Deals
Private equity firm Thoma Bravo has completed the acquisition of Deltek, a provider of enterprise software and information solutions for professional services firms and government contractors, for USD13 per share or USD1.1bn.
With the transaction completed, Deltek’s stock ceased trading on the Nasdaq under the ticker symbol PROJ at market close yesterday.
Deltek will remain headquartered in Herndon, Virginia, and will continue to be led by its existing senior management team.
“We look forward to partnering with existing management to accelerate growth through Thoma Bravo’s proven buy and build strategy,” says Holden Spaht (pictured), partner at Thoma Bravo. “We’re confident
IO, a provider of next-generation modular data centre technology and services, has raised USD90m in equity from a group led by New World Ventures, a Chicago-based venture capital firm focused on technology innovations.
Existing IO investors also participated in the funding.
"From the moment we saw this product, we knew it would revolutionize the industry," says Chris Girgenti, New World Ventures managing partner and newly appointed member of IO’s board of directors. "Designed from the ground up, IO delivers world class data centre infrastructure capacity at substantially lower capital cost, with significantly shorter lead times, while providing industry leading energy
Capital Dynamics, as the private asset manager for a UK pension fund, has acquired a 26-megawatt (MW) portfolio of gas-fired power plants from UK Coal Plc.
The portfolio consists of four sites located in North Yorkshire and the East Midlands that recover waste mine methane and convert it to electricity, which is sold under long-term sales contracts with both UK Coal and other major UK energy suppliers.
Capturing waste mine methane to produce electricity is an important step toward more sustainable energy production. Preventing methane – a 25-fold more potent greenhouse gas than CO2 – from escaping directly into
Private equity funds in the US raised nearly as much capital in the first three quarters of 2012 as during the entire 2011 calendar year, according to Dow Jones LP Source.
In addition, 2012 commitments from limited partners in Europe are on track to surpass 2011 fundraising.
During the first three quarters of 2012, US private equity firms raised USD130.1bn for 326 funds, a 36 per cent increase in capital raised despite 19 fewer fund closings as compared with the first three quarters of 2011, and nearly matching the USD131.5bn total capital raised during 2011.
In the third quarter
JZ Capital Partners (JZCP), the London listed private equity fund which invests in US, European and Latin America micro cap companies, deployed a total of USD130.8m across 17 new investments during the six months to the end of August 2012.
JZCP made USD85.7m of new investments across all industry verticals in the US micro-cap portfolio, increasing the size by 41 per cent to USD289m.
Investments in the European Micro Cap Fund (EMF) meanwhile, reached USD81.3m representing 14 per cent of total assets, following EMF’s EUR13.5m investment in Oro Direct – a precious metals trading business in Spain.
JZCP also completes
FSAstore.com, an e-commerce site exclusively stocked with Flexible Spending Account (FSA) eligible products and services, has closed its second round financing of more than USD2m.
The financing, led by Originate Ventures, includes investment from previous investors Point Judith Capital and Columbia Business School Lang Fund, as well as additional angel investors.
The funding will be used to accelerate sales, marketing and development initiatives, as the company continues to expand to meet growing consumer demand for its products and services.
FSAstore.com enables consumers with Flexible Spending Accounts to use their tax-free dollars to purchase more than 6,000 healthcare products and browse
An affiliate of private equity investment firm Paine & Partners has entered into a definitive agreement with Aquanova International, a company controlled by Global Capital Investors II, a private equity fund advised exclusively by Global Finance, as well as with Bellaria Holding, for the sale and purchase of majority ownership of Eurodrip.
Under the agreement, the Paine & Partners affiliate would purchase all of the shares of Eurodrip currently held by Aquanova International and Bellaria, which represent approximately 67.5 per cent of the company’s outstanding shares, for a price of EUR1.53 per share.
The purchase price represents a premium of
3i-backed SLR Management, the international environmental consultancy, has acquired GSS Environmental, an Australian provider of environmental consulting and project management services to clients in the mining, minerals, land development and natural resource sectors.
GSS Environmental is a top three environmental consultant to the coal extraction industry in Australia, having advised on approximately 60 per cent of Australia’s coal mines, which counts BHP Billiton, Rio Tinto and Xstrata amongst its clients. With turnover for the period ended 30 June 2012 of GBP5m, it has 50 employees operating from offices in Newcastle, in New South Wales, and Mackay, in central Queensland.
The
Palatine Private Equity portfolio company Air Energi Group has completed a management buyout led by LGV Capital.
The deal sees LGV acquire a majority interest in the business. HSBC provided a senior debt package and various increased working capital facilities globally.
Palatine Private Equity, Air Energi Group’s previous investor, has exited the business after three years. During the period of their investment, the business has more than doubled net profitability.
Ian Langley, Air Energi Group chairman, says: “We are very pleased to complete this buyout transaction following a positive investment experience for Palatine and all of the shareholders in the
Graphite Capital, a UK mid-market private equity specialist, has sold NES Global Talent, the international technical recruitment group, to funds advised by AEA Investors for GBP234m.
NES places highly skilled contract engineers and project managers with blue chip, multi-national clients, principally in the oil and gas industries, and also in the power and infrastructure sectors.
Graphite backed a management buyout of the business, led by Neil Tregarthen, in September 2006 at an enterprise value of GBP70m.
NES has grown EBITDA organically every year since the MBO despite the difficult economic climate. Net fee income has more than doubled
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