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Weekly Deals and Funds Roundup: 13 July 200513/07/2005. Source: AltAssets. 
 A selection of the latest deal and fund news from across the globe - essential reading for those who need to keep up-to-date with the industry's key developments.
This weekly roundup provides an update on smaller deals and fund activity that did not feature as separate stories in AltAssets' daily news service.
DEALS
American Capital Strategies has invested $25m in the recapitalisation of AmSan, a distributor of janitorial and sanitary products to building services contractors, educational, healthcare and hospitality customers. American Capital’s investment takes the form of senior term debt. Private equity investment firm GTCR Golder Rauner LLC is the majority owner of the company. American Capital is a publicly traded buy-out and mezzanine fund with capital resources of approximately $5.4bn. GTCR currently manages more than $6bn of equity capital.
Baring Private Equity Asia has announced that its Baring Asia Private Equity Fund II has committed to invest up to $27m in Chinese automotive parts maker Minth Group. Gordon Shaw, managing director of Baring Asia’s Shanghai office, said, ‘Minth has a successful track record of partnering with global technology leaders to localise production, which is an effective means of cost reduction for its customers. Given the company’s cost competitiveness and its qualification by global OEMs, the export market represents great potential for Minth. We are looking forward to a long and successful partnership with the company as it enters a new phase of growth.’ Baring Private Equity Asia, a member of Baring Private Equity International, advises over $650m in capital for MBO financing and growth capital for companies in the mid-market sector in Asia Pacific. The firm invests in companies with enterprise values between $50m and $200m.
Washington, DC-headquartered Allied Capital Corporation has invested $162m to finance a management-led recapitalisation of Norwesco. Norwesco designs, manufactures and markets polyethylene tanks. Allied Capital’s investment took the form of senior debt, subordinated debt, junior subordinated debt and non-voting common equity. The management re-invested a portion of its equity ownership in the transaction. The selling shareholders of Norwesco were private equity firms Norwest Equity Partners and Brockway Moran & Partners.
Munich-based Wellington Partners portfolio company net mobile, a mobile value added services provider, has gone public. It recorded a double-digit rise in the share price on the first trading day. Wellington Partners remains the largest shareholder with some 20 per cent of the share capital. Wellington Partners invests in start-ups throughout Europe in the information and communication technology and life science sectors. The firm manages a total fund volume of €350m.
Nautic Partners’s portfolio company, HB Performance Systems, has acquired the assets of Sun Metal Products, a manufacturer of rims and wheelsets for mountain bikes and related end markets. Terms of the transaction have not been disclosed. Providence, Rhode Island-based Nautic acquired HB Performance Systems in June. HB Performance Systems manufactures custom braking systems for original equipment manufacturers of motorcycles, bicycles, ATVs, snowmobiles and other non-automotive applications. Nautic targets control investments of between $25m and $75m in middle-market companies. The firm focuses on business services, healthcare, manufacturing, and media and communications.
FUNDS
Advantage Capital Partners has raised approximately $23m under the Texas Certified Capital Company programme for investment in qualified small businesses. Advantage’s president Steven T Stull said, ‘We look forward to investing in promising companies with solid growth prospects, companies that will create jobs and increase demand for goods and services from other local businesses.’ To be considered for a CAPCO investment, businesses must be headquartered in Texas, have principal business operations in the state and have 100 or fewer employees, at least 80 per cent of whom must live in Texas. The primary purpose of the business should be manufacturing, processing or assembling products, conducting R&D or providing services.
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