Accel-KKR has acquired a majority equity position in Systems & Software Inc., a Colchester, Va.-based provider of integrated software solutions for the utility industry.
Advent International has acquired Aircom International Ltd., a U.K.-based provider of wireless network planning, optimization and performance management products and services to mobile telecoms operators.
Advent International has acquired a 65% interest in Herlitz, a German manufacturer and supplier of stationery, greeting cards and gift-wrapping paper. Advent bought the position from a consortium of banks, which had assumed their position following a 2001 financial restructuring of Herlitz. The remaining 35% is held by free-float shareholders, and is listed on the German stock exchange. Advent also issued a voluntary public tender offer to the free-float shareholders to acquire their interest.
Alliance Medical Corp. of Phoenix has agreed to merge with Vanguard Medical Concepts Inc. for Lakeland, Florida. Both companies are independent third-party re-processors of single-use medical devices. No financial terms were disclosed for the deal, which is expected to close by year-end. Alliance has raised over $38 million in VC funding, from firms like Apax Partners, Delphi Ventures, Coral Ventures, Valley Ventures, Merrill Lynch and Affinity Capital. Vanguard was acquired in 2002 by RoundTable Healthcare Partners.
Arcplan, a provider of business intelligence solutions with offices in Dusseldorf, Germany and Wayne, Pa., has completed a v27.5 million recapitalization. ViewPoint Capital Partners led the deal and was joined by German bank HypoVereinsbank.
Audax Group has acquired Victor Oolitic Stone Co., a Bloomington, Ind.-based provider of Indiana limestone to the global stone market. Victor Oolitic was represented on the deal by Brown Gibbons Lang & Co.
Beverly Enterprises Inc. (NYSE: BEV), a Ft. Smith, Ark.-based nursing home operator, has agreed to be acquired for approximately $1.9 billion ($12.80 per share) by a newly-created entity called North American Senior Care Inc. The deal comes several months after Beverly rejected a $1.24 billion ($11.50 per share) offer from a private equity group that included Formation Capital, Appaloosa Management and Franklin Mutual Advisors. The deal is structured with around $320 million in equity from unnamed investors, $1.325 billion in debt financing from Wachovia Bank and $550 million in operating loans from CapitalSource Financing.
Beacon Roofing Supply Inc. (Nasdaq: BECN) has agreed to acquire Shelter Distribution Inc., a McKinney, Texas-based roofing products distributor owned since July 2002 by Brazos Private Equity Partners. The deal is valued at approximately $152.5 million in cash, and is expected to close by the end of September.
The Blackstone Group has completed its $3.24 billion acquisition of Dallas-based hotel company Wyndham International Inc. (AMEX: WBR).
The Carlyle Group and Prudential Financial reportedly have agreed to pay up to $400 million for a 25% stake in Chinese life insurer China Pacific Life Insurance. The private equity firms also would take over managerial control of China Pacific Life, and would have the option to increase their shareholding to 49 percent.
The Carlyle Group has agreed to buy the drug capsule business of Japanese drug company Shionogi & Co. for an undisclosed amount.
The Carlyle Group has expressed interest in buying the European soft drinks business of Cadbury Schweppes, according to The Financial Times. The deal reportedly would be fronted by former PepsiCo executive Nish Kankiwala. Cadbury put the unit up for auction last month, and retained Goldman Sachs to run the process.
The Carlyle Group has received European Union approval for its pending acquisition of France-based corrugated paper and packaging materials company Otor Finance.
CEA Acquisition Corp. has agreed to acquire eTrials Worldwide Inc., a Morrisville, N.C.based provider of integrated software for the life sciences industry. ETrials Worldwide had raised approximately $7 million in VC funding from firms like Prodea, Newlight Associates and Nazen & Co. CEA Acquisition is a blank check acquisition company that went public on the OTC Bulletin Board last year, and is managed by numerous people with private equity backgrounds, including: Patrick Michaels of Communications Equity Associates and Donald Russell of CEA Capital Partners USA.
