Private equity-backed medical billing services company MedData Inc. has acquired MedDirect Inc., a Grand Rapids, Mich.-based patient services company. Terms of the deal were not released. Brecksville, Ohio-based MedData is a portfolio company of a portfolio company of Baird Capital Partners, the U.S.-based buyout fund of Baird Private Equity.
CID Capital has acquired Westone Laboratories, a maker of hearing healthcare products and consumer audio products. Terms of the deal were not released. CID Capital is a lower-middle market private equity firm.
Grey Mountain Partners has acquired Rockwall, Texas-based Columbia Commercial Building Products. Columbia Commercial manufactures high-performance extruded aluminum windows and store fronts for new and replacement construction. Terms of the deal were not released. Grey Mountain Partners is a Boulder, Colorado-based private equity firm.
Online voting technology company SCYTL is acquiring SOE Software, a maker of election management software. Terms of the deal were not released. Barcelona-based SCYTL is backed by venture funds Nauta Capital, Balderton Capital and Spinnaker. SOE Software is based in Tampa, Fla.
(Reuters) – Apple said on Wednesday it had bought Israel’s Anobit, a maker of flash storage technology whose chips it already uses in gadgets such as the iPad. Israeli media reported on December 20 that Apple bought Anobit for as much as $500 million, its first acquisition of an Israeli company. Apple declined to comment […]
First Reserve's Energy Infrastructure Fund is teaming up with Beowulf Energy to invest in power generation and midstream assets in the Eastern Caribbean. First Reserve is buying from Beowulf an equity stake in Trinity Power Limited, a power generation facility in the Republic of Trinidad and Tobago. Specific financial details of the deal were not released. First Reserve's Energy Infrastructure Fund closed in April 2011 with $1.23 billion in committed capital.
Clearlake Capital Group has recapped Entelos Holding Corp., taking a majority stake in the company. Entelos is a provider of in silico modeling and simulation products and services that support pharmaceutical companies. Terms of the deal were not released. Entelos is based in San Mateo, Calif.
China-focused buyout shop Lunar Capital is paying $100 million for a controlling stake in Chinese baby products maker Yeehoo Group Ltd., Reuters reported Wednesday. The company has more than 650 stores across 138 of China's cities, Reuters wrote.
Buyout firm PAI Partners is selling a 25.7% stake in Danish food ingredients maker Chr. Hansen for roughly 560 million euros ($715.56 million), Reuters reported Wednesday. The buyer is Novo A/S.
Eric Zoller co-founded Sixpoint Partners in 2007 with Seth "Yossi" Siegel. The placement agent, which has offices in New York and San Francisco, helps GPs raise capital with a fund size from $300 million to $1.5 billion. They also advise on the sale of secondary positions. Zoller spoke to me by phone to give me some tips on fundraising. What's the number one thing that GPs do wrong when they fundraise?
Poor communication with LPs is the number one failing. This happens from two perspectives. Too often GPs will announce the launch of their fundraise without soliciting input from their existing investors. GPs should maintain an ongoing dialogue with LPs before, during and after an annual meeting. However, they sometimes will spontaneously announce to investors the fact that they're coming to market. There isn’t enough ongoing communication about the firm’s development, strategy and fundraising status on a day-to-day basis between GPs and the LPs. These are people that you have to have ongoing communication with. Existing investors shouldn’t hear about the launch of your fund from a news article or chatter in the market. They should really hear about the launch of the fund from you. Also, the GP should really solicit existing investor input before going out. This is very important.