H.I.G. WhiteHorse, the credit affiliate of HIG Capital, has provided first-lien, senior-secured financing to back the acquisition of Viabus B.V. by German investment firm Armira, in a deal that underlines sustained private capital interest in Europe’s senior leisure travel market.

Announced Feb. 25, 2026, the transaction gives Armira a controlling stake in Viabus, the Netherlands’ largest provider of guided coach tours for senior travelers. Financial terms were not disclosed.

Viabus and the business of coach travel for seniors

Viabus is a tour operator that designs and sells packaged coach journeys, as well as plane and cruise trips, for what the company calls young-senior and senior travelers. Destinations span Europe and beyond, with tours offered at varying lengths to suit different travel appetites. Operating through five consumer-facing brands — Bolderman, Effeweg, Destimundo, Diogenes Groups & Incentive Travel, and Van Nood Reizen — the company has built a broad identity within a single market niche.

Within the Netherlands, Viabus holds the top position in guided senior coach travel by market share. The company runs what investors typically describe as an asset-light model: rather than owning coaches or aircraft outright, it focuses on itinerary design, customer relationships, and brand management, outsourcing the capital-intensive transport infrastructure. That structure limits the balance sheet burden while keeping margins tied to volume and yield on tour packages.

Pascal Meysson, who heads H.I.G. WhiteHorse Europe, cited the company’s brand recognition, customer loyalty, and asset-light operating model as core factors behind the decision to participate in the deal. He said WhiteHorse was pleased to support Armira through the acquisition and the company’s growth plans under new ownership.

Armira’s approach and HIG Capital’s role in the deal

Armira, the Munich-based firm buying Viabus, focuses on entrepreneur-led and family-backed businesses. Backed by entrepreneurs, entrepreneurial families, and long-term institutional investors, Armira manages more than $5.8 billion (approximately €5 billion) in assets. The firm structures investments ranging from minority growth stakes to majority positions and has completed over 30 platform investments, supported by a network of more than 100 industry advisors.

H.I.G. WhiteHorse’s role as debt provider fits a pattern the platform has established in recent quarters: supplying structured credit facilities to European acquisitions involving sponsor-backed or founder-aligned buyers who require flexible, bespoke financing rather than syndicated bank debt. Earlier this month, WhiteHorse arranged a €120 million package for French pet food group Nasta Petfood to fund its purchase of Canadian manufacturer FirstMate Pet Foods — another founder-owned business pursuing cross-border expansion without a traditional buyout sponsor.

WhiteHorse also recently provided a first-lien facility to Büter Group, a Dutch manufacturer of hydraulic cylinders owned by NPM Capital. Taken together, the deals reflect the platform’s intent to build deal flow across multiple European industries, pairing lender flexibility with the operational knowledge that HIG Capital has accumulated across hundreds of portfolio companies.

HIG Capital: From 1993 Founding to a $74 Billion Global Platform

HIG Capital was founded in 1993 by Sami Mnaymneh, Founder, Executive Chairman and CEO, and Tony Tamer, Founder and Executive Chairman. The Miami-based firm now manages $74 billion in capital across private equity, direct lending, real estate, infrastructure, and special situations strategies, with more than 500 investment professionals and offices across North America, Europe, the Middle East, and Asia.

HIG has invested in and managed more than 400 companies globally over its three decades in operation. Its current portfolio exceeds 100 businesses, generating combined annual revenues above $53 billion. H.I.G. WhiteHorse, the direct lending unit, operates with approximately 85 credit professionals across the U.S. and Europe and has deployed roughly $18 billion in American direct lending transactions. The European arm has been growing steadily, with the Viabus deal adding a consumer travel name to a book that has included industrial manufacturers, flexible packaging companies, and food and nutrition businesses.

Senior travel as a category carries demographic tailwinds that tend to attract credit investors. Europe’s over-60 population continues to grow, and that cohort accounts for a disproportionate share of leisure spending on organized tours. Coach travel in particular has maintained a loyal following among older travelers who prefer guided itineraries and door-to-door convenience over independent booking. For a lender evaluating cash flow predictability, a market leader with repeat customers and five recognized consumer brands offers a comparative

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