Two of the world’s largest superyacht makers are set to merge after UK-based Star Capital Partners agreed to sell German shipbuilder Blohm+Voss to fellow family-owned German boat specialist Luerssen Group.
Star Capital bought the group of four Blohm+Voss businesses in 2011 from German steel major ThyssenKrupp and quickly offloaded two of the four businesses. It later merged the group’s repair and shipbuilding operations into one entity.
Blohm+Voss now primarily focuses on the building, maintenance and repair of naval vessels and luxury ships favoured by high net worth individuals.
Blohm+Voss built the world’s second largest yacht, the Eclipse, for Russian oligarch and Chelsea owner Roman Abramovich.
Luerssen has acquired Blohm+Voss to strengthen their portfolio in the repair and refit activities, with the group set to expand to six highly specialised shipyards in Northern Germany with around 2800 employees.
“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,” commented Peter Luerssen, managing partner at Luerssen Maritime Beteiligungen.
Pricing of the deal, which is subject to approval by the German Fair Trade Commission, was not disclosed.