MB92 in advanced negotiations to acquire yacht paint specialist GYG Limited

Superyacht refit, repair and maintenance company MB92 Group has announced that it has signed a Heads of Terms agreement to acquire GYG Limited, a superyacht painting, service and supply company which primarily trades under the Pinmar, Pinmar Yacht Supply and Technocraft brands.

The documents and offer to implement the acquisition are expected to be agreed on and sent to shareholders of GYG Limited as early as October. This marks "an important step in a longstanding relationship between the two companies", according to a spokesperson for the yard. 

MB92 and GYG have worked together repeatedly on refit projects for over 30 years and will continue to respect and develop each company’s existing partnerships.

A statement from the yard said: "This acquisition by MB92 Group, which has facilities in Barcelona, La Ciotat and the Red Sea, supports both companies’ strategic vision to enhance market responsiveness and elevate client services. In a sector that demands the highest quality standards, GYG will continue to operate its businesses across Europe and the U.S., and the combination will allow GYG to meaningfully strengthen its growth potential and ability to deliver exceptional quality and value to clients."