WL Ross has completed the purchase of 4.4 million common shares of Navigator owned by Lehman Brothers Inc (LBI) for approximately USD110m.  The transaction was approved by Bankruptcy Judge James M Peck of the Bankruptcy Court in the Southern District of New York overseeing LBI’s liquidation in connection with LBI Trustee James W. Giddens’ role in maximising value for the shares for the benefit of customers and general creditors. The purchase brings WL Ross’ total stake in Navigator to over 50 per cent. As part of the transaction, WL Ross agreed with Navigator to various limitations, including that a majority

Private equity firm Ampersand Capital Partners has sold medical device design company MedVenture Technology to Helix Medical, a manufacturer for the medical device and healthcare industries. Established in 1998, MedVenture is headquartered in the Louisville, Kentucky metropolitan area and employs over 260 associates. MedVenture develops and manufactures minimally invasive surgical devices and catheter-based devices for medical device companies, including Fortune 500 and medical device start-ups. The company develops integrated solutions for the endovascular, interventional cardiology, cardiovascular surgery, neurovascular, urology, oncology, and gynecology markets, among others. The acquisition will enhance Helix Medical’s ability to offer its customers a full spectrum of

Maranon Capital has made an investment in Performance Health and Wellness Holdings to support the acquisition of the business by Gridiron Capital and Performance Health’s management team. Maranon arranged and led a syndicate that provided mezzanine debt and an equity co-investment. Headquartered in Akron, Ohio, Performance Health is a designer, manufacturer and marketer of branded rehabilitation and wellness products. The company’s products include a line of topical analgesics and a broad range of rehabilitation and wellness products including progressive resistance bands and tubing, exercise balls, hand exercisers, stability trainers and a number of other specialty products. In addition, the company

Preqin’s initial public offering pipeline data reveals that there are currently 42 private equity and venture capital-backed companies globally set to list in the coming weeks, seeking to raise USD8.4bn in public offerings.   Twenty-four of these companies are buyout-backed, and a further 18 VC-backed companies have currently filed for an IPO. In addition, as of 15 October, 19 PE-and VC-backed companies have completed their IPOs or follow-on share sales during the month, raising USD4bn in their offerings. This is in marked contrast to the whole of Q3 2012, when USD6.5bn was raised in public offerings during the whole quarter, indicating

Funds advised by European private equity fund PAI Partners are to purchase a 78.39 per cent stake in Marcolin, an Italian eyewear manufacturer, at a price of EUR4.25 per share from family and private owners in a proprietary primary LBO transaction in one of its core investment sectors. On completion, PAI Partners will promote a mandatory public tender offer for the remaining equity, which is publicly traded, at EUR4.25 per share, with the aim of de-listing the company. The transaction is expected to close in late November. Marcolin is one of the largest and fastest growing eyewear manufacturers in Italy

Private equity firm Advent International is to acquire KMD, a Danish IT services and software company, from EQT and ATP. Advent’s investment is subject to customary regulatory approval and is expected to complete by year-end.   Founded in 1972, the company has a long track record as a trusted partner to the Danish public sector. KMD is a market leader in software, services, and business process solutions for the delivery of mission critical public sector services in Denmark. KMD’s technology and service platform administers and processes welfare benefits, private and public sector salaries, and local government finances.   KMD has

Ombu Group, a new UK investment company focused on backing and building UK technology companies, has invested a further GBP5m into Open Energi. This increases Ombu’s total commitment of growth capital into the company to GBP9m and will enable Open Energi to expand its business in the UK and overseas.   Open Energi is a provider of energy demand management solutions. It works closely with energy users to unlock new revenues through a smart approach to managing their energy loads. The company’s solution includes Open Dynamic Demand, an energy demand management solution that reacts instantaneously to second-by-second changes in the