Strategic Value Partners, a private equity firm, has agreed to acquire majority ownership of Hornblower Group and provide a significant equity investment in the business.
Hornblower is an experience and transportation company. Hornblower’s corporate businesses are comprised of two experience divisions: City Experiences, its land- and water-based experiences as well as ferry and transportation services; and Journey Beyond, an Australian experiential travel group. Crestview Partners will retain a significant minority position in Hornblower and become the sole owner of Journey Beyond.
Guggenheim Securities LLC is serving as investment banker to Hornblower, Alvarez & Marsal North America LLC is serving as financial advisor, Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal counsel and Porter Hedges LLP is serving as co-counsel. Perella Weinberg Partners LP is serving as investment banker to SVP and other Hornblower lenders, FTI Consulting Inc. is serving as financial advisor and Milbank LLP is serving as legal advisor. PJT Partners is serving as financial advisor to Crestview, Davis Polk & Wardwell LLP is serving as legal counsel and Vinson & Elkins LLP is serving as co-counsel.