Press Release
Corsair announced today that EagleTree Capital has reached a definitive agreement in partnership with current management to acquire a majority stake in Corsair from Francisco Partners and several minority shareholders. As part of the transaction, Corsair founder and Chief Executive Officer Andy Paul will maintain a sizable equity stake in the Company and continue in his role as CEO. IMCO (Investment Management Corporation of Ontario) and the Honeywell pension are also co-investing alongside EagleTree, which is acting on behalf of its private equity fund EagleTree Partners IV.
Founded in 1994, Corsair has grown from a single performance memory product line into a leading global provider of high performance branded computer products, including memory, components, peripherals, and complete systems. The company’s diverse portfolio of premium PC gaming products serves the high-growth PC gamer market, and the products are available through distributors and retailers in over sixty countries worldwide.
“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.”
“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,” said George Majoros, Jr., Co-Managing Partner of EagleTree. “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.”
“It has been our pleasure to partner with Andy and the team at Corsair. They have built an incredible company and are well positioned for continued success,” said Andrew Kowal, Partner at Francisco Partners. “We wish the company and EagleTree all the best in their next chapter of growth.”
“Francisco Partners was a great partner to CORSAIR over the last several years,” added Andy Paul. “Their counsel helped us accelerate our strategic objectives to diversify and deepen our product portfolio, realize an expanded global footprint, reinforce and focus our brand, and strengthen our financial position.”
The transaction is expected to close in the next several months, subject to customary closing conditions.
