bm|t finances expansion of Funke & Will AG
bm|t beteiligungsmanagemenet thüringen gmbh has invested an undisclosed sum in car producer Funke & Will AG (F&W) to finance their expansion and the partial relocation of car production to the State of Thuringia.
By building up a car production facility in Thuringia, the Saxony based F&W will substantially increase their capacity. Currently the company is examining locations for the new facility. Main reasons for locating the production facility in the State of Thuringia are the good infrastructure at the heart of Germany and the closeness to suppliers. Production is planned to start at the end of this year.
„Through the investment of bm|t we will be able to increase our production to over 250 cars per year and create up to 80 new jobs in the medium term“, Philipp Will, CEO of F&W stated. For bm|t the investment in F&W perfectly complements the existing investment portfolio of young and innovative companies in Thuringia. „Due to its good market positioning we see excellent national and international growth perspectives for Funke & Will“, says Dr. Guido Bohnenkamp, Managing Director of bm|t.
Thomas Kühr (equity4ventures) who will be appointed as CFO of F&W, advised the company on the structuring of the financing round and acquired a stake in F&W.
Company profile of Funke & Will AG (F&W)
F&W is a car producer that is specialised in the process of automobile small volume production (prototyping, concept cars, small series).
The company was founded in 1999 and has since developed and produced 9 different small series as remittance work. Based on a prototype sportscar presented on the IAA in 1999, F&W developed the YES! Roadster (Young Engineers Sportscar) that has been successfully marketed since 2001.
F&W was honoured with the German Entrepreneur award in 2004 and the Good Design Award of the Chicago Athenaeum as “best new car design of the year” in 2006.
Funke & Will AG
+49 (0) 3522 5267–0
+49 (0) 3522 5267–91