In an effort to strengthen its portfolio in the repair and refit activities for yachts, naval and commercial ships, the German shipbuilder Lürssen has acquired the Blohm+Voss shipyard in Hamburg for an undisclosed price.
The contract between Lürssen and the funds of British private equity investor, Star Capital Partners has been signed and the agreement is currently subject to approval from the German Fair Trade Commission (Bundeskartellamt).
“With the acquisition of Blohm+Voss we are taking over a shipyard with a strategically advantageous location and versatile production facilities. We want to use these facilities to complement our existing refit and repair activities and also to offer our customers an ever better service,” Peter Lürssen, Managing Partner at Lürssen Maritime Beteiligungen GmbH & Co. KG. said.
While the shipyard is expected to continue building naval ships, the construction of yachts at the Hamburg yard will depend on the overall market situation, Lürssen added.
Pending approval from the German Fair Trade Commission, Lürssen will combine six shipyards with approximately 2800 employees in Northern Germany.