Allocations
Private equity firm The Sterling Group’s affiliated investment fund, Sterling Group Partners III, has completed the acquisition of ROM Corporation and Specialty Manufacturing Inc (SMI).
The businesses have been combined through its holding company, Safe Fleet Acquisition Corp. The investment is Sterling’s fifth investment in its third fund, a USD820m fund raised in 2010. The companies were formerly owned but independently operated and financed by Century Park Capital Partners.
Headquartered in Belton, Missouri, the newly combined company provides safety and productivity-oriented components to the emergency vehicle, truck and trailer, utility vehicle, school bus, and transit bus end markets.
ACTIVE Network is to be acquired by private equity firm Vista Equity Partners in an all cash transaction valued at approximately USD1.05bn.
Under the terms of the agreement Vista will commence a tender offer to acquire all of the outstanding shares of ACTIVE’s common stock for USD14.50 per share in cash, representing a premium of approximately 111 per cent to ACTIVE’s year to date average closing stock price.
The ACTIVE board of directors unanimously recommends that ACTIVE stockholders tender their shares in the tender offer.
"This announcement represents a very positive event for our stockholders and allows
PowerbyProxi, developer of a wireless power system, has received USD4m in funding from Samsung Ventures Investment Corporation (SVIC).
Michael Pachos from SVIC joins PowerbyProxi’s board.
This brings the total value of the company’s Series C financing to over USD9m following an announcement earlier this year that PowerbyProxi had raised USD5m from TE Connectivity and existing investor Movac.
SVIC is the investment arm of the Samsung Group, a global player in areas that range from mobile devices and flat-panel displays to chemicals and life insurance. This investment marks its first in the wireless power industry.
"Receiving this
The TCW Group has acquired Los Angeles-based Craton Equity Partners, a private equity firm that specialises in socially responsible investing.
Terms of the transaction were not disclosed.
Founded in 2006, emerging manager Craton Equity provides growth capital to venture-backed companies within the sustainability, resource efficiency and carbon-reducing technology sectors. The firm has USD241.5m in assets under management and typically invests in companies with low-capital requirement business models that generally operate independent of any tax credits and government subsidies.
“The acquisition of Craton Equity further expands our alternative asset management platform at a time when institutional investors are
AXA Private Equity has completed its spin-out from the AXA Group and will become Ardian, an independent private investment company.
Management and employees of Ardian, led by the Board comprising Dominique Senequier, Vincent Gombault, Dominique Gaillard, and Benoît Verbrugghe (pictured), form the largest shareholding group, holding 46% of the company. With existing teams in place, Ardian will continue to demonstrate the investment expertise, culture and level of service for which the company has been known as AXA Private Equity.
AXA Group, now with a 23% stake, remains a major financial sponsor in Ardian, having agreed to commit 4.8 billion euros
Love Home Swap, the home swap holiday service, has raised a further GBP1.025m follow-on funding from lead investor MMC Ventures.
Love Home Swap has also launched a new Swap Points scheme, a world-first within the social travel sector.
With the new Swap Points scheme, arranging trips becomes easier through the Love Home Swap site as members no longer need to match exact dates and destinations with each other. They can now pledge time in their property to a central bank. In exchange they receive points that they can redeem to stay in other members’ homes around the world for free – without
Albion Ventures, one of the UK’s largest independent venture capital investors, has invested up to GBP3.5m in Relayware, a provider of B2B collaboration and multi-channel communication solutions.
The investment will enable Relayware to accelerate its growth and extend its lead in technological innovation.
Relayware delivers an indirect channel collaboration and communication solution that automates every stage in the channel partner lifecycle. The company estimates that around 96 per cent of companies rely on indirect channels to market, sell and support their products and services yet in many instances the relationship is challenged by a lack of control, accountability
Private equity firm Catterton Partners has made an investment in PIADA Italian Street Food, a fast-casual Italian eatery based in Columbus, Ohio with restaurants in Ohio and Indiana.
Terms of the transaction have not been disclosed.
PIADA currently has 14 locations across the Midwest, with six planned to open by the end of 2013. In 2013, PIADA was named one of Nation’s Restaurant News’ five "Hot Concepts" as well as one of Nation’s Restaurant News’ top 50 breakout brands.
"We are excited to enter into this strategic partnership with Catterton, which has extensive expertise in developing restaurants
RidePal, a provider of Wi-Fi-enabled bus rides for corporate employees, has raised USD3.2m in a series A financing round led by Claremont Creek Ventures and Volvo Group Venture Capital.
RidePal balances commuter preferences and their employers’ needs and optimises pick-up points and route scheduling. RidePal provides rides for the employees of more than 30 companies.
RidePal’s corporate customers range from large corporations such as Intuit and Groupon to smaller ventures including biotech start-up Clinovo.
"RidePal has completely changed my commute and has provided me with 10 more hours of productivity per week," says Sophie McCallum, director of
Omnes Capital is supporting Exclusive Networks in the implementation of the financing of its three-year strategic plan.
Exclusive Networks now has sufficient resources to complete its acquisition programme for 2013 and 2014 which should allow the group to reach a EUR1bn turnover in 2018. Omnes Capital is investing EUR6.7m.
Based in Boulogne-Billancourt (France), the Exclusive Networks group is an independent value-added distributor (VAD) specialising in the marketing of security, storage and networking solutions for businesses, with a 2013 expected turnover of EUR300m before build-up.
Omnes Capital acquired a stake in the company in July 2010 during a
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