Cerberus Capital is in advanced talks to acquire German insurer Gerling Allgemeine Versicherung AG, according to a German newspaper report. The deal could be valued at more than v1 billion.
Concerto Software Inc., a Westford, Mass.-based provider of contact center solutions, has completed its acquisition of Aspect Communications Corp. (Nasdaq: ASPT) for approximately $1 billion, or $11.60 per outstanding share of Aspect common stock. The merged, privately-held company will be named Aspect Software, with controlling shareholders including Golden Gate Capital, Oak Investment Partners and company management.
CVC Capital Partners and Electra Partners have co-sponsored a GBP450 million management buyout of U.K.-based book publisher CPII, according to The Financial Times. CPII is the parent company of Bath Press, Cox and Wyman and Mackays.
Heineken NV has agreed to acquire Ivan Taranov Breweries of Russia. No financial terms were disclosed for the deal, which is expected to close in late September. Among the selling parties will be Texas Pacific Group, which holds a 38% position in Ivan Taranov.
Gap Inc. (NYSE: GPS) saw its stock price rise on rumors of a possible leveraged buyout offer.
General Atlantic has completed a $75 million investment for secondary shares in Net1 U.E.P.S. Technologies Inc. (Nasdaq: UEPS), a South Africa-based provider of electronic payment systems for developing markets. In related news, Florian Wendelstadt, head of General Atlantic’s London office, has joined the Net1 board of directors.
Gores Technology Group has acquired the assets of Somero Enterprises LLC from Dover Corp. (NYSE: DOV). Somero Enterprises is a Jaffrey, N.H.based maker of concrete construction tools.
Inchon Oil Refinery Co. of South Korea has received six buyouts bids. The interested parties include: Citigroup Venture Capital, Morgan Stanley Emerging Markets, China-based Sinochem International Co., SK Corp., S-Oil Corp. and STX Corp. A South Korean court is reviewing the offers.
Ironbridge Capital, an Australian private equity firm, has agreed to acquire Barbeques Galore Ltd. (Nasdaq: BBQZ) for approximately $45 million in cash, or $9.91 per outstanding share. Barbeques Galore operates a Sydney, Australia-based chain of specialty retail stores in the U.S. and Australia, with a focus on barbecues, backyard accents, fireside products and related accessories.
Lovell Minnick Partners has agreed to acquire a control stake in ALPS Financial Services Inc., a Denver-based provider of outsourced back-office administration and distribution services to the fund management industry. The deal also includes ALPS subsidiary ALPS Mutual Fund Services Inc. No terms were disclosed for the deal, which is expected to close this month.
MTI Technology Corp. (Nasdaq: MTIC), a Tustin, Calif.-based provider of storage solutions and services, has entered into an agreement with Advent International to raise $20 million through a private placement of Series B convertible preferred stock. Advent previously led a $15 million Series A PIPE infusion for MTI in June 2004.
NAL Worldwide LLC, a Westmont, Ill.-based affiliate of Lake Capital Partners, has acquired the SIRVA Logistics assets of North American Van Lines Inc., a subsidiary of SIRVA Inc. (NYSE: SIR).
NBGI Private Equity is backing the GBP40 million management buyout of Superglass Ltd., a Stirling, Scotland-based insulation manufacturer currently owned by Encon Ltd. As part of the deal, NBGI secured a GBP7 million credit facility from Clydesdale Bank and a mezzanine loan from Investec.
The Neiman Marcus Group Inc. (NYSE: NMG.A, NMG.B) shareholders overwhelmingly approved a proposed $5.1 billion company acquisition by Texas Pacific Group and Warburg Pincus. Shareholders will receive $100 per outstanding share.
The New York Mercantile Exchange reportedly received a $1.2 billion IPO proposal from J.P. Morgan Chase & Co. The idea – and the $1.2 billion valuation – comes as Battery Ventures, Blackstone Group and General Atlantic continue to be interested in acquiring a 20% stake in NYMEX.
NITAR Tech Corp. (OTC: NCHP) of Toronto has entered into a Cdn$35 million standby equity distribution agreement with Cornell Capital Partners.
