CDC Group plc (CDC), the UK’s development finance institution (DFI), has announced a new USD50 million investment in the first-ever equity investment fund to focus on the very poorest parts of India. CDC is an anchor investor in the Pragati Venture and Incubator Fund (‘Pragati’) and has played a significant role in getting the fund started. As a growth capital fund, Pragati will invest and play an active role in developing companies across multiple sectors including healthcare, ancillary infrastructure services, ancillary oil and gas services, manufacturing and education. These companies will be at a stage where they require professional management

Aura Capital, a Finnish venture capital firm, has divested its share in Fromdistance, a device management software company, to the American-based Numara Software. Aura Capital invested in Fromdistance in 2008.    Fromdistance, founded in 2004, is a software company specialised in device management and sophisticated mobile applications for business use. Aura Capital invested in the company in 2008, especially due to its technical excellence and customer-driven innovation in a situation where the market was just about to emerge.   “We are happy to see Fromdistance taking a logical step as part of Numara Software. This further substantiates Aura Capital’s successful

Private equity investment firm ClearLight Partners is to sell 100% of Switchcraft Holdco, Inc to HEICO Corporation. Financial terms of the transaction have not been disclosed. Founded in 1946, Switchcraft is a premier designer and manufacturer of high-performance electronic connectors, cable assemblies, and other value-added products and systems used in diverse applications in the global electronics industry. Headquartered in Chicago, Illinois, the Company operates state-of-the-art manufacturing facilities in Chicago, Illinois, Villa Park, Illinois, and Inchon, Republic of South Korea. Jay Shepherd, Partner at ClearLight, says: “Keith Bandolik, Dave Dunmead and the other senior managers at Switchcraft have done an excellent

OMERS Private Equity, the private equity arm of the OMERS Worldwide group of companies, has partnered with existing management to purchase GEDC Super Holdings Inc. (together with its affiliates, "Great Expressions" or the "Company") from affiliates of private equity firm Audax Group. Founded in 1982 and headquartered in Bloomfield Hills, MI, Great Expressions is a leading dental practice management ("DPM") company, with 152 affiliated dental offices in seven states across the Midwest, South and Northeast. In the past three years, the Company has grown by adding and successfully integrating 79 offices through 10 acquisitions. With over 1,800 clinical and support

Atlantic Street Capital, a private equity firm investing in the lower middle market, has acquired Z Wireless, a retailer of Verizon Wireless voice and data communications services operating throughout the Great Plains. Headquartered in Sioux Falls, SD, Z Wireless markets and sells a full suite of Verizon Wireless products and services from over 100 stores in nine Midwestern states.  It is the largest operator of exclusive Verizon Wireless Premium Retailer stores in that region. In addition to wireless services, the company also sells a comprehensive mix of wireless devices, including smartphones, voice phones, tablets, and a broad range of accessories

Mid-market private equity firm Palamon Capital Partners has acquired a majority stake in QualitySolicitors, a leading UK brand of high-street solicitors for individuals and SMEs. Details of the transaction have not been disclosed.   QualitySolicitors was founded in 2009 with the aim of building a national legal brand focused on providing improved standards of service to individual customers and SMEs. The UK high-street legal market, which represents GBP10 billion in annual revenue, is highly fragmented with approximately 10,000 firms, the vast majority of which have less than 25 solicitors. The Company has rapidly built a network of 300 locations across the UK, comprising

Lithuania SME Fund managed by BaltCap, the largest private equity and venture capital investor in the Baltic countries, has invested in Impuls LTU, operator of the leading Lithuanian health and fitness club chain.  With eight gyms in Lithuania’s main towns, Impuls LTU will be the largest health club chain in the country. Impuls LTU operates only large format clubs the size of which ranges from 2000 sq metres to 6600 sq metres. Impuls clubs offer their clients main workout and cardio areas, group exercise classes and pools as well as additional products and services. The investment should support an aggressive

Mid-market private equity firm LDC has funded the acquisition of US based MetricTest for portfolio company Microlease, the international provider of rental and asset management services to the test equipment market. LDC originally backed the GBP30m management buyout of Microlease in 2006, investing a further GBP8.3m in 2009 to provide further capital to support a programme of acquisitions and continued organic growth.   The business subsequently acquired rental specialist Telogy International NV in 2009, making Microlease the largest provider of its kind in Europe with the most comprehensive portfolio of services, followed by Hamilton Hall Consultants earlier this year to

Saffar Holdings Limited has retained Arma Partners LLP to advise on strategic options in relation to its portfolio company, Zawya Limited in response to several unsolicited expressions of interest in Zawya that have recently been received. Founded in 2001 and based in Dubai, UAE, Saffar is a leading early-stage private equity investor in the financial services sector in the Middle East and North Africa (“MENA”).  Its focus is to nurture and grow financial services companies to serve the region. Saffar acquired a majority stake in Zawya in 2001 and has provided financial and management support with which the Company has