NYC Ferry operator Hornblower acquired by private equity firm after bankruptcy filing

Hornblower Group, the cruise operator that operates the NYC Ferry system, has been acquired by a private equity firm after filing for bankruptcy — though the city says this will not impact ferry service.

The San Francisco-based company said Wednesday that the private equity firm Strategic Value Partners (SVP) would acquire a majority stake in the firm, injecting $121 million in financing to Hornblower coffers and reducing its overall debt load by $720 million.