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 finalised 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 of 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.”
“Investors Start 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.”
For more information please visit Blohm + Voss.