Afinum buys Thonet

Thonet was previously wholly owned by the Thonet family, which now holds a minority stake in the business.

The capital was invested via Afinum's AF Eigenkapitalfonds für den Deutschen Mittelstand vehicle, which was launched in 2010 and holds €210m. No debt was arranged for the transaction.

The fresh capital will be used to further the firm's international expansion.

In April this year, Afinum held a €280m close for its fourth buyout fund, Afinum Siebte Beteiligungsgesellschaft.

Company
Thonet is based in Frankenberg, where it employs around 150 staff. The business was founded in 1819 by Michael Thonet and has been owned by the Thonet family ever since.

In the last century, Thonet produced works by Bauhaus architects, such as Marcel Breuer, Mart Stam and Mies van der Rohe.

People
Burkhard von Wangenheim and Michael Hüsken led the transaction for Afinum. Peter Thonet is CEO of Thonet.

Advisers
Equity – CMS (Legal); AMR (Commercial due dilligence); Roedl & Partner (Financial due diligence).
Vendor – Argonas (M&A); Wendelstein (Legal).

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• Topics
• DACH
• Buyouts
• Consumer
• Germany