PRINT THIS PAGE Weekly Deals and Funds Roundup: 27 February 200827/02/2008. 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
Baltic private equity investor BaltCap Management has acquired the Interinfo group of companies from Interinfo Holding, a holding company owned by private equity firm TPG. Terms of the deal were not disclosed. Interinfo provides telephone directories in the Baltic region and also provides print, internet and directory assistance products. The company has operating companies in Estonia, Latvia and Lithuania with an annual turnover of €15.5m in 2007, according to a statement. BaltCap focuses on mid-market expansion capital and buy-out investments in the Baltic States. To date, the firm has managed four private equity and venture funds with total capital of €130m.
New York-based private equity firm Arsenal Capital Partners has completed its acquisition of Charter Brokerage Holdings from Summit Park Partners and senior management. Charter Brokerage Holdings is a non-asset-based third-party logistics provider to the North American petroleum and related industries. The senior management team of Charter, including CEO William Phelan and executive vice presidents Michael Mitri and CR Waid are maintaining a significant ongoing entity interest. Financial terms of the deal were not disclosed, though equity financing for the transaction was provided from Arsenals' $500m Fund II. Arsenal invests in mid-market specialty industrial, healthcare and financial services companies.
UK private equity firm Impax Asset Management has invested £4m in UK-based waste treatment and resource recovery company New Earth Solutions. New Earth Solutions has a 50,000 tonnes per annum facility operating in Canford, Dorset, supported by waste management contracts with Bournemouth Borough Council and Bristol City Council. Additionally, a new facility is under construction in Kent and contracted to receive source segregated organic waste from Kent and Essex County Councils. Impax has made the investment on behalf of two of its funds under management, Impax Environmental Markets and Impax Environmental Markets (Ireland). The two funds combined have assets under management above £600m.
Lion Capital has agreed to acquire a 32 per cent stake in Swiss bakery businessHiestand Holding, for an undisclosed sum. The company provides deep-frozen bakery products in Switzerland, Germany, Austria, Poland, Malaysia, Japan and Turkey. Headquartered in London, Lion Capital focuses on the consumer sector, with ownership of a diverse group of branded consumer businesses, including baked goods company Vaasan & Vaasan and Weetabix.
Venture firm Trident Capital, together with its investment partner in China, Mustang Ventures, is leading a $2.5m Series A financing round for China-based geotechnical services company Tiandi Energy. Tiandi is a spin-out of oil-related information services business HIS. Mustang Ventures is a China-focused venture firm investing in early stage companies. Trident Capital is currently investing its most recent fund, the $400m Trident Capital Fund VI. The firm focuses on investments in business services, information services, software sectors, internet and cleantech across a variety of industries.
21 Centrale Partners has joined with equity investor Quadriga Capital and Austrian underwear business Palmers, to acquire French lingerie company Lejaby, for €45m. 21 Centrale targets growth buy-outs in the French mid-market. The firm closed its third private equity fund in November 2006, on €330m.
Accrue Sports and Entertainment Ventures, a strategic investment and advisory firm targeting strategic investment opportunities with next-generation sports-related companies, has been launched by Bryant McBride, Steve Solomon, Doug Perlman and Paul Levy. McBride is an entrepreneur who recently facilitated four successful exits in the sports industry including the sale of FanNation to Time Warner/Sports Illustrated. Solomon was anexecutive with the NHL, ABC Sports and Univision. Perlman is a former senior executive at both the NHL and most recently as president of IMG Media, North America. Levy completes Accrue's management team, bringing experience as an entrepreneur and most recently as a principal investor at a private equity fund.
Zurmont Madison Private Equity is to acquire high-end metallurgy specialist SMB, appointing Raymond-Jean Lacoste as new CEO. Financial terms were not disclosed. The acquisition by Zurmont Madison will take place as part of a succession solution. Zurmont Madison Management focuses on the financing of business successions, MBOs and spin-offs of group companies in Switzerland, Germany, and Austria.
