ESO acquires Core Capital
Hybrid equity and debt fund manager ESO Capital has acquired lower-mid-market growth capital investor Core Capital.
The development comes two and a half years after Core Capital held a first and final close on £85m for its second private equity fund, Core Capital Partners II.
The consolidated group will offer a broader range of hybrid capital products ranging from senior debt to equity. It will make investments worth up to €40m across the UK, the German-speaking European countries, the Benelux region and the Nordic countries.
The two firms have worked together on previous transactions, with the acquirer providing a £3m mezzanine loan to Core Capital-backed casual dining group Brasserie Bar Co as part of a £23m refinancing in July 2017.
Following the deal, Core Capital founders Walid Fakhry and Stephen Edwards will take seats on the ESO management board, while ESO Capital founder Alex Schmid will remain as CEO of the consolidated business.
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