Preclick Corp., a Philadelphia-based provider of digital photo software for companies like Wal-Mart, Cosco and SanDisk, has raised $1.6 million in Series A funding. Backers include LORE Associates, Mid-Atlantic Angel Group, Robin Hood Ventures and SJF Ventures. www.preclick.com
MEDirect Latino Inc., a Pompano Beach, Fla.-based distributor of diabetic diagnostic testing supplies and related products, has raised an undisclosed amount of VC funding from Granite Creek Partners. www.medirectlatino.org
Argos Utilities Corp., a Bethesda, Md.-based provider of transmission and distribution services to utility customers, has completed its acquisition of Contracting Enterprises Inc., a Roanoke, Va.-based provider of utility construction services to electric and gas utilities in Virginia, West Virginia and Tennessee. Cadent Energy Partners provided equity to support the acquisition, while a senior note […]
Nordic Partners has agreed to sell Denmark-based Dangaard Telecom AS to Brightpoint Inc. (Nasdaq: CELL) for approximately $300 million in Brightpoint stock. The total deal is valued at around $600 million, including $300 million in assumed debt and the 30 million Brightpoint shares.
Milestone Capital Management, a Washington, D.C.-based private equity firm, has changed its name to Blackstreet Capital Management. This is considered the final step in the firm's separation from Milestone Merchant Partners, which was initiated in January 2005. The firm also has relocated to Bethesda, Maryland.
The Teachers' Retirement System of Illinois has made the following fund commitments: $100 million to Leonard Green Equity Investors V; $100 million to Silver Lake Partners III; $50 million to Carlyle Venture Partners III; $50 million to Lehman Brothers Merchant Banking Partners IV; and $25 million to Providence Equity Partners VI (in addition to earlier […]
Elka Nir has joined Giza Venture Capital as a managing director in charge of the firm's life sciences practice. She previously served as COO and development & operations manager of Biosense Webster, a J&J subsidiary. www.gizavc.com
Steve Swad reportedly has resigned as CFO of AOL, in order to join a private equity firm. An Associated Press report on the matter does not specify the firm, but says that he will remain at AOL until a replacement is found. www.aol.com
Morgenthaler Partners has promoted Karen Tuleta to partner. She oversees the firm's capital markets group, and has been the Morgenthaler for 12 years. www.morgenthaler.com
Francis deSouza, founder of IMlogic, and MIT microbiology professor Anthony Sinskey have joined the advisory board of Kodiak Venture Partners. www.kodiakvp.com