Deals
Oceans Healthcare, Louisiana’s largest provider of psychiatric facilities for geriatric patients, has closed a USD17m round of strategic growth equity financing from General Catalyst Partners.
The financing will be used to capitalise the organisation as a foundation for its geographic expansion.
As part of the transformation, Charlie Baker, former chief executive of Harvard Pilgrim Healthcare, one of the country’s top-rated health benefits companies, will join Oceans as chairman of the board.
David Fialkow, Brian Shortsleeve, Gabe Ling, and Charlie Baker, all of General Catalyst Partners, will join Oceans’ board of directors. Co-founders Jason Reed and Nick Guillory, founded Oceans in
Unilever Ventures has sold its stake in BAC to Nasdaq-listed Life Technologies, which had revenues of USD3.7bn in 2011, in a deal advised on by mid-market advisory firm Clearwater Corporate Finance.
Netherlands-based BAC specialises in the discovery, development and manufacture of protein purification products. The company has been acquired by global biotechnology business Life Technologies for an undisclosed sum.
The acquisition will expand Life Technologies’ capabilities and product offering in the growing market of biopharmaceutical research and manufacturing.
The team at Clearwater comprised partner Philip Nuttall and senior healthcare analyst Ramesh Jassal, with support of director Nick Horrocks,
Hamilton Portfolio, a private equity firm founded by entrepreneur John Boyle, has concluded the sale of UK expense management firm Global Expense for GBP14m to the American technology company Concur.
Global Expense manages the expenses process for leading companies in the UK, including British Airways, Sainsbury’s, Fujitsu and Asda. The company is headquartered in London with a processing centre in Kent.
Hamilton Portfolio is Global Expense’s largest shareholder and invested GBP1.6m over a 10-year period.
Boyle says: “This is a successful example of venture, not vulture capitalism. Hamilton has been deeply involved in the management and operation of Global Expense
Impetus Trust and The Private Equity Foundation (PEF) are to merge into one organisation, Impetus – The Private Equity Foundation.
The proposed new entity will bring together 16 years’ experience of supporting charity scale up and sustainability through venture philanthropy.
It will have a special focus on enabling best-in-class charities to help many more of the most deprived children and young people.
It is proposed that the chairman of the merged entity will be Johannes Huth and Louis Elson will serve as deputy chairman.
The chief executive of Impetus – The Private Equity Foundation will be Daniela Barone Soares (pictured),
Veggie Grill, a West Coast restaurant concept known for plant-based food, has completed its fourth round of equity funding with an investment from Brentwood Associates.
Armed with 16 per cent same-store-sales growth, a more than doubling of restaurant locations in the most recent year, and strong investor confidence, the company quickly secured the USD20m common stock funding from both current shareholders and new investors.
Chief energizing officer Greg Dollarhyde says: "The interest we received from our investors was quite substantial and exciting. This additional capital base will support our aggressive growth plans to meet the increasing consumer demand for delicious,
Frontier markets investment banking boutique Exotix has entered into a partnership with TLG Capital, a private equity investor in sub-Saharan Africa and frontier markets.
The agreement will see Exotix provide advice and capital raising support to TLG Capital.
It will also enhance Exotix clients’ access to opportunity rich markets in sub-Saharan Africa. In addition to the strategic partnership, Exotix management will also be personally investing in the platform
TLG Capital brings together regional and sector specific funds under a single platform for the benefit of investors and fund managers alike. This centralised platform offers a more stable framework through
Avillion has received initial funding from Abingworth and Clarus Ventures.
Avillion, based in London, UK, is partnering with pharmaceutical and biotechnology companies to co-develop and finance late stage therapeutics.
The company will use its clinical development and regulatory expertise to obtain global approvals for a broad range of drugs and biologics.
Lewis Cameron, chief executive of Avillion, says: "Avillion offers pharma and biotech companies a compelling option to partner late stage drug approval projects globally. We have an experienced team focused on global drug development and approval, with the capability to optimise CRO management."
Cameron has held senior executive positions
Investment into European companies continued its year-over-year decline during a weak fourth quarter of 2012, as Europe-based companies raised EUR967m from 233 venture capital deals, according to Dow Jones VentureSource.
The drop represents a 26 per cent decrease in capital and a 22 per cent decrease in deals from the same period in 2011.
During 2012, venture capitalists put EUR4.4bn into a total of 1074 deals, a slight drop of nine per cent in capital invested and 11 per cent in the number of deals completed in 2011.
“With M&A at its lowest since VentureSource started tracking data
Smedvig Capital, the London-based venture capital firm, has sold Swedish self storage company Selstor to Pelican Self Storage, another significant self storage player, operating in Copenhagen and Helsinki.
Established in 2009, Pelican Self Storage is focused on the development, redevelopment, acquisition and operation of self storage facilities in Scandinavia.
Selstor was founded in 2006 by Michael Fogelberg to take advantage of the under-penetrated Swedish self storage market. Smedvig Capital first invested in Selstor in 2008 and has been closely involved in the business, working extensively with management in a variety of areas. This included structuring the ongoing financing for
PE-Nexus, the private market network for deal flow exchange between middle-market M&A professionals, facilitated a USD4m senior secured debt financing of HomeTown Oxygen by New York City-based Enhanced Capital Partners through its SBIC fund, Enhanced Small Business Investment Company (ESBIC).
Sell-side representation to HomeTown Oxygen was provided by the Charlotte office of Atlanta, GA-based Summit Acquisitions Group.
The PE-Nexus platform connected the two via its sweeping Buy-Side Mandate functionality, a communication tool that broadcasts specific acquisition criteria to the entire PE-Nexus ecosystem in seconds.
"We’re delighted to learn about another success story brought about by our Buy-Side Mandate tool. To
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