Therme Group Partners with CVC on €1 Billion Wellbeing Venture
Deal News | Jun 17, 2025 | CVC Capital Partners
Therme Group and CVC Capital Partners have announced a strategic €1 billion joint venture named Therme Horizon, aimed at expanding wellbeing destinations throughout Europe. Under the partnership, Therme Group and CVC will become equal partners in Therme Horizon, which will manage existing sites such as Therme Erding in Germany and Therme Bucharest in Romania, attracting 3.5 million visitors annually. CVC will also co-invest in Therme Manchester, scheduled to open in 2028. This investment represents a significant step in Therme's global expansion strategy, aiming to enhance and grow their wellness infrastructure across Europe via new developments and acquisitions.
Sectors
- Wellbeing and Leisure
- Private Equity
Geography
- Germany – Therme Erding, a major component of the joint venture, is located in Germany.
- Romania – Therme Bucharest is another main site in the Therme Horizon joint venture, located in Romania.
- United Kingdom – The planned development of Therme Manchester involves investment from CVC and is set to become a significant destination in the UK by 2028.
Industry
- Wellbeing and Leisure – The article discusses the expansion of wellbeing destinations, highlighting Therme Group's role as a leader in the development of large-scale urban wellbeing centers.
- Private Equity – CVC Capital Partners is a private equity firm, and its role in the joint venture and investment strategy is crucial to the financial expansion plans described.
Financials
- €1 billion – The joint venture between Therme Group and CVC Capital Partners is valued at over €1 billion.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Therme Group | Joint Venture Partner | Company | Therme Group is a global leader in large-scale urban wellbeing destinations. |
| CVC Capital Partners | Joint Venture Partner | Company | CVC Capital Partners is one of the world's leading private markets investment firms. |
| Therme Erding | Holding Company Asset | Company | Located in Germany, it is one of Europe's most visited wellbeing destinations. |
| Therme Bucharest | Holding Company Asset | Company | Located in Romania, it is another major wellbeing destination in Europe. |
| Therme Manchester | Development Project | Company | A forthcoming project in the UK planned to be the largest water-based wellbeing destination in Europe. |
| Robert Hanea | Chairman and CEO | Person | Robert Hanea is the Chairman and CEO of Therme Group. |