The Company
Thonet GmbH, based in Frankenberg, Hesse, currently employs around 150 people. The furniture brand is one of the best known in the world, ever since the bentwood furniture by Michael Thonet and his descendants made design and economic history more than 150 years ago. With the production of tubular steel furniture by important Bauhaus architects such as Marcel Breuer, Mart Stam and Mies van der Rohe, Thonet achieved another coup in the 20th century. As a result, Thonet is still a coveted brand today, always at the top of the rankings of renowned high-end companies. Today, homes, offices and public buildings around the world are furnished with the classics and with current collections from Thonet. Thonet still produces in its own factory in Germany.
The Transaction
Thonet has been owned by the Thonet family since its foundation more than 150 years ago. To finance its international business, the company has commissioned ARGONAS to prepare and implement an equity financing that will both allow the company to achieve its financing goals and enable the Thonet family to continue the business. For this purpose, additional funds were raised through a capital increase by the investment company AFINUM - the AF Eigenkapitalfonds für deutsche Mittelstand GmbH & Co. KG - contributed additional funds. The
Thonet family remains active in the management of the company as shareholders. With the support of AFINUM, the expansion of international sales in particular is to be further advanced. Peter Thonet, Managing Director and shareholder of Thonet GmbH, explains: "Thonet, with its unique history and products, still has a lot of potential to open up strategically important export markets in Europe and Asia. In order to do this sustainably we need additional capital. We are glad to have AFINUM, a successful investor with great experience in medium-sized businesses, on board." And Burkhard v. Wangenheim and Michael Hüsken, responsible investment managers at AFINUM, say: "With the investment in Thonet, our company is investing in the growth of this classic medium-sized company. We believe
that the company, with its world-renowned brand and its unique product portfolio has substantial further growth potential, which we want to actively accompany with our fund."
Scope of Mandate
ARGONAS has fully advised and supported the Company and the shareholders as exclusive financing advisor in all aspects of the preparation and implementation of the process.
