Angela Sormani
Dutch biotech company ProteoNic B.V. has completed a 6 million euro equity financing round led by US-based Fairbanks Investment Fund (FIF), with existing shareholders participating. The funding will be used to accelerate commercialization of ProteoNic’s unique technology.
Ventizz Capital Partners, an investor in growth capital and mid-size tech buyouts in the German-speaking region, has announced Andreas Marty will be made a partner effective from October 1, 2011. Marty has been chief financial officer of the firm since July 2008.
San Francisco-based Shareholder Representative Services, a post-closing expert for private company mergers and acquisitions has appointed William Lau as executive director and chief operating officer. He will oversee global operations, including finance, accounting, planning, treasury, and administrative activities from the firm’s San Francisco office. He was previously vice president and treasurer of GenCorp Inc, an aerospace and defense manufacturer.
Merit and Fulton Capital have realised their investment in Cobra Wire & Cable. Cobra has been acquired by EIS, Inc., a subsidiary of Genuine Parts Company. Merit and Fulton acquired Cobra in early 2007. Under their ownership, Cobra improved its position in the telecommunications sector through a strategic acquisition, enhanced its management team, and expanded its sales force.
Merit and Fulton Capital have successfully exited their investment in E-conolight, a distributor of lighting fixtures and accessories. The company has been acquired by Ruud Lighting, a subsidiary of Cree, Inc. Merit and Fulton acquired E-conolight in early 2010.
San Francisco-based Yammer, a provider of enterprise social networks has secured $17 million in its fourth round of funding, bringing its total financing to $57 million. The Social+Capital Partnership, a new fund established by former Facebook Vice President Chamath Palihapitiya, led the round with previous investors Charles River Ventures, Emergence Capital and U.S. Venture Partners also participating.
Global fund manager Värde Partners has agreed to acquire SAV Credit Limited, a UK-based specialist credit card provider, from majority shareholders Palamon Capital Partners, Electra Private Equity and Morgan Stanley Alternative Investment Partners in a deal worth £472 million. Palamon, Electra, and Morgan Stanley have supported the development of SAV from a start-up in 2002. Värde Partners first partnered with SAV Credit in March 2010 and is acquiring the business as part of its strategic growth plans.
Wisconsin Rapids-based Renaissance Learning and private equity fund manager Permira have entered into an amendment to their original merger agreement. Under the amended agreement, an affiliate of the Permira Funds will acquire all of the outstanding shares of Renaissance Learning for an aggregate purchase price of approximately $455 million. With offices in New York and Menlo Park, Permira has had a presence in North America since 2002. Renaissance Learning represents the second North American investment for the Permira funds in 2011.
Investec Specialist Bank (Investec) has provided a €15 million loan to F&C European Capital Partners LP (F&C), a private equity fund of funds focusing on European mid-market buyout, mezzanine and co-investments. The loan will fund F&C European Capital Partners LP fund, which closed in June 2008 with commitments of €173m. The funding will enable F&C to introduce a moderate amount of gearing to the fund and also enable it to manage the investment inflows and outflows and smooth potential future draw downs.
Stamford-based Daniel R. Frank, in conjunction with MM Dillon & Co, has unveiled Sea Dragon Healthcare Partners L.P., a new healthcare fund that will invest in U.S.-based healthcare companies with a focus on medical devices and technology, diagnostics imaging and specialty pharmaceuticals. The fund has already secured approximately $15 million in seed round funding from internal sources and close associates and has closed on its first investment GlucoTec Incorporated.