ESO Capital takes stake in special servicer

The provider of finance to European SMEs has acquired a majority interest in Germany’s LOANCOS.

ESO Capital has acquired a majority stake of 58.5 percent, for an undisclosed sum, in LOANCOS Group (LOANCOS), a German real estate credit financing service provider.

LOANCOS, which changed its name from Immofori Group in November 2015, was previously focused on non-performing property loans (NPLs). But it now operates across the “value-added” financing chain.

Its services include structuring and due diligence for real estate portfolios, the sourcing of real estate credit, processing performing loans, special servicing for sub-prime and NPLs, and support for securitisation structures and building lease rights.

“Over the past few years, LOANCOS Group has developed into Germany’s strongest provider in the area of real estate credit financing,” said Alex Schmid, CEO of ESO Capital.

“We see considerable further potential for the company, and are looking forward to supporting the management team and the company both financially as well as strategically in the future,” he added.

The firms also announced that Christian Fritsch, who was most recently responsible for Lazard’s restructuring department, will be LOANCOS’ new supervisory board chairman.

Following the deal agreed with ESO Capital, former majority owner IMAXX Holding is retaining a 25 percent stake in LOANCOS while the LOANCOS management team will continue to hold the remaining shares.

Together with its portfolio companies, which include the recently acquired Proceed Portfolio Services, LOANCOS claims to be Germany’s largest independent special service provider for all-comprehensive services connected with financial products secured by real estate.

ESO Capital, which was founded in 2006, offers tailored financing solutions to European small- and medium-sized enterprises. Based in London and Zurich, it manages funds on behalf of institutional investors.