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The MB92 group, which specializes in superyacht refit and maintenance, is changing its capital structure, with Squircle Capital, which has already been present for several years, taking full control.
A gradual increase in capital from 2019 onwards
The transaction is part of a long-term process. Squircle Capital took a 77.5% stake in the company in 2019, gradually increasing its holding to 93% in 2022, then 98% in 2025, before finalizing 100% ownership in March 2026. This development reflects continuity in governance, with a shareholder already involved in the Group's direction.
Service integration with the acquisition of GYG
The Group has expanded its scope in 2025. The acquisition of GYG Limited brings with it skills in painting, technical services and supply for superyachts, through the Pinmar, Pinmar Yacht Supply and Technocraft entities. This integration brings together several refit-related businesses, with a more centralized organization of services.
An organization focused on a five-year development plan
The takeover follows a precise timetable. MB92 is pursuing a five-year strategic plan, focusing on investment in its facilities and teams. The aim is to structure reception and intervention capacities at several sites in the Mediterranean.
"The 100% acquisition reflects Squircle Capital's confidence in the MB92 project and its development. We are pursuing our progress with a long-term vision, investing in our infrastructure and our teams." says Ben Mennem, Group Managing Director.
