In addition to subscribing to a capital increase, EQT and Kühne Holding will acquire shares from existing investors, thereby establishing a long-term anchor stake in Flix. EQT will invest through EQT Future, its sustainability-focused, long-term fund. Completion of the transaction is currently subject to regulatory approvals.
The investment comes at a time when Flix is experiencing strong growth and is strategically expanding worldwide. The company recorded revenue growth of 30 percent in 2023, reaching annual revenue of €2 billion for the first time. At the same time, the Munich-based company increased its profitability with adjusted EBITDA of €104 million. The company's international expansion is also progressing: It recently expanded its offerings to Chile and India.
André Schwämmlein, CEO and co-founder of Flix, says:
"We are pleased to have EQT Future and Kühne Holding on board as strong, long-term investors. Both have already demonstrated their commitment to sustainable, long-term investment strategies. Their capital and expertise will be a great asset to Flix. We couldn't ask for better partners to help us achieve our strategic goals."
Andreas Aschenbrenner, Founding Partner and Deputy Head of the EQT Future Advisory Team, explains:
"EQT Future supports high-quality, growing companies that have the potential to become sustainability leaders in their field. Flix is the perfect example of this. We are very impressed by what André and his team have built at Flix. They have developed the company from a startup into a global market leader with a presence in 43 countries.
Together with investment partner Kühne, the company aims to support Flix's strategic growth goals in the long term, Aschenbrenner continued. At the same time, the company aims to make sustainable travel accessible to more people around the world.
“Supporting Flix in expanding its international network”
Dominik de Daniel, CEO of Kühne Holding AG, adds:
"Flix is playing a leading role in developing the next generation of collective passenger transport. Kühne Holding is proud to actively support the company as a strategic partner in its next phase of expansion. Over the past few months, we have built an excellent relationship with our colleagues at EQT Future. We have great confidence in André Schwämmlein and his team and very much look forward to supporting Flix's future in a profitable partnership."
And Karl Gernandt, Chairman of the Board of Directors of Kühne Holding AG, adds:
"As one of the largest strategic investors in the transport and mobility sector, Kühne Holding is now taking a further step into the collective bus transport market. We see significant synergies between Flix's proven asset-light business model and our other investments in the transport sector. We also want to support Flix in expanding its international network. In doing so, we are building on the significant successes Flix has achieved in establishing buses as the leading sustainable mode of transport – for more than a decade in Europe and for several years also outside of Europe."
