HF

HGDF Familienholding

Flensburg, Germany·Founded 1738·

BuyoutGrowth EquityVenture Capital

·hgdf.de

HGDF Familienholding (Herm. G. Dethleffsen Flensburg) is a Flensburg-based German family investment holding whose roots trace to a 1738 Dethleffsen trading business; after selling its spirits arm to Berentzen in 1998 it was rebuilt as a pure evergreen investment holding. It takes majority stakes in successful German Mittelstand companies, above all in succession situations, and holds a minority start-up book, deploying roughly EUR 150 million of family capital with an open-ended long-term horizon.