Hurtigruten Expeditions, HX, the expedition cruise brand, is set to be acquired by a consortium of investors that includes Arini Capital Management and Cyrus Capital Partners.
The agreement, the amount of which has not been disclosed, will be completed in early 2025.
HX was spun off from the Norwegian coastal cruise company Hurtigruten to create two independent entities. Following the acquisition, HX will receive a €140 million to fuel its growth.
The consortium described the acquisition as the start of an exciting new phase for HX, stating that the company will have the resources and strategic support needed to expand its offerings. This includes polar expeditions to the north and south, as well as trips to the Galapagos Islands.
The company will also continue to invest in an industry-leading fleet of ships.
HX, formerly known as Hurtigruten Expeditions, will continue to be led by its CEO, Gebhard Rainer, who took over in June and will lead HX from its new headquarters in London.
The acquisition will have no practical implications for HX's product offerings, business partnerships, or day-to-day operations
Torben Geislerof Arini Capital Management noted: “This marks the beginning of an exciting new growth phase for HX. We believe HX is well-positioned to continue gaining market share, and the investor group is committed to providing the necessary support.”
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