Civmec gives update on Luerssen Australia acquisition

Civmec entered into a non-binding agreement for the acquisition.

Civmec reported positive progress with the due diligence process on its acquisition of Luerssen Australia.

On 15 October 2024, Civmec entered into a non-binding agreement with Germany’s NVL B.V. & Co. KG (Naval Vessels Lürssen) to acquire NVL’s unit, Luerssen Australia.

The agreement will transfer all of NVL's shareholding in Luerssen Australia to Civmec, including all assets, employees, and licences.

Luerssen Australia is responsible for building six Arafura Class Offshore Patrol vessels for the Royal Australian Navy under the SEA 1180 contract.

Civmec and NVL are working towards a revised effective date for the transfer of ownership to be on or before 1 July 2025.

In addition, the parties have entered into a Service Level Agreement to immediately implement program efficiencies and cost reductions by providing Luerssen Australia with shipbuilding services and operational support.

“We have made significant and positive progress on our due diligence for the purchase of Luerssen Australia. Our new Service Level Agreement with Luerssen Australia will allow Civmec to provide additional support to the build of the Offshore Patrol Vessels, increasing confidence in the programme’s delivery and ensuring a seamless transition,” Jim Fitzgerald, executive chairman of Civmec said.

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