Hurtigruten has stepped in with an investment in the Kleven yard group, which is building two expedition ships, with options for two more, for the Norwegian brand.

According to Hurtigruten, the company is part of an investment group that is putting NOK 300 million into Kleven for a 40 percent interest.

In addition to Hurtigruten, through Strawberry Equity and TDR, the group includes Åge Remøy, the Kleven-family companies John Kleven AS and H-Invest AS, the German family-owned yacht yard Lürssen Group and investor Per Lillebø.

Without the new infusion of fresh capital, Kleven warned previously that it may be forced to declare bankruptcy.

“We are joining forces for the continued development and evolution of the yard’s expertise, to secure jobs and to grow the company to build ships of the future,” said Daniel Skjeldam, CEO of Hurtigruten, in a prepared statement.

Related: Kleven Hit By Non-Paying Customer and Downturn in Offshore