Civmec to acquire shipbuilder Luerssen Australia under $13m deal

Australia's Civmec will acquire compatriot shipbuilder Luerssen Australia from Germany's NVL Group via a transaction valued at approximately AU$20 million (US$13 million)

Upon completion of the transaction, NVL will transfer all its shareholding in Luerssen Australia to Civmec, including all assets, employees, and licences.

Civmec had earlier said that this would ensure the uninterrupted design and build of the Royal Australian Navy's six Arafura-class offshore patrol vessel (OPVs) at the Osborne South shipyard in South Australia and the Civmec-owned facility in Henderson, Western Australia.

Luerssen Australia’s sole business is the manufacture of the six Arafura-class OPVs under the existing SEA1180 contract with the Australian Department of Defence.

The acquisition would enable Civmec to consolidate its role in the OPV program, which also includes development of future capabilities.

The completion of the acquisition has a target date of Tuesday, July 1. Following the acquisition, Luerssen Australia will operate under the name Civmec Defence Industries as a wholly owned subsidiary of Civmec.