EQT and Kühne Holding to Acquire 35% Stake in Flix

Travel tech company Flix SE has finalized an agreement with EQT Future and Kühne Holding for the acquisition of a combined 35% minority stake in the company, as announced on July 4, 2024. This investment marks the beginning of a long-term strategic partnership intended to accelerate Flix's trajectory of profitable growth across its markets and offerings.

EQT Future, an impact-driven fund from global investment organization EQT, and Kühne Holding, representing a significant force in logistics entrepreneurship and investment, will acquire their shares through a combination of primary capital and secondary purchases from existing shareholders. The transaction is expected to strengthen Flix's balance sheet and fuel its expansion plans, pending customary closing conditions and regulatory approvals.

Flix, which operates a global network of bus and train services, reported a total revenue of EUR 2 billion and an adjusted EBITDA of EUR 104 million in 2023. The company has recently expanded into Chile and India, bringing its global footprint to 43 countries. Flix aims to further scale its offering of sustainable and affordable travel solutions.

EQT views the investment as a means to support Flix's ambition to advance low-carbon travel and solidify its position as a leader in mass ground transportation. Kühne Holding anticipates synergies with its existing logistics investments and plans to support Flix's international expansion strategy.