PRINT THIS PAGE Weekly Deals and Funds Roundup: 19 March 200819/03/2008. 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. GLG Partners has signed a memorandum of understanding with China and India-focused investment and strategic consulting company Origo Sino-India. The parties will explore the development of a broader strategic relationship focused on asset management and advisory opportunities in China, India and other emerging markets. The firms have agreed that Origo will provide GLG with research services for a period of three years for a fee of £3m that will include analysis, evaluation and generation of investment opportunities in the Chinese and Indian markets.
Chicago-based private equity firm Wynnchurch Capital has acquired a majority interest in industrial instrumentation and electrical service company The Surepoint Group. Surepoint marks the seventh platform investment for Wynnchurch's second fund, Wynnchurch Capital Partners II. Terms of the transaction were not disclosed. With capital under management in excess of $500m, Wynnchurch Capital specialises in MBOs, recapitalisations, corporate carve-outs, restructurings and growth capital investments.
Australia-based CHAMP Private Equity, an affiliate of New York-based Castle Harlan, has purchased mining and infrastructure company Golding Contractors for an undisclosed sum. Australia-based Golding was founded in 1942 and its 2007 revenues exceeded AUS$350m, according to a statement. As part of the agreement, CEO Trevor Davies will maintain an ownership stake in the company. CHAMP has invested in a variety of sectors, including satellite broadcaster Austar United Communications, casting foundry Bradken and soda ash producer Penrice.
Mekong Capital through its Mekong Enterprise Fund II will invest $5m in Vietnam-based fashion retailer MAISON Joint Stock Company. Launched in 2006, MEF II focuses on equity investments in unlisted companies. This transaction represents MEF II's sixth investment. Other investments include International Consumer Products, Ngo Han Magnet Wire, Mobile World, Venture International and MK Smart.
Private equity group Triton Pacific Capital Partners has acquired a majority stake in South Carolina, US-based software company AssetPoint for an undisclosed amount. AssetPoint is a spin-off of engineering, construction and maintenance firm Fluor Corporation. Los Angeles-based Triton Pacific mainly focuses on investments in SMEs.
Venture capital firm Balderton Capital has sold its 15.7 per cent stake in global social media network Bebo to AOL for approximately $140m. This sum is nine times the original investment, according to a statement. London-based Balderton focuses on technology-based entrepreneurial ventures such as Betfair, Codemasters, Habbo Hotel and Setanta Sports. The company provided first round financing of $15m to Bebo in May 2006.
Energy-focused private equity firms US Renewables Group and Riverstone Holdings have agreed to provide development capital for the Newberry Geothermal Project, owned by independent electric power company Davenport Power. The funds will be used to drill exploratory test wells to explore potential geothermal resource areas. The project is anticipated to ultimately produce renewable electrical energy to satisfy a 20-year, 120 megawatt contract with Pacific Gas & Electric Company, based out of California.
UK mid-market consumer private equity firm Langholm Capital has exited its investment in Dorset Cereals with its sale to Wellness Foods. Langholm Capital acquired the company in April 2005. Financial terms were not disclosed. Senior management will continue to be significant shareholders in the business.
UK mid-market firm Gresham Private Equity has sold PIMS Group to Inflexion. The sale will return 3.4 times Gresham's original investment, according to a statement. PIMS is involved in the sale, installation and service of submersible pumps for water sewage and drainage systems. Gresham led the £12m BIMBO in December 2004, alongside company management, led by Charlie White. Gresham will remain a minority shareholder.
Dutch fabless display manufacturing company Liquavista has completed an €8m Series B fundraising, comprising equity and debt. Existing investors Amadeus Capital Partners, GIMV and New Venture Partners all participated in the round. The company is based in Eindhoven, the Netherlands, and also has offices in the UK and Hong Kong.
UK private equity firm NBGI Private Equity has backed the MBO of UK mechanical and electrical engineering services provider T Jolly. This deal is the first for NBGI PE's Manchester, England office and is the second investment from NBGI PE's £100m second fund. As part of the deal, Joseph Bergin of NBGI PE will be joining the board. Financial terms were not disclosed.
