The lending business, a portfolio company of AdCap Management Inc., is acquiring firms TemPay of Cleveland and Millennium Funding of Buffalo, New York, as it pivots to a focus on the staffing industry, which is ripe for M&A.
Encore Funding & Cleveland Kitchen Team Up to Fuel Growth, Drive Lasting Economic Impact
Cleveland-based private lender funds the country s fastest-growing sauerkraut and fermentation brand
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CLEVELAND, April 8, 2021 /PRNewswire/ Encore Funding, a Cleveland-based private lender launched by entrepreneur Joel Adelman, has forged a strategic investment relationship with Cleveland Kitchen, the nation s top premium sauerkraut and fermented foods brand formerly known as Cleveland Kraut. The two organizations will work together to meet skyrocketing market demands and accelerate organic growth.
Founded in August 2020, Encore has already committed tens of millions of working capital to the middle market, with almost half of those dollars remaining in Cleveland. Beyond working capital, the firm s principals offer portfolio businesses the strategic support needed to make critical decisions and reach the next stage of success.