Investment in mobility platform together with Kühne Holding and EQT
Porsche Automobil Holding SE (Porsche SE) is acquiring a stake in Flix SE. According to Porsche SE, it is investing an amount in the low double-digit millions.
Specifically, Porsche SE is acquiring a stake in the mobility service provider, which is particularly well known for its Flixbuses, via an EQT fund. As Porsche SE explains in its press release dated July 12, EQT is acquiring a stake of around 35 percent in Flix. In addition to Porsche SE, Kühne Holding is also a co-investor.
The joint investment in Flix will further intensify the cooperation between Porsche SE and EQT, writes the Stuttgart-based holding company with important investments in Volkswagen and the sports car manufacturer Porsche. According to the press release, the cooperation with private equity and venture capital companies is a central element of Porsche SE's investment strategy and the planned expansion of its investment activities.
Long-distance bus and train travel
Flix SE is the operator of a mobility platform for long-distance bus and train travel. According to Porsche SE, Flix SE has been able to significantly increase its revenue in recent years through global expansion. According to Porsche SE, Flix SE transported 81 million passengers in the 2023 financial year and generated revenue of two billion euros.
In its own press release, which was published on July 4, Flix SE explains that the company is pursuing its further strategic goals, taking into account the higher turnover and increased profitability. According to the mobility service provider, this is particularly with a view to global expansion, the transformation of the North American bus market and the further scaling of Flixtrain.
Flix is an impressive success story, says Lutz Meschke, Executive Board Member for Investment Management at Porsche SE.