Monomoy Capital Partners and Hilco Equity Management have completed their $25 million buyout of Awrey Bakeries Inc., a Livonia, Mich.-based maker of frozen baked goods. The deal will include a recap of Awrey’s balance sheet, and the installation of Alden Knowles as CEO. Knowles has held senior management and turnaround positions at the bakery divisions of Bunge Foods and Hazelwood Bakeries.
Oltchim, a state-owned petrochemical company in Bucharest, reportedly is planning to divest of several non-core assets, before putting itself on the auction block later this year.
Pacific Equity Partners has agreed to buy the share-registry business jointly held by the Australian Stock Exchange and Perpetual Trustees Australia Ltd. for Au$132 million.
Parallel Investment Partners has sponsored a management buyout of collegiate sports marketing company Action Sports Media Inc. No financial terms were disclosed for the deal. Action Sports Media also announced that it will move its headquarters from Portland, Ore. To Knoxville, Tenn., and that former Host Communications execs Gordon Whitener and Jerry Felix will join the company as CEO and CFO, respectively.
Performance Fibers Holdings Inc., a Colonial Heights, Va.based portfolio company of Sun Capital Partners, has acquired the North American business of Diolen Industrial Fibers Inc.
Permira and Kohlberg Kravis Roberts & Co. have agreed to buy European broadcaster SBS Broadcasting SA (Nasdaq: SBTV) for approximately v2.09 billion. The deal includes approximately v1.69 billion in cash, with existing SBS shareholders receiving around v46 per share. Leverage will be provided by Barclays Capital, Lehman Brothers and Royal Bank of Scotland. A shareholder vote is expected to occur in October, while SBS has agreed to a v50 million breakup fee if it is acquired by a different purchaser in the next nine months.
Permira has agreed to acquire a majority ownership stake in Jet Aviation, a Zurich-based provider of business aviation services.
Phillips & Temro, a portfolio company of Morgenthaler Partners, has acquired Truflo Air Movements, a Tipton, U.K.-based manufacturer of steel engine cooling fans for the heavy duty off-road vehicle market.
Photonis Holdings SAS, a France-based photo-detection company controlled by AXA Private Equity, has acquired Burle Industries Inc., a Lancaster, Pa.-based maker of specialized electron tubes and electo-optic products.
Proxicom Inc., a portfolio company of Gores Technology Group LLC, has agreed to acquire all capital stock of healthcare industry consultant Daou Systems Inc. (OTC BB: DAOU) for approximately $21.6 million.
Resurgence Financial LLC, a purchaser and collector of Illinois defaulted credit card accounts, has completed a recapitalization. The deal includes the $5 million sale of a 25% company stake to an unnamed private equity firm. Kaulkin Ginsberg Co. advised Resurgence on the transaction.
The Riverside Co. has agreed to buy the Sentinel business unit of GE Infrastructure, Water & Process Technologies for $44 million. Sentinel is a U.K.-based producer of branded residential heating system additives and chemicals.
Six Flags Inc. (NYSE: PKS) put itself on the auction block yesterday, in an attempt to block dissident shareholder Daniel Snyder from taking control of the company. The amusement park company is believed to be worth approximately $3 billion, but also comes with more than $2 billion in debt. Last year, Six Flags sold its European assets for approximately $200 million to Palomon Capital Partners.
Triton Pacific Capital Partners has sponsored a recapitalization of Strategy Inc., a Clearwater, Fla.-based construction and environmental claims consulting firm.
Veritas Capital has agreed to purchase selected assets of MZM Inc., a Washington-based service provider to the national security community. No financial terms were disclosed for the deal, which is expected to close in mid-September.
Warburg Pincus has agreed to invest $70 million into Secure Computing Corp. (Nasdaq: SCUR), in the form of convertible preferred stock with warrants. The deal is in conjunction to Secure Computing’s pending $295 million acquisition of CyberGuard Corp. (Nasdaq: CGFW).
Watermill Ventures has acquired a 100% stake in PFI LLC (a.k.a. Vertex Fasteners), a Pawtucket, R.I.-based distributor of industrial fasteners, fastener products and rivets. No financial terms were disclosed for the deal, which included participation from company management.
