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Investor group set to acquire HX
Hurtigruten Expeditions (HX) is about to get new owners.
A consortium of investors including Arini Capital Management and Cyrus Capital Partners are set to acquire the expedition cruise brand.
The deal, for an undisclosed sum, is expected to be completed in early 2025.
HX was spun off from the Norwegian Hurtigruten coastal cruising line to create two separate entities.
When the acquisition is complete, HX will get a €140 million war chest to fund growth.
The acquisition will signal another ‘exciting phase’ for HX, the consortium said.
“It will have the resources and strategic support to expand its offerings with adventures to northern and southern Polar expeditions and trips to the Galapagos Islands,” it said.
“The acquisition also allows the company to continue its investment into a fleet of industry-leading ships.”
Current CEO Gebhard Rainer will remain at the helm.
Torben Geisler of Arini Capital Management, said: “This is the start of an exciting new growth phase for HX. We believe HX is poised to continue to build market share, and the group of investors is committed to providing the backing needed.”
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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