Iris Dorbian

BV Investment Partners said Wednesday that it has completed a recapitalization of The Efficient Collaborative Retail Marketing Company. No financial terms were disclosed. As a result of the investment, BV now owns a majority stake in ECRM. Also, Greg Farrar was named CEO of ECRM while Gerald Hobbs, Dan O'Shea and Justin Garrison join the company's board of directors. Headquartered in Solon, OH, ECRM is a provider of software, data and integrated marketing solutions.

Mayfield Fund said Wednesday that it has named Ursheet Parikh as a partner. Previously, Parikh served as co-founder and CEO of StorSimple, a portfolio company of Mayfield Fund. Based in Menlo Park, Calif., Mayfield Fund is an early-stage venture capital firm.

Hancock Park Associates and Next Point Capital have acquired Sheffield Manufacturing. No financial terms were disclosed. Salem Partners served as advisor for the transaction. Headquartered in Sun Valley, Calif., Sheffield Manufacturing is a producer of precision-machined components for the aerospace sector.

Balance Point Capital Partners said Tuesday that it has named Justin M. Kaplan as a partner. Prior to joining BPCP, Kaplan worked at BNY Mellon Alcentra Mezzanine Partners. Based in Westport, Connecticut, BPCP is a provider of capital to lower middle market companies in the U.S.

Michelman, a  global provider of coatings solutions, has purchased Ecronova Polymer GmbH. No financial terms were disclosed. Based in Recklinghausen, Germany, Ecronova Polymer GmbH, which was previously owned by the company's managing directors and Aheim Capital, a private equity firm, is a maker of water-based polymers used in paint and lacquers.

GI Partners, a middle market private equity investment firm, said Tuesday that it has sold its portfolio company, SoftLayer Technologies, to IBM. No financial terms were disclosed. Morgan Stanley & Co.and Credit Suisse Securities served as financial advisors to SoftLayer for the transaction. Headquartered in Dallas, Texas, SoftLayer is a provider of cloud computing solutions.

Raven Capital Management said Tuesday that it has raised over $150 million in capital commitments for the Raven Asset-Based Opportunity Fund I. Also, Raven named Chris Felice as the firm’s controller. Based in New York, Raven is a private equity firm that provides loans and equity purchases.

Behrman Capital, a private equity investment firm based in New York and San Francisco, said Tuesday that its portfolio company Atherotech has completed a dividend recapitalization. No financial terms were disclosed. Madison Capital Funding and Regions Bank led the recapitalization, which included a new term loan and a revolving credit facility. Based in Birmingham, Alabama, Atherotech is a provider of advanced cardiometabolic testing services.

Quantum Energy Partners, a private equity firm that focuses on the energy sector, said Tuesday that it has formed Rio Oil and Gas with over $300 million in capital commitments. The new company will be led by founders Alan Clemens, who will serve as Rio's CEO and Stacey Cude, who will serve as president and COO. Based in The Woodlands, Texas, Rio will focus on acquiring and developing oil and gas assets in select North American basins.

Prospect Capital Corp. said Tuesday that it has provided $18 million in financing to New Start Metals, a portfolio company of Insight Equity Holdings. According to Prospect, the funding is to support Insight Equity's purchase of Canfield Metal Coating Corp. as well as help partially recapitalize NSM. The Chicago area-based NSM is a provider of steel processing, building products and supply chain management services. Canfield Metal Coating Corp. is a a coil coating company in Canfield, Ohio.