Munich-based travel technology company Flix SE has announced that EQT Group and Kühne Holding have acquired a 35% minority stake in the firm for approximately €1 billion. This investment values Flix at over €3 billion, as reported by Bloomberg.
As part of this strategic move, shares will also be purchased from existing shareholders to establish a long-term anchor holding in Flix. The transaction is pending customary conditions and regulatory approvals before its completion.
André Schwämmlein, CEO and Co-Founder of Flix, expressed enthusiasm about the partnership: “We are delighted to welcome EQT Future and Kühne Holding as strong and purpose-driven investors with proven track records of building upon sustainable long-term investment strategies. Their capital and know-how will be a strong asset to our company’s overall strategic vision. We couldn’t ask for better partners to embark on the next chapter of Flix’s journey.”
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Financial Performance and Expansion
The investment comes as Flix experiences significant growth and strategic expansion. In 2023, the company achieved a 30% increase in total revenue, reaching €2 billion for the first time, and recorded an adjusted EBITDA of €104 million. This growth allows Flix to focus on expanding its global footprint, revolutionizing the North American bus market, and scaling FlixTrain to meet the increasing demand for alternative rail services in Germany.
To further strengthen its geographical presence, Flix has recently entered key bus markets in Chile and India. The company’s global footprint now spans 43 countries worldwide. Additionally, FlixBus is significantly expanding its services in the UK, Portugal, and Ukraine, and has launched in Norway and Finland.
Insight from Investors
Kühne Holding AG, based in Switzerland, focuses on investments in the logistics and transport sector. Dominik de Daniel, CEO of Kühne Holding AG, commented: “Flix is driving the next generation of collective transport. The Kühne Holding is proud to actively support them as a strategic partner in their next phase of expansion.”
Karl Gernandt, Chairman of Kühne Holding AG, added: “As one of the largest strategic investors in the transport and mobility sector, the Kühne Holding is now taking a further step into the market for collective transport by bus. With Flix’s proven asset-light operating model, we see great synergies with our other investments in the transport sector.”
EQT, a purpose-driven global investment organization with €242 billion in total assets under management, supports companies in achieving sustainable growth. Andreas Aschenbrenner, Founding Partner and Deputy Head of the EQT Future advisory team, stated: “EQT Future backs high-quality, growing companies that have the potential to be sustainability leaders in their fields. Flix is the perfect example of this.”
With this significant investment, Flix is set to enhance its services and expand its market reach, solidifying its position as a leader in the global travel tech industry.
