Flix Postpones IPO After Majority Stake Acquired by Kühne Holding and EQT

Flix, a German mobility start-up, has announced that Klaus-Michael Kühne and EQT have acquired a total of 35 percent of the company. This investment has resulted in the postponement of any plans for an initial public offering (IPO) in the near future.

The news comes after ongoing speculation within financial circles regarding a potential IPO of 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 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 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