Squircle Capital has acquired full ownership of the MB92 Group having increased its controlling stake in the company.
Squircle Capital first joined the shareholding structure of the superyacht refit, repair and maintenance service company in 2019 with a 77.5% stake and the option to increase its participation.
It subsequently raised its stake to 93% in 2022 and to 98% in 2025, before now reaching full ownership.
Since 2019, MB92 has experienced significant growth, strengthening its position through major investments in infrastructure and strategic locations.
Five year expansion plan
This includes the addition of a 4,800-tonne shiplift in Barcelona, the development of the 4,300-tonne platform in La Ciotat, and the expansion of its footprint with the takeover of operations in Golfe-Juan, located between Monaco and Saint-Tropez (France) in 2024.
The group has also expanded through the acquisition of GYG Limited.
The transaction which was completed in early 2025, brought into MB92 a leading company in the superyacht painting, services and supply sector, operating primarily under the Pinmar, Pinmar Yacht Supply and Technocraft brands.
The increase in Squircle Capital’s stake comes as MB92 is developing its strategic and expansion plan for the next five years.
“Squircle Capital’s acquisition of 100% of the company reflects its full confidence in the MB92 project and in the group’s growth potential,” said Ben Mennem, CEO of MB92 Group.
“With their support, MB92 will continue moving forward with a long-term vision, investing in its facilities, in its team, and in the qualities that define the company.”
Squircle Capital’s acquisition of 100% of the company reflects its full confidence in the MB92 project and in the group’s growth potential.
Ben Mennem
John Nery, managing partner and head of investments at Squircle Capital, added: “This new step reinforces our strong commitment to MB92, one of the most important assets in our portfolio, and to its impressive trajectory in recent years.
“MB92 has delivered an outstanding track record of operational and strategic success since our initial investment, and we have no doubt that this will continue in the future. Squircle Capital will remain fully supportive of the group on this journey.”
Squircle Capital is a European alternative investment firm focused on private equity and value-add real estate.
MB92 Group has shipyards across Spain and France.
