28 BOATYARD OPERATIONS Squircle Capital acquires MB92
O
n 25 September, it was announced that Squircle Capital, a European alternative investment
firm focused on private equity and value-add real estate investments, has acquired 77.5% of MB92. The transaction, which has received regulatory approval, is expected to close, subject to customary closing conditions, within the coming weeks. MB92 is widely recognised as one of the world’s leading superyacht refit players, having consolidated its market leading position by expanding its operations and client base over a period of 25 years.
In 2017, the company acquired a majority stake in Compositeworks and Blohm+Voss La Ciotat, and subsequently merged these businesses to create MB92 La Ciotat in 2018. Pepe García-Aubert, President and CEO of MB92 Group, said: “We are very pleased to welcome Squircle capital as the new majority shareholder of MB92. They have an exciting long-term vision of how to further grow the group and consolidate our position as market leader and I have no doubt that we will benefit from their strategic expertise and broad experience.
Their decision to invest in MB92 and the superyacht refit sector in particular is testament to the rising professionalism of our industry. When I think back to our humble beginnings 25 years ago, I feel extremely proud. We have evolved and reached a level of professional maturity that will enable us to move confidently into a new growth phase with Squircle Capital at our side”. José Caireta, founding partner at
Squircle Capital, added: “In just a few years, MB92 has managed to carve out a unique position, not only as a leader within the sector but also as an exemplary provider
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MARINA INDUSTRY • SEPTEMBER 2019
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of refit, repair and maintenance services for superyachts. As private equity managers, it is refreshing to find a leading industry player with local roots, a global reach and significant room for further growth. With this acquisition, we further prove our ability to identify attractive investment opportunities in the growing superyacht industry whilst adding to an existing portfolio of solid mid-market companies and unique real estate assets across several European countries”. MB92
info-barcelona@mb92.com
www.mb92.com
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