French private equity firm AtriA Capital Partenaires has sold glass container company SGCC to holding company Tiama in an LMBO backed by private equity firm LBO France. Following the deal, LBO France will become the majority shareholder in the new group, while both the management teams of Tiama and SGCC together own 30 per cent of the group. Financial terms were not disclosed. Headquartered near Paris, SGCC has a turnover of nearly €40m and some 80 staff, according to a statement. Managed by Luc Boulant, SGCC was acquired by its management and AtriA Capital Partenaires in an LBO in early 2005. Tiama was founded in 2003 with the LBO acquisition of MSC by LBO France in 2007.
French venture capital firm Sofinnova Partners has invested in technology troubleshooting company PC30. Financial terms of the deal were not disclosed. As part of the deal, Olivier Sichel of Sofinnova Partners has joined the company's board of directors. To date, Sofinnova has invested €900m in technology companies.
CGS Management has acquired industrial manufacturer Rieter's activities in machinery and systems for manufacturing plastics granulates, the Grossostheim, Germany-based Rieter Automatik. Financial terms were not disclosed. As part of the deal, all interests in Rieter Automatik, including all patents, trademarks and regional distribution channels and service centres will be acquired by CGS. The firm is also acquiring the manufacturing facilities in Germany and the global sales and marketing activities. Rieter Automatik employs a workforce of 230 and generated sales of some €70m in 2007, according to a statement. CGS Management is the investment advisor to private equity fund CGS Private Equity Partnership II.
H.I.G. Europe, the European affiliate of private equity firm H.I.G. Capital, has backed facilities management company Europa Facility Holdings, in a deal worth £25m. H.I.G. has also made a significant capital commitment to support Europa's acquisition programme, according to a statement. The deal marks H.I.G.'s first investment in the UK market since it closed its dedicated European fund, H.I.G. European Partners, on €600m in July 2007. As part of the transaction, Europa has acquired United Utilities FM, the facilities management division of United Utilities, which will operate under the Europa brand.
European venture firm Advent Venture Partners has invested in the $24m Series D funding of US wireless USB company Wisair. Advent is joined in the financing round by Susquehanna Growth Equity, Yasuda Ventures and Bridge Capital Fund of Japan (an affiliate of Nikko Antfactory). The fundraising round follows previous investments totalling $48m. Also taking part in the investment round are Wisair's existing investors including Apax Partners, Broadcom, Intel Capital, Vertex and Zisapel brothers from the RAD group.
PolyTherics, a biopharmaceutical spin-out company from Imperial College London and the London School of Pharmacy, and Celtic Pharma Development Services Bermuda, a subsidiary of private equity investment fund Celtic Pharmaceutical Holdings have entered into a research collaboration agreement. Under the terms of the agreement, PolyTherics' proprietary drug modification technologies will be used to enhance certain of the innovative pharmaceutical products being developed by Celtic Pharma. The firm focuses on the biotechnology and pharmaceutical industries, acquiring and investing in late stage pharmaceutical programmes.
Belgian investment firm GIMV has acquired a 30 per cent stake in Brussels-based road builder Verhaeren and offers additional means for the group's further growth and expansion. The family shareholders will retain the remaining 70 per cent of shares. Financial terms of the deal were not disclosed. Group Verhaeren focuses on public works in Brussels and Flemish Brabant, but also concentrates on private infrastructure works. The company achieved a turnover of €38m, according to a statement, and has165 employees.
Nordic technology-focused venture firm Eqvitec Partners, through its Eqvitec Technology Fund III, has invested €3.5m as part of an MBO of network and security solutions provider Forte Netservices. Eqvitec will receive a minority stake in the company. The firm currently advises five funds with a total capital base of €440m.
Washington, DC-based private equity firm Arlington Capital Partners has acquired B2B information services company Virgo Holdings in partnership with the company's existing management team. Financial terms were not disclosed. Arlington Capital has over $1bn of committed capital focused on middle market buyout investment opportunities in growth industries including: Federal government services, business services and outsourcing, media, education, healthcare services and aerospace/defence.
