Therme in EUR 1 Billion Joint Venture with CVC Capital Partners
Deal News | Jun 20, 2025 | CEE Legal Matters
CVC Capital Partners has entered into a joint venture valued at EUR 1 billion with Therme Group, supported by legal advice from Bondoc si Asociatii and White & Case. This transaction is set to propel the expansion of Therme's wellness destination platform, which includes significant locations in Bucharest, Romania, and Erding, Germany. Legal advisors for Therme Group include Slaughter and May and K&L Gates. Bondoc si Asociatii fielded a diverse team of legal professionals, led by Managing Partner Lucian Bondoc, signifying a substantial collaboration effort. This arrangement indicates a continued strategic focus on developing wellness and leisure infrastructure across Europe.
Sectors
- Private Equity
- Hospitality & Leisure
Geography
- Romania – The location of Therme Bucharest, one of the destinations included in the joint venture development.
- Germany – The location of Therme Erding, another key destination in the joint venture.
Industry
- Private Equity – CVC Capital Partners is a private markets investment firm involved in the joint venture.
- Hospitality & Leisure – Therme Group is a wellness destination platform that focuses on leisure and wellness infrastructure.
Financials
- EUR 1 Billion – The value associated with the joint venture between CVC Capital Partners and Therme Group.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| CVC Capital Partners | Investor | Company | A private markets investment firm engaging in a joint venture with Therme Group. |
| Therme Group | Target Company | Company | A wellness destination platform expanding its facilities through the joint venture. |
| Bondoc si Asociatii | Legal Advisor | Company | Provided legal advice to CVC Capital Partners in the transaction. |
| White & Case | Legal Advisor | Company | Worked alongside Bondoc si Asociatii as legal advisors to CVC Capital Partners. |
| Slaughter and May | Legal Advisor | Company | Provided legal advice to Therme Group. |
| K&L Gates | Legal Advisor | Company | Reported legal advisor to Therme Group. |