Business Forum • 19 June, 2025 at 8:57 AM
Global wellbeing leader Therme Group, which has a project near Bucharest, and investment firm CVC, have announced a strategic joint venture named Therme Horizon, in a deal valued at over €1 billion.
This new holding company will encompass Therme Erding in Germany and Therme Bucharest in Romania, two of Europe's most frequented wellbeing destinations, which collectively welcome approximately 3.5 million guests annually.
Furthermore, CVC will co-invest in the development of Therme Manchester. This project is currently underway and is anticipated to open in late 2028, set to become the largest water-based wellbeing destination in Europe.
Robert Hanea, Chairman and CEO of Therme Group, commented on the collaboration: “CVC's significant investment enables us to grow our existing presence in Europe and accelerate our global development.”
István Szőke, Managing Partner at CVC, added: “As demand for wellbeing-focused experiences continues to grow, we're excited to support Robert and his team in scaling their proven model and driving the next phase of their ambitious growth.”
CVC's investment is being made through CVC Capital Partners IX, a €26 billion fund raised in 2023.
The closing of the deal is expected in H2 2025, pending regulatory approval in Germany and Romania.
Therme Group is being advised by Alantra, Slaughter and May, K&L Gates, and PwC.