An agent for Guggenheim decreased to comment, as well as an agent for Crestview really did not quickly react to a message. Crestview Partners | 1,948 followers on LinkedIn. The acquisition, along with fees and expenses and some cash to the balance sheet, will be funded using a proposed $330 million senior secured term loan and a combination of new . . Crestview has contributed equity to the company in recent years, including its acquisition of Entertainment Cruises in 2019, and in May when it provided $45 million in revolving credit, Moody's said. Dan Kilpatrick joined Crestview in 2009 and is a partner of the firm. Kevin Rabbitt is an operating executive at Crestview and currently serves as CEO of Hornblower Holdings. Apollo Global Management, Crestview Partners, Palladium Equity Partners and Berkshire Partners in a variety of leveraged acquisition transactions. To tide it over, it's drawn down a $75 million credit line and accepted a new $45 million line of credit from Crestview Partners, its private equity backer. Mr. The firm is based in New York and manages funds with over $9 billion of aggregate capital commitments. He is also a member of the Investment Committee and head of the media str. VP Sales. We Create Amazing Experience - and Opportunities! Hornblower Group is a global experiences and transportation leader in the . Acquisition Highlights. Capital Commitments. Now, the company has moved assets from its Hornblower Niagara Cruises business into an unrestricted subsidiary, putting them out of reach of other lenders, said the people who asked not . Hornblower acquired BHC from members of the Nolan family in 2019, and installed . Hornblower Group, the Crestview Partners-owned parent company, renamed BHC on Tuesday as Boston Harbor City Cruises. This is Crestview Partners' 1st transaction in the Leisure sector. Hornblower Group moved the assets from the Niagara Cruises business into an unrestricted subsidiary, putting them beyond the reach of current creditor. Hornblower Cruises & Events: Chief Executive Officer & Board Member: 000 0000: 0000 00000000: Crestview Partners: Board Member: 000 0000: 00000 000000: Hornblower Cruises & Events: Founder & Executive Chairman: 000 0000 Industry: Tourism and Travel Services (See others in industry) Address: C/O Crestview Partners 590 Madison Avenue, 42 Nd Floor New York, NY, 10022 Phone: 212-906-0700 . The operator of the NYC Ferry system for commuters and tourists could find itself running out of time and money after Covid-19 disrupted its business during the warmest months of the year. Partners' Average Experience. Hornblower, Crestview Partners, Caspian Capital, Shearman & Sterling and Stroock did not immediately respond to requests for comment. Crestview Partners took over Hornblower in a leveraged buyout in 2018. Rabbitt serves as a Board Director on behalf of Crestview for investments at Congruex Networks and Viad Corp. Additionally, Rabbitt serves on non-profit boards for Pittsburgh Children's Hospital Foundation and Jerome . . Brian Cassidy joined Crestview in 2004. Brian Cassidy joined Crestview in 2004 and is co-president and a partner. Crestview has contributed equity to the company in recent years, including its . He was previously involved with Charter Communications, Cumulus Media, Insight Communications, Interoute . The company is subject to a minimum liquidity covenant of $10 million. Hornblower's boats paused operations in March, and although its commuter lines along the East River are . Prior to that, he was a Director of Athlete . Crestview has contributed equity to the company in recent years, including its acquisition of Entertainment Cruises last year . Hornblower is majority owned by Crestview Partners along with management and does not file public financial statements. Before joining Patricof Co, Matt was a Senior Director in the Strategic Partnerships group at Roc Nation. Explore new cities, find dinner cruises, site-seeing tours, and more. Before joining Crestview, Patrick was a vice president at Morgan Stanley Capital Partners ("MSCP"), a North America focused middle market private equity fund, where he helped lead the investing effort in the industrials and consumer & retail sectors, including serving on the corporate boards of several MSCP . Hornblower's credit profile is constrained by Moody's forecast of weak liquidity in the short term due to the impact from the spread of COVID-19 that has forced Hornblower to . Pittsburgh, Pennsylvania, United States. US-based Hornblower Group is taking over Australia-based Journey Beyond, with Hornblower, owned by New York-based private equity firm Crestview Partners. Hornblower is owned by management and private equity firm, Crestview Partners. Associate at Crestview Partners Philadelphia, PA. Alex Rose . Brian is currently a member of the boards of directors of Camping World Holdings, Congruex Holdings, Framestore/Company 3, Hornblower