Magenta portfolio company Voly Group has acquired Workrest, a software offering designed to simplify crew management, marking a significant step forward in the group's mission to "elevate the yachting experience for owners, operators, and crew alike".
Founded in 2017, Workrest enables seamless tracking of critical tasks such as compliance tracking, leave management, and visa tracking through an intuitive mobile app.
The addition of Workrest follows Voly's recent acquisition of leading maritime payroll services provider Voyonic, with both companies now being integrated under the newly branded Voly Crew Solutions platform.
“Workrest has built a great reputation over the years, earning the trust of thousands of yacht crew by providing tools that enhance daily operations,” said Voly Group CEO Ian Flanagan. “By bringing Workrest and Voyonic under the Voly Group umbrella, we are uniquely positioned to deliver an end-to-end solution that redefines crew management tools and sets a new standard for the industry.”
I couldn't be more excited to announce that we at Workrest are joining Ian and the Voly Group," said Tim Fletcher, founder of Workrest. "Since our launch in January 2017, we've aimed to be at the forefront of digitising and simplifying the lives of those that work at sea, and this acquisition supercharges our mission."
Voly group is the world's leading yacht operation and financial management platform for superyacht captains, crew, owners, management companies and family offices. Magenta invested in 2021 and over the last 5 years has invested significantly in its software and support capabilities which has facilitated c.50% per annum growth (including throughout the pandemic) and the expansion into adjacent verticals of family offices and media.
The investment underlines Magenta’s approach of backing high growth, niche businesses with strong prospects and exceptional management teams.
Voly Group Accelerates Yachting Revolution with Strategic Acquisition of Work Rest — Voly Group