The Global Yachting Group (GYG), parent company of Pinmar, Pinmar USA, Rolling Stock, Pinmar Supply and Techno Craft has announced the acquisition of a majority stake in the leading French superyacht finishing company ACA Marine.
Founded by Chris Atkinson in 1997, ACA Marine has become a leading fairing, painting and finishing company in Europe with a reputation for excellence. ACA Marine dominates the refit market in France and has a solid presence in the new build market in northern European.
Based in La Rochelle, the company engages over 180 experienced technicians that are deployed in shipyards in France, Germany, Holland and the UK.
ACA is managed by Chris Atkinson and director Nick Carter who remain as executive directors and significant shareholders following the acquisition.
Commenting on the acquisition by GYG Chris Atkinson said,
“We are delighted to become a part of the Global Yachting Group as it will enable us to compete more effectively in both the refit and new build sectors whilst retaining our reputation for delivering a high quality service to our clients. We have developed a strong market niche for ACA Marine which we will continue to operate from within the GYG portfolio. With the strong financial backing of GYG and the access to additional technology and resources I foresee a very exciting future for ACA Marine.”
Headquartered in Palma, Mallorca and with a significant operation in Barcelona, GYG has established its position as the world´s leading specialist yacht painting and finishing company, operating in shipyards around the world, providing services to many of the world’s most high profile superyachts.
Since securing private equity investment in March 2016 from Lonsdale Capital Partners, GYG has an ambitious growth strategy in core European new-build and refit markets. The acquisition of ACA Marine is a logical next step in the execution of this strategy.
Remy Millott, Executive Chairman of the Global Yachting Group, said,
“This is a very important acquisition for GYG as it will significantly improve our European market presence especially in the French refit market as well as bringing another highly successful and respected brand in to the Global Yachting Group. Chris and Nick have built a very successful business; they run a very tight ship and are very highly regarded in the industry. I am delighted to welcome them to GYG and look forward to working with them to continue the development of ACA Marine.”
ACA Marine will operate as an independent business unit within GYG and Nick Carter will become Managing Director. Chris Atkinson will take on the role of Technical and Commercial Director to drive business growth.
Commenting on the integration of ACA Marine within GYG, Group CEO, Rupert Savage said,
“We fully recognise the value of the ACA Marine business and the unique strengths of the brand. Our mission is to work with Chris and Nick to help facilitate the profitable growth of the business, offering our clients industry leading companies in strategic locations, which will improve the quality and capacity of our services. They have a great team and we look forward to working with them.”