Holdings, ICM Partners, Industrial Media, Viad and WOW!. Hornblower Group is a global leader in world-class experiences. Today, Hornblower Group announced leading Australian based experiential travel group . A Crestview Partners upper middle market, portfolio company CFO Quick Weight Loss Centers 2017 - 2018 1 year. Jun 2020 - Present1 year 10 months. "We are actively looking at acquisitions," said Waggoner, who with partner Terry MacRae and private equity investor, Crestview Partners, own Hornblower Holdings. Hornblower Group ("Hornblower"), a portfolio company of Crestview Partners ("Crestview"), announced today it has closed on the acquisition of Journey Beyond. The private equity firm Crestview Partners, in turn, . Framestore/Company 3, Hornblower Holdings, ICM Partners, Industrial Media, Viad Corp and WOW!. CRESTVIEW, PARTNER. Kevin Rabbitt, Current CEO of Hornblower Holdings & Former President & CEO, NEP Group. Sycamore Partners Management, a firm which has historically invested in consumer retail brands such as Nine West, Cassidy will continue to . Crestview Partners took over Hornblower in 2018 and have provided support funding, but just recently Caspian Capital backed half of a $90 million dollar loan to Hornblower at a reported 11% interest. A representative for Guggenheim declined to comment, and a representative for Crestview didn't immediately respond to a message. Crestview Partners' Hornblower Cruises & Events, now under the name City Experiences, has acquired three port excursion providers so far in 2021, including shuttered ShoreTrips at the meager price of $1.8 million. Pre-covid, for example, Hornblower bought Entertainment Cruises with 53 dining and sightseeing vessels mainly in the Northeast and Chicago as well as Canadian and United Kingdom . Prior to joining Hornblower he served in several CFO roles for private equity backed companies. Hornblower Holdings LP - Most recent fund raising on October 15, 2021 raised $146,875 in Equity. . The corporate entity of . Under Crestview Partners, the Hornblower Group oversees the global experience and transportation companies under the full portfolio. Founded in 2004, Crestview is a value-oriented private equity firm focused on the middle market. Crestview Partners already operates a range of tourism and cruise brands including American Queen Voyages, which combines US river cruise operator American Queen Steamboat Company and small ship specialist Victory Cruise Lines. ategy. Nolan's resignation took effect one year after the sale of BHC, Boston Harbor's dominant ferry company, to Hornblower Holdings, a Chicago company owned by the private equity firm Crestview . -. Year Founded. --Harvard Zhang Share this article: This article is an example of the content you may receive if you subscribe to a product of Reorg Research, Inc. or one of its affiliates (collectively, "Reorg"). The firm is based in New York and manages funds with over $9 billion of aggregate capital commitments. . Join to Connect . Private equity firm Crestview Partners acquired a substantial ownership stake in Hornblower in a leveraged buyout, detailed in an analysis from the credit-ratings firm Moody's. At the time . Chicago, IL Hornblower Cruises and Events. He currently serves as head of the Crestview Partners' media and communications investment strategy and a director of Crestview portfolio companies Camping World Holdings, Inc., Congruex LLC and Hornblower Holdings. He was previously . Hornblower Group. 2004. 8 December 2020. A: Crestview Partners, which is a New York-based private equity firm that I worked with for a decade. Mr. Cassidy is a Partner at Crestview Partners, having joined the firm in 2004. The . As a result of the acquisition, Journey Beyond will join Hornblower's portfolio of travel experience companies and have a presence in 111 countries and territories worldwide. Crestview Partners took over Hornblower in a leveraged buyout in 2018. Hornblower Group - the parent company of the American Queen Steamboat Co., Victory Cruise -Lines and a number of day-cruise companies - has been owned by New York-based private equity firm Crestview Partners since 2018 when it assumed control after a leveraged buyout. Congratulations to our partners at Hornblower Group and our team, Brian Cassidy, Bradford Williams, . $10 Billion. Rating Action: Moody's upgrades Hornblower's CFR to Caa1; outlook stableGlobal Credit Research - 20 Dec 2021New York, December 20, 2021 -- Moody's Investors Service ("Moody's") upgraded the . The firm is based in New York and manages funds with over $9 billion of . Hornblower Group could have been a pandemic casualty, but its main private equity backer Crestview Partners doubled down on supporting the New York-based travel experiences operator . Related Persons. This is Crestview Partners' 27th transaction in the United States. Hornblower Group, the Crestview Partners-owned parent