US private equity firm The Gores Group has agreed to invest up to $100m in media content company Westwood One. As part of agreement, Westwood One has a 30-day period during which it may solicit other equity investment offers. The Gores Group is currently investing from its $1.3bn committed private equity fund.
Sun Capital Partners, a private investment firm specialising in LBOs has acquired the wet friction and aftermarket businesses of automotive braking system businessRaytech Corporation, for an undisclosed amount. The wet friction and aftermarket units will operate under the names, Friction Holdings, and PowerTrain Holdings, respectively.
Denver-based private equity firm KRG Capital Partners has completed a control investment in Universal Ensco and Pegasus International. Financial terms were not disclosed. Universal provides engineering, project management, survey, and inspection services related to onshore gas, oil and liquid product transportation systems. Pegasus also provides engineering and project management services to the oil and gas industry. The acquisitions represent the tenth platform company for KRG's $715m Fund III.
An investor group led by Kohlberg & Company and Canadian businessman W Graeme Roustan has agreed to acquire ice hockey equipment manufacturer Bauer for $200m, from Nike. Since its inception in 1987, Kohlberg has completed more than 45 platform investments and more than 50 add-on acquisitions, with aggregate transaction value in excess of $7bn. The firm is currently investing its sixth fund, the $1.5bn Kohlberg Investors VI.
US private equity firm Platinum Equity has agreed to acquire Industrial Distribution Group, a US supplier of maintenance, repair, operating and production products and services to manufacturers and other industrial users, in a deal worth around $113m, As part of the deal, Platinum equity will pay $10.30 per share in cash, acquiring all of IDG's outstanding shares and options and all company debt. Platinum Equity specialises in the merger, acquisition and operation of companies that provide services and solutions to customers in a broad range of business markets, including IT, telecommunications, manufacturing and entertainment distribution.
Private equity and investment banking firm Beringea has backed a £7m MBO of UK consumer electronic accessories distributor Path Group. Beringea backed the MBO through its ProVen VCT and ProVen Growth & Income VCT funds. As part of the deal, former group commercial director of Dyson Appliances Nick Pearch will take up the position of chairman of the company. Beringea director Jamie Kennell will also join the Path board as a non-executive director.
Sorenson Capital, a US private equity firm focused on providing small- to mid-market buy-outs and investments, has made an investment in food supplier Michael's Finer Meats and Seafoods, for an undisclosed amount. Sorenson Capital previously invested in Mountain City Meat. The firm focuses on opportunities in selected states in western US.
Mainsail Partners has backed an MBO of education and training solutions company IP Solutions. Terms were not disclosed. With approximately $150m under management, Mainsail targets MBOS, recapitalisations and growth equity investments.
FUNDS
Development companyWells Fargo Community Development Corporation, together with the Colusa Indian Tribe and the Rincon Indian Tribe, have formed First Nations Capital Partners, a specialised $25m private equity fund. FNCP is the first private equity fund in the US with tribal governments as its primary investors, owners and managers. California tribes, the Colusa Indian Community of Colusa, a gaming and farming tribe near Sacramento; and the Rincon Band of Luiseno Indians, owners of Harrah's Resort and Casino in Valley Center - in conjunction with Wells Fargo CDC, have agreed to become the lead investors in the fund. Each has committed to invest up to $5m in the fund over five years. Other Indian tribes and Nations are expected to commit between $1m and $5m each, while four to six individual investors are joining the tribes with a maximum investment of $250,000 each. The majority of the FNCP capital contributors are Indian tribes that want to diversify their investment portfolios in different industries and geographic regions. The fund intends to make eight to ten individual investments, averaging $2m to $3m each, in a variety of emerging, businesses.
Incubation Venture Partners, the venture capital arm of Incubate Group Corp., is in the process of forming its first fund, Azcatl Seed Capital Fund I, a potential $20m venture capital fund to finance development of original creative properties, including video games, toys, television and graphic novels. The fund will support early stage development of new cross-media or transmedia entertainment properties by making equity investments directly into production companies or into intellectual property holding companies owned by creators.
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