MB92 Group has completed the acquisition of GYG Ltd, a superyacht painting, service and supply company which trades under the Pinmar, Pinmar Yacht Supply and Technocraft brands.
The acquisition is part of MB92’s plan to drive growth through consolidation, strengthening its ability to meet evolving industry demands.
“We are honoured to welcome GYG to the MB92 Group. Over the past 30 years, our collaboration has been rooted in shared values, mutual respect, and a dedication to delivering excellence for our clients,” said Pepe García-Aubert, chairman of MB92 Group.
“Moving forward, we aim to build on this strong foundation, sharing knowledge and expertise to enhance our services while advancing sustainability and innovation initiatives that benefit the wider superyacht community.”
The acquisition of GYG reinforces our commitment to continue supporting excellence and innovation in the superyacht sector.
John Nery
Remy Millott, CEO of GYG, added: “This is an exciting new chapter for our company. With MB92’s support, we are well-positioned to continue delivering the high-quality standards our clients expect while exploring opportunities for future growth.”
He added: “Together, we can further optimise operations, elevate the level of service, and continue to advance in areas such as paint application, project planning and digitalisation, ensuring we remain at the forefront of the industry.”
GYG was founded more than 50 years’ ago and will continue to operate independently across Europe and the US.
MB92 will continue to collaborate with a range of providers, giving clients flexibility to work with their preferred partners.
Financial resources
The superyacht refit, repair and maintenance company manages more than ten large-scale paint projects annually across the Group.
“The acquisition of GYG reinforces our commitment to continue supporting excellence and innovation in the superyacht sector,” said John Nery, managing partner and head of investments at Squircle Capital, the European focused private equity firm managing the fund that owns the MB92 Group.
“With access to MB92’s strong financial resources, GYG will enhance its operational and strategic capacities, paving the way for new growth opportunities.”
The transaction closed on 31 December 2024.
