Iris Dorbian
NoteVault has received an undisclosed investment from West Partners. Based in San Diego, NoteVault is a provider of voice-to-text-based mobile reporting solutions for the engineering and construction sectors.
CIT said Monday that it served as sole lead arranger for a $50 million senior credit facility to QMES, a portfolio company of private equity firm Quadrant Management. The loan will be used to refinance debt and provide working capital. QMES is a provider of durable medical equipment to patients in nine states.
NetApp said Monday that current board chairman and former CEO Dan Warmenhoven will step down from his position. NetApp CEO Tom Georgens will replace him as board chairman. Also, Nicholas Moore, a lead independent director at NetApp, will retire from the board . Michael Nevens, a senior advisor at private equity fund Permira, will become lead independent director. Based in Sunnyvale, Calif., NetApp is a provider of storage and data management solutions.
US Ecology has agreed to acquire EQ, a portfolio company of private equity firm Kinderhook Industries, for $465 million. The transaction is expected to be completed in either the second or third quarter of 2014. Houlihan Lokey is advising US Ecology on the deal while Stifel is advising EQ. Wells Fargo Securities and Credit Suisse Securities are arranging for the financing. Based in Wayne, Michigan, EQ is an environmental services and waste management firm.
L Capital Management and L Capital Asia, two private equity firms backed by LVHM, have acquired a minority stake in luxury footwear maker and retailer Vicini S.p.A. No financial terms were disclosed. Rothschild advised Vicini S.p.A. on the transaction while DVR Capital advised L Capital. Based in Italy, Vicini S.p.A. owns the Giuseppe Zanotti Design shoe brand.
Yellow Point Equity Partners said Friday that it has completed its buy of Bravo Oilfield Safety Services. No financial terms were disclosed. Bravo is a provider of safety solutions to the Canadian oil and gas sector.
The Carlyle Group and PAI Partners have begun negotiations with France-based Schneider Electric to acquire Custom Sensors & Technologies. No financial terms were disclosed. CST specializes in sensing, control and motion products.
BaltCap has acquired a 75 percent stake in Ecoservice for 14.9 million euros. Based in Lithuania, Ecoservice is a waste management firm.
IMS Health has launched its IPO of 65 million shares after pricing it at $20 per share. The stock began trading Friday on the NYSE under the ticker symbol "IMS." J.P. Morgan Securities, Goldman Sachs and Morgan Stanley & Co. are the lead underwriters. Headquartered in Danbury, Conn., IMS Health is a global information and technology services firm that focuses on the healthcare sector. It is owned by TPG Capital, CPP Investment Board and Leonard Green & Partners.
AssuredPartners, a portfolio company of GTCR, has acquired MHB Insurance. No financial terms were disclosed. Based in Peekskill, NY, MHB Insurance is a life and health insurance provider.