SEPTEMBER 28, 2016 — Hamburg's iconic Blohm+Voss shipyard is being acquired by family-owned and Bremen-based shipbuilder Luerssen.
Since its 2012 sale by ThyssenKrupp AG, Blohm + Voss has been a portfolio company of British private equity investor Star Capital partners. The contract between Luerssen and Star Capital Partners has been signed and the agreement is currently subject to approval from the German Fair Trade Commission (Bundeskartellamt). The parties have both agreed that the purchase price will be kept confidential.
"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," explains Peter Luerssen, Managing Partner at Luerssen Maritime Beteiligungen GmbH & Co. KG. "In addition, we would like to utilize the competence and experience of the shipyard and its employees for the newbuild of complex naval ships and continue their production at the Hamburg site. The construction of yachts at the Hamburg yard will depend on the overall market situation and it is difficult to judge at this time."
"After the trade commission’s approval," says Mr. Luerssen, "our primary efforts will be guided towards talking with the employees of Blohm+Voss. We will discuss the necessary steps to efficiently adopt the individual capabilities of the shipyard into our group and secure the balance between our shipyards in the future and together, navigate through the difficult market situation we find ourselves in today."
The two companies have a long history of successful cooperation.
"Based on the long-term and trusted cooperation on all levels between the two shipyards - we are currently working together on the construction of the new German Navy Frigate Type F125 - we are confident that we already have a good basis on which to continue this relationship and to move forwards with the companies under one roof," says Dr. Klaus Borgschulte, Technical Director at Luerssen Werft GmbH & Co. KG.
Blohm+Voss CEO Fred van Beers comments, "For Blohm+Voss, customer focus and service take priority. With Luerssen we are gaining a long-term strategic owner who wants to jointly develop our company and expand our core business services."
Luerssen Group was founded in 1875 and specializses in the design and production of yachts over 60 m as well as naval and coast guard ships. The commercial and naval new build business is complimented by comprehensive after-sales support including repair, refit, maintenance and worldwide logistics services.
Rolf Heinrich, Köln