The Aureos Africa Health Fund has invested USD2.75 million in a Kenyan healthcare devices company, Revital Healthcare EPZ Limited (Revital). Revital is based in Mombasa and specialises in the manufacture of single use auto disable hypodermic syringes (AD Syringes). AD Syringes are a key weapon in reducing the transmission of HIV and other blood-borne diseases as they disable after a single use, guaranteeing that they cannot be reused. Their use is mandated by UNICEF and the World Health Organisation.   In addition to the production of AD Syringes, Revital produces a range of other disposable medical products.   The Africa

Atlante Ventures Mezzogiorno, the Intesa Sanpaolo Group’s venture capital fund, is betting on Italian technological innovation and investing EUR4.6 million in three young companies based in Southern Italy: Pantea, Samares and SpinVector.   The three businesses, selected according to their extensive growth potential and goals of becoming leading companies in the coming years, share some fundamental characteristics: they are high-tech firms and plan to invest in Southern Italy, the part of the country for which the fund was created.   If Admantx, the investment of EUR2 million signed last summer, is also considered, the total investment commitments assumed by Atlante

SES Holdings Ltd (Saxon) has merged its rig business with the business of the Schlumberger Rig Management Group. Under the terms of the transaction, 14 Schlumberger land drilling rigs and crews in Oman, Pakistan, and Venezuela will become part of Saxon’s expanded international operations. Saxon will also provide technical drilling contracting support to existing Schlumberger joint ventures and operations in Saudi Arabia, Algeria, Iraq, and Venezuela (Lake Maracaibo). The transaction represents Saxon’s first entry into the Middle East and North Africa region; thereby growing and diversifying the business in key international markets. The transaction not only provides Saxon with increased

RCP Advisors, an independent sponsor of private equity funds-of-funds, secondary funds, and co-investment funds focused on North American lower middle market buyouts, has announced the closing of its first co-investment fund, the USD110 million RCPDirect, LP.   “RCP’s strategy has always been to partner with the best managers in the lower middle market. These relationships will provide RCPDirect with compelling investment opportunities and diligence resources,” says Dave McCoy, Principal of RCP Advisors and RCPDirect’s Portfolio Manager. “We are pleased by the confidence our LPs have placed in us and are excited about the opportunity to expand the co-investment strategy within

The takeover bid for Parseq (AIM: PSQ) by CEO Rami Cassis, backed by Nova Capital Management and Dover Street VII LLP (the close-ended private investment fund controlled by HarbourVest Partners, LLC), has been declared unconditional.  The offer, at 9p per Parseq share, was made via CNH Bidco, a newly-incorporated company formed and controlled by Rami Cassis, Nova and Dover Street. Acceptances from 246,672,233 Parseq Shares, representing approximately 54.13 per cent. of the issued share capital of Parseq, had been received by 1 December 2011.   Parseq provides mobile and online banking software and technology-led outsourcing services to a blue-chip client

Tri-Star Electronics International, a portfolio company of Brockway Moran & Partners, has been acquired by an affiliate of Carlisle Companies Incorporated for USD285 million. The transaction was led by Jon Nemo, Chris Rogers, Chris Smith and Mike Rohman from the firm’s Aerospace, Defense & Government Services (ADG) Group, along with Darwin Olympia from the firm’s Richmond office.  Harris Williams & Co acted as the lead advisor to Tri-Star.   “Brockway Moran & Partners and Harris Williams & Co. have a long history of working together and we are excited to represent them in the sale of Tri-Star to Carlisle. Tri-Star is a

UK-based alternative asset management company Duet Group has invested into Expatcare Health International Ltd, a Health Maintenance Organisation (HMO) based in Nigeria. This investment reflects the growing commitment of Duet to growth capital companies in Africa who are looking to expand their operations. The investment will be made through a convertible instrument converting into a majority stake in the business. Health insurance in Africa is a sector with double-digit growth due to the low penetration of private health insurance and the rapidly increasing middle class. According to Nigeria’s National Insurance Commission, only an estimated 6% of approximately 150 million people

AXA Private Equity is selling its stake in the transport packaging company KTP Kunststoff Palettentechnik (KTP) to Andreas Wintrich and a new investor. AXA Private Equity acquired a majority stake in the company, which is headquartered in Bous, in 2006. Sales have since almost doubled, despite the economic downturn. As a result of the sale, minority shareholder Andreas Wintrich will again become the majority shareholder.   KTP develops and produces reusable transport packaging, including containers, pallets and carrier systems. KTP also offers tailored packaging solutions to its customers. The products are superior to steel rack boxes in terms of their