Listed Nordic private equity firm Ratos has refinanced its holding in air filter company Camfil which will provide Ratos with a cash payment of approximately SEK450m (€47.7m). Ratos acquired a 30 per cent stake in Camfil in 2000.
UK small buy-out specialist Matrix Private Equity Partners, the small buy-out specialist, has set up a new venture initative to be run by five sector-specialist chairmen: Bob Fairchild, Ashley Levinson, Iain Livingston, Tim Ross and Dick Steele. The team is being given the first £5m of a £25m war chest for acquisitions, according to a statement. The new venture will source and complete new investment in companies requiring management succession typically with a turnover of between £5m and £30m. They will also consider undertaking buy-and- build transactions and roll-outs.
Nordic venture capital firms Northzone Ventures, Eqvitec and Creandum have invested €15m in Swedish cleantech company Norstel. Norstel manufactures and develops bandgap semiconductor materials, including silicon carbide wafers. Northzone invests in early stage technology companies. Eqvitec focuses on investments in all phases of technology companies. Creandum targets investments in early stage technology firms.
Syntaxis has provided mezzanine capital for the acquisition of Romanian generics manufacturer LaborMed, by Central European private equity investor Advent International. The €15m financing represents the second investment out of Syntaxis' Syntaxis Mezzanine Fund I, following the growth financing of Advent-owned Polish debt collection business Ultimo in October 2007. Private equity investor Advent International recently acquired Romania's independent generics manufacturer LaborMed through €15m of funds from the Syntaxis Mezzanine Fund. This investment is Syntaxis' first with Advent in Romania.
Private equity firm Henderson Equity Partners has invested $21.5m in Indian agrochemical company Sharda Worldwide Private Export. Sharda registers and markets off-patent agrochemicals across the fungicide, herbicide, and insecticide sectors. Henderson plans to expand Sharda into other regulated markets including China, Europe, and the US. Henderson Equity Partners is the private equity operation of Henderson Global Investors.
Fidelity Equity Partners has invested $37m in London-based Complinet Group for a minority stake in the company. Complinet provides online regulatory solutions for the global financial services industry. As part of the deal, Sebastian McKinlay and Stephen Findlay, partner and vice principal for Fidelity Equity respectively, have joined Complinet's board of directors. Fidelity focuses on investing in established, high-growth mid-sized business in North America and Europe. Complinet is Fidelity Equity Partners' second European investment by its London office, which was launched in September last year.
Forward Ventures, JAFCO and Novartis Venture Fund have led a $28m Series C financing round for pharmaceutical company LigoCyte Pharmaceuticals. Montana-based LigoCyte develops vaccines for important gastrointestinal and respiratory markets. It will use the financing to further clinical development of its vaccines against norovirus and influenza. Other investors include Fidelity Biosciences, MedImmune Ventures, Athenian Venture Partners and MC Life Sciences Ventures. As part of the deal, Ivor Royston, founding managing member of Forward Ventures, will join the board as chairman.
Silicon Valley-based ePlanet Ventures has invested an undisclosed amount in Dubai-based FRiENDi Mobile. FRiENDi is a mobile virtual network operator in the MENA region. As a result of the deal, Asad Jamal, chairman and CEO of ePlanet Ventures, and Ayaz ul Haque, managing director, will join the board of directors. ePlanet Ventures focuses on investments in the internet, wireless communications and applications, VoIP and broadband services, entertainment, semiconductor design and life sciences sectors.
Boston and San Francisco-based HLM Venture Partners has led a $20m Series C financing round for digital pathology and healthcare firm Aperio Technologies. Other investors in this round include Galen Partners, Advanced Technology Ventures, Acadia Woods Partners and BlackRock Alternative Advisors. As part of the deal, Martin Felsenthal, a partner at HLM Venture, will join the Aperio board of directors. HLM Venture provides venture capital to emerging companies focused on healthcare information technology, healthcare services and medical technology.
