PRINT THIS PAGE Weekly Deals and Funds Roundup: 13 February 200813/02/2008. 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. DEALS
Investment firm Edgeview Partners has sold wholesale company HD Supply's Lumber and Building Materials Division to Pro-Build Holdings, a supplier of building materials to professional contractors. Financial terms of the deal were not disclosed. A private equity consortium that includes The Carlyle Group, Bain Capital and Clayton, Dubilier & Rice acquired HD Supply from The Home Depot in August 2007.
VC Fonds Berlin, the venture capital investment initiative of Berlin bank Investitionsbank Berlin has led a round of financing for German software company semgine. The undisclosed sum will help the company intensify its sales activities for its product lines that target the life sciences market, according to a statement. semgine develops software frameworks to build semantic knowledge assistants for Web 3.0. The company's previous round of equity funding - also from VC Fonds Berlin and private investors, took place in May 2007. The firm focuses on investments in young technology-related companies in Berlin.
Praesidian Capital Investors, a provider of mezzanine capital for small and mid-sized companies, has provided $8.5m of senior subordinated debt and $250,000 of equity to support the recapitalisation of Californian orbital welding company Arc Machines, by Marwit Capital and AMI Management. Praesidian invests in established companies often in connection with an MBO, LBO, recapitalisation or refinancing. Based in New York City, the firm manages over $400m in capital.
The Riverside Company, along with several other investors, has backed Sage Holdings in the acquisition of financial communications firm, M:Communications and of a global proxy solicitation firm D.F. King & Co. Financial details were not disclosed. Established in June 2007 in Munich, Germany, Sage Holdings was created to support the global growth of a range of international communication businesses through acquisitions, investments, joint-ventures, strategic alliances and organic growth. The company has offices in Munich, London, New York City and Boston.
UK early stage media and technology investor Creative Ventures Group, along with Finance South West Growth Fund and other private investors, has closed a series B financing round in Coull, a provider of interactive online video publishing platforms. Financial terms were not disclosed. Creative Ventures invests high-net-worth individual investors' capital into early stage ventures and assists in their corporate management, focusing on ventures with capital investment requirements of below £2m. The Finance South West funds are managed by: YFM Venture Finance Limited (Growth Fund), and Finance Cornwall Fund Managers Limited (Business Loan Fund).
Fidelity Ventures has led a series C financing round of ticket exchange website Seatwave, raising $25m. Other investors included early-stage investor Atlas Venture and venture capital firm Mangrove Capital Partners. Fidelity Ventures manages over $800m from offices in Boston and London.
Chicago-based private equity firm Industrial Opportunity Partners has invested in Beaumont, Texas based Gulf Coast Machine & Supply Company to support a recapitalisation. Gulfco is a manufacturer of large forgings for use in the oil and gas, petrochemical, wind energy and general industrial markets. Financial terms of the transaction were not disclosed. IOP's investment is in the form of subordinated debt and preferred equity, and will result in IOP having a significant ownership interest in Gulfco. As part of the deal, IOP board member Nicholas P Galambos will take on the role of chairman of Gulfco.
Independent European private equity firm Argos Soditic, through its Euroknights IV fund has sold Swiss cable machinery producer Maillefer Extrusion to Alpha Groupe in a secondary buy-out for an undisclosed sum. Argos Soditic acquired Maillefer in 2001 in a spin-off from Nextrom, a listed vehicle majority owned by Nokia, in an MBO. In 2006, Argos Soditic closed its most recent fund, Argos Soditic V, on €275m.
Alliance Data Systems Corporation has dismissed its lawsuit against Aladdin Solutions and Aladdin Merger Sub, the acquisition entities formed by The Blackstone Group to acquire Alliance Data. The lawsuit sought to compel Blackstone to proceed with the acquisition of the company, pursuant to the terms of a 17 May 2007 merger agreement. Though the lawsuit has been dropped, there is no assurance that an acceptable solution will be obtained or that the merger will be completed, Alliance Data said.
London-headquartered Standard Chartered Private Equity, the private equity arm of Standard Chartered Bank, has purchased a minority stake of approximately 4.2 per cent in independent exploration and production company Salamander Energy, for an undisclosed sum. The investment was acquired from one of Salamander's pre-IPO investors in an off-market transaction. Salamander has built a South East Asia-focused portfolio of oil and gas opportunities spanning production, development and frontier exploration over the last three years.
Independent mezzanine and private equity firm Mezzanine Management has invested €18.6m in W.I.S. Group, a provider of security services, technology and systems to businesses in Germany. The investment, made alongside lead investor Argantis, the Cologne, Germany-based private equity fund, will include equity and mezzanine capital to support the MBO of the company. The former shareholders will retain a stake in the business. This is the eighth investment from the firm's MM Fund IV and follows recent investments in Baxter Storey, a UK contract caterer in December 2007 and TNT Crane & Rigging, a crane and rigging operator based in Houston, Texas in November 2007.
