The takeover of Europe’s largest wellness destination, supported by one of the largest single financings in the industry
Therme Group gives the takeover of Erding thermal baths known, the world’s largest wellness destination near Munich in Germany. With this transaction, Therme Group will exceed the mark of 3.5 million visitors per year in its portfolio of wellness destinations, a new type of social infrastructure that brings together all aspects of well-being in a single place.
In order to complete the acquisition of Therme Erding, the Therme Group used, in addition to its own equity, a financing package of 320 million euros provided by Macquarie Capitals Principal Finance Team which is recognized worldwide as a leader in tailored and complex financing solutions for real estate investments. The financing provided by Deutsche Bank was arranged, represents one of the largest single financings in the industry. With the takeover of Therme Erding, the Therme Group underlines its leading position in this sector and its commitment to driving forward the expansion of its state-of-the-art wellness infrastructure worldwide.
“Therme Erding is an exceptionally high-quality property, and we are pleased that we can use our balance sheet to gain an experienced operator as a partner in the Therme Group. The Therme Group stands out as a first-class operator and developer of these specialist commercial properties and we are pleased to be able to support their growth.”
– Alexi Antolovich, Global Co-Head Real Estate, Macquarie Capital Principal Finance
The addition of Therme Erding to Therme Group’s portfolio is the result of a long-standing personal relationship between the Wund family and Robert Hanea, CEO and founder of Therme Group, based on a shared commitment to promoting scientifically based wellness solutions combining the benefits of traditional thermal spas with state-of-the-art technology and programming to create an accessible, world-class experience.
“In Therme Group we have found an established and proven partner who shares the innovative legacy of well-being that I have built together with my father. This acquisition not only honors this legacy, but also ensures a vibrant and successful future for Therme Erding, its employees and the community it serves.”
– Dipl. Ing. Jörg Wund, Managing Director of Therme Erding
This milestone makes Therme Group the world’s largest operator of wellness infrastructure. Building on this strong foundation, the group has announced new locations in Manchester, Frankfurt, Toronto and the US that will help bring its transformative approach to millions of people.
“As we expand globally, we’re not just expanding our portfolio – we’re redefining how cities can integrate spaces that prioritize health, connection and inclusion, making urban wellness accessible to all. By moving away from the exclusivity of the traditional wellness sector, we aim to redefine the sector’s potential and its benefits to society as a whole.”
-Dr. Robert Hanea, founder and CEO of Therme Group
The Therme Group was supported in the transaction by Alantra, Rödl & Partner, PwC, K&L Gates and Slaughter and May; the financing was structured by Deutsche Bank and the BF.direkt Group. Deutsche Bank also acted as arranger for the financing, while Macquarie Capital was advised by Freshfields Bruckhaus Deringer.
About Therme Group The Therme Group is a global owner, operator and developer shaping the future of well-being through a new type of social infrastructure called “Therme”. These spaces of well-being are designed to promote physical, social and mental health and help communities reconnect with nature, themselves and others. Guided by the belief that wellness should be accessible to all, Therme Group develops inclusive, scalable solutions to meet the growing demand for urban wellness.
Current locations, including Therme Bucharest – the world’s first LEED Platinum certified wellness infrastructure – and the newly acquired Therme Erding, the largest wellness destination in the world, welcome millions of visitors each year, and additional projects in cities such as Manchester, Toronto and Frankfurt are being planned.
What is a thermal bath? Therme by Therme Group is a state-of-the-art wellness oasis designed to make wellness enjoyable and accessible to all, eliminating the exclusivity and privilege often associated with modern wellness brands. Each spa offers a diverse range of experiences, from thermal baths and spa treatments to wellness programs and cultural engagement, all in a stunning, sustainable environment. With hundreds of thousands of square meters dedicated to well-being, each spa has thermal and mineral pools, dozens of saunas and wet rooms, thousands of relaxation loungers, lush green spaces with plants and trees, swim-up bars, exciting water slides and a variety of restaurants . In the thermal spa you can explore and define what well-being means to you.
About Macquarie Capital Macquarie Capital is the advisory, capital markets and principal investment arm of Macquarie Group. It includes business advisory services, a broad range of capital solutions, including capital raising services in the equity, debt and private capital markets, as well as capital investments from Macquarie’s balance sheet. Macquarie Capital has deep industry expertise in aerospace, defense and government services, consumer products, gaming and leisure, critical minerals, energy, financial institutions, healthcare, industrials, infrastructure, services, software, technology, telecommunications and media.
Macquarie Capital Principal Finance, the financing and investment arm of Macquarie Capital, makes investments from Macquarie’s balance sheet and provides flexible primary financing and secondary market investment solutions to corporate and commercial real estate clients in North America, Europe and Australasia.