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Global Yachting Group MBO with Lonsdale Capital Partners

GYG Pinmar Rolling Stock

Global Yachting Group (GYG), the parent company of Pinmar and Rolling Stock, has secured management buyout support from Lonsdale Capital Partners, allowing it to push ahead with expansion plans and secure its future as the leading superyacht service provider in its field.

GYG's management team is led by Executive Chairman Remy Millott, Rupert Savage (CEO), and Peter Brown (COO), who will each make a significant reinvestment in the business alongside majority stakeholder Lonsdale. Mark Conyers will also reinvest, standing down as CEO of Rolling Stock to work alongside Remy Millott in a business development capacity as Group Ambassador.

This investment in GYG comes at a time when the number of superyachts on the water continues to grow, in line with the increasing number of billionaires. In 2015, there were approximately 5,200 superyachts in operation and the fleet is expected to rise some 15% to 6,000 by 2020, according to Superyacht Intelligence; while the number of billionaires is expected to rise by over 30%, from 1,700 in 2015, to 2,500 in 2020 according to UBS. Alongside this, the superyacht finishing market is growing at an estimated 6% CAGR (source: Parthenon).

With Lonsdale's investment and wider support, GYG intends to grow organically and through acquisition, develop its new build and refit capabilities, as well as its presence in the world’s premier shipyards.

Remy Millott, Executive Chairman of the Global Yachting Group, said: “We will still focus on our core business, so for our clients it’s business as usual. Our goal is to take the Global Yachting Group forward from being  the world’s leading provider of painting services to superyachts, and expand our range of services and geographical reach. We are excited to have Lonsdale Capital Partners behind our ambitious growth strategy and we believe that in Lonsdale we have the perfect partner to support us in meeting our objectives of continuous improvement and expansion.”

Alan Dargan, founder of Lonsdale Capital Partners, said: “We invested in the Global Yachting Group because  it has  an experienced and  proven management  team, the sector is growing fast and the business is the leader in its field. We will support the Group's continued strong growth and look forward to working with Remy, Rupert and their team.”

About Global Yachting Group:

Headquartered in Palma, Mallorca,and with significant operations in Barcelona and Florida, GYG specialises in painting and maintaining superyachts, and operates globally. GYG was formed following the 2014 merger of two well-­‐known superyacht service businesses: Pinmar and Rolling Stock. The Group has the broadest international service capability in the superyacht sector, including real estate interests in refit facilities, yacht finishing, supply, scaffolding and covering and surface treatment.

About Lonsdale Capital Partners:

Lonsdale Capital Partners is an experienced, hands-­on private equity firm focused on the smaller end of the mid-­market. It makes majority investments across a variety of sectors and in cash generative businesses in the UK and Europe, with an enterprise value of £10-­50 million and up to £10million of EBITDA. Lonsdale Capital Partners has completed eight principal investments and two exits to date. In total, the team has worked on over 30 private equity deals since 1996.

Lonsdale Capital Partners was founded in 2009 by Alan Dargan, Ross Finegan and David Gasparro who combined their experience of the private equity, advisory and asset management sectors. The company draws on a significant collective experience of working in large organisations and applies that to the smaller end of the private equity market.

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