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.

Follow the link for more news on

mergers and acquisitions

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia