Lindblad Expeditions Acquires Majority Stake in White Desert to Expand Luxury Antarctic Travel

Expedition:Earth Acquires EXPLORE, Inc.

February 12, 2026

Restaurants & Hospitality

Expedition:Earth, a new Texas-based multi-brand operator, announced a strategic investment to acquire EXPLORE, Inc., a Steamboat Springs, Colorado-based luxury tour operator specializing in custom travel throughout Africa and select global destinations. Providence Investment Partners provided debt and equity financing to support the transaction, which serves as Expedition:Earth's inaugural platform acquisition under its buy-and-build growth strategy to expand capabilities, distribution and technology while preserving EXPLORE's founder-led culture.

Antarctica Capital Affiliate Acquires Midwest Holding Inc.

December 21, 2023

Financial Services

An affiliate of Antarctica Capital has completed the acquisition of Midwest Holding Inc. (NASDAQ: MDWT), a technology-driven life and annuity platform headquartered in Lincoln, Nebraska. Midwest shareholders received $27.00 per share in cash, Midwest was delisted from Nasdaq, and Antarctica says Midwest will become a key component of its retirement services business while retaining current leadership and operations.

Antarctica Capital Acquires Controlling Interest in Descartes Labs

August 4, 2022

Data & Analytics

Affiliates of Antarctica Capital have acquired a controlling interest in Descartes Labs, a provider of AI-driven geospatial intelligence and analytics. Concurrent with the transaction, Antarctica operating partners Richard Davis and Graeme Shaw were named CEO and COO of Descartes Labs as the firm plans to accelerate the company's growth and product innovation across commercial and government end markets.

Lindblad Expeditions Acquires Majority Stakes in DuVine Cycling + Adventure Co. and Off the Beaten Path

March 9, 2021

Restaurants & Hospitality

Lindblad Expeditions Holdings, Inc. acquired majority stakes in DuVine Cycling + Adventure Co. and Off the Beaten Path to broaden its land-based experiential travel platform and capture growth in luxury cycling and U.S. national-park focused active travel. The founders of both companies will retain ownership stakes and continue to lead their businesses while leveraging Lindblad’s scale, marketing and cross-selling capabilities to accelerate growth.

White Mountains Acquires Majority Interest in Ark Insurance Holdings

October 1, 2020

Insurance

White Mountains Insurance Group agreed to invest $605 million of equity (at a $300 million pre-money valuation) and purchase $41 million of shares from existing owners to acquire a majority interest in Ark Insurance Holdings, the parent of Ark Syndicate Management Ltd. The capital raise will give White Mountains ~72% ownership at closing (63% fully diluted), with a commitment to contribute up to an additional $200 million in 2021 to substantially expand Ark's Lloyd's capacity, convert its Bermuda reinsurance entity, and hire underwriting talent.

Blackford Capital Acquires Snowhite Hospitality

March 22, 2017

Professional Services

Blackford Capital, a Grand Rapids-based private equity firm, announced its investment in Addison, Illinois-based Snowhite Textile and Furnishings (Snowhite Hospitality). The transaction (debt financed by West Suburban Bank) brings in industry veteran Greg Kadens as CEO while founder Dick Kapadia remains involved; Blackford intends to grow Snowhite's FF&E design, procurement, and project management capabilities for the hospitality market.