3i Group has sold its minority stake in U.K. sandwich and coffee company EAT to Penta Capital, as part of a GBP39 million refinancing. The deal includes GBP18 million from Barclays.
Activant Solutions Inc., an Austin, Texas-based business process management company, has agreed to acquire Prophet 21 Inc. for $215 million from Thoma Cressey Equity Partners and LLR Partners. Prophet 21 is a Yardley, Pa.based provider of vertical-market-focused enterprise software and services for the distribution industry. Activant is controlled by Hicks, Muse, Tate & Furst, and is in registration for a $200 million IPO.
Advent International reportedly has agreed to acquire Czechoslovakia credit card company Ceska Spolecnost Pro Platebni Karty AS (CCS) from JPMorgan Chase & Co. and company management. No sale price was disclosed.
Infor Global Solutions, an Alpharetta, Ga.based provider of software for the manufacturing and distributions markets, has acquired Formation Systems Inc., a Southborough, Mass.-based provider of product lifecycle management solutions to process manufacturing companies. Infor is owned by Golden Gate Capital, while Formation Systems raised around $36 million in VC funding from ABS Ventures, Bessemer Venture Partners, Bain Capital Ventures and Lightspeed Venture Partners.
Intelsat Ltd. has agreed to acquire fellow satellite company PanAmSat Holding Corp. (NYSE: PA) for $25 per share, or $3.2 billion. In addition, Intelsat will either refinance or assume $3.2 billion of PanAmSat debt. Leverage for the full amount of the purchase price has been committed by a financing consortium that includes Deutsche Bank Securities, Citigroup Global Markets, Credit Suisse First Boston and Lehman Brothers. Intelsat was acquired in a $5 billion going-private transaction earlier this year by Apax Partners, Apollo Management, Madison Dearborn Partners and Permira. PanAmSat completed a $900 million IPO this past March ($18 per share), with significant shareholders including Kohlberg Kravis Roberts & Co., The Carlyle Group and Providence Equity Partners.
MidOcean Partners has agreed to acquire Bezier Holdings Ltd. from Electra Partners for £77 million. Electra will maintain a minority position in U.K.-based Bezier, which provides point-of-purchase marketing materials to retailers and branded goods manufacturers. The Royal Bank of Scotland is providing leverage.
PAI Partners of France has received European Commission approval for its proposed Gbp800 million buyout of U.K. car repair chain Kwik-Fit from CVC Capital Partners.
School Specialty Inc. (Nasdaq: SHCS), a Greenville, Wis.-based provider of supplemental learning products to the pre K-12 market, has agreed to acquire all membership interests in Nashua, N.H.-based Delta Educations LLC from Wicks Learning Group LLC, an affiliate of private equity firm Wicks Group of Companies. The deal is valued at $272 million, with School Specialties utilizing its current credit facility and a $100 million term loan credit agreement recently agreed to with Bank of America. School Specialties announced in May that it would be acquired for $49 per share ($1.5 billion with assumed debt) by Bain Capital. That deal now also includes Thomas H. Lee Partners, which would hold a 40% stake in School Specialties with Bain holding the other 60% (both stakes would be reduced pro-rata to facilitate a small percentage of management ownership). The $49 per share price remains intact.
Teachers’ Private Capital, the private equity arm of the Ontario Teachers’ Pension Plan, has agreed to acquire Doane Pet Care Co., a Brentwood, Tenn.-based maker of private label pet food. The deal is valued at $840 million in cash. JPMorgan Partners is DoaneÕs primary shareholder, with other backers including Bruckman, Rosser, Sherrill & Co., CapStreet Group and DLJ Merchant Banking Partners.
Bronco Drilling Company Inc., an Oklahoma City-based provider of contract land drilling services to the oil and natural gas industries, priced 5.1 million common shares at $17 per share, for an IPO take of approximately $86.7 million. It originally filed to price 4.7 million shares at between $14 and $16 per share. Johnson Rice & Co. and Jefferies & Co. served as lead underwriters. The company was formed in June 2001 by affiliates of Wexford Capital, which held a 100% pre-IPO ownership stake and a 72% post-IPO stake.
