It has been announced that EQT Future and Kühne Holding are to acquire a 35% stake in Flix, parent company of FlixBus, as part of what the partners call a ‘long-term strategic partnership built on a common vision for Flix’s next phase of profitable growth.’
EQT is a global investment organisation, and Kühne Holding is among the world’s largest logistics investors. The three parties have reached what they say is a definitive agreement reached for EQT Future and Kühne Holding to acquire a 35% minority stake in Flix. In addition to a primary investment in Flix, EQT and Kühne will acquire shares from existing shareholders to build a long-term anchor shareholding in Flix. Flix says the investment will further strengthen its balance sheet and help accelerate its trajectory of profitable growth.
“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,” said André Schwämmlein, CEO and co-founder of Flix.
Andreas Aschenbrenner, Founding Partner and Deputy Head of the EQT Future advisory team, added: “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. We are deeply impressed by what André and his team have built, having developed Flix from a startup into the clear global market leader, operating in 43 countries.
“For us at EQT, it is always about providing more than capital. We are proud to partner with Kühne Holding, one of the leading transportation and logistics investors, and together with André and his team, we are excited to support Flix’s strategic growth agenda over the long-term. We aim to ensure Flix’s low carbon solution to long-distance travel reaches even more people across the world and believe that Flix is on a path to being the category defining player in mass ground transportation, with huge potential to become a household name in the industry and beyond.”
CEO of Kühne Holding Dominik de Daniel commented: “Flix is driving the next generation of collective transport. Kühne Holding is proud to actively support them as a strategic partner in their next phase of expansion. Over the past few months, we have established a great relationship with the colleagues of EQT Future. We have great confidence in André Schwämmlein and his team and very much look forward to supporting Flix’s future in a beneficial partnership.”
Karl Gernandt, Chairman of Kühne Holding, 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. Furthermore, we want to support the expansion strategy of its international network. We are building on the great successes that Flix has achieved in establishing the bus as the leading sustainable means of transport – for more than a decade in Europe and now also overseas.”
The investment comes at a time of continued significant growth momentum and strategic expansion at Flix. The company reported 30% total revenue growth in 2023 and, for the first time, reached €2 billion in annual total revenue. To further strengthen its geographical presence, Flix has recently entered two of the most important bus markets worldwide, Chile and India. It is also progressing with the integration of Greyhound Lines, acquired in 2021, with its US business.
