Limestone Capital AG Invests in Nokken to Fuel Modular Hospitality Expansion

Limestone Capital, a leading experience economy private equity firm headquartered in Switzerland, has acquired a stakeholding of just over 30% in Nokken, a UK-headquartered provider of design-led modular cabins. The partnership aims to accelerate Nokken’s international expansion, supporting growth across Europe, the UK, United States, and new market entries in Asia and Australasia.

“This is a significant milestone in Nokken’s journey and confirmation of where we believe the hospitality market is heading,” said Nathan Aylott, Co-Founder of Nokken. The investment reinforces Limestone’s commitment to innovative, sustainable hospitality ventures, with the firm managing over €1 billion in assets under management across lifestyle and hospitality platforms including Aethos Hotels, Emerald Stay, Loisium Wine & Spa Hotels, and Voaara.

Nokken has positioned itself as more than just a designer and manufacturer of modular cabins, pioneering a new category in retreat hospitality. While traditional hotel sectors focus on high-cost urban developments, Nokken drives a shift toward agile, nature-immersive stays similar to progressive brands like Autocamp or Marriott’s acquisition of Postcard Cabins. This “retreat” model offers faster deployment, lower costs, and greater guest appeal by creating scalable experiences in unique locations such as forests, mountains, and coastlines.

“Nokken represents a unique intersection of beautiful design, functionality, and emotional resonance,” said Grazi Painelli, Managing Director and Head of Acquisitions at Limestone Capital. “They are redefining how we experience the natural world, and their scalable model aligns perfectly with our vision for the future of hospitality.” The company’s low-footprint modular designs minimize land disturbance, use responsible materials, and avoid heavy infrastructure demands of conventional builds.

The investment will be used primarily to enter strategic partnerships with landowners and operators, acquire key components of Nokken’s supply chain, and expand sales and marketing capacity. “Limestone Capital is a great strategic alignment for Nokken,” said Craig McDonald, CEO of the Nokken Group. “The partnership with Limestone allows us to focus on bringing our products to some of the best destinations in the world and ensuring end customers can experience nature in new, meaningful ways. Their hospitality expertise and operational excellence will be instrumental as we scale.”

As sustainability becomes a defining driver of modern travel, Nokken’s model offers exceptional stays with minimal environmental impact, making hospitality viable in sensitive or remote locations while meeting climate-conscious traveler expectations. “We’ve always believed that great design isn’t just about aesthetics, it’s about impact,” added James Van Tromp, Co-Founder and Chief Product Officer. “This partnership gives us the platform to bring Nokken’s vision to a global stage, where architecture, nature, and emotion meet in powerful, purposeful ways.”

The partnership represents more than just financial backing, emphasizing shared values around sustainable, experience-rich hospitality. “This is more than capital – it’s a partnership grounded in shared values,” concluded Painelli. “Nokken delivers meaningful, nature-based experiences without compromising on design or environmental responsibility.” With Limestone’s backing, Nokken is positioned to lead the sustainable retreat sector and set new benchmarks for responsible hospitality that combines operational efficiency with environmental stewardship.

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