Investment Consortium Acquires HX

In a move that will see HX (formerly Hurtigruten Expeditions) completely separated from Hurtigruten, a consortium of investors (the Consortium) led by Arini Capital Management and Cyrus Capital Partners has purchased the expedition cruise line. As part of the purchase agreement, the Consortium will provide EUR 140 million to support new growth opportunities.

Gebhard Rainer will stay on as CEO and will be based in the company’s new headquarters in London.

“Today’s announcement will allow HX to further enhance our offerings to our guests, boost our focus on greener innovation and explore new destinations around the globe,” he said.

The acquisition will have no practical implications for HX clients, business partners – including travel advisors, or daily operations.

“Today’s announcement is the start of an exciting new growth phase for HX, a company with a long history and a proven track record of innovation in the expedition cruise market,” said Torben Geisler, who led the Arini investment. “We believe HX is poised to continue to build market share, and the group of investors is committed to providing the backing needed to accelerate its success.”

The purchase transaction is expected to close in January 2025.