In a major investment, logistics billionaire Klaus-Michael Kühne and financial investor EQT have acquired a 35% stake in Munich-based long-distance bus company Flix. This move effectively removes the possibility of an initial public offering (IPO) 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 investments of German billionaire Klaus-Michael Kühne and EQT investing through their sustainability-focused fund, EQT Future.
The consortium paid around 900 million to 1 billion euros for the stake, according to reports. Flix has seen rapid growth since its founding in 2013, with operations in 43 countries worldwide and transporting over 81 million passengers in 2023. The company recorded sales of over 2 billion euros and an adjusted EBITDA of 104 million in the same year.
Flix’s expansion strategy will receive a boost from the new investment, with plans to further strengthen its balance sheet and support growth initiatives. 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.
Kühne Holding sees synergies between Flix’s business model and its existing portfolio, which includes investments in logistics, shipping, and aviation. The investment is seen as a strategic move to support Flix’s growth plans and complement Kühne 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 the backing of 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.