PRINT THIS PAGE Weekly Deals and Funds Roundup: 9 April 200809/04/2008. 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. Quicksilver Ventures has led a $20m new equity financing round for California-based Aperto Networks. Other investors included Gunn Allen Venture Partners, JK&B Capital, Canaan Partners, Alliance Ventures, Innovacom, JAFCO Ventures and Labrador Ventures. Aperto builds WiMAX base stations and subscriber units. Quicksilver is based in California and targets investment in the IT and technology sectors.
Yahoo! has led a $20m Series B financing round for Cambridge, Massachusetts-based Vlingo Corporation, a voice-powered user interface that provides access to mobile phone wireless data services. Other investors included venture capital firms Charles River Ventures and Sigma Partners.
Investment firm Audax Group has sold Las Vegas-based Silver State Materials to California Portland Cement Company. Audax originally acquired the company in an MBO in 2006. Silver State provides ready-mixed concrete and aggregates for residential and commercial construction in the Las Vegas market. Boston and New York-based Audax focuses on investments in mid-market companies.
Italian private equity firm BS Private Equity has agreed to sell 100 per cent of security and surveillance firm Sicurglobal to London-based Stirling Square Capital Partners, generating a 2.5 times multiple, according to sources. BS first acquired Sicurglobal via an MBI in 2004. Sicurglobal reported revenues of $165m in 2007.
Private equity firm Norwest Equity Partners has acquired sport protection provider Shock Doctor for an undisclosed amount. Minnesota-based Shock Doctor produces sports protective gear for hockey, football, baseball, lacrosse and motorsports. It was previously a portfolio company of Minneapolis-based Hillcrest Capital Partners. NEP focuses on investments in profitable mid-market companies through MBOs, recapitalisations and growth financings.
SK Capital Partners, an affiliate of merchant bank Valence Group, has acquired Kentucky-based Aristech Acrylics from Mitsubishi Corporation for an undisclosed amount. Aristech supplies acrylic sheets and solid surface products that are used in a building and industrial applications. SK Capital focuses on acquiring companies in the specialty chemical sector, including building materials, electronic chemicals, plastics and specialty materials, personal care and nutritional/agricultural and healthcare sectors.
3i has led a $60m Series E financing round for digital marketing optimisation solutions provider Coremetrics. Coremetrics will leverage the additional capital to build upon sales growth and accelerate marketing initiatives, according to a statement. Existing investors Accel Partners, FTVentures and Highland Capital Partners also participated in the round. Coremetrics provides online analytics and precision marketing applications.
Energy-focused private equity firm First Reserve Corporation has invested in Kenersys, a newly formed integrated wind energy company focused on the design, assembly and marketing of wind turbine generators. Financial terms were not disclosed. Kenersys is owned by Indian auto component business Kalyani Group. First Reserve focuses on investments in the renewable energy sector.
Nomura Private Equity has led a $33m Series C preferred stock investment round for Houston-based DeepFlex. DeepFlex manufactures composite pipe for use in deepwater and ultra deepwater oil and gas production. Other new investors include Heico Acquisitions and Promon International as well as existing investors Altira Group, Energy Ventures and CTTV Investments. Nomura focuses on mid and large-cap private equity investments in Europe, the US and Asia.
Stockholm-based private equity fund East Capital Explorer Financial Institutions Fund is to acquire 19.99 per cent of Russia-based FIA-Bank through a new share subscription. The transaction is valued at approximately €15.5m. East Capital is an asset management firm specialising in Eastern European financial markets. It has offices in Paris, Tallinn, Moscow, Oslo, Hong Kong, Milan and Vienna.
Specialist investor Iceni Capital has backed the secured buy-out and development funding of London-based Mentor IMC, a human resources provider to the oil and gas industry. Terms of the transaction were not disclosed. Mentor provides personnel in senior project management, engineering, construction, commissioning and operations roles. Iceni focuses on investments in business services firms.
Venture capital firm Arts Alliance has invested in search engine marketing automated technologies provider Kenshoo Limited. Terms of the transaction were not disclosed. Israel-based Kenshoo provides Kenshoo Search, which automated the creation and management of search marketing campaigns. According to sources, Kenshoo will use the investment to develop its business in the UK and increase its presence in the European SEM marketplace. Arts Alliance invests in companies in Europe, with a particular focus on technology-enabled services.
IDFC Private Equity Fund II, a fund managed by IDFC Private Equity, has invested INR400m (£5.09m) in carbon credit advisory firm Emergent Ventures India. EVI provides comprehensive solutions under the UN Clean Development Mechanism programme which range from project origination to assistance with project implementation and the monitoring/delivery of emission receipts. According to sources, EVI will use the funding to enhance its existing businesses in South and Southeast Asia and to build the company's engineering, procurement and constructions capabilities. IDFC focuses on infrastructure investments in India.
Private equity firm AAC Capital Partners has acquired a stake in engineered technical textiles manufacturer James Dewhurst. Financial terms of the deal were not disclosed. Lancashire, UK-based Dewhurst manufactures woven and non-woven textiles. According to the deal, the Brierley family, owner of Dewhurst, is also reinvesting in the company and will retain a significant stake. AAC operates from the Netherlands, UK and Sweden. It focuses on MBOs and MBIs of Northern European companies valued between €50m and €500m in the industrial, services and consumer sectors.
