Hurtigruten Expeditions Holdings (HX) has officially completed its acquisition by a consortium of investors, marking its separation from Hurtigruten Group AS (HRN) – and a major milestone for the company.
The deal, led by Arini Capital Management, Cyrus Capital Partners and Tresidor Investment Management, includes EUR140 million (around AU$230 million) in new funding to drive growth and fleet upgrades.
CEO Gebhard Rainer will continue leading HX from its new London headquarters.
“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,” he said.
“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.”
According to Rainer, HX has seen a surge in bookings.
“Following the strategic changes implemented during 2024, growth continues to accelerate with 2025 bookings 14 per cent higher year-over-year and 2026 bookings growing over 25 per cent year-over-year on a constant fleet basis,” he stated.
“We will continue to invest in the HX fleet, and we are pleased to confirm both MS Fram and MS Spitsbergen will receive material upgrades to cabins, suites, science centres and restaurant areas onboard in Q2 2025.
“This will further enhance our guests’ experiences on what are some of our most popular vessels.”
HX Chief Financial Officer James McArthur said the company had “emerged 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,” said McArthur, who led the investment process for HX and HRN said.
“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.
“Today’s transaction announcement will not affect HX customer bookings, employment terms, business partners or day-to-day operations.”
Hurtigruten Group announced its sale to a consortium of existing investors for €500 million (around AU$810 million) – and its split into two companies – in November 2024.
