CCCC Growth Fund, based in Pasadena, Calif, has acquired a majority stake in ESCO Holdings LLC, the parent company of hearing aid insurer and warranty service ESCO Ear Service Corporation, based in Plymouth, Minn.
The press release announcing the investment was not specific about how the company will utilize CCCC’s investment; it only mentioned that the company will continue to improve and expand ESCO’s services.
Carl Herrmann, Jr, chairman of CCCC, stated in the press announcement, “CCCC’s mission is to provide long-term financing and support to help specialty insurance companies grow. ESCO represents our ideal partner; they have an exemplary brand born of 20 years of exceptional underwriting and customer service.”
Charlie Stone, AuD, the founding partner of ESCO, will continue as ESCO’s executive
chairman. He said, “I am more excited today than ever before at the possibilities this new partnership can bring to ESCO’s future growth and expansion into the hearing health care market.”
SOURCE: ESCO Ear Service Corporation