Star Capital: New Owner of the civilian Blohm + Voss

(Press Release)
Wednesday, February 01, 2012

With the deal officially closed on January 31, 2012, the sale of the civilian Blohm + Voss companies – Blohm + Voss Industries, Blohm + Voss Repair and Blohm + Voss Shipyards (plus their subsidiaries) – to the UK investment company Star Capital Partners (SCP) is now complete. The purchase agreement between ThyssenKrupp Marine Systems AG and SCP for the acquisition of these companies was finalized on December 11, 2011. The new owners will continue to manage and develop the Blohm + Voss civilian business units. 

The three companies, Blohm + Voss Industries, Blohm + Voss Repair and Blohm + Voss Shipyards, will continue to operate as independent companies under the umbrella of a controlling company. Top management at the companies will remain largely unchanged and will continue to be responsible for operative business. As the new owners, SCP's primary role will be to supply capital for the civilian Blohm + Voss companies in order to drive growth within existing business activities. In this way, SCP will secure the foundation for ensuring both job retention and new job creation. 
"Blohm + Voss is a strong brand and the new ownership structure creates both transparency and security for customers and employees alike," emphasizes Dr. Herbert Aly, CEO of the three civilian companies. 
Star Capital Partners CEO Tony Mallin has set some ambitious goals with this acquisition: "Our commitment to Blohm + Voss is an investment in one of the world's leading shipbuilding and engineering brands. We will continue to develop the Blohm + Voss brand, generate growth and create new employment opportunities." 
Blohm + Voss Shipyards will continue to apply its unique know-how to luxury mega-yacht construction in the future. The partnership with Blohm + Voss Naval – which will continue under the ownership of ThyssenKrupp Marine Systems – will also proceed as before, for projects such as the construction of the four F125-class frigates for the German Navy
Blohm + Voss Repair sees excellent prospects in the growing offshore sector – a sector where the company already possesses outstanding expertise. Its service portfolio not only includes the complex and technologically demanding conversion of vessels and craft for oil and gas platform supply, but also services for vessels and platforms in the offshore wind power sector. Its leading position in retrofitting and services for cruise liners and merchant ships will also be expanded to a similar degree. Blohm + Voss Repair also sees potential growth in retrofitting and modernization work for mega-yachts – a field in which the company has a long and distinguished record. Development of the Oil Tools unit will also be prioritized: a sector where Blohm + Voss Repair has 
also worked hard to acquire a strong market position. 
Shipbuilding supplier Blohm + Voss Industries, one of the world's market leaders within its segment, will also be expanding its service business to cover all of the key shipping markets worldwide. For decades, shipbuilders and shipowners have relied on the quality and reliability they can expect from components made by Blohm + Voss Industries. 
Based in London, the new owners of Blohm + Voss, Star Capital Partners, specialize in the financing of capital-intensive businesses. The investment company was formed in 2000 and manages total funds of around a billion euros. SCP provides promising companies in growth markets with capital in order to both finance ongoing activities and develop new business. Its objective is to achieve – or to secure – the acquired company's position as the leader in its market. 
"Investors Star Capital Partners are an excellent match for Blohm + Voss," emphasizes Dr. Herbert Aly, in commenting on the change of ownership. "Their commitment will enable all three companies to continue to develop their business models, since we are not only active in booming markets but have a huge market potential. Thanks to SCP, the shipyard will be retained, and SCP also offers excellent prospects for our highly-qualified and dedicated workforce". 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Norwegian Unions Say 755 O&G Workers Could Strike

About 755 Norwegian workers on seven oil and gas fields could go on strike from Saturday, hitting output from western Europe's top producer, if a new wage deal is not agreed before a Friday deadline,

Day of Seafarer: ICS Highlights Seafarers Role in Migrant Rescues

Gerardo Borromeo, Vice Chairman of the International Chamber of Shipping (ICS) took the opportunity today to highlight the courage that is currently being displayed by seafarers,

“Twiggy” Baker Wins BWT Puerto Escondido Challenge

Grant “Twiggy” Baker (ZAF) claimed victory today at the Puerto Escondido Challenge, besting a field of 24 of the world’s best big wave surfers in towering 20-to-35

Ship Repair & Conversion

Cathelco Supply BWT System for Cable Laying Vessel

Cathelco have supplied a ballast water treatment (BWT) system for the C.C. Pacifique, a steel barge which is being converted into a cable laying vessel for Coastal Carriers BV of the Netherlands.

Turkey to Modernize Pakistan’s Subs

The Turkish defense firm Defense Technologies and Engineering (STM) won the tender to modernize Pakistan's submarines against its French competitor DCNS, reports Daily Sabah.

Turkey Launches F-513 TCG Burgazada

Turkish Navy’s third Milgem class corvette, the F-513 TCG Burgazada, created as part of the MILGEM project, was launched with a ceremony attended by Turkish President

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Port Authority Salvage Ship Repair Ship Simulators Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0932 sec (11 req/sec)