Hurtigruten has been acquired by a consortium of investors and has received approximately €110 million in new long-term funding. This new structure provides a solid foundation for Hurtigruten's future growth and continued development as Norway's leading coastal cruise company. The closing of this transaction will mark the completion of the separation process between Hurtigruten and HX (Hurtigruten Expeditions).
Hedda Felin, CEO of Hurtigruten, commented: “This is a significant milestone for Hurtigruten. The transaction allows us to continue pursuing our long-term goals, enable sustainable growth, and enhance the customer experience. We look forward to working with the new group of investors.”
Under new ownership, which includes existing investors led by Arini Capital Management, AlbaCore Capital, and Barings, Hurtigruten will continue to offer the best guest experience on the Norwegian coast, also known as “the most beautiful sea voyage in the world.” With over 130 years of experience transporting cargo, local passengers, and tourists, no other company knows the unique coastline like Hurtigruten and its nearly 2,000 employees on land and at sea.
Hurtigruten is experiencing strong demand for its products, with a 24% increase in bookings for 2025 compared to the previous year (as of November 24, 2024), and this trend is expected to continue accelerating in 2026.
Torben Geisler, who led Arini's investment, said on behalf of the Consortium: “Hurtigruten is a strong, storied brand that has established itself over more than a century as a world-class operator. Our group of investors looks forward to supporting Hurtigruten's management team and employees to help the company reach its full potential, while continuing to deliver exceptional travel experiences to its customers.”
The transaction will significantly reduce the outstanding debt of the company and its parent group by more than 1 billion euros, leaving a remaining debt of approximately 400 million euros, and extending maturities until at least 2030.
Hurtigruten will continue as an independent company, based in Oslo, Norway, and will continue to own and operate its 10 ships under the Norwegian flag.
The company will also continue to benefit from the leadership of Hedda Felin and her highly qualified team, which was recently strengthened with the appointment of Per-Hermod Rasmussen as the new Chief Financial Officer. Mr. Rasmussen will assume his role on December 1 and will play a central role in the company's financial strategy, bringing valuable experience to Hurtigruten.
The change in ownership will have no practical implications for Hurtigruten's customer offerings, business partners, or day-to-day operations. The transaction is expected to close in January 2025.
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