Hornblower Group to Be Acquired and Receive Significant New Equity Investment
Under the terms of the agreement, funds managed by Strategic Value Partners, LLC and its affiliates (together, "SVP"), a global alternative investment firm, will acquire majority ownership of Hornblower and provide a significant equity investment in the business.
- Under the terms of the agreement, funds managed by Strategic Value Partners, LLC and its affiliates (together, "SVP"), a global alternative investment firm, will acquire majority ownership of Hornblower and provide a significant equity investment in the business.
- Crestview Partners ("Crestview") will retain a significant minority position in Hornblower and become the sole owner of Journey Beyond, a stand-alone operating unit of Hornblower and the leading experiential travel provider in Australia.
- Hornblower is taking this action because of the underperformance of AQV, which has not rebounded from the pandemic.
- With substantial growth potential in travel and tourism, we see significant opportunities ahead for Hornblower to further expand its leadership position.