Iris Dorbian
GlaxoSmithKline, the global healthcare company, said on Wednesday that it has acquired Okairos AG, a Swiss-based developer of vaccine platform technologies for €250 million (approximately $325 million) in cash. The transaction will also include some early stage assets. Prior to the acquisition, Okairos was backed by the following life science VC firms: BioMedInvest, the Boehringer Ingelheim Venture Fund, LSP, Novartis Venture Funds and Versant Ventures.
Dresner Partners said on Wednesday that it has named Brian Graves as the company's managing director. Graves experience includes leadership and advisory roles with Ernst & Young's Strategic Advisory Services, Credit Suisse's HOLT Value Group, Mesirow Financial and Motorola. Dresner Partners is a middle-market investment bank based in Chicago.
J.F. Lehman & Company, a middle-market private equity firm focused on the defense, aerospace and maritime sectors, said on Wednesday that it has promoted four employees. The changes are as follows: Lisa M. Steffens will become managing director of fund finance and investor relations; David L. Rattner will become managing director, legal, administration and compliance; William J. Hanenberg will become vice president; and, David F. Thomas will become senior associate. J.F. Lehman & Company has offices in New York and Washington, D.C.
Cooley LLP said on Wednesday that Jeremy Naylor has joined the firm's New York office as a partner in its tax practice. In his new position, Naylor will work with the firm's leading venture capital group. Prior to joining Cooley LLP, Naylor worked at White & Case.
The Dusseldorf, Germany-based ENTRADE Group said on Wednesday that it is buying Agnion Energy. The current owners of Agnion Energy are Kleiner Perkins Caufield & Byers, Wellington Partners, Munich Venture Partners and Waste Management. No financial terms were disclosed. Headquartered in Pfaffenhofen, Bavaria, with a branch in Bolzano, Agnion is a heating and electricity supplier.
Dominion Gas, an oil field services company, was sold by Graphite Capital to Praxair, a U.S. based industrial gases group. No financial terms were disclosed. The Dominion management team, led by Russel Davies, chief executive, and Neil Potter, finance director, will remain with the company. Based in Aberdeen, Scotland, Dominion has facilities in the UK, Norway, Singapore and West Africa.
Hollander Home Fashions, a portfolio company of HGGC, has acquired Louisville Bedding's basic bedding retail business. No financial terms were disclosed. Louisville Bedding's basic bedding retail business has been renamed Hollander Sleep Products. Based in Boca Raton, Florida, Hollander Sleep Products is a provider of bed pillows, mattress pads, down comforters and related products.
Fidelity National Financial (FNF), a provider of title insurance and mortgage services, said on Tuesday that it has agreed to buy Lender Processing Services (LPS) for $33.25 per common share. The total equity value of the transaction is approximately $2.9 billion. FNF said it would pay half in cash and half in stock, subject to adjustment. Also, FNF will combine its ServiceLink business with LPS into a new holding company and is selling 19% to Thomas H. Lee Partners for about $381 million in cash. Jacksonville, Fla.-based LPS is a provider of technology, data and analytics to the mortgage and real estate industries.
Transplace said on Tuesday that it has been acquired by Greenbriar Equity Group LLC, a New York-based private investment firm. No financial terms were disclosed. The company was previously owned by an affiliate of CI Capital Partners and Transplace's management. Headquartered in Frisco, TX, Transplace is a provider of transportation services.
Source Photonics, a portfolio company of Francisco Partners, said Tuesday that it has named Doug Wright as president and CEO, effective immediately. Wright succeeds current CEO, Dr. Near Margalit, who will assume the role of the company's chief product officer. Headquartered in Chatsworth, Calif., and with offices in both China and Taiwan, Source Photonics is a provider of optical communication products.