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Weekly Deals and Funds Roundup: 8 November 200608/11/2006. 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
UK mid-market private equity investment firm Bowmark Capital has sold its majority interest in Medscreen Holdings to Concateno, an AIM-listed company. Concateno has acquired the entire issued share capital of Medscreen for a total consideration of £30m from Bowmark, Medscreen's management and other private shareholders. Medscreen is a European provider of drug and alcohol testing services. Since Bowmark's investment in the company in March 2002, Medscreen has developed through both organic and acquisitive growth. The proceeds received from the sale by Bowmark-managed funds represent a return of 6.7 times cost on its investment, and an IRR of 52 per cent, according to Bowmark.
Baring Private Equity Asia has taken a 25 per cent stake in AirTAC Automatic Industrial Company, a Chinese manufacturer and distributor of pneumatic components used to power machines in a range of industrial applications such as machine tools, printing presses, food processing and packaging. Baring Asia recently announced that it raised $490m for its latest Asian buy-out fund.
Apax Partners and Standard Chartered Bank have agreed to purchase 3i's remaining six per cent stake in Travelex. In August 2005 Apax and SCB bought a majority stake in Travelex from 3i and Lloyd Dorfman, the founder. 3i had retained a six per cent equity stake and certain vendor loans in the business.
Spanish mid-market private equity firm Nazca Capital has acquired - together with the management team - 100 per cent of Corporación Empresarial El Derecho, owner of El Derecho Editores y Editorial Quantor.
Easycash has announced that Warburg Pincus has agreed with First Data International to acquire 100 per cent of Easycash. Financial details of the transaction were not disclosed. Easycash offers customised card-based payment solutions and credit card routing.
Copyright © 2006 AltAssets
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