Magenta Partners (London, UK) portfolio company, Voly Group, a leader in financial management solutions for the yachting industry, today announced its acquisition of Voyonic, a prominent provider of maritime payroll and crew services.
With the addition of Voyonic, Voly Group extends its accounting, treasury & payments, work list management offerings to include multi-jurisdiction payroll capabilities, further solidifying its position as the go-to solution for end-to-end financial management in the maritime sector.
This is the third acquisition under Magenta’s ownership and marks another significant step forward in Voly’s suite of market-leading products. Palatine’s Credit Growth Fund provided debt support for the deal.
Voly was established in 2016 by former professional tennis player Ian Flanagan and has rapidly grown to become the market leading multi-asset financial management platform in the yachting sector. It employs circa 100 staff at its HQ in Cheadle, Greater Manchester and locations across the UK and Europe. In 2021 Voly Group received private equity investment from Magenta Partners.
Founded in 2007, Voyonic have built a strong reputation over the years, providing hundreds of companies in the maritime industry with a diverse array of services, including payroll, crew management, crew logistics, training, and employee services. Voyonic’s robust platform and expertise make it an ideal fit for Voly’s vision of digitalising the maritime industry’s payroll and employment services.
Neil Carrington – Managing Director Voyonic:
“Voyonic has always prided itself on the quality and robustness of the employment services that we provide. Recognising that in order to develop further, we required more technological solutions, a search began a few years ago to find the right partner. Fortuitously Voly Group were seeking added value services for their clients and after the initial meeting with Ian, it was an obvious perfect match and a vision myself and the Voyonic team are aligned with.”
Ian Flanagan, Founder & CEO of Voly Group, commented on the acquisition:
“The acquisition of Voyonic is a pivotal step in advancing our strategic vision, enabling us to introduce cutting-edge technologies for crew services. This transformation will revolutionise the management of payroll and employment services across the maritime industry, from streamlining how crew members log their workdays to modernising how they receive their pay.
We remain committed to driving innovation, continually enhancing the yachting ecosystem for everyone involved—whether it’s the crew, management companies, or family offices. Our top priority is to deliver an exceptional experience, with a focus on providing more accurate, transparent reporting and better service to the remarkable yacht owners who are the backbone of this industry.”
Tom Matthews, Partner Magenta Partners:
“The acquisition and integration of Voyonic into Voly Group will create more benefits for superyacht owners, managers, captains and crew. It further cements Voly’s market leading service proposition and is a big step toward creating the industry standard ERP solution for super yacht management, a large and growing market. ”
Voly Group Acquires Voyonic – Provider of Maritime Payroll and Crew Services — Voly Group