Expedition cruise line HX has been acquired by a group of investors.
The acquisition, by a consortium led by Arini Capital Management and Cyrus Capital Partners, includes €140m of funding to support new growth opportunities and is the final stage in the separation of HX from sister company Hurtigruten.
HX said the acquisition won’t affect daily operations and key management will remain in place.
Chief Executive Officer Gebhard Rainer said: “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. 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.”
Chief Financial Officer James McArthur said: “Today marks a monumental day for HX. HX has an exciting future ahead and I look forward to seeing what this fantastic business can achieve over the next few years.”
Torben Geisler, who led the Arini investment, said: “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. 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 acquisition is expected to be completed in January 2025.
