Therme Group, a global leader in large-scale urban wellbeing destinations, and CVC, one of the world’s leading private markets investment firms, have received all regulatory approvals and officially completed the previously announced formation of Therme Horizon, in a deal valued at over €1 billion.
The partnership brings together Therme’s proven expertise as a developer and operator with CVC’s financial strength and track record of investing in high-quality, founder-led businesses. Therme Horizon comprises Therme Erding in Germany and Therme Bucharest in Romania, together welcoming approximately 3.5 million guests annually, and includes CVC’s co-investment in Therme Manchester, set to open in late 2028 as the largest water-based wellbeing destination in Europe.
Robert Hanea, Chairman and CEO of Therme Group
Therme Horizon will drive strategic expansion through new developments, facility enhancements, and targeted acquisitions, advancing Therme Group’s mission to make wellbeing accessible and enjoyable for all.
CVC’s investment was made through CVC Capital Partners IX, a €26 billion fund raised in 2023 to back market-leading businesses across Europe and the Americas.
Therme Group was advised by Alantra, Slaughter and May, K&L Gates, and PwC.