Ergon’s Sausalitos in €27.5m refinancing

European Capital invested €10m in unitranche bonds and holds €2m of the undrawn capex facility, alongside Kartesia. The investment company, with €900m in assets under management, provides between €10-100m in debt facilities for mid-cap businesses. It is wholly owned by American Capital.

Ergon bought a 47% stake in Munich-based restaurant and bar chain Sausalitos from EQT in May this year. It used its third fund, a €775m vehicle that closed on its target in March 2030, to finance the transaction.

The management team, which remained the same following the deal, stated it plans to grow the restaurant chain both in Germany and internationally.

Company
Founded in 1994 by Thomas Hirschberger, Sausalitos is a casual gastro pub chain with 22 locations throughout Germany. Stores have a common branding and interior design following a Californian-Mexican theme. The company targets mainly students and young professionals in the 18-30 age range. It employs approximately 900 full- and part-time staff, and is headquartered in Munich.

People
Matthew Gordon Clark is managing director and Marcus Maier-Krug is investment director of European Capital.

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• Topics
• DACH
• Consumer
• Restructuring
• Germany
• EQT
• Ergon Capital Partners
• European Capital
• Refinancing