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Weekly Deals and Funds Roundup: 30 November 200530/11/2005. Source: AltAssets. 
 A selection of the latest deals and funds 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
21 Investimenti, acting through its French subsidiary 21 Centrale Partners, has sold its 31.4 per cent stake in Asteel for €22m to a pool of investors led by Natexis Industrie. Asteel is a French developer and producer of electronic and electromechanical components and systems, primarily for companies in the automotive, energy and telecommunications sectors. It currently has 11 manufacturing facilities in France and one in Tunisia, and earnings of €190m for 2005. Under 21 Centrale Partners' ownership, revenues rose from €7m to €169m and EBIT increased from €1m to €13m over six years.
Chicago-based private equity firm WHI Capital Partners has acquired Carpenter Special Products Corporation, an integrated manufacturer of precision engineered metal components and assemblies. As a stand-alone company, it will be renamed Veridiam and will continue to focus on its core nuclear power generation, aerospace and medical device businesses. In connection with the sale, an agreement was executed whereby Veridiam will continue its strong supply relationship with its former parent, Carpenter Technology Corporation, to ensure access to certain of Carpenter Technology's proprietary alloys, according to a statement. In addition, Veridiam and Carpenter Technology have formed a joint development effort in order to continue leveraging each company's strengths and advantages in the marketplace.
European Investment Fund has signed a cornerstone commitment of €30m in INCOM III - Technofonds, a venture capital fund focusing on investments in German software, hardware and telecommunications early-stage companies. The target fund size is €100m.
3i has signed an agreement to acquire Skanska Modul from Skanska for £26m. The transaction includes the Temporent and Flexator business units. Gustav Bard, managing director, 3i Nordic, said, 'Skanska Modul Group has a good business model and has great opportunities for growth in this profitable sector. 3i is going to work actively with the new board for Skanska Modul's further expansion.' Lars Erik Blom, investment director, 3i Nordic, added, 'We find that the construction business is in upswing and prefabricating within it is rising. Temporent and Flexator are already among the market leaders in Sweden and with 3i's backing they are going to further strengthen their position elsewhere in the Nordic countries.'
Enterprise Investors has successfully floated the Polish IT company Teta on the Warsaw Stock Exchange. Private equity funds managed by Enterprise Investors sold half their stakes in the IPO for more than PLN26m ($7.8m), yielding a 2x investment multiple. Teta raised an additional PLN5m ($1.5m) for investments in new ERP software products. WSE investors bought 3 million Teta shares, or 43 per cent of the company. Investor interest was high, and the offer was 2.2 times oversubscribed, according to a statement. Post-IPO, funds managed by Enterprise Investors now hold a 37 per cent stake in Teta.
Direct Capital has acquired a shareholding of 51 per cent in New Zealand Pharmaceuticals, which produces specialty chemicals for pharmaceutical and biotechnology companies. Direct Capital's investment has been completed from its DCPIII and Pohutukawa private equity funds and from BioPacificVentures. The remaining 49 per cent of NZP will continue to be owned by the management and staff of NZP and strategic investor Shin Nippon Yakugyo, a Japanese specialty chemicals business.
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