PERTH: Civmec Limited has signed a binding agreement to acquire full ownership of Luerssen Australia Pty Ltd from NVL Australia GmbH for AUD 20 million in cash, in a strategic move to consolidate its position as a leading sovereign Australian shipbuilder.
The acquisition, scheduled to close by July 1, 2025, will transfer all assets, employees and licenses of Luerssen Australia to Civmec, pending regulatory and third-party approvals. Civmec will fund the deal entirely through existing cash reserves.
Under the agreement, NVL will provide transitional support through a structured Service Level Agreement and retain liabilities incurred before the transfer. Luerssen Australia will continue to support the SEA1180 Offshore Patrol Vessel (OPV) program, with milestone entitlements prior to completion remaining with NVL.
The acquisition also includes plant and equipment valued at AUD 3.6 million. Upon completion, Luerssen Australia will be renamed Civmec Defence Industries Pty Ltd and operate as a wholly owned subsidiary of Civmec Limited.
“This acquisition marks a defining moment in Civmec’s evolution as a sovereign shipbuilder,” said Civmec Chairman James Fitzgerald. “We are strengthening our position in the defence sector while accelerating development of our end-to-end shipbuilding capabilities.”
Luerssen Australia, headquartered in Henderson, Western Australia, was established to deliver the Royal Australian Navy’s Arafura Class OPVs. It brings with it a skilled workforce, an integrated management system, and a strong local supply chain.
Tim Wagner, Chairman of Luerssen Australia and CEO of NVL, called the deal a “natural evolution,” adding that NVL will continue technical collaboration through the transition.
The transaction does not trigger Chapter 11 of the ASX Listing Rules.