Lurssen Yachts Announces Acquisition of Blohm + Voss
Lurssen Yachts has a world-renowned reputation for shipbuilding, stretching back five generations to 1875. The venerable luxury motor yacht builder has constructed some of the largest superyachts on the sea: the 319-foot “Carinthia VII,” the 315-foot “Limitless,” the 377-foot “Pelorus,” Paul Allen’s 414-foot “Octopus,” and “Rising Sun” at 452.5 feet. Taking delivery in the spring of 2012 is the 295-foot “Ace,” at five decks high.
The Bremen based shipyard, recently announced it’s acquisition of Blohm+Voss. The Hamburg based shipyard has worked on the design and build of many superyacht projects, but is better known for its repair and refit operations for naval and commercial vessels. The move by Lurssen was primarily to expand their repair and refit activities for yachts, naval and commercial ships “as well as enhancing its naval new build activities within their portfolio of operations.”
Speaking with the press, Peter Lurssen, Managing Partner at Lurssen Maritime Beteiligungen GmbH & Co. KG. said, “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. In addition, we would like to utilize the competence and experience of the shipyard and its employees for the new build of complex naval ships and continue their production at the Hamburg site.”
The two yards have a history of working together on projects for the German Navy. The parties have both agreed that the purchase price will be kept confidential.
A Positive Sign for the Industry?
The merger of these two powerful shipyards could be taken as a positive sign for the luxury motor yacht industry, one that was recently echoed by reports of increased profits for Princess Yachts, and that sales of motor yachts in general are trending upward.
Wealth-X, a well-known authority on “wealth intelligence,” recently released a report which indicates superyacht sales are rebounding, up close to 25% in the last five years.
Deciding on the new or pre-owned luxury yacht that is right for you, can be quite complex. If you would like to benefit from our expertise in these areas, or if you have any questions or comments about this blog post, do not hesitate to contact our Sales Specialists, or call us at 954-900-9988.