Flix welcomes Klaus-Michael Kühne and EQT as new investors

Logistics billionaire Klaus-Michael Kühne and financial investor EQT have acquired a total of 35 percent of the Munich-based long-distance bus company Flix. This investment has resulted in the postponement of any plans for an initial public offering (IPO) in the near future.

There has been ongoing speculation within financial circles regarding a potential IPO of German mobility start-up Flix. However, Flix announced on Thursday that Kühne Holding and EQT are purchasing a significant stake in the company, forming a long-term strategic partnership. Kühne Holding, led by German billionaire Klaus-Michael Kühne, is based in Schindellegi, Switzerland, while EQT is investing through their fund EQT Future, focused on sustainability.

The partnership with the new investors indicates that an IPO for Flix is not on the horizon at this time. The plan involves the acquisition of shares from existing investors, as well as a capital increase to establish a long-term presence in Flix. Financial details of the transaction were not disclosed, but reports suggest that the consortium may have paid around 900 million to a billion euros for the stake.

Flix, known for its Flixbus and Flixtrain services, has experienced rapid growth since its inception in 2013. The company partners with external bus and train operators, allowing them to focus on their booking platform and network while operators handle buses and drivers. In 2023, Flix transported 81 million passengers globally, generating 2 billion euros in sales and an operating profit of 104 million euros.

The influx of new investors, along with the capital increase, will support Flix’s expansion plans. With a track record of sustainable and long-term investments, Kühne Holding and EQT are positioned to provide significant value to Flix. The company’s founders and majority of shareholders will continue to be involved in the business, ensuring continuity in its growth strategy.

Kühne Holding’s involvement in Flix aligns with its existing presence in the transport sector, including investments in logistics group Kühne + Nagel International and top companies like Hapag-Lloyd and Lufthansa. The new partnership is seen as a strategic move to leverage synergies between Flix’s business model and Kühne Holding’s portfolio.