PRINT THIS PAGE Weekly Deals and Funds Roundup: 28 November 200728/11/2007. 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 deal and fund activity that did not feature as separate stories in AltAssets' daily news service.
Warburg Pincus has invested CHF36m ($32.5m) in Spectraseis, a provider of geophysical solutions to the upstream oil and gas industry. Warburg Pincus has acquired a significant minority stake in Spectraseis, providing equity to finance the company's growth plans. StatoilHydro Venture Capital will continue to hold a stake, together with Spectraseis's management team. Spectraseis helps oil and gas companies find and produce hydrocarbon reserves. Customers include Petrobras, StatoilHydro, Pemex and other major operators in the Middle East and North America. Other companies in the Warburg Pincus energy portfolio include Bill Barrett Corp., MEG Energy Corp., ElectroMagnetic GeoServices and Kosmos Energy.
South African investment company Sphere has acquired 42.6 per cent of environmentally friendly packaging company Dynamic Fibre Moulding for an undisclosed sum. Sphere made the investment from its R300m Sphere Fund I, which closed in 2005. This investment is the firm's fourth from the fund.
Manchester, England-based private equity firm Endless has acquired timber door and stair manufacturer STP Group for £6.4m. STP generates annual turnover of £23m and employs a workforce of more than 200. The deal follows Endless' acquisition of Lancashire Chemicals earlier in the year.
Mexican private equity firm Nexxus Capital has acquired the minority interests of private equity firm Zephyr Management in the manager and the general partner of ZN Mexico II. Financial terms were not disclosed. As a result of the deal, Nexxus will now own 100 per cent of the manager and the general partner of the fund and will continue controlling the activities of the fund going forward. Nexxus has also purchased the limited partnership interests in the fund of certain affiliates of Zephyr as well as those of other limited partners that invested in the fund. As part of the deal, Thomas Barry has resigned as a managing principal of the Fund, to be replaced by Roberto Langenauer and Alejandro Diazayas. Nexxus is based in Mexico City and was founded in 1995.
European buy-out firm 21 Centrale Partners has sold its majority stake in aluminium tubes and cartridge packaging company, Alltub, to company management and French private equity firm Naxicap. In April 2005, 21 Centrale, along with the management team, organised the carve-out of the Aluminium Packaging Division of Alcan Pechiney in a LBO. Alltub's revenues are close to €100m, according to a statement. 21 Centrale targets growth buy-outs in the French mid-market. The firm raised its third private equity fund in November 2006 with commitments of €330m.
Growth business investment specialist YFM Private Equity has exited its investment in medical diagnostics company Cozart following its acquisition by drug and alcohol testing-focused investment firm Concateno for £64.4m. YFM Private Equity's first investment was made in 2001. The firm manages over £300m in funds for both institutional and retail clients.
Buchanan Capital Partners has acquired a minority stake via capital increase in the sailing boat manufacturer Dehler. Financial terms of the deal were not disclosed. Wilan van den Berg will continue to be the majority shareholder of Dehler, having acquired the yacht company in 2004. The company recorded sales of €30m this year and employs around 150 workers. Wilan van den Berg acquired Dehler in 2004. Earlier this year Buchanan acquired the majority of the Lufthansa Cargo subsidiary Time:Matters, together with the management. Buchanan was established in 2006 and manages funds that invest companies in the German-speaking region.
Renewable energy investment firm Theolia has acquired 100 per cent of the share capital and rights of Italian wind developer Maestrale Green Energy, for €5m, plus a further payment depending on the number of megawatts of wind power it develops in the next three years. The current project portfolio of Maestrale is 500 MW. Theolia operates in France, Germany, Spain, Greece, Italy and several emerging countries through its subsidiary Theolia Emerging Markets, including India, Brazil, some Eastern European countries and Morocco.
US financial services-focused private equity firm Belvedere Capital, through itsBelvedere Capital Fund II and holding companyBelvedere SoCal, have jointly acquired Professional Business Bank. No financial terms were disclosed. Professional Business Bank is now a wholly-owned subsidiary of Belvedere SoCal, a new holding company created by Belvedere Capital to build the Southern Californian, small business-focused community bank. Belvedere Capital Fund II and former shareholders of Professional Business Bank now own approximately 56 per cent and 44 per cent of Belvedere SoCal, respectively. Since 1994, Belvedere Capital has purchased or invested in 17 financial services companies in the US.
NewDawn GSE Asset Management, a wholly-owned subsidiary of Dubai-based DIC Asset Management and the general partner for the $2bn Global Strategic Equities Fund has made an investment in consumer electronics and entertainment company Sony Corporation. Financial terms of the deal where not disclosed. GSEF is promoted by DIC Asset Management the asset management subsidiary of Dubai International Capital. The fund seeks to become a leading shareholder in global large capitalisation stocks, whilst aiming to create value through long term exposure to a concentrated portfolio of undervalued companies.
US financial services firm PrivateBancorp has placed $200m of equity securities to institutional and individual accredited investors led by a $100m investment from private equity firm GTCR Golder Rauner. Chicago-based financial services firm Mesirow Financial, through its affiliated entities, will also be a substantial strategic investor with a $40m investment. The remaining $60m will be invested by a number of businesses and individual accredited investors. All of the securities to be sold in the private placement were priced at the equivalent of $28.71 per common share. After completion of the transaction, GTCR will own approximately 7.2 per cent of PrivateBancorp, shares outstanding before conversion and 11.7 per cent after giving effect to the conversion. Mesirow will own 4.9 per cent As part of the deal, principal and head of its investment committee of GTCR, Collin Roche and James Tyree, chairman and CEO of Mesirow Financial will be nominated to PrivateBancorp's board of directors.
Belgium venture firm GIMV has acquired a majority share in Dutch fashion retail chain Ter Stal, for an undisclosed sum. Ter Stal has 152 shops across the Netherlands, with 450 employees. In 2007 the company recorded a turnover of €50m. GIMV invests in information and communication technology, life sciences and growth financing and MBOs of companies in more traditional sectors. The firm currently manages around €1.5bn of assets, including third party funds.
US asset manager Resource America, through its Philadelphia-based commercial finance subsidiary, LEAF Financial Corporation, has agreed to acquire the business of Dolphin Capital, an equipment finance subsidiary of Lehman Brothers Bank for approximately $167m, including a portfolio of small ticket leases to be acquired by LEAF and investment partnerships managed by LEAF. With the addition of Dolphin, LEAF's assets under management will increase to nearly $1.7bn, according to a statement.
Norwegian private equity group Norvestor Equity has created a new Nordic chain of laser eye surgery clinics in a merger of seven clinics in Sweden and Norway. These include Swedish clinic Globen Ögonklinik and the Norwegian clinics Argus Øyeklinikk and Sandvika Øyelegesenter. Globen Ögonklinik is Sweden's largest eye surgery company with clinics in Stockholm, Gothenburg and Örebro. Argus Øyeklinikk has clinics in Oslo and Skien, while Sandvika Øyelegesenter has one clinic in Sandvika. The new enterprise will have over 100 employees and an expected turnover of some SEK150m ($24m), according to a statement. Norvestor focuses on making private equity investments in strong growth companies in the Nordic mid market.
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