In a major development for the global mobility market, Flix, a Munich-based long-distance bus company, has received a significant investment from logistics billionaire Klaus-Michael Kühne and financial investor EQT. The consortium has acquired a 35% stake in Flix, effectively taking an initial public offering (IPO) off the table for the foreseeable future.
The investment marks the beginning of a long-term strategic partnership between the three entities, with Kühne Holding representing the business interests of German billionaire Klaus-Michael Kühne and EQT investing through their sustainability-focused fund, EQT Future. Financial details of the transaction have not been disclosed, but reports suggest that the consortium paid around 900 million to a good billion euros for the stake.
Flix’s commitment to sustainability aligns well with the investment strategy of Kühne Holding and EQT, who are expected to provide valuable capital and expertise to drive further expansion. The company has seen rapid growth since its founding in 2013, transporting 81 million passengers in 2023 and recording sales of 2 billion euros and an adjusted EBITDA of 104 million.
Kühne Holding sees synergies between Flix’s business model and its existing portfolio in logistics, shipping, and aviation. The investment is seen as a strategic move to support Flix’s growth plans and complement Kuhne Holding’s existing activities in the transport sector. The three founders of Flix will continue to be involved in its operation and expansion plans going forward.
With this backing from new investors and a successful track record of growth, Flix is poised for further expansion in the global mobility market. The company’s innovative business model and commitment to sustainability have positioned it as a key player in the long-distance bus and train services sector, with plans for continued growth and expansion on the horizon.