Global Yachting Group (GYG) is a leading provider of painting, supply and maintenance services to the superyacht industry, offering services globally through operations in the Mediterranean, Northern Europe and the US. The company has a strong client base, with customers including 25 of the 50 largest superyachts in the world.
GYG was admitted to London’s Alternative Investment Market (AIM) on 5 July 2017, in a deal that valued the company at £46.6m. This includes a £28.4m institutional fundraise. Zeus Capital acted as nominated adviser and sole broker on the transaction.
The company plans to use the transaction to support growth both organically and through acquisitions. This includes leveraging its market-leading position, currently holding a 17 per cent share of its core addressable market. GYG will also look to enter into new agreements with shipyards and improve operational efficiencies and synergies.
Remy Millott, chief executive at GYG, commented: “Today represents an important milestone in GYG’s history and becoming a public company will further enhance our position as a market leading superyacht painting supply and maintenance company.
We have been very pleased with the level of demand we have received from investors, and would like to welcome our new shareholders to our register as well as thanking our existing investors for their continued support. The superyacht market is growing and resilient, and I am very excited about the next stage of our journey as we continue to grow our global offering.”