The gradual recovery in deal flow in private equity’s UK lower mid-market continued during the second quarter of 2012, as the Eurozone crises’ impact on confidence and the availability of leveraged debt continued to dampen the wider continental buyout market. According to Lyceum Capital and Cass Business School’s UK Growth Buyout Dashboard, the quarterly analysis of UK-headquartered private equity control deals in the GBP10m to GBP100m enterprise value range, a total of 25 deals completed across the segment during the first three months of the year with an aggregate value of GBP728m.   The figures represent a 25 per cent

Great Point Partners, a Greenwich, Connecticut-based private investment firm focused on the healthcare industry, has led a USD20m funding round in growth recapitalisation of Connecture.  Existing investor Chrysalis Ventures also co-invested in the financing. The investment will enable Connecture to meet the demand from states for the creation of health insurance exchanges mandated by the Patient Protection and Affordable Care Act (PPACA). In addition, the investment will support Connecture’s ongoing investment in software innovation that benefits the health plan, broker and insurance exchange markets. In addition to projected growth in excess of 50 per cent for 2012, this investment adds

The Riverside Company has acquired the US food ingredients distribution business of Centerchem, a distributor of Capol products. Based in Elmshorn, Germany, Capol is a Riverside platform company that develops and manufactures polishing, anti-sticking and release agents used for confectionary applications. The new US operation, Capol LLC, is based in Northbrook, Illinois.   Capol sells to clients in more than 60 nations.   “Acquiring this business unit provides Capol with direct access to a large blue-chip customer base in the crucial North American market,” says Riverside principal Dominik Heer. “This add-on acquisition will drive growth and improve both top line

Tech Coast Angels (TCA) raised more than USD10m of total investment in 17 companies, including USD4,571,000 of direct TCA investment, during the first half of 2012 via the group’s five networks in Los Angeles, Orange County, San Diego, Central Coast, and Inland Empire. The investment portfolio for the period spans a wide spectrum of young, innovative companies, from mobile advertising platforms and social loyalty marketing, to biopharmaceuticals and organic plant food. Companies funded by TCA in the first six months of 2012 are: Active Life Scientific, Cadence Biomedical, Cashie Commerce, Cognition Therapeutics, Emerald Logic, ExtendCredit, Gemmus Pharma, GridTest Systems, H2scan,

An affiliate of Lightyear Fund III has completed its acquisition of the Healthcare Benefit Solutions business from FIS. Lightyear previously announced the signing of a definitive agreement to acquire the business on 25 June 2012. The new company has been renamed and will operate as Alegeus Technologies. Alegeus is provides benefits administration and payment processing for consumer directed healthcare accounts. Robert Natt will be Alegeus’ full time executive chairman and Thomas Torre will be its chief executive officer. “There is tremendous opportunity to grow and expand this business, and we look forward to working closely with Bob Natt, Tom Torre

The Carlyle Group and Getty Images management have formed a partnership to acquire Getty Images, a creator and distributor of still imagery, video and multimedia products, from Hellman & Friedman for USD3.3bn. Carlyle will acquire a controlling stake in Getty Images, while Getty Images co-founder and chairman Mark Getty and the Getty family will roll substantially all of their ownership interests into the transaction. Getty Images management, including co-founder and chief executive officer Jonathan Klein (pictured), will also invest significant equity in the company. “Getty Images consistently demonstrates growth, leadership and prominence as one of the world’s leading media companies.

Medical Marijuana has signed closing documentation for a USD2m line of credit with Lotus Capital, a Chicago based private equity firm. The line of credit will be used as a reserve fund for product expansion of the Dixie X line of Cannabidoil (CBD) based products as well as to support the national marketing campaign of the Dixie X and CanChew gum product launch, scheduled for early September.  The line of credit will also be available to support future expansion through company acquisitions. This new revolving line of credit will be secured against shares of the company’s capital stock. MJNA is

MCG Capital has closed its investment in IDOC consisting of senior debt and equity. IDOC, a portfolio company of The Riverside Company, is comprised of an alliance of independent optometrists throughout the US, including practices representing more than 1,400 optometrist members. The IDOC investment is MCG’s first with The Riverside Company, a private equity firm focused on acquiring growing businesses valued at up to USD200m (EUR200m in Europe).  

Albion Ventures has invested GBP1.3m in partnership with Welsh based developer Dragon Hydro to fund the development of a single 300kW hydropower scheme on the Afon Cadair river in the county of Gwynedd in Wales. The site in Wales will benefit from the Feed-in-Tariff regime and is expecting to generate its first electricity in Q3 2013. The installation is forecast to generate an average 1,300MWh of electricity per year, enough to power up to 300 households. This investment is Albion’s seventh investment into renewable energy and continues Albion’s strategy of expanding into this sector. Dragon Hydro will provide funds managed