Ziton, which specialises in O&M services and in main component replacement, has appointed Evercore as a financial advisor to review strategic alternatives in order to maximize shareholder value
These alternatives include, among other things, a corporate sale, a business combination or a partnership, while continuing to develop other growth opportunities.
Ziton chief executive Thorsten Jalk said that, with the acceleration of the energy transition, the company’s board of directors and key shareholder BWB Partners II K/S are excited about the future prospects for the company.
“Ziton’s track record of more than 13 years and its versatile, modern fleet and experienced technicians distinguish the company as a leading provider of turnkey O&M main component replacement solutions with a 50 per cent market share,” Mr Jalk said.
“We are dedicated to delivering excellent service to our customers throughout our multi-year, long-term time charters and framework agreements. We will continue to focus on growth opportunities by leveraging our scalable services platform. Ziton is well-positioned to unlock accelerated growth in Europe and beyond.”
The company said there can be no assurance that the strategic review will result in any transaction. It has not set a timetable for completion of the process and it does not intend to comment further unless a specific transaction is approved by its board of directors and shareholders, or it is otherwise determined that further disclosure is appropriate or required by law.
In addition to Evercore acting as financial advisor to Ziton, Kromann Reumert is serving as the company’s legal advisor.
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