Flix SE Welcomes EQT Future and Kühne Holding as Strategic Investors

July 4, 2024

Flix SE (“Flix” or the “Company”), a global travel tech company, has announced a significant milestone: EQT, a renowned global investment organization, and Kühne Holding, one of the world’s leading logistics entrepreneurs and investors, have reached a definitive agreement to acquire a 35% minority stake in Flix. This strategic investment, involving both primary investment and acquisition of shares from existing shareholders, aims to establish a long-term anchor shareholding in Flix. This move is expected to bolster Flix’s balance sheet and propel its trajectory of profitable growth. The transaction’s completion is contingent upon customary conditions and regulatory approvals.

André Schwämmlein, CEO and Co-Founder of Flix, expressed enthusiasm about the partnership, highlighting the strength and vision EQT Future and Kühne Holding bring to the table. Schwämmlein emphasized the alignment in strategic vision, noting that their capital and expertise will significantly contribute to Flix’s growth journey.

Andreas Aschenbrenner, Founding Partner and Deputy Head of the EQT Future advisory team, praised Flix as a leader in sustainable long-distance travel, lauding the company’s evolution from a startup to a global market leader. Aschenbrenner reiterated EQT Future’s commitment to providing more than just capital, emphasizing their role in supporting Flix’s strategic growth agenda and expanding its low-carbon travel solutions globally.

Dominik de Daniel, CEO of Kühne Holding AG, underscored the importance of this partnership in driving the next generation of collective transport. He highlighted the strategic synergy between Kühne Holding and EQT Future, expressing confidence in Flix’s leadership and looking forward to supporting the company’s future expansion.

Karl Gernandt, Chairman of Kühne Holding AG, elaborated on the strategic fit of Flix’s asset-light operating model with Kühne Holding’s other transport sector investments. He stressed the potential for synergies and the support for Flix’s international network expansion, building on the company’s decade-long success in promoting sustainable bus transport across Europe and beyond.

Flix is currently experiencing significant growth momentum. In 2023, the company reported a 30% increase in total revenue, reaching EUR 2 billion, and an adjusted EBITDA of EUR 104 million. This financial strength supports strategic initiatives such as expanding the global footprint, transforming the North American bus market, and scaling FlixTrain in response to growing demand for alternative rail services in Germany.

To enhance its geographical presence, Flix has recently entered key bus markets in Chile and India. Its global footprint now spans 43 countries. In Europe, FlixBus is expanding services in the UK, Portugal, and Ukraine, and has launched in Norway and Finland. The company’s ambition is to achieve market leadership in these regions.

In North America, Flix has been active since 2018 and expanded significantly in 2021 with the acquisition of Greyhound Lines. This acquisition has strengthened its reach in the US, Canada, and Mexico. The integration of Greyhound operations into the Flix platform is progressing, contributing to growth and profitability.

Flix’s commitment to sustainable and responsible travel is evident in its ongoing efforts to review and mitigate the impact of its operations. The company published its second voluntary ESG report in 2023, aligning with EQT Future’s mission to support market-leading businesses that contribute positively to the planet through their products and services.

This strategic investment by EQT Future and Kühne Holding marks a pivotal moment for Flix, setting the stage for continued growth and leadership in the global travel tech industry.