A family giant
The Lürssen shipyard, based in Bremen in northern Germany, is still owned by the Lürssen family. Founded in 1875, it is today specialized in the construction of top-of-the-range yachts above 60 m and in that of military ships. He confirmed his ambitions on the Monaco Yacht Show and the takeover of his Hamburg competitor Blohm+Voss.
Blohm+Voss was created at the end of 2010 as a result of the separation of the civil and military activities of the Thyssen Krupp group and was acquired by the British investment fund Star Capital in 2011. The site is distinguished in particular by its strong activity in the refit sector.
Concentration and complementarity in yachts
While Lürssen is particularly known for its new constructions, Blohm+Voss has a major know-how in yacht reconversion and refit. The merger of the two shipyards is an important step in the concentration of the sector and allows the birth of a versatile and powerful player.
La Ciotat, one German hunts the other
As we mentioned in our columns, Blohm+Voss recently obtained the concession to exploit the great shape of La Ciotat. The Lürssen Group as a whole will now benefit from this new infrastructure. The Bouches du Rhône site should benefit from the merger which is expanding its customer portfolio with an ever-increasing fleet of yachts to be maintained in the Mediterranean.
The amount of the transaction will not be disclosed. The agreement must be validated by the Bundeskartellamt, the German competition authority.