Brookdale Senior Living Inc., a Chicago-based operator of senior living facilities throughout the United States, has filed to raise $200 million via an IPO of common stock. The company plans to trade on the NYSE under ticker symbol BKD, with Goldman Sachs and Lehman Brothers serving as lead underwriters. Fortress Investment Holdings LLC is BrookdaleÕs majority shareholder, while Capital Z Partners also has an equity position.
Heartland Payment Systems Inc., a Princeton, N.J.-based provider of bank card-based payment processing services to merchants, priced 6.75 million common shares at $18 per share (above its $14-$16 range), for an IPO take of approximately $121.5 million. Citigroup served as lead underwriter, while Greenhill Capital Partners and LLR Equity Partners were listed as significant shareholders.
J. Crew Group Inc., a New York-based clothing retailer, has filed to raise $200 million via an IPO of common stock. It plans to trade on the NYSE under ticker symbol JCG, with Goldman Sachs and Bear Stearns serving as lead underwriters. Texas Pacific Group is J. CrewÕs majority shareholder, based on a 1997 recapitalization.
Foundation Coal Holdings Inc. (NYSE: FCL) filed for a $336.6 million secondary offering, but did not say if either First Reserve Corp. or The Blackstone Group will be among the selling shareholders. Each private equity firm currently holds a19.1% ownership position in the company.
QinetiQ PLC, a U.K.-based defense research firm, has retained CSFB, JPMorgan and Merrill Lynch as financial advisors for a possible IPO. The Carlyle Group bought a 31% stake in the company in 2003 from the UK Ministry of Defense, with the Ministry holding the remaining position. Press reports suggest that the IPO could be designed to raise anywhere between £500 million and £1.1 billion.
Reddy Ice Holdings Inc., a Dallas-based manufacturer and distributor of packaged ice, priced 10.2 million common shares at $18.50 per share (above its $16-$18 range), for an IPO take of approximately $188.7 million. Bear Stearns, Lehman Brothers and Credit Suisse First Boston served as co-lead underwriters, while selling shareholders included both Trimaran Capital Partners and Bear Stearns Merchant Banking.
Refco Inc., a New York-based provider of execution and clearing services for exchange-traded derivatives, priced 25 million common shares at $22 per share (above its $19-$21 range), for an IPO take of approximately $583 million. It plans to trade on the NYSE under ticker symbol RFX, while CSFB, Goldman Sachs and Banc of America Securities served as lead underwriters. Thomas H. Lee Partners led a buyout of Refco last August.
Rockwood Holdings Inc., a Princeton, N.J.-based chemicals company, priced 20.4 million common shares at $20 per share (below $23-$26 range), for an IPO take of approximately $408.2 million. Goldman Sachs and CSFB served as co-lead underwriters. Kohlberg Kravis Roberts & Co. was listed as RockwoodÕs pre-IPO majority shareholder, with DLJ Merchant Banking Partners holding a minority stake.
Team Health Inc., a Knoxville, Tenn.-based provider of outsourced physician staffing and administrative services to hospitals and other healthcare providers, has filed to raise $172.5 million via an IPO of common stock. It plans to trade on the NYSE under ticker symbol THH, with Lehman Brothers and Merrill Lynch serving as lead underwriters. Significant shareholders include Madison Dearborn Partners (36% stake), Cornerstone Equity (36%) and Beecken Petty OÕKeefe & Co. (8%).
Union Drilling Inc., a Bridgeville, Pa.-based provider of contract land drilling services and equipment to natural gas companies, has filed to raise $150 million via an IPO of common stock. It plans to trade on the Nasdaq under ticker symbol UDRL, with JPMorgan serving as lead book-running manager. The company was formed in 1997 by Morgan Stanley Capital Partners (81% pre-IPO stake) and Somerset Capital Partners.
3i Group has agreed to sell its 26% stake in Swedish biotech company Arexis AB, as part of an overall buyout by Biovitrum.
