German shipbuilding group Lürssen has acquired Hamburg-based shipyard Blohm + Voss, the two companies announced Wednesday.
Lürssen, which specializes in the design and production of yachts over 60 meters as well as naval and coast guard ships, says the acquisition will strengthen its portfolio in repair and refit activities as well as enhance its naval newbuild operations.
“With the acquisition of Blohm+Voss we are taking over a shipyard with a strategically advantageous location and versatile production facilities,” explains Peter Lürssen, Managing Partner at Lürssen Maritime. “We want to use these facilities to complement our existing refit and repair activities and also to offer our customers an ever better service. In addition, we would like to utilise the competence and experience of the shipyard and its employees for the new build 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.«
Blohm + Voss’ facilities cover approximately 421,000 square meters in the heart of the Port of Hamburg, with a 92,000 m² covered manufacturing dock with 2,100 meters of quay. The shipyard was founded in 1877 and since 2011 has been owned Star Capital Partners after it purchase the yard from ThyssenKrupp Marine Systems.
With the deal, Lürssen will have a combined six specialized shipyards with approximately 2,800 employees in Northern Germany.
The companies have agreed that the purchase price will be kept confidential.
The acquisition is still subject to approval by Germany’s Fair Trade Commission.
“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 Lürssen Werft GmbH & Co. KG.
CEO at Blohm + Voss, Fred van Beers, commented, “For Blohm+Voss, customer focus and service take priority. With Lürssen we are gaining a long-term strategic owner who wants to jointly develop our company and expand our core business services.”