MB92 Group has finalized its acquisition of GYG, a leading painting, service, and supply firm, as part of its strategy to strengthen its presence in the superyacht sector. The deal, completed on December 31, 2024, aligns with MB92’s goals of enhancing service offerings and driving innovation in a rapidly evolving market.
GYG, known for its brands Pinmar, Pinmar Yacht Supply, and Technocraft, will continue to operate independently in Europe and the U.S. This arrangement allows MB92 to integrate GYG’s expertise in painting and supply services with its own extensive refit and repair operations, while maintaining operational autonomy.
Pepe García-Aubert, chairman of MB92 Group, expressed optimism about the partnership. “Over the past 30 years, our collaboration with GYG has been built on shared values and mutual respect. We look forward to leveraging this relationship to advance sustainability and innovation initiatives for the superyacht community.”
Squircle Capital, the private equity firm backing MB92, supported the acquisition. John Nery, Squircle’s head of investments, highlighted the benefits of MB92’s financial backing, which is expected to bolster GYG’s operational capacity and strategic growth.
GYG CEO Remy Millott emphasized the potential for expanded services and digital innovation, describing the acquisition as a pivotal moment for the company’s future development.
For 26 years the MB92 Group comprises the refit and repair shipyards MB92 Barcelona and MB92 La Ciota. Both sites offer unrivalled facilities and employ a workforce of over 300 in-house professionals. In 2019, MB92 was acquired by Squircle Capital, a European alternative investment firm focused on private equity and real estate value-add investments.
Credits: MB92 Group