Who owns NVL (NAVAL VESSELS LÜRSSEN)?

NVL (NAVAL VESSELS LÜRSSEN) has been 100% owned by RHEINMETALL since April 2026.

At what enterprise value was NVL (NAVAL VESSELS LÜRSSEN) acquired in 2026?

During the acquisition of NVL (NAVAL VESSELS LÜRSSEN) by RHEINMETALL in 2026, the transaction's Enterprise Value is estimated to be in the range of 1b - 4b EUR.

What was the EV/EBITDA of NVL (NAVAL VESSELS LÜRSSEN) when it was acquired by RHEINMETALL?

The estimated EV/EBITDA multiple for NVL (NAVAL VESSELS LÜRSSEN) is in the range of below 5x.

When was NVL (NAVAL VESSELS LÜRSSEN) acquired by RHEINMETALL?

NVL (NAVAL VESSELS LÜRSSEN) was acquired by RHEINMETALL in 2026.

What was the revenue of NVL (NAVAL VESSELS LÜRSSEN) at the time of the deal?

The revenue of NVL (NAVAL VESSELS LÜRSSEN) at the time of the deal is estimated to be in the range of 1b - 3b EUR.

What was the EBITDA of NVL (NAVAL VESSELS LÜRSSEN) during the acquisition?

NVL (NAVAL VESSELS LÜRSSEN)'s EBITDA is estimated to be in the range of 250M - 500M EUR.

How is the data for the NVL (NAVAL VESSELS LÜRSSEN) acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the NVL (NAVAL VESSELS LÜRSSEN) deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.boursier.com/actions/actualites/news/rheinmetall-au-sommet-apres-son-acquisition-dans-la-construction-navale-militaire-966697.html

What is the average EV/EBITDA multiple for the Industry & Manufacturing sector in 2026?

The average EV/EBITDA multiple for the Industry & Manufacturing sector in 2026 is 11.5x.

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Home Database Industry & ManufacturingNVL (NAVAL VESSELS LÜRSSEN)

04/2026

NVL (NAVAL VESSELS LÜRSSEN) acquired by RHEINMETALL

GERMANY Aerospace, Naval & Defense / Naval EV 1b - 4b EUR

Context

Rheinmetall has finalized the acquisition of 100% of NVL (Naval Vessels Lürssen) from the Lürssen Group, which will now focus exclusively on the luxury yacht market. The transaction, agreed upon in September 2025, received final antitrust clearance in early 2026. The strategic rationale is to transform Rheinmetall into a naval powerhouse, aiming to grow NVL’s revenue from €1.3 billion to €5 billion by 2030. This acquisition ends Rheinmetall's status as a mere supplier to the maritime industry, allowing it to sell complete, armed warships. A key focus will be the integration of naval munitions and rocket motor production within NVL’s infrastructure to resolve current supply chain bottlenecks for naval missiles. This move effectively consolidates the German naval landscape, positioning Rheinmetall as a formidable competitor to TKMS and Naval Group.

NVL (NAVAL VESSELS LÜRSSEN), which reported an EBITDA margin of in 2026, is valued in this transaction at an EV/EBITDA multiple of , a level than the average currently observed in the Industry & Manufacturing sector (11.5x).

-> Deep-dive in Industry & Manufacturing market trends

Target

NVL is a specialized German naval shipbuilding group formerly owned by the Lürssen Group. The organization operates four major shipyards in Northern Germany (Wilhelmshaven, Hamburg, and Wolgast) and several international sites, employing 2,100 people. Its business model centers on the design, construction, and maintenance of high-performance surface vessels, including frigates, corvettes, patrol boats, and minehunters for the German Navy and international clients. NVL acts as a system integrator for complex naval platforms, managing everything from hull construction to the integration of mission-critical sensors and weapons. The entity is a pillar of German maritime sovereignty, providing specialized engineering for both naval and public institutional vessels.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year

Rev

EBITDA

EBIT

2026

2025

Similar deals in Aerospace, Naval & Defense

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
Date	Acquirer	Target	Country	Sector
05/2026	HIG CAPITAL	INTERNATIONAL AEROSPACE COATINGS IAC	UNITED STATES	MRO (Maintenance, Repair & Overhaul)
05/2026	ABENEX / BPIFRANCE	TETHYS	FRANCE	Electronics
04/2026	CERES INDUSTRIES CAPITAL	SEYNTEX	BELGIUM	Weaponry & Ammo
04/2026	TINICUM / BLACKSTONE	SENIOR	UNITED KINGDOM	Aerostructures
04/2026	ROCKET LAB CORPORATION	MYNARIC	GERMANY	Electronics
04/2026	GROUPE RIVOLIER	THIFAN INDUSTRIE	FRANCE	Weaponry & Ammo
03/2026	LEONARDO	IDV GROUP	Italy	Ground Vehicles & Armor
03/2026	PENNAERO	TRIMAS AEROSPACE	UNITED STATES	Aerostructures
02/2026	NEXTEAM	UCELIA	FRANCE	Aerostructures
02/2026	BOMBARDIER	VELOCITY MAINTENANCE SOLUTIONS	UNITED STATES	MRO (Maintenance, Repair & Overhaul)

REFERENCES

Valuation range: EV 1b - 4b EUR

Revenue range: 1b - 3b EUR

EBITDA range: 250M - 500M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of NVL (NAVAL VESSELS LÜRSSEN) by RHEINMETALL are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: nvl (naval vessels lürssen)

Acquirer: rheinmetall