Allocations
HIG Capital has successfully closed HIG BioVentures II, LP, which was over-subscribed with total aggregate commitments of USD268 million, exceeding its USD250 million target.
The funds were raised entirely from limited partners specific to HIG BioVentures II, including a diverse group of top-tier global investors, including public and private pension funds, foundations, funds of funds, and large private family wealth managers.
The Fund will make venture capital investments in innovative, product development focused healthcare companies located throughout North America. The Fund will invest in a broad range of sectors and development stages, with a focus on pharmaceuticals, medical devices, and
Accordion Partners, a financial services firm delivering deal and project execution services to private equity firms and corporate development groups, has completed a capital raise led by a mix of institutional and high net worth investors.
The capital raise was led by Eagle Proprietary Investments Limited, a Dubai-based investment firm registered with the Dubai International Financial Centre (DIFC), with additional investments from strategic investors, including Peter Lehrman of AxialMarket and Alec Guettel, co-founder of Axiom Law. Each investor brings substantial professional networks and industry expertise important to Accordion’s mission and growth plans.
Accordion acts as an in-house team for its
In the first quarter, US and European private equity funds held more closings and raised more capital than in the same period last year, but more than half the capital raised in each region went to a small contingent of firms.
US private equity funds raised USD38.1 billion for 136 funds, a 4% increase in capital raised and 5% increase in fund closings from the first quarter of 2011. In Europe, private equity fund-raising spiked to USD22.3 billion raised for 43 funds, an 82% increase in capital and 10% increase in fund closings, according to Dow Jones LP Source.
Piper, a private equity specialist in consumer brands, has taken a significant minority stake in Loungers, the operator behind the highly successful Lounge café-bar chain.
Loungers was founded in 2002 by a trio of longstanding friends, Alex Reilley, Jake Bishop and Dave Reid, who saw an opportunity to create a new chain of informal, neighbourhood all-day café-bars. Their idea was to provide customers with a ‘third space’ between work and home to meet, chat, eat and drink – a much more attractive and appealing alternative to the surrounding local pubs and coffee bars. Loungers opened its first unit in Bristol and there are now five Lounges in Bristol and more than
Mistral Equity Partners, a private equity firm focused on the consumer, retail and consumer media sectors, has invested growth capital in XpresSpa, a leading airport retailer of spa services and spa and travel related products, with thirty-eight locations in the United States and the Netherlands.
"This concept pioneered and defined the airport spa segment,” says Andrew Heyer (pictured), Managing Partner of Mistral Equity Partners. “XpresSpa has enormous untapped growth potential and a differentiated concept that has become a cornerstone of airport retail offerings, playing a crucial role in delivering health and wellness services to travellers in over 19 airports. Through
Shoosmiths’ Birmingham corporate team has advised MML Capital Partners on the sale of Virginia-based Cableform Inc to Hubbell Inc.
This is the fourth consecutive deal completed by Shoosmiths on behalf of MML within the last ten months, having simultaneously advised on the sale of Rotary Precision Instruments to German manufacturer, Huber Diffraktionstechnik GmbH & Co. KG.
Shoosmiths advised on the sales of subsidiaries ZEAG and Zodion in 2011, bringing present total deal value to around £35m.
The latest deal involved the disposal of Cableform – a manufacturer of large DC motor controls for mining, steel, and transportation industry customers worldwide
Les Laboratoires Nutrition & Cardiometabolisme have successfully completed their second funding round totaling EUR3.5 million. This round was led by Seventure Partners accompanied by a group of investors from South-Western France (IRDI, GSO Capital, Aqui-Invest) and LNC’s historical shareholder EPI.
LNC designs and develops Medical Nutrition products, tailored to meet the specific needs of patients suffering from metabolic diseases (diabetes, cardiovascular disease).
"Coming from the pharmaceutical industry, LNC managers are convinced that patients with these chronic condition benefit from a comprehensive health care offering. This offer comprises the assembly of drugs, disease-specific nutrition products and services. What are the objectives
High Street Capital has partnered with the TLC Companies’ CEO Tim Coughlin and other members of the management team plus Cohesive Capital Partners, to fund the TLC’s growth plan and provide liquidity for its owners.
High Street Capital will be working closely with the management team to acquire additional clients, expand TLC’s service offering and grow the company through a combination of organic initiatives and add-on acquisitions.
TLC, headquartered in Brooklyn Center, Minnesota, is the nation’s largest provider of outsourced human resource services for the transportation industry. TLC’s service offering includes payroll processing benefits administration, workers compensation and unemployment claims
Maven Capital Partners has provided a GBP3m funding package in support of the MBO of Cat Tech International from US environmental services business Clean Harbors Inc.
Operating from offices in UK, Bulgaria, Sweden, China, Singapore and Thailand, Cat Tech is a leading provider of industrial services to oil refineries and petrochemical plants across several major international markets.
The company specialises in servicing equipment containing chemical reaction catalysts and introducing processes to improve catalyst handling operations where the ability to maintain operational efficiency is critical and there is an increasing focus on health and safety issues.
Operating in a sector with
Private Equity firms invested about USD1,886 million across 90 deals during the quarter ended March 2012, according to a study by Venture Intelligence.
The investment amount was almost half that was invested in the same period last year (USD3,614 million across 107 transactions) and represents the third consecutive quarter of deceleration in PE investments in the country. The immediate previous quarter had witnessed USD1,470 million being invested across 120 transactions. There were six reported PE investments worth over USD100 million (and none above USD200 million) during Q1 2012 compared to nine such transactions in the same period last year (which
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