EagleTree Capital Pays $525 Million For A Majority Share In Corsair
The rumors were true: EagleTree Capital has agreed to acquire a majority stake in Corsair from Francisco Partners and several minority shareholders. Investment Management Corporation of Ontario (IMCO) and the Honeywell Pension Fund will also be co-investing in Corsair. According to Corsair, founder and CEO Andy Paul will maintain a sizable equity stake in the company and continue as CEO.
Corsair was founded in 1994, and in the little more than two decades since, the company has expanded far beyond its initial focus on performance memory. It’s one of the top brands in power supplies, coolers, cases, memory products, and peripherals like keyboards, mice, and headsets. Its portfolio also includes complete systems–the company’s happy to sell you a PC in bits and pieces or as a pre-built system.
In a statement, Paul said the following:
“We are excited about the opportunity to partner with EagleTree and leverage the team’s consumer products expertise to further accelerate our progress,” said Andy Paul, Founder and CEO of CORSAIR. “We are very fortunate to have attracted such experienced investment partners. EagleTree’s backing will allow us to continue to focus first and foremost on our loyal and passionate customers, and accelerate our investment in innovation and new technology and products to enhance the quality experience that enthusiasts and gamers have come to expect from us.
EagleTree co-managing partner George Majoros Jr. said:
This is a transformative time in the PC gaming industry. A rapidly growing global gamer population, together with the rise of eSports and streaming, has made PC gaming one of the world’s most dynamic industries. Corsair is the undisputed leader in PC gaming hardware and has built a strong brand on a foundation of quality, innovation and an unwavering commitment to its passionate fans. We look forward to working with Andy and Corsair’s talented management team to maintain the company’s focus on innovative products, to expand into new markets, and to pursue selective transactions.
The transaction is expected to close in the next few months. We’ll know if this major change will have an effect on Corsair’s course soon enough.