The defense group Rheinmetall may take over the naval shipbuilder NVL from the Lürssen Group. This has been decided by the European Commission.
The concrete plans became known last fall and Rheinmetall and Lürssen had agreed on the sale of a total of four shipyards of the spun-off Lürssen brand NVL. As usual, the transaction was subject to the approval of competition authorities. The purchase price has not yet been disclosed.
These have now been completed with the European Union. In accordance with the EU Merger Regulation, the “acquisition of sole control of the companies Blohm + Voss B.V. & Co KG and NVL B.V. & Co KG by Rheinmetall, both based in Germany, has been approved”, the Brussels competition authorities announced.
The transaction mainly concerns the construction of surface vessels and related services in the defense sector. The Commission concluded that the transaction does not raise competition concerns due to its limited impact on the market structure.
This clears the way for Rheinmetall. In the past, the Düsseldorf-based company had already shown interest in TKMS, the former naval shipbuilding division of the Thyssenkrupp Group, which is now listed on the stock exchange. The group wants to bundle more military expertise under its roof. The transaction that has now been approved involves the NVL shipyards in Hamburg, Wilhelmshaven and Wolgast, i.e. the Blohm+Voss, Norderwerft, Neue Jadewerft and Peene-Werft sites. All sites and employees are to be taken over and integrated into the Rheinmetall Group as a separate division together with the existing management. The Lürssen Group intends to focus more strongly on yacht building in the future. The shipbuilder announced last autumn that the sale was intended to “send a signal of strength and pave the way for the consolidation in the German defense industry that has long been desired politically”.
According to Rheinmetall managers, the current conflict situation shows that military assertiveness is also becoming increasingly important in the maritime sector. The aim is to meet the massively increasing requirements of the naval forces and the rising procurement budgets with high-performance system solutions that have a state-of-the-art digital infrastructure and cover the entire spectrum – from the platform and electronics to the sensors and effectors.
NVL is an important partner to the navy, competing for orders in Germany primarily with German Naval Yards and TKMS in Kiel. The division employs a good 2,100 people worldwide and generated sales of around €1 billion in the 2024 financial year. According to the company, around 1,000 ships have been built since its beginnings around 150 years ago and delivered to over fifty different navies and coast guards. Previously known as Lürssen Defence, NVL was separated from the yacht division in 2021 and continued as an independent company within the family-run Lürssen Group. “A decisive success factor” for Rheinmetall is that the Group already has “excellent market access” as a supplier in the global naval business, has a “presence in international markets” and “enjoys the corresponding trust of its customers”.
Friedrich Lürßen, Managing Partner of Lürssen Maritime Beteiligungen GmbH, explained at the time of the agreement for the sale: “We consider consolidation within the defense industry to be necessary and sensible, particularly in view of the intensified threat situation. This is the only way to ensure our country’s ability to defend itself quickly. With the sale of NVL to Rheinmetall, we are now creating the conditions for a powerful defense champion with broad-based systems expertise. We are delighted to have found in Rheinmetall a strong and trustworthy partner who can secure a successful future for NVL and its employees.” His cousin Peter Lürßen, also Managing Partner, added: “The talks over the last few weeks have shown that the chemistry between our companies is right and that we have similar values. It is important to us to place our marine division, our technological expertise and, above all, the approximately 2,100 employees of NVL in good and reliable hands.”