Alimera Sciences has closed a Series C financing round of $30m with all five of the company's existing venture capital firms exercising the right to participate at their full pro rata share. Investors include BA Venture Partners, Domain Associates, Intersouth Partners, Polaris Venture Partners and Venrock Associates, and also several individual investors. The proceeds from the round will enable Alimera to, as previously announced, acquire a majority stake in Medidur, the company's Phase III investigative treatment from development partner pSivida and fund the remaining development obligations for the product.
New York-based lower-mid-market firm Wincove Capital has acquired wire and cable company Connect-Air International for an undisclosed amount. Connect-Air has seven distribution facilities across the US, located in Washington, Oregon, Northern California, Southern California, Arizona, Georgia and Massachusetts. HighPoint Capital provided the senior credit facilities to support Wincove's acquisition and also co-invested in the equity. Fidus Capital also invested subordinated debt and preferred equity in the transaction.
GW Equity, an advisor to privately held and family-owned businesses for mergers, acquisitions, and strategic growth initiatives, has sold Deerfoot Equipment Rental, a provider of heaters, generators and compact construction equipment, to WesternOne Equity Income Fund, a private equity group based in Vancouver, British Columbia. The value of the transaction was not disclosed.
3i Quoted Private Equity has agreed to acquire a 19.5 per cent stake in Phibro Animal Health Corporation for $52.7m. PAHC is a manufacturer and marketer of animal health and nutrition products. 3i Quoted Private Equity is a Jersey-incorporated, public closed-ended investment company, advised in its investments by 3i Investments. The firm raised around £400m in an IPO last year.
Private equity firm North Castle Partners, along with its co-investors, has acquired Canada-based International Fitness, known as World Health Club. Terms of the investment were not disclosed.
Denver, US-based private equity firm KRG Capital Partners has acquired Tronair, a US-based maker of ground support equipment for business, regional and commercial aircraft, from Atlanta-headquartered private investment firm River Capital. No financial terms were disclosed. River Capital acquired Tronair in 2000. Under River Capital, the company made two add-on acquisitions, Arvico in 2003 and JETporter in 2006. Tronair also now has sales offices and service centres in Asia and Europe.
US semiconductor company eASIC Corporation has raised $48n in late stage financing. The financing round was lead by Advanced Equities Incorporated. Also participating in the round were previous investors Khosla Ventures, Kleiner Perkins Caufield and Byers, Crescendo Ventures and Evergreen Venture Partners. The eASIC CFO, Craig Klosterman, also invested in this round.
Private equity group Triton Pacific Capital Partners has acquired a majority interest in software business AssetPoint for an undisclosed sum. LA-based Triton Pacific Capital Partners was founded in 2001. Triton Pacific maintains a majority investment in 14 private equity companies with an enterprise value of $150m at the time of their acquisition.
Apollo Management, through its Asia-focused Apollo Asia Opportunity Master Fund has taken a 20 per cent stake in Perth-based integrated investment banking house Argonaut. Financial terms were not disclosed. Founded in 1990, Apollo Management has more than $41bn of assets under management.
Online shopping business Reevoo has secured investment from French venture firm Banexi Ventures Partners. Existing investors, including Eden Ventures, are also committing> Financial terms were not disclosed. Banexi previously backed Kelkoo, the price comparison site sold to Yahoo for €470m in 2004. Banexi invests in Europe in different sectors including IT, electronics, semi-conductors and life sciences.
Private equity firm Norwest Equity Partners has invested $75m in Chicago-based Pangaea Asset Management. Pangaea focuses on managing leveraged mid-market loan investments. Since NEP initially invested in Pangaea in fall 2007, the company has entered into add-on acquisition agreements with 250 Capital and CapitalSource Advisors. NEP focuses on equity investments in growing and profitable mid-market companies through MBOs, recapitalisations and growth financings. It is currently investing its $800m NEP VIII fund.
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