Falconhead Capital, a private equity firm specialising in investments in consumer-focused businesses in the sport, leisure, lifestyle and media has agreed to acquire Inside Communications, a publisher of competitive cycling and triathlon publications. Upon completion of the transaction, ICI's publications, events and other operations will become part of Falconhead Capital portfolio company Competitor Group, whose publishing assets include Elite Racing, Triathlete Magazine and Competitor Publishing.
Warburg Pincus has acquired a further $300m in shares of MBIA, following its previous acquisition of 16.1 million shares for an aggregate amount of $500m. MBIA is a financial guarantor and financial services provider. Warburg Pincus has approximately $20bn of assets under management with an additional $10bn available for investment. The firm invests in sectors in including healthcare, consumer and retail, industrial, financial services, energy, real estate and technology, media and telecommunications.
Business development company Allied Capital Corporation has invested $44m of secured second lien debt in the recapitalisation of US towing and recovery company United Road Towing by private equity firm Milestone Partners. URT has been a portfolio company of Milestone since 2005. Milestone, founded in 1995, is a private equity firm based in Philadelphia, which invests in manufacturing, distribution and services companies with valuations of up to $100m. Milestone is currently investing Milestone Partners II, a $120m lower mid-market buy-out fund. Allied Capital Corporation has also invested $68m of secured second lien debt plus a minority equity co-investment to support the buy-out of US sportswear company Augusta Sportswear Group by private equity firm Quad-C Management. Charlottesville, Virginia-based Quad-C is currently investing its $1bn Quad-C Partners VII fund.
Scottish technology commercialisation and investment management company Braveheart, has led a £2m funding round into technology company Elonics Limited. Other investors included the Scottish Venture Fund and private investors. Braveheart was formed in 1997 by four Scottish businessmen as a co-investment vehicle. The firm's portfolio ranges from start-up companies to businesses which are close to an IPO or sale. The Scottish Venture Fund provides investments of up to £2m per transaction in partnership with the private sector, typically between £2m and £10m.
Private equity investment company Pearl Holdings has made a direct equity investment into casino entertainment company Harrah's Entertainment alongside private equity firms Apollo Management and Texas Pacific Group. Financial terms of the transaction were not disclosed. Pearl Holdings was established in 2000 and has since raised €660m, over three closings.
Atlanta, Georgia-based private equity firm Argonne Capital has acquired restaurant franchise chain Stevi B's Pizza for an undisclosed sum. Stevi B's Pizza has 28 outlets across seven US states. Argonne Capital has $60m of capital under management.
Chicago-based private equity firm TMB Industries has acquired iron casting company Prospect Foundry. Terms were not disclosed. The deal represents the third foundry TMB has acquired in the last twelve months. Prospect Foundry, located in Minneapolis, Minnesota, supplies to manufacturers in the construction, mining, transportation and agricultural industries. TMB invests in industrial businesses and has acquired 42 companies since 1989.
New York-based private equity firm Arsenal Capital Partners has made a $30m investment in online consumer lender FirstAgain. The San Diego-based company offers the AnythingLoan, a paperless, consumer loan. The co-founders of FirstAgain, CEO Gary Miller and president and COO Dave Zeller, previously founded online auto lender PeopleFirst.com, which was sold to Capital One in 2001. Arsenal Capital invests in mid-market specialty industrial, healthcare and financial services companies.
Energy-focused private equity firm First Reserve Corporation has agreed to establish a strategic joint venture company with independent tank terminal operator Royal Vopak for the Freeport oil terminal facility, known as Borco oil terminal, on the Grand Bahama Island. Financial terms were not disclosed. As part of the deal, Vopak will acquire a 20 per cent interest in the terminal, which will be named Vopak Terminal Bahamas and will be operated as an integral part of the Vopak network. First Reserve generally targets investments in global energy companies with enterprise values of up to $10bn.
Republic Private Equity, a Denver-based private equity firm has acquired metal service centre Camalloy, for an undisclosed sum. RPE is providing capital and will partner with the existing Camalloy management team. This is RPE's second investment in the metals service centre sector. RPE invests in small-market, privately held companies and has significant experience in the manufacturing, distribution and general industrial and business services sectors.
Privately held acquisition firm RiverRock Holdings has acquired medical billing software company Dynamic Energy Systems. Financial terms of the transaction were not disclosed. As part of the deal, Geoff Kearney, a partner at RiverRock Holdings, will take on the role of CEO at DES.
Halyard Capital, a New York-based private equity firm, has closed its acquisition of HCPro, from The Riverside Company. Terms of the transaction were not disclosed. HCPro provides integrated informational, educational, training and advisory products and services in the healthcare compliance, regulation and management areas. The company has completed 20 add-on acquisitions since 2003. Halyard Capital has over $600m of capital under management, focused on leveraged buy-out and growth equity investment opportunities within the media, communications and business services industries.
FUNDS
Nordic venture capital firm Inventure has held a preliminary closing on its Inventure Fund, on €35m. The fund has a target of €50m and will target early-stage technology investments in the Nordic countries, primarily Finland. Investors in the fund include European Investment Fund and Finnish Industry Investment among several institutions and private investors. Inventure aims to invest the fund in 15 high-growth companies, according to a statement. The firm typically invests between €1m and €3m per company.
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