systems 
  • Workforce development and training initiatives 
  • Technology investments and process optimization 

Commercial Growth 

  • Strengthened customer relationships and account management 
  • Expanded service offerings and market penetration 
  • Strategic pricing optimization 
  • Geographic and market segment diversification 

Strategic Investments 

  • Facility upgrades and capacity expansion 
  • Fleet optimization and vessel improvements 
  • Technology and equipment investments 
  • Working capital optimization 

Platform Synergies 

  • Best practice sharing across operations 
  • Coordinated procurement and vendor management 
  • Cross-selling opportunities between portfolio companies 
  • Shared back-office functions and systems 

About Custos

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Maritime Operations
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