Danish owner Ziton has struck a deal securing its long-term financial future after defaulting on bonds earlier this year.
The company, which owns four wind turbine maintenance ships, now says it has a viable capital structure following its takeover by massive London-headquartered fund Permira.
Lenders and largest shareholder BWB Partners, which owned 57%, have agreed a transaction that will push out bond maturity by two years, boosting equity by €37m ($39m) and liquidity by €13.2m.
