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Therme Group and CVC's New Horizon in Wellbeing Destinations

Therme Group, renowned for leading urban wellbeing destinations, has partnered with CVC, a top-tier private markets investment firm, to establish a strategic joint venture known as Therme Horizon. This ambitious collaboration is valued at over €1 billion and aims to elevate the standard of wellbeing experiences across Europe. With a shared goal of enhancing community well-being, this partnership combines Therme's expertise in developing and operating wellbeing resorts with CVC's robust financial backing.

Upon completion of the deal, which anticipates closing in late 2025 subject to regulatory approval, both CVC and Therme Group will hold equal stakes in Therme Horizon. This new holding entity will encompass prominent destinations, Therme Erding in Germany and Therme Bucharest in Romania—currently two of Europe's most-visited wellbeing resorts, collectively attracting around 3.5 million guests each year. In expanding its portfolio, CVC will also contribute to the ongoing development of Therme Manchester, projected to be Europe's largest water-based wellbeing facility upon its anticipated completion in late 2028.

A Step Towards Global Expansion

Robert Hanea, Chairman and CEO of Therme Group, highlighted that this collaboration signifies a pivotal moment in the company's trajectory towards global expansion. The collaboration with CVC not only symbolizes financial support but also strengthens Therme's commitment to enhancing its unique wellbeing infrastructure, which delivers tangible benefits to communities.

“This partnership offers us the capability to scale our existing influence in Europe while accelerating our development initiatives globally,” said Hanea. The strategic growth platform of Therme Horizon is set to enhance the wellbeing offerings through new developments, facility improvements, and targeted acquisitions.

István Szőke, Managing Partner at CVC, expressed excitement about supporting Therme's innovative model. He stated that Therme’s unique combination of wellbeing, sustainability, and experiential leisure, crafted as urban social infrastructure, distinguishes it from competitors. As the demand for wellbeing-centric experiences continues to rise, CVC sees immense potential in helping Therme scale its operations further.

Therme Group’s existing renowned destinations, such as Therme Bucharest, celebrated for being the first LEED Platinum-certified wellbeing resort, position the company favorably in a competitive market. With numerous upcoming sites such as those in Manchester, Frankfurt, Incheon, Toronto, Washington D.C., Dallas, and Dubai, the possibilities for growth appear promising.

The Future of Wellbeing

As each Therme location serves as a state-of-the-art oasis, the focus is firmly on making wellbeing enjoyable and accessible. Customers can immerse themselves in various experiences, ranging from thermal bathing to cultural programming, all designed to improve individual wellbeing within a sustainable environment. The expansive facilities also feature thermal and mineral pools, numerous saunas, relaxation areas, swim-up bars, waterslides, and diverse dining options.

CVC, managing approximately €202 billion in assets across 30 global office locations, has a rich history of supporting founder-led endeavors, particularly in EMEA. The funds managed by CVC’s private equity strategy are invested in around 140 companies that collectively produce annual revenues exceeding €168 billion and employ over 600,000 individuals.

In partnering with Therme Group, CVC reinforces its commitment to supporting sectors poised for significant growth, particularly those that prioritize sustainability and community well-being. With Therme Horizon, the duo is set to reshape the future of urban wellness experiences, seeking to create a lasting impact on the communities they touch.

For further details on Therme Group and its initiatives, visit thermegroup.com.