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Weekly Deals and Funds Roundup: 3 August 200503/08/2005. 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 deals and fund activity that did not feature as separate stories in AltAssets' daily news service.
DEALS
GTS Poland has agreed to buy a 97.5 per cent stake in Energis Poland from National Grid and Bates Telecom Poland, where one of the shareholders is a private equity fund managed by Innova Capital. Innova decided to invest in Energis Polska at the end of 2004. Innova funds mainly invest in media, financial services, IT/telecommunication, business services and manufacturing.
Nautic Partners has invested in Eagan, Minnesota-headquartered North American Communications Resource, a value added solution provider of Avaya voice and data communications systems to corporations. Terms of the transaction have not been disclosed. Bernie Buonanno, a managing director of Nautic Partners, said, 'The company has achieved remarkable organic growth in the past few years, and we look forward to working with CEO Tom Roles and his management team who have fostered a strong, performance-oriented culture. We see potential to build upon the NACR platform through strategic acquisitions as well as organic growth through expansion of service and maintenance offerings.' Nautic Partners is the independent successor to Fleet Equity Partners, the private equity investment unit of Fleet Financial Group. Nautic Partners focuses on areas including business services, healthcare, manufacturing, and media and communications.
A consortium of financial investors, led by 21 Centrale Partners and including Cogepa and Synergie Finance have bought 100 per cent of the 77.26 per cent ownership interest in France-based industrial storage systems and metal furniture specialist Averys held by shareholders of Renaissance Investissements. This transaction results from an auction process organised by AXA Private Equity. The price for the Renaissance Investissements shares is based on an Averys equity value of €43.4m, ie €35.16 per share. This price includes a €2.38 per share consideration, reflecting the proceeds of a price adjustment and convertible bonds repayment related to Averys' sale of its profiling business in 2004. 21 Centrale Partners is part of the European private equity group 21 Investimenti, led by Alessandro Benetton and Gérard Pluvinet, which manages around €1bn of assets.
Roche has signed an agreement to acquire Global Life Science Ventures' portfolio company GlycArt Biotechnology. Swiss company GlycArt leverages proprietary technology to enhance the activity of therapeutic antibodies for the treatment of cancer and autoimmune diseases. Roche will pay approximately CHF235m in cash in exchange for all outstanding capital stock of GlycArt. GLSV led the series A financing of the company in November 2003, held a supervisory board position and also played an active role in initiating the trade sale process.
American Capital Strategies has invested $111m in the one-stop buy-out of Fosbel Holdings, a refractory maintenance and repair services provider to operators of heavy industrial ovens and furnaces in the coke and glass production industries. American Capital is providing a revolving credit facility and is investing in senior term debt, senior and junior subordinated debt and equity. Fosbel management is also investing in the equity. American Capital is a publicly traded buy-out and mezzanine fund with capital resources of approximately $5.4bn.
Woolworths Group has sold its music and DVD chain MVC for £5.5m to a group of retail sector investors led by Chris Steed, managing director of Argyll Partners. Trevor Bish-Jones, Woolworths Group chief executive, said in a statement, 'The disposal of MVC removes a loss-making business from the Group and allows us to be solely focused on our retail business in Woolworths.'
FUNDS
Early-stage venture capital firm Mission Ventures has closed Mission Ventures III on $210m. Mission Ventures III, like its predecessor funds, will invest primarily in early-stage IT and technology-driven services companies in Southern California. Investors in Mission Ventures III include financial institutions, funds of funds, pension plans and family investment offices, both domestic and international. Mission Ventures manages $500m of capital across its three funds.
Miguel Fernandez has established private equity firm MBF Healthcare Partners, based in Coral Gables, Florida. With $200m in equity, the firm will focus on investing in healthcare service companies throughout the US. 'I am extremely excited about the opportunity to work with healthcare firms across this great country of ours,' explained Fernandez. 'We have learned many lessons about tightly focused management techniques and good customer service through the years, and I feel strongly we will continue to build successful businesses in the healthcare sector.'
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