The shareholders of Pinmar and Rolling Stock have formed a new multi strategy company for the superyacht industry called Global Yachting Group. The creation of the Global Yachting Group will strengthen and support these two highly regarded companies and their subsidiaries, which will continue to trade independently, with the exception of scaffolding and supply. The remaining group companies will retain their individual status, boards, management and brands to ensure they continue to offer their clients the continuity and personal service to which they are accustomed.
Rolling Stock Chandlery and Pinmar Supply will merge and trade under the name of Pinmar Supply SL thus forming a one stop shop for all supply needs. Yacht Covering Systems SL (currently trading as Pinmar Covering) and Techno Craft SL will merge and trade under the name of Techno Craft SL.
Global Yachting Group aims to leverage on an experienced and globally skilled workforce to achieve economies of scale and the capability to execute ever larger new build, refit and supply related projects. The group will have the broadest international service capability in the superyacht sector, including real estate interests in refit facilities, yacht finishing, supply (retail and distribution), scaffolding and covering, blasting and surface treatment, concierge and advisory services all offered at competitive prices.
Remy Millott, Pinmar CEO, stated that “I believe this is one of the most important joint ventures in our industry to date. It creates a strong infrastructure, with wide geographical coverage, able to deliver a full range of high quality services to the growing yacht market with its varying project sizes and demanding deadlines”.
Mark Conyers, Rolling Stock CEO, added that “The beauty of forming this service group is that both of the finishing companies retain their independence but gain enhanced logistical and supply support, allied with greater flexibility and efficiency, to be able to tackle any project anywhere on the globe while not losing focus on our centre of operations in Palma de Mallorca”
Rupert Savage, Rolling Stock MD, went on to say “Being aware of cultural and perceived differences between our companies, we felt it important to continue with our individual paint brands to remain loyal to existing clients, while benefiting from the vast experience and best practices of the enlarged group. In addition to our existing services, we will be launching ‘RS Finishing & Refinishing LITE’ – a paint division specifically focused on providing economical refinishing solutions for vessels under 30 metres.”