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Aurelius Finance Company is providing finance to support the buyout of Ardent, the company formed in 2015 by the merger of Crowley’s Titan Salvage with Svitzer Salvage.
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.
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.
Since the 2015 merger, Ardent has evolved and diversified its services to include offshore decommissioning of oil and gas platforms and facilities as well as subsea services.
Following the deal, Ardent will have expanded financial resources to help develop its position in both the emergency management and offshore decommissioning industries while expanding its offering of select sub-sea services.
Ardent’s CEO, Peter Pietka, will continue to lead the company with the same team, assets and growth plan. The Company will also continue to cooperate with Svitzer and Crowley Maritime Corporation on unchanged terms.
“Over the past four years, Ardent has successfully evolved from a provider purely focused on emergency management to one that is also an established player in the fast growing off-shore decommissioning market,” said Pietka. “I am very proud of what the team has achieved and am pleased to continue on this exciting and promising journey in close collaboration with our customers and partners.”
