U.S.-based Overland Storage Inc (Nasdaq: OVRL), which in May agreed to combine with Canada's Sphere 3D Corp (TSX-V, Nasdaq: ANY), has entered into a financing arrangement with an affiliate of its majority investor: U.S. private equity firm Cyrus Capital Partners. Proceeds will give Overland a total of US$7.5 million to complete cost-cutting initiatives and to repay a portion of its debt to Sphere 3D. The latter has agreed to issue shares to Cyrus following completion of the merger transaction. Based in Mississauga, Ontario, Sphere 3D is a virtualization technology provider.
Vista Equity Partners, the technology-focused private equity firm, closed its fifth flagship fund Wednesday at $5.775 billion.
Some of the world's largest pension funds and infrastructure investors are forming consortia to bid for the operator of an Indiana toll road that filed for bankruptcy last month, sources told Reuters. Different investor groups are said to include Brookfield Asset Management, Canada Pension Plan Investment Board and Ontario Municipal Employees Retirement System. A transaction will likely value ITR Concession Co LLC, the operator of the toll road, at between US$4 billion and US$5 billion.
MML Capital Partners has made an undisclosed investment in VIP Cinema Seating. Based in New Albany, Mississippi, VIP is a maker of movie theater seats.
Dubai's Fajr Capital said on Wednesday that it was part of a group including Blackstone and Bahrain sovereign fund Mumtalakat that acquired a "significant minority stake" in United Arab Emirates-based GEMS Education.
European private equity firm CVC is in exclusive talks to acquire Finnish insulation material maker Paroc, two sources told Reuters.
The Riverside Company said Wednesday it has bought a majority stake in Spectrio from SJ Partners and other investors. Financial terms weren’t announced. Oldsmar, Fla.-based Spectrio provides on-hold messaging and digital signage managed services. BMO, NXT Capital and New Canaan provided financing for the transaction. Lazard Middle Market advised Spectrio.
ConvaTec's owners have appointed Morgan Stanley and Goldman Sachs to explore a sale of the medical device maker which could be worth up to $10 billion, sources told Reuters.
Monroe Capital said Tuesday it acted as sole lead arranger and administrative agent on a $35 million loan to support the recap of Trident University by a Northeast-based private equity sponsor. Monroe did not disclose the name of the investor. Cypress, Calif.-based Trident is an online provider of post-secondary educational degree programs.
Leeds Equity Partners has acquired iModules Software. Financial terms weren’t announced. Leawood, Kan.-based iModules provides software for the educational institutions. Aeris Partners advised iModules.