CREATING
LONG-TERM VALUE
FOR GENERATIONS

About US

FRAPAG is a privately owned investment company with a heritage in the paper industry. FRAPAG traces its origins to the establishment of the Frantschach pulp and paper mill in Austria. Over the decades, the group has navigated significant historical and economic transformations, evolving through periods of international expansion, restructuring, and strategic partnerships. The formation of FRAPAG in 1973 marked the beginning of its structured approach to managing industrial holdings, later complemented by real estate investments and the establishment of the HKW Private Foundation in 1994.
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Today, FRAPAG leverages this rich heritage to deliver sustainable value and long-term growth across its diversified portfolio. The founders of the HKW Private Foundation regard it as their duty to contribute to society by supporting art, science, research, and innovation. At the core of FRAPAG’s corporate philosophy lie the principles of mutual respect, integrity, and trust. These values underpin its governance framework, stakeholder engagement, and commitment to cultivating enduring partnerships.

Learn more about our history.


It all started with the formation of the Hartmann group in the German Empire in 1881 under the leadership of Wilhelm Hartmann. The period until the outbreak of the First World War was characterized by growth and worldwide expansion. The group was severely impacted by the economic crisis of the 1930s and subsequently expropriated by the Nazi regime in 1938.

In 1952, the Austrian part of the company was restituted, and the group was rebuilt by Fritz Wilhelm Hartmann, the son of Wilhelm Hartmann. When Fritz Wilhelm Hartmann died in 1967, his wife Harriet Hartmann (née Kaufmann) took over the leadership of the group. A period of growth and international expansion followed, leading to a joint venture with Mondi plc. (Anglo American Group) in 1990 and a sale of all remaining shares in 2004.

The acquisition of a strategic shareholding in the Swedish pulp and paper company Billerud under the leadership of Michael M.F. Kaufmann in 2005 marks another milestone in the group’s history. Since 2005, Billerud has grown significantly, multiplying its net sales and production volume and becoming a leading company in high-performing paper and packaging materials.
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Strategy

Our investment strategy focuses on long-term value creation. We primarily invest in established companies with strong market positions and high-quality real estate assets. As an active shareholder, we support management teams in unlocking the full potential of their businesses by providing capital, expertise and access to a well-established network of advisors and financing partners. Typical investment opportunities include growth financing, succession planning, and corporate spin-offs.

Unlike many financial sponsors, we have no predefined exit horizon – we are committed to well-performing investments for the long term. This long-term perspective enables us to offer flexibility in developing tailored investment solutions that meet the specific needs of each business.

BUSINESS UNITS

The business units reflect our heritage as well as our investment strategy.
With equity holdings, real estate, and external investments, FRAPAG's portfolio is well-diversified to create long-term value.
@ Billerud

Equity Holdings

Shareholdings in both publicly listed and privately owned companies represent a core activity of FRAPAG.

Since 2005, FRAPAG has held a strategic stake in Billerud AB, a leading producer of sustainable packaging materials.

Find out more about Billerud AB: www.billerud.com
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Real Estate

Real estate investments have been a cornerstone of our strategy for over 40 years.

They provide stability and contribute to long-term value creation. 

The portfolio includes high-quality commercial and residential properties across Europe and the United States.

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External

In addition to its core activities, FRAPAG regularly invests with external managers.

Typical investments include Private Equity, Venture Capital, and public equities and bonds.

External commitments increase portfolio diversification and offer financial flexibility.

ORGANISATION

The HKW Private Foundation was established to protect and preserve assets over generations. FRAPAG, which is wholly owned by the foundation, actively manages the group's assets.

Organigram: FrapagOrganigram: Frapag
Executive Board

 
Ewald Nageler
Chairman

 
Elisabeth Krainer Senger-Weiss
Vice Chairman

 
Philipp Harmer
Member

 
Florian Heiserer
Member
Executive Management

 
Florian Heiserer
Co-CEO, CFO

 
Johann Steinbrecher
Co-CEO
Advisory Board

 
Michael M.F. Kaufmann
Chairman

 
Richard Alain Belcredi
Vice Chairman

 
Robert Briem
Member

 
Stephanie Haug-Kaufmann
Member

 
Johannes Kaufmann
Member

 
Josef Reiter
Member
Supervisory Board

 
Michael M.F. Kaufmann
Chairman

 
Ewald Nageler
Vice Chairman

 
Richard Alain Belcredi
Member

 
Philipp Harmer
Member
Logo - FRAPAG

FRAPAG Beteiligungsholding AG

Icon Telefon +43 1 795 22 0
Icon Telefon office@frapag-group.com

Fax: +43 1 795 22 30 01

Berggasse 7
1090 Vienna
Austria

Austrian business register:
FN 113828 w, HG Wien

VAT number:
ATU 14838504

Privacy Policy (data protection)
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