Voly Group acquires Pinpoint Works
Financial management platform Voly Group has acquired digital superyacht project management company, Pinpoint Works. The acquisition will enhance its end-to-end solutions for the digital financial management of superyachts, according to the firm.
Voly Group said that the deal will benefit owners and captains managing new build projects or refits, offering a total solution from initial bidding to completion.
“I’m delighted that Pinpoint Works has joined the Voly Group family,” said Ian Flanagan, founder and CEO, Voly Group. “Our mutual respect, unified approach, and vision for technology within the marine space will continue to provide the superyacht sector with the cutting-edge tools set that it requires to function effectively.”
Pinpoint Works is a digital platform that provides online solutions for the entire superyachting supply chain, transforming site plans into live interactive work lists (pictured).
It was founded by superyacht captain James Stockdale and his wife Leslie Gillotte, after they became frustrated with the “inadequacies of basic spreadsheets” used in the industry.
“James and I, along with the rest of the Pinpoint Works team, are excited to have joined Ian and his team at Voly Group,” said Gillotte.
“Watching their business and influence in the industry grow alongside our own, we realised early on that we shared the same approach to our individual solutions: do one thing and do it well.”
Flanagan of Voly Group also noted that investment firm Magneta Partners was instrumental in closing the deal.
“We are already working closely together [with Magneta Parnters] on the next Voly chapter, please watch this space,” he said.
The terms of the acquisition were not disclosed.