Candover has agreed to sell Switzerland-based aviation services group Swissport International Ltd. to Grupo Ferrovial SA for approximately $646 million. The deal is expected to close next month. Candover led a v393 million buyout of Swissport from SAirGroup in February 2002, in partnership with company management.
The Dover Corp. (NYSE: DOV) has agreed to buy Knowles Electronics from Doughty Hanson & Co. for $750 million. The deal is expected to close next month. Knowles is an Itasca, Ill.-based maker of hearing aid transducers and MEMS microphones for cell phones.
Eaton Corp. (NYSE: ETN) has completed its purchase of Tractech Holdings Inc. from a shareholder group led by Edgewater Capital Partners. Tractech is a Warren, Mich.Ðbased manufacturer of specialized differentials for the commercial and specialty vehicle markets.
Encore Acquisition Co. (NYSE: EAC) has acquired Crusader Energy Corp., an Okalahoma City-based exploration and production company backed by Kayne Anderson Capital Advisors. The deal is valued at approximately $107.5 million, with Lehman Brothers serving as financial advisor to Crusader.
Fremont Partners has sold Juno Lighting Inc. to Square D, a unit of France-based Schneider Electric SA, for $610 million. Juno Lighting is a Des Plaines, Ill.-based maker of lighting fixtures and systems acquired by Fremont via a June 1999 leveraged recapitalization.
R.R. Donnelley & Sons Co. (NYSE: RRD) has agreed to acquire a 100% interest in Poligrafia SA, a Polish publishing company publicly-traded on the Warsaw Stock Exchange. The deal is valued at approximately v43 million, and will include the approximately 56.2% of outstanding Poligrafia shares held by Baring Corilius Private Equity.
Sonic Healthcare Ltd. of Australia has agreed to acquire an 80% interest in Clinical Pathology Laboratories Inc., an Austin, Texas-based portfolio company of Summit Partners. The deal is valued at $300 million, including the possibility of another $20 million in earn-out payments. Sonic plans to acquire the remaining 20% equity stake over the next several years, while the current deal includes a debt facility from ANZ Bank and JPMorgan.
TechBooks Inc., a Fairfax, Va.Ðbased electronic content outsourcing company, has completed a recapitalization that included a $45 million infusion of convertible preferred equity and subordinated debt from American Capital Strategies. Bank of America provided a revolving credit facility.
Texas Pacific Group and Invest Industrial SpA both are denying Italian press reports that TPG has formally agreed to sell its 35% stake in motorcycle company Ducati Motor Holding SpA to Investindustrial.
Allianz Private Equity Partners has held a v400 million first close for its first institutional fund-of-funds. It is looking to raise a total of v750 million.
Asia Automotive Acquisition Corp., a Birmingham, Mich.-based blank check company focused on the automotive component industry, has filed to raise $32 million via an IPO. The company plans to trade on the OTC BB, with Rodman & Renshaw serving as the offeringÕs lead underwriter. Company executives include: chairman William Herren, co-founder of Asia Development Capital; CEO Rudy Wilson, co-founder of Asia Development Capital; and CFO David Brophy, a professor at the University of Michigan School of Business Administration, and director of its Center for Venture Capital and Private Equity Finance.
Auda Capital is looking to raise up to $300 million for its fourth fund-of-funds, according to a regulatory filing. It already has approximately $100 million in commitments.
The Carlyle Group has closed its first Asian real estate fund with $410 million in capital commitments.
Everest Acquisition Corp., a Hong Kong-based blank check acquisition company focused on businesses with primary operating facilities in the Asia-Pacific region, has filed to raise $96 million via an IPO being solely managed by Jesup & Lamont Securities Corp. The companyÕs top executives and shareholders are GE Asia Capital Technology Fund managing directors Ashock Kothari (chairman and CEO) and Gage McAfee (president).
