Frank Hasenfratz
Frank Hasenfratz | |
|---|---|
| Born | 1935 Szár, Hungary |
| Died | Error: Need valid birth date (second date): year, month, day Guelph, Ontario, Canada |
| Occupation | Entrepreneur |
| Known for | Founder and principal owner of Linamar |
Frank Hasenfratz (1935 – January 8, 2022) was a Canadian entrepreneur of Hungarian origin and a billionaire, recognized as the founder and principal owner of Linamar, which ranks as Canada's second-largest automotive parts producer, employing 26,000 individuals at the time of his passing.
Early life
Born in 1935 in Szár, Hungary, Hasenfratz was part of the ethnic German community. Following the unsuccessful Hungarian Revolution of 1956, he escaped in May 1957, journeying through Austria, Italy, and France before ultimately arriving in Canada. He briefly enlisted in the French Foreign Legion but deserted shortly thereafter, securing passage on a freighter bound for Canada.
Career
After settling in Guelph, Ontario, Hasenfratz found employment at a machine workshop producing fuel pumps for Ford Motor Company. Unhappy with the quality standards, he decided to manufacture superior fuel pumps independently. In 1964, he launched a one-person machine shop within his basement and officially established Linamar in 1966. The company’s name is derived from the first syllables of his daughters’ names, Linda (who later became Linamar’s CEO) and Nancy, combined with his wife Margaret’s name.
At the time of his death, Linamar had expanded to employ 26,000 staff members across 17 nations. Hasenfratz owned a 23.6% share of the company; when factoring in proceeds from stock sales, dividends, and additional holdings, his estimated net worth was approximately $1 billion.
Honours
In recognition of his significant contributions to Canada's manufacturing sector and charitable efforts, Hasenfratz was appointed a Member of the Order of Canada in 2014. Additionally, he received inductions into both the Canadian Manufacturing Hall of Fame and the Canadian Business Hall of Fame.
Personal life
Hasenfratz was survived by two daughters, Linda and Nancy, following the earlier passing of his wife Margaret. He lived in Guelph until his death there on January 8, 2022, at age 86.