As previously reported, EQT, together with Kühne Holding and other co-investors, is acquiring a stake of approximately 35 percent in Flix. Shares from existing investors will also be transferred. The investment is part of a long-term strategic partnership based on a shared vision for Flix's next phase of profitable growth. EQT is investing through EQT Future, its sustainability-focused, long-term fund.
It has now been announced that Porsche Automobil Holding (Porsche SE for short) is also participating in the transaction. The joint investment in Flix is intended to further deepen the collaboration between the holding company and EQT. This and other collaborations with leading global private equity and venture capital firms are a central element of Porsche's investment strategy. Porsche SE should not be confused with Porsche AG: While the SE is responsible for the asset management of the Porsche Piech family, the AG is responsible for the production of sports cars as a subsidiary of the VW Group.
“Flix is an impressive success story”
Lutz Meschke, Member of the Executive Board for Investment Management at Porsche SE, says:
"Flix is an impressive success story. We see significant growth potential for sustainable and affordable mobility offerings in the future and are pleased to support the further global expansion of the Flix platform. The investment with EQT exemplifies our approach of working with leading global investors to implement our investment strategy."
Andreas Aschenbrenner, Founding Partner and Deputy Head of EQT Future, adds:
"Porsche SE is a leading global investor in the mobility sector, with innovation, high performance, a long-term investment horizon, and deep industrial expertise deeply rooted in its DNA. This philosophy aligns very well with EQT Future's active ownership mentality. We are delighted to support Flix SE as our first joint investment with Porsche SE on its exciting global growth path."
With the investment in Flix, Porsche SE is expanding its investment portfolio for the first time with a stake in a platform provider in the end-customer business. The transaction is scheduled to be completed by the end of 2024, subject to obtaining all regulatory approvals.
