Uniting forces, Transforming outcomes
Arknight is an affiliate of The White Knight Fund that specialises in strategic financing, restructuring, reorganisation, and recapitalisation, operating from Hong Kong, Perth and Sydney. We are committed to transforming companies into thriving enterprises through expert guidance, tailored strategies, and unwavering support.
What we do
Arknight leverages deep multi-jurisdictional expertise across financial restructuring, capital markets, and business transformation to deliver innovative solutions and consistently outstanding results.
Our global team provides a comprehensive suite of services, including:
- Financial and Operational Restructuring
- Change Management and Post-Transaction Integration
- Change of Control Facilitation
- Workout and Informal Restructuring Solutions
- Strategic Support in Complex or Unfamiliar Situations
- M&A Transaction Advisory
- Director and Governance Services
How we do it
Working as ‘one’ global team to deliver superior outcomes
Financial & Operational Restructuring
Delivering expert support to boards in navigating complex restructuring needs and driving sustainable performance improvements.
Change of Control Facilitation
Providing strategic support and leadership during ownership transitions to safeguard value and ensure smooth transitions.
Support in Unfamiliar Cicrumstances
Delivering protection and expert guidance to organisations facing uncertain or complex situations.
Change Management & Integration
Guiding organisations through transformative changes and ensuring seamless integration of new processes or structures.
Workout & Informal Restructuring
Offering practical, tailored solutions to address financial challenges without formal insolvency processes.
Director Services
Providing experienced directors to strengthen governance and support effective decision-making during critical periods.
Why Choose Us
Global Expertise, Local Insight
With a team experienced across multiple jurisdictions, Arknight combines international best practices with deep local market understanding to deliver tailored solutions.
Proven Track Record in Transformation
Our history of successful engagements in diverse sectors showcases our ability to navigate complex financial landscapes and drive meaningful change.
Integrated Strategic Approach
We offer comprehensive services - from financial restructuring to change management - ensuring cohesive strategies that align with your organizational goals.
Commitment to Sustainable Outcomes
Arknight is dedicated to delivering long-term value, focusing on sustainable performance improvements and resilient organizational structures.
join the success
These are just a few of our successful clients
Director Services
Background
- Rod Sutton & Mel Ashton of Arknight were appointed to the board of directors for the Australian and UK holding companies of one of the world’s largest wine businesses, headquartered in South Australia. Accolade Wines, which owns brands such as Hardy’s, Grant Burge, and Petaluma, sells in over 80 countries but faced challenges from declining global wine consumption and Chinese tariffs of up to 176% on Australian wine. The company is navigating financial pressures with $572 million in debt due in 2025 and a $150 million revolving credit facility maturing this year.
Strategy
- Arknight are assisting in the implementation of a Change of Control (CoC) while ensuring board and executive protection from financial and legal risks. Providing strategic guidance on resolving key conditions for the CoC and advancing synergetic M&A opportunities.
Results
- Arknight successfully executed the Change of Control (CoC) and was retained on the board by new stakeholders, providing ongoing support during the transition and strategic guidance on managing complex legacy contracts.
Change of Control
Background
- As the world’s largest seaplane operator with a fleet of 56+ aircraft transporting tourists across the Maldives, TMA faced a crisis when COVID-19 grounded all flights and closed borders, leaving it unable to service its ~$312 million senior debt. As a Bain investment requiring recapitalisation, Rod Sutton of Arknight was appointed to the board to help stabilise operations and support management through the financial restructuring.
Strategy
- As a board member, Arknight led efforts to stabilise the airline during the COVID-19 crisis, managing stakeholders and ensuring operational continuity. Advised on strategy during border closures and reopening, secured DIP financing to sustain operations, implemented cost-saving and revenue-boosting initiatives, and initiated an M&A sale process that attracted strong interest from private equity and distressed funds.
Results
- Arknight led the consensual restructuring of TMA’s $312 million debt, successfully restructuring senior and mezzanine facilities to ensure operational continuity and future growth. Further, Arknight supported the business through COVID-19 and facilitated the transition of ownership from Bain to Carlyle.
Workout & Restructuring
Background
- Donaco (ASX:DNA), an Asia-Pacific leisure and entertainment operator, faced severe financial challenges when COVID-19 border closures drastically reduced cross-border casino patronage. Rod Sutton & Mel Ashton of Arknight were appointed to the Board to stabilise management, restructure finances, and assist in capital raising to ensure business continuity.
Strategy
- Arknight led efforts to protect Donaco during the COVID-19 crisis by enhancing its financial position, refinancing a major secured facility, restoring its capital base, and developing a strategic post-pandemic business plan.
Results
- Arknight implemented new management and a new board, developed a cost-minimisation strategy to sustain operations during COVID-19, and secured $14 million in capital to ensure liquidity. Entertainment facilities were placed on care and maintenance while a business plan positioned the company for a swift restart post-pandemic. With successful cost-cutting and refinancing, Donaco now operates on a cash flow-positive basis and is pursuing expansion opportunities across the Asia-Pacific region.
Change of Control
Background
- The RFDS, operating 19 aircraft and covering 9 million km annually for 8,000 emergency medical retrievals in WA, faced leadership and operational challenges, prompting the Board to remove the CEO and appoint Mel Ashton of Arknight as interim CEO to address dysfunctional management, siloed divisions, poor leadership, stakeholder disengagement, inaccurate reporting, and key staff losses.
Strategy
- The interim CEO focused on stabilising the RFDS by improving financial reporting, re-engaging stakeholders, driving cultural change, and reinforcing its role in WA healthcare, while also securing the delivery of a new PC-24 jet, visiting remote bases, strengthening government and philanthropic relationships, and preparing for long-term leadership recruitment.
Results
- After six months, RFDS operations stabilized, strategic initiatives progressed, the first re-purposed Pilatus PC-24 jet was delivered, and a new CEO was successfully appointed.
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