company, renamed BHC on Tuesday as Boston Harbor City Cruises. Chief Executive Officer. Crestview Partners is a private equity firm focused on challenging investment situations. Brian Cassidy,Director. Bio. Kevin is also a director of Congruex Holdings, TenCate Grass and Viad. Crestview Partners Completes Majority Investment in OneMagnify, a Leading Provider of Data-Driven Marketing, Analytics, and Technology Solutions. View More . Patricof also joined the board of Hornblower Holdings, according to his biography on Crestview's website and picked up an investment stake in the company, EDC records show. In addition to his role at Hornblower, Rabbitt serves as Operating Executive in the media portfolio for Crestview Partners. The sale to Hornblower Holdings follows nearly a century of family ownership. Crestview Partners | 1,904 followers on LinkedIn. Director since: 2020. Awards & Recognition. The firm is based in New York and manages funds with over $9 billion of . Crestview Partners, the New York private equity firm that backs Hornblower, is "excited about our investment in Hornblower and confident in its future," a representative said via email. The company has entered into an agreement whereby Crestview Partners will acquire a substantial ownership stake in Hornblower, with management retaining the balance. Hornblower Group ("Hornblower"), a portfolio company of Crestview Partners ("Crestview"), announced today it has closed on the acquisition of Journey Beyond. | We are Hornblower Group, a global leader in world-class experiences and transportation. The operator of the NYC Ferry system for commuters and tourists could find itself running out of time and money after Covid-19 disrupted its business during the warmest months of the year. Hornblower Holdings LP: Street Address 1 Street Address 2; C/O CRESTVIEW PARTNERS: 590 MADISON AVENUE, 42ND FLOOR: City State/Province/Country ZIP/PostalCode Phone Number of Issuer; NEW YORK: NEW YORK: 10022: 212-906-0700: 3. Hornblower Group | 4,473 followers on LinkedIn. Global Credit Research - 28 Jul 2020. After investors received word of the financing on Tuesday, Hornblower Group's $675 million first-lien loan due 2025 was quoted around 71 cents on the dollar, down from the mid 80s earlier in the . New York, July 28, 2020 -- Moody's Investors Service, ("Moody's") downgraded Hornblower Sub, LLC's ("Hornblower") Corporate Family Rating to Caa2 from B3 . Crestview Partners took over Hornblower in a leveraged buyout in 2018. Hornblower Holdings, ICM Partners, Industrial Media and WOW!. Hornblower Group is the largest private passenger ferry . About Crestview Partners Founded in 2004, Crestview is a value-oriented private equity firm focused on the middle market. NEW YORK, Dec 8, 2020 /PRNewswire/ -- Crestview Partners ("Crestview"), a leading value-oriented private equity firm focused on the middle market, announced today the . Matt Siegel. Rob Williams joined Hornblower Group as the CFO in July 2018, shortly after it was acquired by Crestview Partners. About Crestview Partners Founded in 2004, Crestview is a value-oriented private equity firm focused on the middle market. Brian is currently a member of the boards of directors of Camping World Holdings, Congruex Holdings, Framestore/Company 3, Hornblower Holdings, ICM Partners, Industrial Media, Viad and WOW!. T: 212-393-4422 E: mp@pco.com. Global Seaborne Coal Trade Up Neary 6% in 2021; SMS Group investment pays off with "Record Breaking" 2021; The brand heritage of our organization dates back nearly 100 years, with the . They invested in Hornblower in 2018. Dec. 8, 2020, 07:00 AM. By. Hornblower Cruises and Events. By Claire Boston and Katherine Doherty (Bloomberg) - Cash-strapped operator of the NYC Ferry system has put together $ 90 million in funding to help keep its tourist boats and commuter lines running in pledging some of its Niagara Falls assets to creditors. Chris Witkowsky. Crestview targets opportunities across a broad range of industries, with a special interest in asset management, media, healthcare and financial service companies. He is a Partner of the firm and a member of the Investment Committee, serving as head of Crestview's media strategy. Hornblower Group in its senior secured credit facilities; TaylorMade in its asset-based credit facility; . After financiers obtained word of the funding on Tuesday, Hornblower Group's $675 million first-lien finance due 2025 was priced quote around 71 cents on the buck, below the mid 80s earlier in the week, individuals stated. Prior to that, Kevin served as the CEO of NEP Group from January 2012 through June 2020. NEW YORK, Dec 8, 2020 /PRNewswire/ -- Crestview Partners ("Crestview"), . Related Resources LOAD MORE SHOW LESS View More. Prior to joining NEP, Kevin was the CEO of 3 Day Blinds, a manufacturer and . This is Crestview Partners' 2nd transaction in California. As a result of the acquisition, Journey