Acquisition of HX Expeditions completes

LONDON – Hurtigruten Expeditions Holdings Ltd announces the completion of its acquisition by a consortium of investors. It marks the final stage of the separation of HX from Hurtigruten Group AS (together with its subsidiaries, “HRN”) and includes approximately 140 million euros 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 benefit from the experience and leadership of Chief Executive Officer Gebhard Rainer, who is based in the Company’s new headquarters in London.

Gebhard Rainer, CEO of HX, 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. 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.

Chief Financial Officer, HX.

James McArthur, Chief Financial Officer at HX, who has led the investment process for both HX and HRN said, “I am delighted that HX has 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. 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.

HX (Hurtigruten Expeditions), the world’s leading expedition cruise company, has been guiding curious travelers on mindful adventures since 1896. With headquarters in London and a global team of just under 1,000 professionals, HX operates a fleet of five modern ships, offering voyages to over 250 destinations across more than 30 countries.

Renowned for its pole-to-pole expeditions, HX combines sustainability, science, and education to create transformative travel experiences. Pioneering in sustainability, HX was the first cruise company to eliminate heavy fuel oils, ban single-use unnecessary plastics in its operations, and launch hybrid cruise ships. The company also supports scientific research, donating over 1,900 free cruise nights (in 2024) to onboard scientists, and runs the HX Foundation, providing grants to community projects focused on education and marine conservation.

The article Acquisition of HX Expeditions completes first appeared in TravelDailyNews International.