Hidden Creek Partners, a group formed in 1989 to lead industrial buyouts financed by Onex Corp., has been integrated into Thayer Capital Partners. The move is effective immediately, and results in HCP pros Judy Vijjums, Carl Nelson, Dan Moorse and Kurt Rasmussen all being named managing directors with Thayer. HCP has been assisting Thayer on certain deal opportunities since January 2004, in part due to the relationship formed when HCP co-founder and CEO Scott Rued joined Thayer as a managing partner. In other Thayer personnel news, the firm has promoted Doug McCormick from managing director to managing partner. He joined the firm in 1999, and will continue to lead its aerospace, defense and federal services group.
Metalmark Capital Partners, formed last year by the spinout of Morgan Stanley Capital Partners, is looking to raise upwards of $1.75 billion for its first independent fund, according to a regulatory filing. The firm already has nearly $360 million in committed capital from such groups as New York State TeachersÕ Retirement System, the GM Hourly-Rate Employees Pension Plan, Mellon Bank and the Georgia-Pacific Corp. Master Trust.
Meritech Capital Partners has raised nearly $330 million for its third fund, according to a regulatory filing. Limited partners include the Michigan State Treasury, JPMorgan, the Minnesota Mining and Manufacturing Co. Employee Retirement Income Pension Trust and Commonfund Capital.
Morgan Stanley has raised $515 million for its first Asia-focused private equity fund. According to an earlier regulatory filing, limited partners include Federal Insurance Co. and Sun Hung Kai Properties Group.
NIB Capital has confirmed earlier reports that it will be acquired by a consortium led by U.K.-based buyout firm JC Flowers & Co. for approximately v2.1 billion. NIB currently is owned by a pair of Dutch pension systems.
Ocean Tomo LLC, a Chicago-based merchant bank focused on intellectual property (IP) assets, has launched a $200 million private equity and mezzanine debt fund focused on companies with undervalued IP rights. The primary limited partner is Perot Investments Inc., a Dallas, Texas-based firm founded by Ross Perot.
The Praedium Group LLC has closed its sixth real estate private equity fund with $700 million in capital commitments.
Priveq Capital Funds of Toronto has held a Cdn$40 million first close on its third fund, which will focus on small buyouts and expansion capital commitments. Limited partners include BDC Venture Capital and TeachersÕ Private Capital, the private equity arm of the Ontario TeachersÕ Pension Plan.
RBS Leveraged Finance is opening a Tokyo office, according to PrivateEquityOnline. It will be run by new managing director Satoshi Kitahama, who previously was in charge of leveraged and project finance for the specialty finance division of Japan-based Shinsei Bank.
SKM Growth Investors has changed its name to Parallel Investment Partners. The firm Ð which focuses on recaps, growth capital and buyouts in the lower middle markets Ð spun out of Saunders Karp & Megrue earlier this year, when that firm agreed to merge with Apax Partners.
Warburg Pincus reportedly may soon sue Shanghai, China-based Datang Telecom Technology Co Ltd., due to an alleged breach of contract related to the agreed-upon issuance of convertible bonds to Warburg-related companies. Datang says that the two sides currently are in negotiations.
Wind Point Partners has closed its sixth middle-market buyout fund with $700 million in capital commitments. Limited partners include the State of Michigan Retirement System, Ontario TeachersÕ Pension Plan, DaimlerChrysler Retirement System, Northwestern Mutual Life, Alaska Permanent Fund, Alaska State Pension Investment Board, the Public School Retirement System of Missouri and Standard Life Investments. In conjunction with the fund closing, Wind Point has promoted principals Nathan Brown and Michael Solot to managing director. It also promoted five vice presidents Ñ Mark Burgett, Jeremy Busch, Michael Nelson, Paul Peterson and Alex Washington Ñ to principal.
Dave Ament has been promoted to the position of partner at Parthenon Capital. He joined the firmÕs Boston office in 2003 as a principal.
Andrew Brown and Ryan Magee have joined Westport, Conn.-based Patriot Capital Funding Inc. (Nasdaq: PCAP) as vice president and assistant vice president, respectively. Both men previously worked with GE Commercial FinanceÕs global sponsors group.
CDC Corp. (Nasdaq: CHINA) has added two board members: Simon Wong, director and executive vice president of Transpac Capital; and K.O. Chia, a former managing director of venture capital firm Walden International.
