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Weekly Deals and Funds Roundup: 12 March 200812/03/2008. 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
Software company Highwinds Network Group has closed a $55m round of equity financing led by technology-focused venture firm General Catalyst Partners and media and communications private equity firm Alta Communications. The financing will fund the infrastructure build-out of Highwinds' RollingThunder network, including a content delivery network offering.
Stonehenge Capital has acquired US steel fabricator Dixie-Southern Constructors, for an undisclosed sum. As a part of the deal, former Whirlpool division vice president Stanley Kinnett has been appointed as president and CEO of the new company. Stonehenge Growth Capital represents the private equity, lending and venture capital group of Stonehenge Capital Company.
21 Centrale Partners, through its private healthcare-specialised holding Almaviva Santé has acquired two French private hospitals in Marignane and Vitrolles. Almaviva Santé was created in June 2007 in partnership with Bruno Marie, a former CEO of French retirement group Medidep. Its first acquisition was orthopaedics and ophthalmology clinic Clinique Chantecler. Almaviva Santé now operates three private hospitals with a capacity of 340 beds generating a turnover in excess of €36 million, according to a statement. Investment firm 21 Centrale Partners raised its third private equity fund in November 2006, on €330m. 21 Centrale Partners is part of the 21 Group, an international equity investment group led by Alessandro Benetton and Gérard Pluvinet.
Metalmark Capital, a private equity firm investing in industrials, healthcare, energy, natural resources and financial services, through its portfolio company Cantera Resources Holdings, has sold 3.2 million units of Copano Energy for an undisclosed sum. The units were purchased by institutional investors, including Magnetar Capital, funds managed by Kayne Anderson Capital Advisors, ING Investment Management and the RCH Energy Funds. Cantera initially acquired the units in connection with the sale of its former portfolio company Cantera Natural Gas to Copano Energy in October 2007. At the same time, Cantera also sold its Canyon Natural Gas subsidiary to Energy Transfer Partners in a separate transaction.
Aureos South-East Asia Fund has invested $3.7m in Thai steel fabrication company Eurotech Engineering International. ASEAF is an initiative of Aureos Capital, a private equity fund management company specialising in investing in small to mid-cap businesses in emerging markets.
Specialty pharmaceutical company EKR Therapeutics has completed the private placement of $50m in Series D equity while also securing $95m senior secured credit facility from GE Healthcare Financial Services. The equity funding round was led by new investors MPM Capital and LLR Partners. Also participating were prior investors Quaker BioVentures and the Garden State Life Sciences Venture Fund managed by Quaker, and also original institutional investors NewSpring Capital and ESP Equity Partners. As part of the equity financing, Steven St Peter, general partner at MPM Capital, and Scott A Perricelli, partner at LLR Partners, have joined the EKR board of directors.
An investor group comprising affiliates of metals and minerals company Traxys North America, private equity firms Pegasus Capital Advisors and Kelso & Company has agreed to acquire Powell Mountain Coal Company, Dulcimer Land Company and Kanawha River Terminals from Progress Energy, for $94m in cash. Powell Mountain Coal Company and Dulcimer Land consist of approximately 30,000 acres of land with approximately 40 million tonnes of coal reserves. Kanawha River Terminals operates five river terminals located on the Ohio River and its tributaries.
Biopharmaceutical company BrainCells has completed a $30m initial closing of Series B financing. Venture firm MedImmune Ventures joined previous investors Bay City Capital, Oxford Bioscience Partners, Technology Partners, Pappas Ventures and Neuro Ventures in the round. As a part of the Series B financing, BCI also announced the addition of William Bertrand, Jr, senior vice president and general counsel of MedImmune, to its board of directors.
Wireless hardware and software business Altierre Corp has completed a $22m Series C round, led by alternative investment firm The Galleon Group. Previous Altierre investors ATA Ventures, the D. E. Shaw group, Dupont Capital Management and Labrador Ventures also participated in the round. Altierre has attracted $39m in funding from venture investors in the past 12 months, and has raised a total of $52m to date.
Adult social networking company Zivity has raised $7m in Series B financing from venture capital firms BlueRun Ventures and Founders Fund. John Malloy, partner and a founder of BlueRun Ventures and Luke Nosek, managing partner at Founders Fund, will join Zivity co-founders Scott Banister, Cyan Banister and Jeffrey Wescott on the company's board of directors. BlueRun Ventures, which led the round of financing, has previously collaborated with Scott Banister at media network company Slide and online payment company PayPal.
Private equity firm KSL Capital Partners has acquired health club and sports resort company Western Athletic Clubs for an undisclosed sum. The company operates nine facilities in the San Francisco and San Diego, serving over 50,000 members. KSL Capital Partners specialises in travel and leisure enterprises in sectors including hospitality, recreation, clubs, real estate and travel services.
Special purpose acquisition vehicle Israel Growth Partners Acquisition Corporation and semiconductor business Negevtech have jointly established a new publicly held entity, Negevtech. The transaction will allow Negevtech to access the public markets to accelerate its growth strategy and take advantage of strong industry growth trends, according to a statement. Following the transaction, Negevtech will have access to the approximately $55m currently held in IGPAC's trust account, which will be used for its working capital.
CoVant, a newly formed private equity partnership has completed its first acquisition, arms software business A-T Solutions. Financial terms of the deal were not disclosed. CoVant was founded by former executives of Anteon International and CI Capital Partners, and was created to bring financial resources, strategic guidance and management expertise to emerging technology companies in the defence, homeland security and intelligence communities. In addition to Joseph Kampf and other executives from Anteon, CoVant has a board of directors including former Anteon directors Dr. William Perry, Gen H Hugh Shelton, Gen Paul Kern, Dr Paul Kaminski and Gilbert Decker. The A-T Solutions management team is retaining a significant equity position. As part of the deal, Kampf and Gen Shelton will join the A-T Solutions' board of directors.
