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Joele Frank and Kekst CNC handled the financial restructuring of Hornblower Group, operator of daily ferry commuter and sightseeing cruises serving more than 20M people annually in 50-plus US cities.
Hornblower serves iconic destinations such the Statute of Liberty, Niagara Falls and Alcatraz Island.
The restructuring slashes the company's debt by $720M (more than 70 percent) and results in Strategic Value Partners taking a majority ownership position. Crestview Partners will retain a significant minority stake.
David Greenberg, co-head of SVP’s North American investment team, said the revamp gives Hornblower the financial foundation for a new era of growth. “The company is a leader in the maritime space, with a dedicated crew, robust infrastructure and an unwavering commitment to safety and service excellence,” he said.
Greenberg said SVP will help grow Hornblower’s “portfolio of world-class consumer experiences and set the standard for public-private partnerships in ferries and transportation.”
Joele Frank, Wilkinson Brimmer Katcher has Michael Freitag, Aaron Palash, and Aura Reinhard repping Hornblower.
Kekst CNC’s Jeffrey Taufield and Daniel Younger handle Crestview.
The Brand Amp represents Archer Aviation as it acquires Boeing’s $200M flying-taxi operation in return for a 20 percent stake in the Silicon Valley startup.
Amsterdam’s CFF Communications handles Accell Group as Europe’s No 1 e-bike and No. 2 bicycle maker declares insolvency after failing to find a buyer.
Randy Sinclair, who rose to lead investor relations at Chevron during an 11-year run, will move to Northrop Grumman on Aug. 10 as VP-IR.
Trailrunner International is handling Axum Capital Partners’ move to acquire a controlling interest in BARCODE, a performance hydration brand, in partnership with NBA All-Star Victor Wembanyama.
Alpha IR and Alpha Advisory Group represent McKinley Acquisition Corp. as it plans to take hostile drone spotter and destroyer Space-Eyes public via a SPAC deal valued at $370M.
