Danish offshore wind O&M specialist Ziton has announced that its board of directors has engaged Evercore to act as financial advisor in reviewing strategic alternatives focused on maximizing shareholder value.
Ziton said 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: “Ziton’s excellent track record of 13-plus years and its platform of versatile, modern fleet and experienced vessel and technician crew distinguish the company as the leading provider of turnkey O&M MCR solutions with a about 50% market share.
“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.”
However, the company added that there can be no assurance that the strategic review will result in a transaction.
Ziton said 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 the board of directors and shareholders, or it is otherwise determined that further disclosure is appropriate or required by law.
Kromann Reumert is serving as the company’s legal advisor.