Otonomy, a biopharmaceutical company developing drug therapies for disorders of the inner and middle ear, has closed a USD38.5m series B financing co-led by Novo Ventures and RiverVest Venture Partners and joined by Domain Associates and TPG Biotech. This financing is incremental to the USD10m series A closed with Avalon
Platte River Ventures has taken a controlling stake in Global X-Ray & Testing in partnership with the company’s founding family. Headquartered in Morgan City, Louisiana, Global X-Ray is a provider of non-destructive testing and evaluation services to the oil and gas industry. "We are very excited and looking forward to
Argus Capital and Qatar First Investment Bank have acquired a 40 per cent minority stake in Memorial Healthcare Group, a Turkish healthcare provider. Memorial operates three hospitals and two medical centres in Istanbul and one hospital in Antalya. Turgut Aydın and his family maintain 60 per cent of the group’s
The J.P. Morgan Private Equity fund received distributions of approximately USD18m in the second quarter of 2010, more than three per cent of its private equity portfolio value. Capital calls for the quarter continued to remain low at USD3.2m, less than one per cent of the private equity portfolio value.
Air Medical Group has signed a definitive agreement under which a Bain Capital affiliate will lead a recapitalisation of the company in partnership with management and current investors Brockway Moran & Partners and MVP Capital Partners. Air Medical Group, the largest independent provider of air medical services in the world,
CVC Capital Partners and Leslie’s Holdings have reached a definitive agreement for funds advised by CVC to invest in Leslie’s, a retailer of swimming pool supplies and related products in the US. Existing equity holders, including affiliates of Leonard Green & Partners and management, will maintain large ongoing ownership stakes
Less than a quarter of private real estate fund investors made a commitment in the first half of 2010, research by Preqin shows. Quarter two 2010 saw 20 private equity real estate funds raise an aggregate USD7.3bn, the lowest quarterly fundraising total since Q3 2004. Forty two per cent of
NB Private Equity Partners’ unaudited net asset value increased by USD1.8m during the six months ended 30 June 2010 to USD9.50 per share. This represents an increase of 0.4 per cent compared to the audited NAV per share of USD9.46 at 31 December 2009. During the first half of
Medical device company Stryker has signed a definitive agreement to acquire privately held Gaymar Industries for approximately USD150m in an all-cash transaction. Gaymar specialises in support surface and pressure ulcer management solutions as well as the temperature management segment of the healthcare industry. The transaction, which is expected to close
Rutland Partners has exchanged unconditional contracts with Wolseley for the acquisition of Brandon Hire. The consideration will be GBP43m payable in cash on completion subject to normal closing adjustments. Brandon is a tool and equipment hire business with a national network of 177 depots. It has over 50,000 local trade
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