MB92 to acquire GYG
The refit specialists are set to buy GYG, with the deal expected to close as early as October this year…
MB92 Group has signed a Heads of Terms agreement to acquire superyacht painting, service and supply specialists, which primarily trades under the Pinmar and Technocraft brands, GYG.
With a collaborative history spanning over three decades years, MB92 and GYG have successfully worked together on numerous refit projects. This acquisition marks a significant development in their ongoing relationship, as both companies commit to respecting and expanding their existing partnerships.
With facilities in Barcelona, La Ciotat, and a new refit centre under development in the Middle East, MB92 views this acquisition as an opportunity to respond more quickly to market demands and improve its services.
Following the acquisition, GYG will continue to operate its businesses across Europe and the US. With a strong presence on both sides of the Atlantic, GYG is aiming to bolster its growth potential and its ability to consistently deliver value to clients with the combined resources and expertise of both companies.
The formal offer documents required to finalise the acquisition are expected to be agreed upon and sent to GYG shareholders in October.
Profile links
NEW: Sign up for SuperyachtNewsweek!
Get the latest weekly news, in-depth reports, intelligence, and strategic insights, delivered directly from The Superyacht Group's editors and market analysts.
Stay at the forefront of the superyacht industry with SuperyachtNewsweek
Click here to become part of The Superyacht Group community, and join us in our mission to make this industry accessible to all, and prosperous for the long-term. We are offering access to the superyacht industry’s most comprehensive and longstanding archive of business-critical information, as well as a comprehensive, real-time superyacht fleet database, for just £10 per month, because we are One Industry with One Mission. Sign up here.
Related news
Passion is no longer enough to attract talent
The industry must adopt comprehensive and cohesive strategies that transcend traditional practices to secure its future, says MB92 Group
Crew
MB92 secures America's Cup partnership
The superyacht refit and repair facility will offer services to yachts attending the 37th edition of the America's Cup in Barcelona this year
Crew
M/Y Thanuja – rebuild or new build?
Classification society recognises 50-metre refit as equivalent to a new build
Fleet
Billions in the Balearics
Some key findings have emerged in a report, revealing insights into the billion-euro local nautical sector at the inaugural Balearic Superyacht Forum
The Balearic Superyacht Forum
Management buyout at Van der Valk Shipyard
Having led the Dutch yard for over 57 years, Wim van der Valk has retired following a buyout of the company’s shares
Business
Silent Yachts saved from administration
With the electric catamaran builder now under new ownership and management team, CEO Fabrizio Iarrera discusses the shipyard’s growth strategy
Business
Related news
Passion is no longer enough to attract talent
5 months ago
MB92 secures America's Cup partnership
5 months ago
M/Y Thanuja – rebuild or new build?
6 months ago
Billions in the Balearics
7 months ago
Management buyout at Van der Valk Shipyard
7 months ago
Silent Yachts saved from administration
8 months ago
NEW: Sign up for
SuperyachtNewsweek!
Get the latest weekly news, in-depth reports, intelligence, and strategic insights, delivered directly from The Superyacht Group's editors and market analysts.
Stay at the forefront of the superyacht industry with SuperyachtNewsweek