Bremen based shipyard Luerssen acquires Blohm+Voss

YardFamily owned and Bremen based shipyard, Luerssen and Blohm+Voss shipyard in Hamburg are embarking on a new future together.

With the acquisition of Blohm+Voss, Luerssen is entering into a long term relationship to strengthen their portfolio in the repair and refit activities for yachts, naval and commercial ships as well as enhancing its naval new build activities within their corporation.

The contract between Luerssen 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).

Pending approval, Luerssen will combine six highly specialised shipyards with approximately 2800 employees in Northern Germany.

The parties have both agreed that the purchase price will be kept confidential. The Star Capital funds acquired Blohm+Voss in December 2011 from ThyssenKrupp.