Beyond will join Hornblower's portfolio of travel experience companies and have a presence in 111 countries and territories worldwide. Associate at Crestview Partners Philadelphia, PA. Alex Rose . Introducing the brand-new City Experiences anchored by Hornblower. Moody's notes recent sponsor support in the form of a guarantee by its private equity owner -- Crestview Partners -- on a new $45 million revolver (fully drawn). Dec. 8, 2020, 07:00 AM. Crestview has contributed equity to the company in recent years, including its acquisition of Entertainment Cruises in 2019, and in May when it provided $45 million in revolving credit, Moody's said. He is also a member of the Investment Committee and head of the media str. Crestview Partners | 1.893 Follower:innen auf LinkedIn Founded in 2004, Crestview is a value-oriented private equity firm focused on the middle market. June 2008 to May 2012. . There are two companies that make up the corporate entity of Hornblower Group - American Queen Voyages and City Experiences. NEW YORK, Dec 8, 2020 /PRNewswire/ -- Crestview Partners ("Crestview"), a leading value-oriented private equity firm focused on the middle market, announced today the . Rabbitt serves as a Board Director on behalf of Crestview for investments at Congruex Networks, Viad Corp and Framestore/Company 3. last news. SVP - Strategic Growth & Development. He has worked across a variety of sectors, including media and financial services. Newest; Filter; Local; Hornblower Holdings LP. Hornblower runs the NYC Ferry system under an agreement with the EDC made in 2016 - operations that are profitable only because of city subsidies that average $10.73 . Join to Connect . Founded in 2004, Crestview is a value . Crestview Partners, Senior Advisor Hornblower Cruises, Board of Directors NEP Broadcasting, Board of Directors New Heights Youth, Chairman of the Board. . Crestview Partners promoted two long-time dealmakers, Brian Cassidy and Alex Rose, into the co-president roles, effective Jan. 1. Hornblower acquired BHC from members of the Nolan family in 2019, and installed . Vice President, Strategic Projects at Hornblower Group New York, New York, United States 500+ connections. Congratulations to the entire Hornblower Group, City . 25+ Years. They invested in Hornblower in 2018. Last Name First Name Middle Name; Williams: Crestview Partners took over Hornblower in a leveraged buyout in 2018. Book a tour today. Miami/Fort Lauderdale Area . Hornblower's boats paused operations in March, and although its commuter lines along the East River are Photo: New York Ferry. After investors received word of the financing on Tuesday, Hornblower Group's $675 million first-lien loan due 2025 was quoted around 71 cents on the dollar, down from the mid 80s earlier in the week, the people said. Kevin Rabbitt is an operating executive at Crestview and currently serves as CEO of Hornblower Holdings, a leading North American provider of water-based dining, sightseeing, private charter and transportation services. . Date Filing . Prior to that, Mr. Rabbitt served as the CEO of NEP Group from January 2012 through June 2020. In addition to his role at Hornblower, Rabbitt serves as Operating Executive in the media portfolio for Crestview Partners. Hornblower's cash balances are sufficient to absorb negative cash flow over the normally slow winter months until operations resume in full in April 2022. NEP Group CEO Kevin Rabbitt will leave the company on June 30 after eight years at the helm when he sets sail, almost literally, to become CEO of Hornblower Group which operates cruises and other . Patrick LaValley joined Crestview in 2019 and currently serves as a principal. Hornblower Group, the parent company of American Queen Voyages, Victory Cruise Lines and a number of day-cruise companies, has been owned by New York-based private equity firm Crestview Partners . The firm is led by a group of partners who have complementary experience and distinguished backgrounds in private equity, finance, operations and . Brian Cassidy joined Crestview in 2004 and is co-president and a partner. Caspian is noted to be a company that specializes in investment in troubled companies. May 2012 to March 2013. ategy. Filings. FormDs.com . Jun 02, 2022. Vice President, Strategic Projects at Hornblower Group New York, New York, United States 500+ connections. After investors received word of the financing on Tuesday, Hornblower Group's $675 million first-lien loan due 2025 was quoted around 71 cents on the dollar, down from the mid 80s earlier in the . Sean O'Neill. On January 1, 2018, private equity firm Crestview Partners acquired leisure company Hornblower Group. Mr. Cassidy is currently a board director of Camping World Holdings, Congruex Holdings, Framestore/Company 3, Hornblower Holdings, ICM Partners, Industrial Media, Viad Corp and WOW!.
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