The temporary work agencies Fischer & Funke and AFM (€20 million sales) have been acquired by the competitor ISU Personaldienstleistungen to form ISU Group. ISU belongs to funds of BayernLB Private Equity.

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The acquisition of Fischer & Funke enables the ISU Group to strengthen its market position as a nationally relevant temporary-work agency.

The Fischer & Funke Gesellschaft für Personaldienstleistungen GmbH and its sister firm AFM Gesellschaft für Zeitarbeit mbH have been acquired by the ISU Group GmbH and merged into the ISU Group. ISU has been a portfolio company of BayernLB Private Equity, the private equity company of BayernLB, since 2006.

Since their formation in 1999, Fischer & Funke and AFM have been expanding continually and are now a regionally relevant temporary-work company. Currently 1200 temporary workers are generating a revenue of EUR 20 million. The companies employ reliable and qualified workers from around 60 different fields of work, mainly in industry and handicraft. The service offering focuses on standard temporary-work and is amended by personnel advisory service, placement service and outsourcing. Besides the Coburg headquarters, Fischer & Funke maintains subsidiaries in Bayreuth, Chemnitz, Eisfeld, Gera, and Saalfeld. AFM’s headquarters are located in Sonneberg.

The acquisition of Fischer & Funke and AFM enables the ISU Group to extend their presence to Bavaria, Saxony and Thuringia. ISU’s CEO Manfred Unser explains, “This way our group, which generates a revenue of around EUR 55 million, achives a nation-wide relevance and is able to expand its portfolio of customers.” Bernd Fischer, founder of Fischer & Funke, will continue to work as the company’s manager in order to secure continuity and to drive the company’s smooth integration into the ISU Group.

„Together with the experienced and successful management we aim for growth within this exceptionally attractive market. We are looking into further acquisitions to support our expansion,” Volkmar Wagner of Bayern LB Private Equity explains.

Centum Capital has initiated this transaction in 2007 and provided advise to the buyer.