Photo: Kea Trader; Image Courtesy: Lomar Shipping

Aurelius Finance Supports Ardent Boyout

Alternative direct lender Aurelius Finance Company has provided financing to support the buyout of Ardent, a global emergency management and offshore decommissioning company, from its co-owners Svitzer and Crowley Holdings.

The deal will see Ardent’s senior management team acquire a shareholding in the company. The financial terms of the deal have not been disclosed and closing is subject to approval by the German anti-trust authorities.

Following the deal, Ardent will have expanded financial resources to help develop its position at the forefront of both the emergency management and offshore decommissioning industries while in addition expanding its offering of select subsea services. The Ardent growth potential is very significant.

The parties said that the company would retain the same team, assets and growth plan. The company will also continue to cooperate with Svitzer and Crowley Maritime Corporation on unchanged terms.

“We are delighted to partner with Peter and the rest of the management team to support Ardent as it continues to develop its offering in a growing and high-potential market,” Karun Dhir, Managing Director of Aurelius Finance Company, added.

“I believe that we have found the right partners for the next stage in Ardent’s development,” Knud Winkler, Global CFO of Svitzer, said.

“To allow Ardent and Svitzer to continue growing within their respective business areas, we decided that this is the right time to restructure its ownership arrangements and we are very happy with the partnership between Ardent and Aurelius, which brings new significant firepower to the business,” Winkler added.

“Not only does this transaction place Ardent in a good position for future growth and development, it also fits well with Crowley’s strategic growth plans as a global, singular provider of logistics services as well as superior marine and energy solutions,” Dan Warner, Senior Vice President and Treasurer of Crowley Maritime, noted.

“The deal will enable Crowley to continue its successful focus on services that add superior value for government and commercial customers, including non-asset-based solutions that complement our transportation services on land and sea,” according to Warner.