Mid-market private equity firm Kirtland Capital Partners has entered into an agreement to sell Essex Crane Rental Corp to Hyde Park Acquisition Corp for $210m. Kirtland acquired Essex in May of 2000. Essex has more than 400 cranes and attachments in its fleet and supplies cranes for construction projects related to power generation, petro-chemical, refineries, water treatment and purification, bridges, highways, hospitals, shipbuilding and commercial construction. Following its purchase, New York-based Hyde Park, will change its name to Essex Crane Rental Corp. and seek a Nasdaq listing. The Essex management team is expected to remain intact with Ron Schad continuing as chief executive officer. In December 2007, Kirtland sold International Graphics Inc. in an undisclosed transaction.
Sports medicine company Cayenne Medical has closed a $15m Series C financing led by venture firm Investor Growth Capital. Other participating investors include SplitRock Partners, MB Venture Partners and a group of private individuals. As part of the deal, Stephen M Campe, managing director of IGC, has joined Cayenne's. This round brings Cayenne's total private equity investment to $32m. Investor Growth Capital is the wholly-owned venture capital arm of Investor AB, a publicly traded industrial holding company, listed on the Stockholm Exchange.
Venture capital firm Bridges Ventures has announced its investment in vocational focused training provider New Career Skills. Financial terms were not disclosed. NCS focuses on aiding mature career changers in acquiring new skills and qualifications. The firm plans on expanding its operations nationally and adding new courses. This year, the company earned a profit of £1m, according to sources. Bridges Ventures invests in businesses that can achieve positive social impacts and financial returns. Carolyn Maddox and Anne-Marie Harris led the deal for Bridges and will join the board upon the transaction's completion.
Canada-based private equity firm TriWest Capital Partners has invested an undisclosed amount in KMC Mining Corporation. KMC's primary focus is the open pit mining sector of the Canadian oil sands. Other investors include KMC's senior management, Alberta Investment Management Corporation, ATB Investment Management and Kensington Capital Partners. TriWest focuses on equity investments in companies and works in partnership with management to increase growth and returns. AIMCo invests in public sector pension, endowment and special purpose funds. ATB provides wealth management services to corporate and institutional clients.
Mekong Capital, through its $100m Vietnam Azalea Fund has invested approximately $14m in Vietnamese residential housing company Investment and Trading of Real Estate Joint Stock Company, in a series of separate transactions. INTRESCO was formerly a state-owned company, belonging to Saigon Real Estate Corporation, under the Ho Chi Minh City People's Committee. The company was privatised in January 2001 and also owns two subsidiaries, Hai Au Concrete Joint Stock Company and INTRESCO Center for Real Estate Trading.
Following a successful IPO in November 2004 and two partial exits on the stock market, Nova Polonia Private Equity Fund and FMO, advised by the Krokus private equity team, concluded a final exit of all its remaining shares in Praterm via a sale to Dalkia Poland. Dalkia issued a public tender for 100 per cent of the company at a premium of about ten per cent over the current quoted market price and achieved a 98 per cent response from shareholders. In total, Nova Polonia and FMO generated €44m in cash from the three exits on a €10m investment which translates into a 4.4 times return and a gross IRR of 55 per cent, according to a statement.
Nordic technology investor Eqvitec Technology Fund II has agreed to invest an undisclosed sum in Norway-based KSD Software Norway. KSD Software provides solutions for customs clearance and external logistics systems in transportation, retail and trading industries. Eqvitec Partners is a technology-focused venture capital and private equity firm which participates in all phases, from start-up to buy-outs. In February 2008, Eqvitec invested €3.5m in Forte Netservices
Private equity firm Quilvest has acquired sushi chain YO! Sushi for an undisclosed sum. YO! Sushi, which currently has locations throughout the UK and abroad, plans to use the investment to accelerate its rollout plan. Mid-market private equity firm Primary Capital backed the original 2003 MBO of YO! Sushi for £10m. Luxembourg-based Quilvest focuses on privately-negotiated equity investments where it can support management in expanding the company.
Scandinavian-based private equity fund Procuritas Capital Investors III has sold 100 per cent of metal surface preparation equipment company DISA to private equity firm Mid Europa Partners. Financial terms were not disclosed. Procuritas has held a majority stake in DISA since 2005. According to reports, DISA more than doubled its earnings over the last three years and its annual turnover in 2007 was DKK1.3bn. Procuritas advises buy-out funds with committed capital in excess of SEK3bn. Mid Europa focuses on investments in Central and Eastern Europe. The firm is also an investor in Wheelabrator Group, another metal surface preparation company.
Finland-based Conor Venture Partners will invest an undisclosed sum in Eniram, a provider of next generation instrumental systems that improve vessel operations for the maritime industry. Conor Venture Partners is a technology focused private equity firm that invests in early-stage companies from Finland, Sweden and the Baltics. In August 2007, Conor invested in Aito Technologies.
FUNDS
Venture capital firm Kleiner Perkins Caufield & Byers has launched a $100m "iFund", in partnership with Apple. The fund will target investments in companies developing applications, services and components related to the iPhone and iPod touch platforms. Focus areas include location based services, social networking, mCommerce (including advertising and payments), communication, and entertainment. In November of last year, former US vice president and Nobel Peace Prize winner Al Gore joined the firm as a partner.
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