The German Fair Trade Commission has approved the acquisition of Blohm+Voss GmbH by Luerssen Maritime Beteiligungen GmbH & Co. KG, Luerssen said in a statement.

“With the acquisition of the Hamburg shipyard, the Bremen-based, family-owned company intends to strengthen, in particular, the service offerings for repair and refit of yachts, naval and commercial ships as well as enhancing its naval new build activities within their corporation. In the coming weeks, the first steps towards intensifying the cooperation will be initiated,” Luerssen said.

Blohm + Voss was sold by a British private equity fund investor.

“With the decision from the German Fair Trade Commission, we are a major step closer to achieving our goal and we are now able to face future challenges of the difficult market environment together with Blohm+Voss,” said Peter Luerssen, Managing Partner of Luerssen Maritime Beteiligungen GmbH & Co. KG.

During the approval process, the new owner has not been able to see or review detailed information on the internal organisational structures and processes within Blohm+Voss, Luerssen said.