Global Yachting Group, the holding company combining several brands operating in the superyacht painting and maintenance space, is now valued by public investors at over £55 million following its IPO earlier this month on LSE’s AIM market.
Gyg PLC (LON:GYG) was initially created in 2014 as the result of a merger between Pinmar, a superyacht painter, with Rolling Stock, also in the painting business but focused on sailing yachts. The Palma-based holding then consolidated its yacht refit storage and tenting business under the Techno Craft brand, which is now part of the Global Yachting Group as well.
In March 2016, private equity firm Lonsdale Capital backed a management buyout of GYG, which nearly a year later, acquired ACA Marine, a fairing business in the yachting space, which now complete’s the Global Yachting Group’s roster of brands.
Earlier this month, GYG held their IPO and hence listed themselves on the London Stock Exchange’s AIM market at a valuation of £46,6 million on July 6th. The group’s shares are now trading at £118 per share, up from the starting £112,5 price at the IPO, giving the group a market cap of over £50 million.
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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.