British buyout firm buys Bismarck shipbuilder

Tuesday 13 December 2011 11:00 GMT

Your support helps us to tell the story

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.

At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.

Your support makes all the difference.

The British private equity investor Star Capital yesterday paid €150m (£127m) for the Hamburg shipbuilder which built the Bismarck battleship and Roman Abramovich's Eclipse superyacht.

Star snapped up three marine businesses from the German industrial giant ThyssenKrupp, including the yacht-builder Blohm + Voss Shipyards, Blohm + Voss Repair, which refits cruise liners including the Queen Mary 2, and Blohm + Voss Industries, which makes components for oil and gas rigs. The businesses together bring in revenues of €400m a year and employ more than 1,500 people, mostly in Hamburg. Insiders said Star had paid an enterprise value – including debt and other liabilities – of €150m.

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

British buyout firm buys Bismarck shipbuilder

Join our commenting forum

Thank you for registering