European shipyard group to be acquired by private equity firm

Publish date:

The MB92 Group is being acquired by Squircle Capital. A company statement said the investor plans to own 77.5 percent of the Barcelona-based MB92. The transaction is expected to close in the next few weeks.

MB92 Group has grown as a superyacht refit company, having acquired a majority stake in Compositeworks and Blohm+Voss La Ciotat in 2017. It merged these businesses in 2018 to create MB92 La Ciotat.

Squircle Capital has “an exciting long-term vision of how to further grow the group and consolidate our position as market leader,” said Pepe García-Aubert, president and CEO of MB92 Group, in the statement. “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.”

“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,” said José Caireta, founding partner at Squircle Capital, in the statement.

John Nery, head of investments at Squircle Capital, added: “Our focus now will be to continue growing the business organically whilst seeking new opportunities to further capitalize on the positive market dynamics we all believe in.”


Brunswick Corp. Arranges Covid-19 Vaccinations

The marine-industry conglomerate aims to protect employees and their communities against Covid-19.

Kadey-Krogen Announces New Ownership Structure

This summer, the builder and its new investor plan to reveal a five-year innovation and strategic plan.

What is America’s Finest Harbor?

Online voting is open in the US Harbors competition for the best U.S. harbor.

Bruce Van Wagoner to Retire

The 45-year industry veteran was marine group president for Wells Fargo Distribution Finance.

Patrick Acquires SeaDek Parent

The Indiana-based company continues its strategy of growth through acquisitions.

BoatUS, USPS Resume Safety Checks

The groups are offering the service during safety events, or boaters can conduct the inspection using an online guide.

Stepping Up the Pace of Relief

A positive jobs report, 3 million vaccinations per day and consumer confidence point toward economic recovery.