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.

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