Thonet Increases Capital and Steps up Investment in International Business
With effect from September 3, 2013, Thonet GmbH, based in the German town of Frankenberg (North Hesse), has benefited from an increase in capital. The additional funds were supplied by AFINUM mid-market investment funds (AF Eigenkapitalfonds für deutschen Mittelstand GmbH & Co. KG). As a shareholder, the Thonet family will continue to head the business.
The company will use the AFINUM investment to grow its international business. Peter Thonet, managing director and shareholder in Thonet GmbH, says: “With its unique history and its products, Thonet has a tremendous potential to access strategically important export markets in Asia and
Europe. We will use the additional capital to do this in a sustainable way. AFINUM is a very successful and experienced investor in the mid-market segment, and we are delighted to have such a partner on board.” AFINUM investment managers Burkhard von Wangenheim and Michael Hüsken, who are responsible for the deal, state: “By becoming a shareholder in Thonet, AFINUM is investing in the growth of this traditional medium-sized company. As a globally known brand with a unique product portfolio, Thonet has substantial growth potential and our investment will actively support this strategy.”
Currently, about 150 employees work at the Thonet headquarters in Frankenberg. Since the bentwood furniture, designed by Michael Thonet and his descendants, started to write a new chapter in the history of design and business, the Thonet furniture brand has become one of the best-known
brands in the world. A further success story was created when, in the 20th century, the company started to produce tubular steel furniture designed by renowned Bauhaus architects such as Marcel Breuer, Mart Stam and Mies van der Rohe. These developments have made Thonet the highly sought-after brand that it is today; a brand that constantly achieves top rankings in the listings of renowned high-end companies. Now, at the beginning of the 21st century, private interiors, offices and public buildings are furnished with both Thonet classics and pieces from current collections. To ensure the highest quality standards for which the brand is known, Thonet still produces its furniture at the company’s fabrication facilities in Germany.
AFINUM is an investment fund with offices in Munich, Zurich, Vienna and Hong Kong. Founded in 2000 by Dr. Thomas Bühler and Dr. Gernot Eisinger, AFINUM invests in sound and profitable businesses across all market sectors.
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