Top management take control at Ardent

Top management take control at Ardent

A partial management buy-out at salvage giant Ardent sees top management take a significant shareholding from co-owners Svitzer and Crowley.

Ardent was created four years ago and is one of the largest salvage and offshore decommissioning companies in the world.

The financial terms of the deal, which was assisted by alternative direct lender Aurelius Finance Company, have not been disclosed and closing is subject to approval by the German anti-trust authorities.

Ardent’s CEO, Peter Pietka, will continue to lead the company with the same team, assets and growth plan.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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