HX Expeditions Holding’s acquisition by a consortium of investors has been completed.
This marks the final stage of HX’s separation from Hurtigruten Group (HRN) and includes around €140 mill of new junior funding to help support its growth.
The consortium’s investment – led by Arini Capital Management, Cyrus Capital Partners and Tresidor Investment Management – is pivotal to HX’s next phase of growth and innovation, the company said.
It now has the resources to support business development, allowing HX to continue its investment in a fleet of small expedition cruise ships.
CEO, Gebhard Rainer will continue to lead the company, based at its new London headquarters.
Rainer 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,” he said.
Following the changes implemented last year, growth continues to accelerate with 2025 bookings 14% higher year-on-year and 2026 bookings growing over 25% y-o-y on a constant fleet basis.
HX will continue to invest in the fleet, and both ‘Fram’ and ‘Spitsbergen’ will receive upgrades to cabins, suites, science centres and restaurant areas on board in 2Q25.
James McArthur, HX CFO, (pictured) who led the investment process for both HX and HRN added: “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,” he said.
