Angela Sormani

Jones Day London has advised funds managed by Alcuin Capital LLP as sellers in a management buyout of Adapt Group Limited backed by Lyceum Capital Partners LP for a consideration of £30 million (US$46.4 million). Adapt, established in 2001 and headquartered in London, delivers enterprise-class cloud, infrastructure management, network and data centre services to mid-market clients that operate business critical IT applications.

Growth Capital Partners (GCP), a provider of flexible debt and equity to the UK’s small to medium sized businesses has appointed Alex Thomson as an investment manager. Thomson joins from Investec Investment Banking.

Garanti Bank subsidiary Garanti Securities and Cerberus Capital Management have formed a joint initiative to pursue investments in Turkey. Cerberus Turkey, an affiliate of Cerberus Capital Management already has US$400 million to invest in Turkish businesses. Garanti Securities and Cerberus anticipate raising additional capital starting next year to reach a total of up to US$1 billion in a new, jointly managed fund. Target equity value will be US$50 million to US$250 million.

XStor Systems, a provider of next-generation, specialty-specific digital imaging storage and connectivity solutions for radiology, pathology, and oncology, has appointed Sanjaya Kumar, MD as chief medical officer. Kumar, a pioneer in the areas of healthcare informatics and clinical business intelligence, will also serve on the company's board of directors.

Bain Capital-backed hooklogic has appointed Jeff Kershner to its automotive team in a senior sales management position. Kershner is an influential voice in the automotive online marketing world. His move to HookLogic comes on the heels of a $9.5 million round of funding from Bain Capital.

Nelson Global Products Inc. has announced the appointment of Randy Aylor as general manager - aftermarket. He will lead a team to strengthen and accelerate the company's initiatives in the heavy-duty and medium-duty vehicle aftermarket. Aylor most recently served as area director for Safeworks LLC, a manufacturer of powered access and safety solutions. Previously, Aylor was director of marketing and business development for Meritor Aftermarket, based in Zurich, Switzerland. He also served in other management positions at Meritor including regional manager in Melbourne, Australia.

Wireless services provider Tower Cloud has secured $49 million in equity funding to fuel expansion and growth of its 4G wireless backhaul networks. The latest round of funding was led by two of Tower Cloud’s existing investors, The Burton Partnership and Knology, Inc. Tower Cloud’s other existing institutional investors include: Sutter Hill Ventures, El Dorado Ventures, Ballast Point Ventures, Kinetic Ventures, ITC Partners Fund and Noro-Moseley Partners. For this round, two new investors joined the strong consortium, The Florida Growth Fund and CLR Investors.

Healthcare business Studer Group has secured a strategic investment from JMI Equity, a growth equity firm focused on investing in software, Internet, business services and healthcare IT companies. Founded in 1992, JMI Equity has invested in more than 100 businesses in its target markets and has over $2.1 billion of committed capital under management.

NewSpring Capital has backed Putney, a specialty pharmaceutical company focused on providing high quality, cost-effective generic medicines for pets. The financing round will provide Putney with the capital it needs to hire additional management talent, ramp up its product acquisition and licensing program, and transform Putney into a stronger R&D and commercial organization.

State Street has acquired Complementa Investment-Controlling AG, an investment performance measurement and analytics firm based in St. Gallen, Switzerland. The acquisition also includes wholly-owned subsidiary Allocare AG, a leading Swiss asset management software provider.