Fred Conforti and Paul Coughlin have joined the advisory board of WHI Capital Partners, a Chicago-based private equity firm focused on the lower middle-markets. Conforti is a founder of residential smoke detector company First Alert, while Coughlin is the former president and CEO of Eastmet Corp.
Harris Williams & Co. has made the following promotions: Patrick Crocker to managing director, Bram Hall to director, Chip Meyer to director, John Arendale to vice president, James Clark to vice president, Andrew Spitzer to vice president, Derek Swaim to vice president and Marshall Schutt to associate.
Mike Innes has agreed to join Graphite Capital as an investment director in the firmÕs transactions group, after previously working with the Royal Bank of Scotland.
Javed Kahn has joined The Blackstone Group as deputy managing director of the firmÕs newly-opened office in Mumbai, India. He previously served as a director with DLJ Merchant Banking, and soon will relocate from London to Mumbai.
Jason Michael Klein and Nicolas Chammas have joined Accel-KKR as vice president and associate, respectively. Klein most recently served as a vice president in Goldman SachsÕ technology, media and telecom I-banking group, while Chammas served as an I-banking analyst with Credit Suisse First BostonÕs tech group.
Edwin “Ted” Laurenson has joined the corporate department of McDermott Will & Emery as a partner focused on the regulation of public and private investment funds and investment advisory matters.
Leeds Weld & Co. has hired: Scott McLallen, formerly with Monitor Clipper Partners; Carter Harned, formerly a managing director in the financial sponsors and leveraged finance group of CIBC World Markets; and Brad Whitman, formerly of The Carlyle Group.
Raymond Nolte has joined Citigroup Alternative Investments as CEO of its hedge funds-of-funds group, effective September 1. He previously served as a managing director and vice chairman of the Deutsche Bank Absolute Return Strategies Fund-of-Funds and the Single Manager Hedge Fund business.
Allan OÕBryant, a longtime executive with insurer Aflac Inc. (NYSE: AFLAC), has left the company to launch a private equity firm focused on emerging growth companies. He spent the past nine years in Japan, most recently as president of Aflac International.
Michael Powell, former chairman of the Federal Communications Commission, has joined Providence Equity Partners as a senior advisor.
Fred Reynolds is leaving Evercore Partners, just one month after joining as its president and CEO. He will return to his former employer Viacom as CFO of CBS. He previously had served as CFO of ViacomÕs television stations group.
Brad Richter has joined Fried, Frank, Harris, Shriver & Jacobson LLP as a partner in the firmÕs trusts and estates department. Richter previously served as special counsel in the individual clients group at Kramer, Levin, Naftalis & Frankel LLP.
Maximilian Schroeck has joined Cipio Partners as a managing partner, and head of the European secondary firmÕs new office in San Jose, Calif. He previously served as managing director of Agilent Ventures.
Harry Taylor and Nigel Howard have joined TA Associates as vice presidents. Taylor previously was a senior associate with MMC Capital, while Howard served as an associate with both JPMorgan Partners and Goldman Sachs Capital Partners.
Jennifer Tedesko has joined private equity placement agent Atlantic-Pacific Capital as a vice president. She previously worked at Probitas Partners.
Oliver Thomas has joined Summit Partners as a London-based vice president. He previously worked at ManyFutures Inc., and before that was an analyst with Goldman Sachs IBD.
Etienne de Villiers, founder of Englefield Capital and the former president of Walt Disney Television, has been named non-executive chairman of the BBCÕs commercial holdings board.
Nautilus Inc. (NYSE: NLS) has added two board members: Ronald Badie, former vice chairman of Deutsche Bank Alex. Brown; and Marvin Siegert, president and chief operating officer of private equity firm The Pyle Group LLC.
Jeffrey Walker, managing partner of JPMorgan Partners, has left the board of AXIS Capital Holdings Ltd. (NYSE: AXS). The resignation coincides with JPMorgan PartnersÕ bulk sale of 7.8 million shares of AXIS Capital common stock.