Acorn Energy, the listed, Delaware-based energy technology company, will sell its CoaLogix Inc. to private equity firm Energy Capital Partners, a PE firm focused on energy infrastructure. Acorn initially developed the company with an investment from EnerTech Capital Partners and CoaLogix executives in 2007, when it bought SCR-Tech LLC. Merriman Capital, Inc. advised Acorn Energy in connection with the transaction.
Chicago-based private equity firm Linden Capital Partners, a healthcare-focused organization, invsted in anatomic pathology laboratory Strata Pathology Services, which is based in Massachusetts. Specifics of the transaction were not publicized. Strata has operated since 1984; Linden operating partner Richard Novak worked on the transaction for the private equity firm. Linden will be represented on the board by managing partner Brian Miller and vice president Todd Van Horn.
As peHUB exclusively reported earlier this month, Wind Point Partners will sell its U.S. Security Associates, a contract guard services provider, to Goldman Sachs Capital Partners. Wind Point had operated the company since 1999; Jim TenBroek, a managing director with WPP, worked on the transaction for the private equity firm.
Yext, the business listings company, raised $10 million from WGI Group, the lead investor, and Sutter Hill Ventures and Institutional Venture Partners. Funds will be used to fuel Yext PowerListings. The company was founded in 2006 by Howard Lerman, Brian Distelburger and Brent Metz.
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Energy Capital Partners is buying CoaLogix Inc. from publicly traded Acorn Energy for $101 million. Acorn Energy currently owns approximately 65% of CoaLogix on a fully diluted basis, with the balance held by EnerTech Capital and CoaLogix management, the firm said in a release. CoaLogix is a provider of SCR catalyst and regeneration technologies, which reduce NOx for coal-fired electric utility power plants. Acorn created CoaLogix in November 2007.
France's Oberthur Technologies is auctioning off large chunks of its business to private equity bidders, Reuters reported, citing the Financial Times. Advent International and One Equity Partners are reportedly the two remaining bidders for a 60% stake in Oberthur's smart card business. The deal could be worth up to 600 million euros ($858 million), Reuters said.
We have another dividend recap. MSC Software is in the market for a $215 million loan, according to Thomson Reuters Loan Pricing Corp. BofA Merrill Lynch is leading the deal, LPC said. MSC is owned by Symphony Technology Group and Elliott Associates.
Proceeds of the loan would fund a dividend to the sponsors, LPC said. Standard & Poor's LCD also reported the dividend Thursday. The size of the dividend is unclear. In 2009, Symphony Technology Group agreed to buy MCS for $360 million. Elliott Associates was the largest stockholder and retained a stake. Palo Alto, Calif.-based Symphony Technology is a PE firm that invests in software and services company. MSC couldn't be reached for comment.
Revenue Cycle Solutions (RCS), which sells revenue cycle management software and services to hospitals, is announcing that it has moved its headquarters from Chicago to Downers Grove, Illinois, 20 miles west of the Windy City. RCS is a portfolio company of the Chicago-based middle market private equity firm Waud Capital Partners, which acquired it last year […]
TA Associates said Thursday that it has invested in DNCA Finance, a French asset manager with €5.8 billion in funds under management. Financial terms weren't disclosed. Gruppo Banca Leonardo, a Milan investment bank, is the seller and it will retain 10%. TA will be the largest shareholder of DNCA while DNCA's management will own more than 40%. Morgan Stanley provided financial advice to TA.