Renewing market-leading brands
Hurtigruten is a Norwegian national treasure. It has been connecting towns along the Norwegian coast since 1893 and today it is one of Norway’s leading transport and tourism companies.
Hurtigruten is one of Norway’s leading transport and tourism companies, offering authentic, year-round travel experiences along the Norwegian coast and beyond.
Originally established by the government as a means of linking the south of the country to the inaccessible parts of the north, the earliest ships transported cargo and local passengers between ports.
Today, Hurtigruten leverages this vessel schedule and infrastructure to offer cruises to an international customer base along the Norwegian Coast. It also offers Arctic and Antarctic expedition cruises, and trips with Spitsbergen Travel, the largest tour operator on the island of Spitsbergen.
We had been actively reviewing opportunities in the Scandinavian leisure space for many years and, as part of this initiative, began following Hurtigruten in 2011. We spent a significant amount of time building our understanding of the business and the wider market, as well as fostering relationships with the management team.
Our discussions over time culminated in us, alongside our partners Periscopus AS and Home Capital AS, taking the business private in December 2014.
Date of investment: December 2014
Deal type: Public-to-private