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Hartenberg Holding

Hartenberg Holding is an investment firm focused primarily on Central Europe. Backed by EUR 300 million in founder commitments, we help businesses achieve growth and long-term value.

Hartenberg Capital

Hartenberg Capital serves as the General Partner and Administrator of Hartenberg Holding. Its responsibilities include managing assets, sourcing and evaluating investment opportunities, executing transactions, and working closely with management teams to implement value-creating strategies. The firm also oversees the full investment lifecycle, including exits.

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Investment Philosophy

At Hartenberg, we pursue superior returns for our investors through a rigorous investment selection and management process. As we invest only our own capital, we have the flexibility to differentiate ourselves in several important ways:

Partners, not just financiers:
We become active partners in the businesses we invest in.
Speed and transparency:
Our decision-making process is quick, offering timely responses and open feedback.
Flexible investment profile:
We pursue a broader range of company sizes and risk/return profiles.
Long-term commitment:
We can be a "forever-investor" in companies we believe in, supporting sustainable growth for the long term.

Investment Strategy

Hartenberg targets established businesses with strong market positions, clear competitive advantages, and significant potential for future growth. We focus on industries that are consolidating, growing, or undergoing change, with well-defined opportunities for value creation.


An ideal company for us will:

Generate strong cash flow.
Have a proven management team with a clear motivation to drive growth.
Operate in an industry that is consolidating or transforming.
Serve as a strong platform for further growth and acquisitions.
Before becoming owners, we ensure that management, and when applicable,
co-investors, share a common vision for the company’s future and growth trajectory.

Investment Criteria

We typically invest in companies with enterprise values ranging from EUR 40 million to EUR 200 million.

We are open to larger transactions through co-investments and may also consider smaller investments as part of a buy-and-build strategy.

We prefer to be long-term investors in the companies we acquire. Our typical time horizon is over five years; however, we may remain invested for the long term if the company continues to offer strong dividend yields and growth potential. Our preferred sectors include those where we have already made investments. Our primary target region is Central Europe, although we also invest in other European regions through our portfolio companies.

Hartenberg

in figures

as of December, 31st 2024

830 million

Sales

113 million

EBITDA

5500 Colleagues

in Portfolio Companies

58 Acquisitions

Made to date

560 million

Equity Value of Portfolio

2013

Year of foundation

Investments in 20 countries

Investments
in 20 countries

Europe 19

Czech Republic
Slovakia
Poland
UK
Ireland
Finland
Sweden
Estonia
Netherlands
Spain
Italy
Slovenia
Serbia
Bosnia and Herzegovina
Kosovo
Ukraine
Bulgaria
Romania
Turkey

Asia 1

China
World Map

Shareholders structure

The beneficial owners of Hartenberg Holding are Mr. Andrej Babiš and Mr. Jozef Janov. The beneficial owners of Hartenberg Capital are Mr. Jozef Janov and Mr. Libor Němeček. All key investment professionals at Hartenberg Capital hold significant stakes tied to the performance of the projects.