Therme Group

Therme Group is a wellness infrastructure company that operates spa, sauna, and indoor water park complexes in Europe. It has a location in Bucharest, Romania, and has announced plans for resorts in the United Kingdom, Canada, and the United States.

In December 2024, the Auditor General of Ontario criticized the Therme Canada project on the Toronto waterfront as opaque and unfair and that the Therme Group had included information about "Therme" projects that it did not control in its bid. In April 2025, The New York Times reported that Therme may have inflated its credentials and incorrectly claimed to have the required 100 million CAD equity to meet the province's bid requirements.

In 2024, Therme Group acquired Therme Erding, using a €320 million funding received from Macquarie Capital’s Principal Finance team with its own equity.