CVC and Therme Group: 1 billion euros for wellness expansion!

CVC and Therme Group: 1 billion euros for wellness expansion!

Fresh plans for the wellness industry: The Therme Group and CVC Capital Partners have come together to form a strategic joint venture called Therme Horizon. The deal is worth a significant €1 billion, which is equivalent to more than $1.1 billion. This partnership aims to sustainably expand the expanse wellness landscape in Europe and beyond.

As part of this cooperation, existing locations such as Therme Erding in Germany and Therme Bucharest in Romania, which together attract around 3.5 million guests annually, are to be further developed. The equal partners will begin implementing their plans in the second half of 2025, subject of course to approvals from the relevant authorities.

Therme Manchester and global expansion plans

Another exciting project from this alliance is the planned Therme Manchester, which is expected to open at the end of 2028. The largest water-based wellness destination in Europe will be created here, on a generous 28 acres. This investment will not only demonstrate a strong impact on the UK market, but could also create numerous jobs and attract visitors.

The Therme Group, headquartered in Vienna, is known for developing large wellness resorts that include thermal and mineral pools, saunas and various dining options. An interesting highlight is the 100 meter high “Oasis in the Sky” in Dubai, which is intended to drive expansion to new heights. This is part of an active expansion strategy that also includes locations in cities such as Frankfurt, Toronto, Washington D.C. and Dallas.

Private equity in healthcare

CVC's investment is made through the CVC Capital Partners IX fund, which was launched in 2023 with a significant capital of 26 billion euros. CVC operates as one of the largest private equity firms in the world and has also gained a foothold indirectly through the acquisition of the Romanian healthcare network Regina Maria. The healthcare sector as a whole is on the rise and recorded a transaction volume of around $115 billion in 2024, as reported Private Equity Healthcare Report 2025 proven.

The period under review shows a recovery in the private sector, supported by many megadeals, with North America and Europe being the key players in this market. Many are curious to see how these trends will impact the wellness and health landscape and whether Therme Horizon can make a major contribution to this.

So the partnership between Therme Group and CVC is not only good business, but could also usher in a new era of well-being and health in the region. We can wait with curiosity to see how these developments will unfold!