Star Capital reaps 3x on Blohm+Voss sale

Under Star's tenure, Blohm+Voss was significantly restructured, with the business divesting its non-core assets – primarily its marine components division and its oil & gas pipe handling division.

The GP then consolidated the company's shipyard and repair business into one entity and brought in a new management team. Under its new structure, Blohm+Voss also expanded its yacht design and development activities.

Star also committed additional capital to the company's restructuring process shortly after its initial investment.

In its most recent buyout in the country, Star acquired German IT business Globalways, in which it plans to inject a further €60m of growth capital.

Previous funding
Star acquired the Blohm+Voss group from ThyssenKrupp in an all-equity deal valued at around $150m in December 2011. The transaction included the acquisition of Blohm+Voss Industries, a provider of marine components; Blohm+Voss Repair, a ship repair and conversion business; Blohm+Voss Oil Tools, a provider of pipe handling equipment to the oil & gas sector; and Blohm+Voss Shipyards, a shipbuilder focused on large yachts and naval vessels.

Company
Founded in 1877 and based in Hamburg, Blohm+Voss is a shipyard specialising in the building, maintenance, repair and refitting of naval vessels and large yachts.

People
Star Capital – Paul Gough (managing partner).
Blohm+Voss – Fred van Beers (CEO).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Exits
• DACH
• Industrials
• Germany
• Trade sale
• STAR Capital Partners