Lürssen acquires Blohm+Voss yard
- Written by Daniel Barnes
In a bid to strengthen its portfolio in the repair and refit activities for yachts, naval and commercial ships, 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 was recently approved by the German Fair Trade Commission
“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,” said Peter Lürssen, Managing Partner at Lürssen Maritime Beteiligungen GmbH & Co KG.
Mr Lürssen added: “With the decision from the German Fair Trade Commission, we are a major step closer to achieving our goal and we are now able to face future challenges of the difficult market environment together with Blohm+Voss. We now have the opportunity to gain a comprehensive insight into the existing shipyard structures and to instigate primary steps for our future cooperation. In doing so, we will determine how to use the individual capabilities of the shipyard, secure the balance between all of our sites in the future and together, navigate through the difficult market situation we find ourselves in today.”
Lürssen added the shipyard is expected to continue building naval ships, with the construction of yachts at the Hamburg yard depending on the overall market situation,