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Weekly Deals and Funds Roundup: 26 July 2006

26/07/2006Source: AltAssets.  

Click here for the latest news, views and interviews in the clean energy investor communityA 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

Avista Capital Partners has acquired a 50 per cent interest in Washington, D.C.-based Thompson Publishing Holding Co. from DLJ Growth Capital Partners, and Credit Suisse private equity fund, at an enterprise value of $130m. Thompson Publishing is a publisher of information on complex laws and regulatory mandates. Avista Capital focuses on making controlling or influential minority investments primarily in media, healthcare and energy companies.

Amadeus Capital Partners, 3i and Intel Capital are co-leading a £9m Series A financing round for London-based digital TV operator Aggregator. The funding will be used to roll out a series of products over the next two years.

Sequans Communications, a supplier of fixed and mobile WiMAX chips, has raised $24m in a new round of equity financing. The round was led by Kennet Venture Partners. The company's existing investors, Add Partners, Cap Decisif, T-Source, SG Asset Management and Vision Capital, also participated in the round.

Aurora Russia, an investment vehicle established to make equity or equity-related investments in small and mid-sized private companies in Russia, has invested $9.4m for a 40.31 per cent stake in Whitebrooks Investments, the holding company of the OSG Records Management group of companies.

The Riverside Company has sold BeaconMedaes, a supplier of medical gas distribution systems, to Atlas Copco USA Holdings, a subsidiary of Swedish company Atlas Copco, for $95.5m. Riverside's sale of its interest in Beacon provided investors a gross IRR of 54 per cent and a gross cash-on-cash return of 5.1 times, according to a statement. Beacon represents Riverside's eighth realisation from its RCAF 2000 fund, which to date has purchased 15 platform companies and 24 add-ons.

Advent International has acquired Euroloc de Maquinaria S.L. , an equipment rental company serving the Spanish construction sector, from Fides Capital and family shareholders. Advent has purchased more than 80 per cent of Euroloc, with management and Intermediate Capital Group, a mezzanine fund, holding the remaining equity interest. The value of the transaction has not been disclosed.

FUNDS

Open Prairie Ventures, an early-stage venture capital firm with offices in Illinois and Kansas City, has announced that HarbourVest Partners has become a limited partner in its Open Prairie Ventures Fund through the purchase of the stake previously held by the Small Business Administration. Financial details were not disclosed. The SBA, through The Small Business Investment Company Act, acquired an interest in the $40m fund in 2000.

Los Angeles County Employees Retirement Association and Morgan Stanley Alternative Investment Partners have announced the closing of a managed private equity co-investment fund, of which LACERA is the primary limited partner having committed $250m. Morgan Stanley and senior team members of Morgan Stanley AIP have also committed capital to the fund. The programme will focus on growth equity and leveraged buy-out transactions, and will target direct participations alongside LACERA's own private equity managers. In its capacity as fund manager, Morgan Stanley AIP will source, select, execute and monitor all such investments on behalf of LACERA.

Copyright © 2006 AltAssets

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