9 January 2013
STAR Capital Partners announces the sale of its investment in Blohm + Voss Industries
STAR Capital Partners (“STAR”) announces the sale of Blohm + Voss Industries GmbH (“BVI”) to SKF Group, a leading global supplier of bearings, seals, mechatronics, lubrication systems and services.
BVI, a leading manufacturer and servicer of premium quality equipment for critical marine applications, was acquired by STAR in January 2012 from Thyssen Krupp AG as part of its broader acquisition of the non-military parts of the Blohm + Voss Group.
The remaining Blohm + Voss businesses under STAR’s ownership are unaffected by this sale.
Commenting on the announcement, Paul Gough, Partner of STAR, said:
“The early sale of BVI was part of STAR’s original strategy when it acquired the Blohm + Voss Group in 2012 and we are very pleased to have found a trade buyer that is extremely well placed to take the business forward. The transaction is a great result for BVI, STAR and SKF. We wish all those at the company well under its new ownership”.
The sale is subject to regulatory approval which is expected in the next few weeks.