Afinum sells Avantgarde to EMH

Afinum held a minority stake in the business, which it had acquired in 2015 through its AF Eigenkapitalfonds für deutschen Mittelstand, vehicle.

EMH will acquire a majority stake in the business by acquiring shares from both Afinum and the company's management team.

The transaction value was not disclosed, but EMH makes investments of between €50-150m per company, according to its website. The GP closed its first fund on €350m in 2017 and is currently in the market with its second vehicle.

Company
Avantgarde was founded in 1985 and is headquartered in Munich. It advises brands on their customer experience using tools such as social media, virtual reality, architecture, project management and user research. It employs 750 people at offices in Germany, Austria, Switzerland, the UK, Dubai, China and Brazil, and generated sales of €80m in 2018.

People
EMH Partners – Thomas von Werner (managing partner).
Avantgarde – Martin Schnaack (CEO).

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