Rockbridge Growth Equity has acquired Rapid Financial Services, which does business as RapidAdvance. Financial terms weren't announced. Bethesda, Md.-based RapidAdvance provides capital for small business. Current investors Andrew Cherner, Jonathan Cherner and Steven Mandis will remain shareholders of the company.
TA Associates has acquired a majority stake in SoftWriters Holdings. Financial terms weren't announced. Allison Park, Pa.-based SoftWriters provides pharmacy management software to the long-term care industry. Robert W. Baird & Co. served as financial advisor to SoftWriters. News of the SoftWriters sale was reported by peHUB last week.
EQT has invested in Avenso. Financial terms weren't announced. Burda, a minority shareholder, has sold its stake to EQT. Founded in Berlin, Avenso operates a gallery networks for photographs globally.
Equity contributions on large leveraged buyouts are falling to levels not seen since the height of the buyout boom in 2007 as borrowers achieve more aggressive terms on deals from cash-rich investors eager to put money to work, writes Reuters. More positive macro-economic conditions throughout the course of 2013 and a shortage of M&A has allowed sponsors to drive more advantageous terms on their deals.
Riverside Partners, a Boston-based private equity firm, has completed its acquisition of a majority equity interest in AMCAD, an enterprise software company dedicated to providing software solutions and services to the public sector including state, county and local governments. Terms of the transaction were not disclosed.
Element Partners, a growth equity fund focused on industrial technology companies, has completed an investment in Hayward Gordon. Hayward Gordon, headquartered in Toronto, Ontario, designs, manufactures and distributes mixers, pumps, and engineered systems for challenging fluid handling applications.
Confie Seguros, a provider of personal lines insurance, is to acquire the retail distribution arm of Affirmative Insurance Holdings. Confie Seguros is a portfolio company of ABRY Partners.
French turnaround investor Perceva is taking over the Monceau Fleurs Group. The firm is undertaking a comprehensive recapitalization of the group’s balance sheet.
K-V Pharmaceutical Company said Monday that it has completed a $375 million recapitalization. Capital Ventures International, Greywolf Capital, Kingdon Capital, Silver Point Finance and Deutsche Bank with provided most of the funding. As a result of the transaction, KV has emerged from chapter 11. Jefferies LLC served as financial advisor. Headquartered in St. Louis, Missouri, KV is a pharmaceutical company that focuses on women's healthcare.
Lighting Science Group Corp. said Monday that it has raised $20 million in preferred stock financing. Pegasus Capital Advisors was the lead investor, with participation from Riverwood Capital Partners. According to the company, the capital will be used for growth and product development. Lighting Science Group Corp. is a maker of LED lighting solutions.