By
Alex Smith |
Expedition cruise line HX has been acquired by a consortium of investors in a deal which will provide €140 million of funding to support new growth opportunities.
The investment by the consortium, which is led by Arini Capital Management and Cyrus Capital Partners, will facilitate the final stage in the separation of HX from its sister company Hurtigruten, both of which were previously part of the Hurtigruten Group. The line will continue to be led by CEO Gebhard Rainer 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, and created amazing life-changing moments that alter the way our guests view the world,” said Rainer. “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.”
Gebhard Reiner will continue to lead HX as CEO following the acquisition
According to HX, the acquisition “will not have any practical implications for HX customer offering, business partners or daily operations.” However, the company plans to use its additional resourced to expand its offerings and investment in its fleet.
“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 Arini Capital Management investment on behalf of the consortium. “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 transaction is expected to close in January 2025.