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Blohm + Voss Acquired By STAR Capital Partners
German shipbuilder Blohm + Voss is to be purchased by STAR Capital Partners, a leading European fund manager, as part of a deal that also includes several of the shipyard’s adjoining businesses, it has been announced.
Currently a subsidiary of ThyssenKrupp Marine Systems, Blohm + Voss Shipyards will be joined by Blohm & Voss Industries, Blohm & Voss Repair and Blohm & Voss Oil Tools in becoming part of STAR Capital Partners.
The multi-million pound deal is expected to be completed in early 2012, subject to regulatory approval.
Blohm + Voss CEO, Herbert Aly, said: “I have built a strong working relationship with STAR Capital over the last few months and I am looking forward to working with their investment team in order to make the business even stronger.
“Opportunities exist in each of the markets within which the businesses operate. We hope to take advantage of these opportunities with the backing of our new owners who share our vision for the business.”
Founded in 1877 by Hermann Blohm and Ernst Voss, Blohm & Voss is one of the world's most historical shipyards.