Gregor Puchas

HF-AT is a private equity investor with a very-long-term outlook. The firm invests in small- to medium-sized Austrian companies across sectors, favoring manufacturing, trading and service industries. They target expansion-stage companies with high-growth potential, medium-sized spin-offs and businesses undergoing succession events likely to lead to MBOs, MBIs or outright sales. They avoid investing in start-ups or turnaround situations. HF-AT acquires either minority interests when investing growth capital or majority stakes in the case of spin-offs and corporate successions. They provide consulting support to their portfolio companies, aim to strengthen the structure already in place, limit their involvement in day-to-day operations and adopt a consensus-building strategy. HF-AT invests either directly or as a silent partner. Investment selection criteria include management quality, market size, competitive position and earnings prospects as well as reporting and operational transparency.