STAR Capital Partners acquires Blohm + Voss Shipyards

Mon Dec 12 2011, 15:30 PM

Purchase includes all of ThyssenKrupp’s non-military businesses

STAR Capital Partners has signed an agreement with ThyssenKrupp AG to acquire German superyacht builder Blohm + Voss Shipyards as well as its refit business Blohm + Voss Repair.

The acquisition includes all of the non-military parts of ThyssenKrupp Marine Systems, including components supplier Blohm + Voss Industries and Blohm + Voss Oil Tools, which provides pipe-handling equipment for the oil and gas sector, leaving ThyssenKrupp to concentrate on military surface vessels and submarine construction.

STAR Capital will continue the operations on all sites, committing significant amounts of capital to the businesses to ensure they are in a position to take advantage of growth opportunities in the future.

“I am looking forward to working with STAR Capital’s investment team to make the business even stronger,” says Blohm + Voss CEO, Herbert Aly. “We hope to take advantage of the opportunities in which these businesses exist with the backing of our new owners who share our vision for the business.”

The transaction is subject to the approval of Germany’s supervisory bodies and competition authorities.

It is expected that the deal will be concluded early next year.