Rheinmetall has agreed to acquire Naval Vessels Lürssen (NVL) from the Bremen-based Lürssen Group, marking a major step in the consolidation of Germany’s defense shipbuilding sector.
The deal will see Rheinmetall take over all NVL locations and approximately 2,100 employees, integrating the division as a separate business within the group.
Neither company disclosed the purchase price.
Analysts estimate NVL’s value at between 1.5 and 2 billion euros ($1.7 to $2.3 billion), citing its steady margins.
NVL runs four shipyards in northern Germany and several international sites, building customized naval vessels and moving into autonomous maritime systems.
Rheinmetall has been on a growth surge since Russia’s full-scale invasion of Ukraine in 2022, producing tanks, infantry fighting vehicles, artillery, drones, and air defense systems while planning new ammunition plants in Ukraine and Romania.
Strategic Expansion
The companies called the acquisition a decisive step to expand into naval shipbuilding and cement their position as a leading defense technology provider in Germany and Europe.
“The combined capabilities of Rheinmetall and NVL will generate mutual growth and thus strengthen our corporation’s position in the naval sphere,” said Armin Papperger, CEO of Rheinmetall.
“At the same time, we are making a substantial contribution to strengthening the naval defence capabilities of Germany and its NATO allies.”
Following the sale, Lürssen will refocus entirely on its civilian megayacht business.
The Rheinmetall deal comes after NVL’s recent joint venture with British defense firm Kraken Technology to speed up the development and production of unmanned surface vessels, aiming to meet growing global demand for drone ships.