VentureTech Alliance has led a $40m Series D investment round for energy-saving LED technology supplier Bridgelux. The round included $30m in private equity investment and $10m in bank lines of credit. Bridgelux will use this funding for product development and market expansion, according to sources. Other investors included DCM, El Dorado Ventures, VantagePoint, Chrysalix Energy Venture Capital and Harris & Harris Group. VentureTech focuses on early stage investments in companies in the semiconductor industry and other related technologies.
AXA Private Equity has acquired the Active Ingredients and Specialty Chemicals division of Atrium Innovations for $155m. As part of the deal, the main office of Active Ingredients will remain in Quebec City under Charles Boulanger, president of the division. Atrium develops, manufactures and markets science-based products for the health and nutrition markets. AXA provides funds for buy-outs, expansion capital, venture capital, co-investments, infrastructure, mezzanine, primary, early secondary and secondary fund of funds. It has offices in Paris, Frankfurt, London, Milan, New York and Singapore.
Colorado, US-based Gores Equity has acquired managed IT services provider CBET Technologies. The terms of the deal were not disclosed. Rhode Island-based CBE provides IT services for state governments, municipalities, educational institutions and small to mid-size business. Gores Equity focuses on acquiring controlling interests in mature and growing business.
Tokyo-based private equity firm Advantage Partners has acquired 100 per cent of automotive leather supplier GST AutoLeather from SILLC Holdings. The terms of the transaction were not disclosed. Michigan, US-based GST provides leather upholstery for automotive seating and trim and supplies Toyota, Honda, GM, Chrysler, Ford, Volkswagen, SAIC and Nanjing, among others. Advantage focuses on investing in acquisitions, buy-outs, buy-ins and other private equity opportunities.
Private equity group GMT Communications has exited its investment in Asiakastieto and sold it to investment firm Investcorp. The transaction will generate an IRR of 70 per cent. Finland-based AT provides business and credit information to financial institutions and telecoms operators. GMT focuses on investments in the European communications sector. It provides buy-out and expansion capital for high growth companies.
UK fund management firm Octopus Investments has backed the £16m MBO of Hydrobolt Group and its sister company Studbolt. Hydrobolt manufactures and distributed fasteners for the oil, gas and power generation markets. Octopus is supporting the management team with a £4.5m investment from its private equity and intermediate capital funds to buy out the founder and majority shareholder. As part of the transaction, Simon Smith and Peter Andrews will join Hydrobolt's board. Octopus invests in buy-outs and provides expansion capital for businesses valued up to £20m.
Private investment firm Pennington Allen Capital Partners has completed its investment in Tulsa, US-based Mathey Investments the parent corporation of Mathey Dearman and C.I.A. Mathey Italiana. Terms of the transaction were not disclosed. Mathey develops, manufactures and markets products and tools for the pipeline and welding industry. Pennington is a private equity firm focused on the acquisition of manufacturing, distribution and business services companies and is also headquartered in Tulsa.
UK mid-market private equity investor Inflexion Private Equity has led the MBO of SMD. Financial terms were not disclosed. SMD is a privately owned company that designs and manufactures subsea vehicle systems. Inflexion operates out of offices in London and Manchester. The firm recently led the MBO of Pims Group, a waste water support services company.
Mid-market investor Audax Group has completed the sale of Silver State Materials to California Portland Cement Company. Financial terms of the deal were not disclosed. Based in Las Vegas, Silver State is a provider of ready-mixed concrete and aggregates for commercial and residential construction. Audax Group manages approximately $3.7bn in equity capital and has offices in Boston and New York. This latest transaction marked Audax's second deal in the concrete and aggregate space, following their sale of Southern Equipment Company in 2006.
Paris-based private equity firm Activa Capital has exited French transport group Groupe Malherbe. Financial details of the MBO were not disclosed. Activa also acquired a majority stake in French clothing brand Bruno Saint Hilaire. BSH posted sales of €42m in 2007 and currently has 1200 multi-brand outlets in France.
Private equity firm RJD Partners has led a MBO of household textiles company Character World. The deal valued Character World at approximately £20m. Character World is a provider of household textiles and accessories that sells through a wide range of UK retailers and catalogues such as Argos, Littlewoods, Asda and Toys ? Us. RJD Partners invests in UK companies that are worth up to £75m and are in the service and leisure sectors. The investment is RJD's third from their second fund.
UK private equity firm ISIS Partners has sold kidsunlimited to Lloyds TSB Development Capital for £45m. kidsunlimited is the UK's fifth largest operator of children's nurseries and is based near Wilmslow, Cheshire. ISIS's core areas of investment include business services, financial services, consumer markets, healthcare and education and media and information technology. The firm has offices in London, Birmingham, Leeds and Manchester.
Mid-market firm Bowmark Capital has backed an MBO of healthcare software firm DATIX. Financial details were not disclosed. DATIX develops and supplies risk management and patient safety software to the healthcare sector. Founded in 1997, Bowmark manages approximately £700m on behalf of a blue chip investor base. The firm recently closed their Bowmark Capital Partners IV fund on £265m.
Quark Pharmaceuticals has completed a $27m financing round. The majority of the investment came from SBI Asset Management and SBI Investment, investment vehicles of Japan-based SBI Holding. Quark is a development-stage pharmaceutical company, headquartered in Fremont, California. The company also operates research and development facilities in Boulder, Colorado and Ness-Ziona, Israel.
Boston-based media-focused private equity firm ABRY Partners has acquired data centre and managed services provider Hosted Solutions for $140m. As part of the transaction, Hosted's management team will continue to lead the company from the North Carolina-headquarters. Hosted Solutions maintains and protects systems and applications. ABRY focuses on investments in the media, communications and information sectors.
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