In addition to subscribing to a capital increase, EQT and Kühne Holding are to acquire shares from existing investors and thus build a long-term anchor stake in Flix. EQT is investing through EQT Future, its sustainability-focused, long-term fund. The closing of the transaction is currently subject to regulatory approvals.
The investment comes at a time when Flix is experiencing strong growth and expanding strategically worldwide. The company recorded revenue growth of 30 percent in 2023 and achieved annual revenue of 2 billion euros for the first time. At the same time, the Munich-based company increased its profitability with adjusted EBITDA of 104 million euros. The company’s international expansion is also progressing: it recently expanded its offering to Chile and India.
André Schwämmlein, CEO and co-founder of Flix, says:
“We are delighted to have EQT Future and Kühne Holding on board as strong and long-term oriented investors. Both have already demonstrated that they pursue sustainable and long-term investment strategies. Their capital and expertise will be a great asset to Flix. We couldn’t wish for better partners to achieve our strategic goals.”
Andreas Aschenbrenner, founding partner and deputy head of the EQT Future Advisory Team, explains:
“EQT Future supports high-quality and growing companies with the potential to become pioneers in sustainability 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 to a global market leader with a presence in 43 countries.”
Together with investment partner Kühne, the company wants to support Flix’s strategic growth goals on a long-term basis, Aschenbrenner continues. At the same time, the goal is to make sustainable travel more accessible to more people around the world.
“Support Flix in expanding its international network”
Dominik de Daniel, CEO of Kühne Holding AG, adds:
“Flix plays 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 expansion phase. In recent months, we have built an excellent relationship with our colleagues at EQT Future. We have great confidence in André Schwämmlein and his team and look forward very much to accompanying Flix’s future in a mutually beneficial 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 another step into the collective bus transport market. We see great 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 great successes that Flix has achieved in establishing the bus as the leading sustainable mode of transport – for more than a decade in Europe and for several years also outside of Europe.”
