Squircle Capital strengthens its commitment to MB92 and reaches 100% ownership

MB92 Group, the world’s leading superyacht refit, repair and maintenance service company with shipyards in Spain and France, announced today that Squircle Capital, a European alternative investment firm focused on private equity and value-add real estate, has increased its controlling stake in the company, reaching 100% ownership.

This step was anticipated when Squircle Capital joined the shareholding structure in 2019 with a 77.5% stake and the option to increase its participation. It subsequently raised its stake to 93% in 2022 and to 98% in 2025, before reaching full ownership today.

Since 2019, MB92 has experienced significant growth, strengthening its position through major investments in infrastructure and strategic locations. This includes the addition of a 4,800-tonne shiplift in Barcelona, the development of the 4,300-tonne platform in La Ciotat, and the expansion of its footprint with the takeover of operations in Golfe-Juan, located between Monaco and Saint-Tropez (France) in 2024.

The group has also expanded through the acquisition of GYG Limited. Announced in September 2024 and completed in early 2025, the transaction brought into MB92 a leading company in the superyacht painting, services and supply sector, operating primarily under the Pinmar, Pinmar Yacht Supply and Technocraft brands. It marked a significant milestone in a relationship of more than 30 years between the two companies and supports a shared ambition to enhance market responsiveness and elevate customer service.

The increase in Squircle Capital’s stake in MB92 comes at a pivotal moment for the group, which is currently developing its strategic and expansion plan for the next five years. “Squircle Capital’s acquisition of 100% of the company reflects its full confidence in the MB92 project and in the group’s growth potential. With their support, MB92 will continue moving forward with a long-term vision, investing in its facilities, in its team, and in the qualities that define the company,” said Ben Mennem, CEO of MB92 Group.

For his part, John Nery, Managing Partner and Head of Investments at Squircle Capital, stated: “This new step reinforces our strong commitment to MB92, one of the most important assets in our portfolio, and to its impressive trajectory in recent years. MB92 has delivered an outstanding track record of operational and strategic success since our initial investment, and we have no doubt that this will continue in the future. Squircle Capital will remain fully supportive of the group on this journey.”