AshGrove backs Voly’s deal for yacht crew firm Oceanskies
What's the deal? AshGroveDealroom has a profile for this one. Try Dealroom → has completed a senior secured financing in Voly, an end-to-end provider of software, payments, and payroll services to the yachting industry. The debt facility funds Voly’s investment in OceanskiesDealroom has a profile for this one. Try Dealroom →, a major provider of maritime employment and yacht registration services, plus additional growth capital.
What does Voly do? The company sells software to manage the financial and operational needs of yachts and other high-value assets. Its suite covers accounting, payments, foreign exchange, reporting, project management, and crew tools.
Why Oceanskies? The target extends Voly’s reach in yacht crew employment, payroll, HR, compliance, and registration. It combines two of the largest specialist payroll providers in yachting, said founder and group chief executive officer Ian Flanagan.
“This investment marks a really exciting addition to the Voly platform,” Flanagan said, adding it would “further deepen relationships with our customers.”
What's the endgame? The deal continues an acquisition strategy Voly has pursued since Magenta PartnersDealroom has a profile for this one. Try Dealroom → took a majority stake in 2021. The group has already bought maritime payroll firm VoyonicDealroom has a profile for this one. Try Dealroom → — now Voly CrewDealroom has a profile for this one. Try Dealroom → — crew-management software maker WorkrestDealroom has a profile for this one. Try Dealroom →, and project-management platform Pinpoint WorksDealroom has a profile for this one. Try Dealroom →.
Who's behind the money? AshGrove is a €1 billion European investment firm that builds tailored capital and financing solutions for B2B software and services businesses. “Voly is exactly the type of specialist software business AshGrove is built to support,” said James Cunnah, a director at the firm.
The signal: Debt financing to fund bolt-on acquisitions is becoming a common route for founder-led software companies to consolidate niche markets without further diluting equity. Voly’s roll-up of yachting’s back-office services shows how specialist B2B platforms are using outside capital to lock in scale and customer reach.
Read more: einpresswire.com
Image credit: Ömer Ünlü
