M&A Deal Summary

SVP Global and Crestview Partners Acquire Hornblower Group

On February 21, 2024, distressed investor SVP Global and private equity firm Crestview Partners acquired leisure company Hornblower Group from Crestview Partners

Acquisition Highlights
  • This is SVP Global’s 1st and Crestview Partners’ 2nd transaction in the Leisure sector.
  • This is SVP Global’s 8th and Crestview Partners’ 44th transaction in the United States.
  • This is SVP Global’s 1st and Crestview Partners’ 7th transaction in California.

M&A Deal Summary

Date 2024-02-21
Target Hornblower Group
Sector Leisure
Buyer(s) SVP Global
Crestview Partners
Sellers(s) Crestview Partners
Deal Type Secondary Buyout
Advisor(s) Guggenheim Securities
Alvarez & Marsal
Perella Weinberg Partners (Financial)
Paul, Weiss, Rifkind, Wharton & Garrison
Porter Hedges (Legal)

Target

Hornblower Group

San Francisco, California, United States
 Hornblower Group provides experiences and transportation services under two premier experience divisions: City Experiences, its land- and water-based experiences as well as ferry and transportation services; and Journey Beyond, Australia's leading experiential travel group. The group's portfolio of international offerings includes water-based experiences (dining and sightseeing cruises), land-based experiences (walking tours, food tours, and excursions), overnight experiences (cruises and railways), and ferry and transportation services. Hornblower Group was founded in 1980 and is based in San Francisco, California.

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Buyer(S) 2

Buyer

SVP Global

Investor Investor Investor Investor Investor


Category Distressed Investor
Founded 2001
PE ASSETS 17.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Strategic Value Partners is an opportunistic asset management firm focused on distressed opportunities. The Firm targets distressed, deep-value opportunities where it typically takes an active role in transactions, whether driving the financial restructuring of companies facing bankruptcy, on ad hoc or formal creditors’ committees, or leading the turnaround of a business by driving the strategic and operational direction of the company. Strategic Value Partners was established in 2001 and is headquartered in Greenwich, Connecticut.


DEAL STATS #
Overall 14 of 14
Sector (Leisure) 1 of 1
Type (Secondary Buyout) 3 of 3
State (California) 1 of 1
Country (United States) 8 of 8
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-23 APCOA

Stockholm, Sweden

APCOA is a provider of parking services in Sweden. APCOA Parking Sweden has almost 2,000 parking and surveillance operations in numerous Swedish cities. APCOA is based in Stockholm, Sweden.

Buy -
Buyer

Crestview Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 9.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Crestview Partners is a private equity firm focused on challenging investment situations. Crestview targets opportunities across a broad range of industries, with a special interest in asset management, media, healthcare and financial service companies. The Firm looks to commit $100 to $250 million of equity capital in transactions valued between $500 million and $3 billion. Crestview Partners was formed in 2004 and is based in New York, New York.


DEAL STATS #
Overall 55 of 55
Sector (Leisure) 2 of 2
Type (Secondary Buyout) 13 of 13
State (California) 7 of 7
Country (United States) 44 of 44
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-22 TenCate Grass

Nijverdal, Netherlands

TenCate Grass is a vertically integrated manufacturer, distributor, and installer of artificial turfsolutions. TenCate Grass provides artificial turf solutions for both sports and landscaping applications with a portfolio of diversified brands. TenCate Grass is based in Nijverdal, Netherlands.

Sell -

Seller(S) 1

SELLER

Crestview Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 9.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Crestview Partners is a private equity firm focused on challenging investment situations. Crestview targets opportunities across a broad range of industries, with a special interest in asset management, media, healthcare and financial service companies. The Firm looks to commit $100 to $250 million of equity capital in transactions valued between $500 million and $3 billion. Crestview Partners was formed in 2004 and is based in New York, New York.


DEAL STATS #
Overall 26 of 26
Sector (Leisure) 1 of 1
Type (Secondary Buyout) 4 of 4
State (California) 2 of 2
Country (United States) 18 of 18
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-22 TenCate Grass

Nijverdal, Netherlands

TenCate Grass is a vertically integrated manufacturer, distributor, and installer of artificial turfsolutions. TenCate Grass provides artificial turf solutions for both sports and landscaping applications with a portfolio of diversified brands. TenCate Grass is based in Nijverdal, Netherlands.

Sell -