Superyacht Maintenance MB92 Group Acquires Pinmar & Technocraft

One of the world's most far-reaching superyacht refit and repair firms is bigger and better as of this year: MB92 Group's acquisition of GYG Ltd. is complete, adding the Pinmar and Technocraft brands to MB92's already impressive portfolio. The brands have shared projects for decades, but the merger, according to GYG CEO Remy Millott, has been a long-standing goal for both firms.

MB92 Chairman Pepe García-Aubert agreed that the time was right: with the superyacht industry simultaneously growing and maturing into one where maintenance is a necessity and refits ever more common, consolidating GYG's expertise, brand trust, and resources — including painting and refinishing services from Pinmar and shipyard logistics and safety hardware — with MB92's widespread shipyards will allow both to have greater efficiency, stability, and reach. Additionally, it will allow GYG to align more closely with MB92's increased focus on sustainability — part of an effort to meet the growing demand from yacht owners who'd prefer to reduce their environmental impact both during and after refits.

MB92 was already privately-owned, held largely by Squircle Capital since 2019; in advance of the merger, GYG was delisted from the London Stock Exchange, and will now be similarly free to operate without the limitations imposed by public shareholders.

Thus far, MB92 operates two shipyards in the French Riviera, one in Barcelona, and one newly-built in Saudi Arabia's Red Sea. Pinmar is based in Palma de Mallorca, but also operates in the United States from Fort Lauderale, Florida; West Palm Beach, Florida; and Savannah, Georgia.