The investment group Pale Fire Capital has sold its 20% stake in Saunia to the other partners (Michal Drozd, Bohumil Píše, Jan Holeček and Radek Stavinoha), including the founders of the company.

“By its terms, the investment is no longer suitable for PFC’s portfolio. The group added little value to Saunia’s operations,” said Dušan Šenkypl, a partner at Pale Fire Capital, which focuses primarily on strategic investments in internet and technology projects.

Saunia operates 15 sauna worlds in shopping centres in the Czech Republic and Slovakia, providing a wide selection of different types of saunas and cooling systems. This year, Saunia plans to open three new branches, including a swimming pool and a new sauna complex at the Thermal hotel in Karlovy Vary.

Saunia has been part of Pale Fire Capital’s portfolio since 2019.