As already reported, EQT, together with Kühne Holding and other co-investors, is acquiring a stake of around 35 percent in Flix. In this process, shares from existing investors are also changing hands. The participation is considered part of a long-term strategic partnership based on a shared vision for the next phase of profitable growth at Flix. EQT is investing via EQT Future, its sustainability-focused, long-term fund.
It has now been revealed that Porsche Automobil Holding (short: Porsche SE) is also participating in the transaction. The joint participation in Flix is intended to further deepen collaboration between the holding and EQT. This and other partnerships with leading global private equity and venture capital firms is a central element of Porsche’s investment strategy. It is important not to confuse Porsche SE with Porsche AG: while SE is responsible for asset management of the Porsche Piech family, AG is responsible for sports car production as a subsidiary of the Volkswagen Group.
“Flix is an impressive success story”
Lutz Meschke, board member for investment management at Porsche SE, says:
“Flix is an impressive success story. We continue to see great growth potential for sustainable and affordable mobility offerings and are pleased to support the further global expansion of the Flix platform. The investment with EQT is exemplary of our approach to implementing our investment strategy in collaboration with leading global investors.”
Andreas Aschenbrenner, founding partner and deputy head of EQT Future, adds:
“Porsche SE is a globally leading investor in the mobility sector, with innovation, excellence, a long-term investment horizon, and deep industrial expertise deeply rooted in its DNA. This philosophy aligns very well with EQT Future’s active ownership mentality. We are pleased to support the Flix SE as our first joint investment together with Porsche SE on its exciting global growth path.”
With the investment in Flix, Porsche SE is expanding its investment portfolio for the first time with a stake in a platform provider in the end-customer business. The transaction is planned to be completed by the end of 2024 after obtaining all regulatory approvals.
