Hurtigruten Expeditions Holdings Ltd has completed its acquisition by a consortium of investors, marking the final stage of the separation of HX from Hurtigruten Group AS (together with its subsidiaries, “HRN”). The split includes approximately EUR 140 million of new junior funding for HX to support new growth and destination opportunities.
The investment by the Consortium – led by Arini Capital Management, Cyprus Capital Partners and Tresidor Investment Management – is pivotal to HX’s next phase of growth and innovation. The Company now has the resources to support the development of the business, allowing the Company to continue its investment in a fleet of industry-leading ships, while delivering the very best expedition cruises for its guests.
The Company will continue to be led by Gebhard Rainer as Chief Executive Officer, who is based in HX’s new headquarters in London.
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Rainer said “Today’s announcement is an important day in HX’s history as we continue our journey as a standalone company with the resources and strategic support to deliver on our next phase of growth and innovation, which will benefit our employees, guests and strategic partners.
“We look forward to exploring new growth opportunities around the globe and enhancing our industry-leading customer offering and creating the very best in mindful travel experiences.”
Following the strategic changes implemented during 2024, growth continues to accelerate with 2025 bookings 14% higher year-over-year and 2026 bookings growing over 25% year-over-year on a constant fleet basis.
HX confirmed that both MS Fram and MS Spitsbergen will receive material upgrades to cabins, suites, science centres and restaurant areas onboard in Q2 2025, further enhancing the guest experiences on some of our the brand’s most popular vessels.
James McArthur, Chief Financial Officer at HX, who has led the investment process for both HX and HRN said he was delighted to see HX emerge as a “reinvigorated, standalone and well-capitalised business.”
“I’d like to thank our new ownership group for their support and commitment to our plan thus far. I would also like to acknowledge the ongoing hard work of our dedicated HX teams around the globe, who are focused on providing the very best for our guests.”
Hurtigruten Expeditions Holdings Ltd also noted that the transaction announcement will not affect HX customer bookings, employment terms, business partners or day-to-day operations.
