Hurtigruten Expeditions (HX) and its sister company Hurtigruten have secured new investment funding, completing a separation process that began this fall. The move aims to accelerate growth, innovation and sustainable practices for HX and Hurtigruten. Both deals are expected to close in January 2025.
The deals are pivotal in reducing Hurtigruten Group’s debt by more than 1 billion euros. The separation marks the start of a new chapter for both companies as they focus on independent growth strategies.
New Chapter for Hurtigruten Group
HX announced that it had been acquired by a consortium led by Arini Capital Management and Cyrus Capital Partners. The deal includes 140 million euros in new funding, which will be used to expand its product offerings, invest in its fleet and explore greener innovations. Chief Executive Gebhard Rainer will continue to lead HX from its new headquarters in London.
“During our 128-year history, we have taken guests on voyages to more than 250 destinations in 30 countries, creating life-changing moments that alter the way our guests view the world,” said Rainer, in a press statement. “Today’s announcement allows us to enhance our offerings, focus on greener innovation and explore new destinations globally.”
Simultaneously, Hurtigruten secured 110 million euros in long-term funding from an investor group including Arini Capital Management, AlbaCore Capital and Barings. This financial boost will support the company’s growth strategy leading up to 2026. Chief Executive Hedda Felin emphasized the milestone’s importance, saying, “This transaction allows us to deliver our long-term goals, enable sustainable growth and enhance our customer experience.”
HX aims to strengthen its market share in the growing adventure travel sector. Investors are optimistic about the potential for continued expansion. “HX has a long history and a proven track record of innovation,” said Torben Geisler of Arini Capital Management. “We are committed to accelerating its success and supporting its mission to deliver unique travel experiences.”
Hurtigruten, meanwhile, remains focused on its core operations, leveraging new funding to enhance customer experiences and prioritize sustainability. Both companies reaffirmed their commitment to delivering unparalleled travel experiences while fostering innovation and environmental stewardship.
The announcements reflect the growing demand for unique, sustainable travel experiences as both companies prepare for a future under new ownership and leadership.
