Crestview Partners

Hornblower Group completes its restructuring

Hornblower Group, which filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas in February, reported on July 3 that it has successfully completed its financial restructuring process and emerged with new majority ownership, a focused portfolio and financial flexibility to support its growth over the long-term. That news came less than a month after court approval of the company’s company’s plan of reorganization

Hornblower Group delivers a range of water...

https://www.marinelog.com/news/hornblower-group-completes-its-restructuring/

Court confirms Hornblower restructuring plan

Hornblower Group, which filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas in February, reports that the court has now confirmed the company’s plan of reorganization. With court confirmation of the Hornblower restructuring plan, the company, which is a major player in the U.S. ferry market, says that it “has used this process to position the business for future success with a more focused portfolio, introduce new majority ownership and strengthen its...

https://www.marinelog.com/news/court-confirms-hornblower-restructuring-plan/

Hornblower restructures, pulls plug on American Queen

As part of a restructuring that will see it get an infusion of cash and a new majority owner, Hornblower Group has filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas. The restructuring agreement will see funds managed by global alternative investment firm Strategic Value Partners, LLC (SVP) and its affiliates take majority ownership of Hornblower and provide a significant equity investment...

https://www.marinelog.com/inland-coastal/hornblower-restructures-pulls-plug-on-american-queen/

Strong economy equals good year for passenger vessels

In late 2019, Portland Spirit Cruises & Events was on track to have either its best year in 25 years or its second best. And sales for 2020 “are off to an excellent start,” Dan Yates, president of the Oregon dining and sightseeing cruise company, said late last year.

Even though the region is trade dependent on the Pacific Rim, the economy is holding up well. Unemployment and interest rates are low. Both the corporate and public sides of the business have been strong. His biggest challenge — and...

https://www.workboat.com/news/passenger-vessels/strong-economy-equals-good-year-for-passenger-vessels/