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Riverside Partners, a private equity firm focused on investing in middle market healthcare and technology companies, today announced the closing of Riverside Fund V with USD561 million of committed capital.
Riverside Fund V follows the firm’s USD406 million Riverside Fund IV, which was raised in 2009. Riverside Partners was able to secure very significant support from its existing investors. Fund V builds on the firm’s 23-year track record of partnering with founder- and management-owned healthcare and technology companies.
"We are very pleased to have completed our fundraising, achieving our hard cap in six months. We are particularly appreciative of the substantial support from our
HarbourVest Global Private Equity’s net asset value per share was USD11.43 as at the end of April 2012, a USD0.02 per share decrease from 31 March 2012 (USD11.45), following four consecutive monthly increases.
This modest adjustment reflects negative public markets during April, as well as nominal adjustments to the estimated valuations as 31 December 2011 valuations are received from the underlying investments.
At 30 April 2012, HVPE is valuing the Absolute portfolio at USD25.19 per share (including dividends received since closing), which is unchanged from 31 March and a 36% increase over the purchase price of USD18.50 per
EyeTrackShop, an online eye tracking technology developer, has closed its first institutional round of funding of USD3 million with Northzone as lead investor.
EyeTrackShop has rapidly established market presence in the US and Northern Europe as the leading digital platform for ad effectiveness, providing valuable insights into visual performance of advertising and websites. Its unique technology enables the capturing of eye movements from a regular webcam which allows market researchers to conduct online visual effectiveness tests in a fast and inexpensive manner. EyeTrackShop’s fast expanding client base already includes companies like Google, P&G, AOL, Microsoft and JCDeacaux.
As EyeTrackShop extends
Stratus Group’s portfolio company, Senior Solution, has become the first private equity-backed company to list on the BOVESPA MAIS segment – the AIM or NASDAQ equivalent – of the Brazil’s BOVESPA exchange.
Founded in 1996 by Bernardo Gomes and Luciano Camargo, Senior Solution – an IT company which specialises in software provision for financial institutions – received an influential minority investment from Stratus in 2005. The company has approximately 150 clients including the top 10 banks in Brazil. It also counts insurance companies, asset managers and brokerage houses among its clients.
Stratus and BNDES, the Brazilian Development Bank,
Private equity firm Superior Capital Partners has acquired the gourmet desserts division of Heinz North America.
The newly formed entity will be called Dianne’s Fine Desserts and will be led by Michael Knowles as CEO and Daniel Scales as President. This investment represents the twelfth acquisition and the fifth platform company from Superior’s 2008 inaugural fund.
Newly named, Dianne’s Fine Desserts is a leading provider of gourmet frozen thaw and serve desserts to the foodservice industry and in-store bakeries. The purchase includes the brands Dianne’s Fine Desserts and Alden Merrell Fine Desserts in addition to other brands including Black Tie and Skooopz. The
Proskauer has expanded its mergers and acquisitions capabilities with the addition of Lorenzo Borgogni as a partner in the firm’s Mergers & Acquisitions Group. Borgogni, who joins from Dewey & LeBoeuf, will be based in Proskauer’s New York office.
"Lorenzo has developed an extremely successful and diverse practice and will bring a wealth of legal and business experience to the firm," said Ronald R. Papa, co-Chair of Proskauer’s Corporate Department and co-head of its Mergers & Acquisitions Group. "He is a talented M&A lawyer and has been involved in a variety of complex, high-profile domestic and international transactions."
Borgogni represents
Pierfrancesco Carbone has joined the Duane Morris’s growing Corporate Practice Group as a partner. He will be based in London.
Carbone’s appointment marks the expansion of the firm’s Private Equity Group, already active in the US and in Asia, into Europe. Duane Morris is the first law firm to become Global Growth Partner of the Association for Corporate Growth (ACG) and is a founding champion of the Middle Market Private Capital Leadership Forum. Carbone joins Duane Morris from Kirkland & Ellis International LLP.
Carbone focuses his practice on cross-border corporate transactions, particularly in the area of private equity. He mainly
Platte River Ventures, a Denver-based private equity firm, has sold its portfolio company, PRV Aerospace, LLC (PRV Aerospace), to an affiliate of Court Square Capital Partners (Court Square), a private equity firm headquartered in New York, NY.
Headquartered in Everett, WA, PRV Aerospace is an aerospace and defence group that supplies components, subassemblies and assemblies to the world’s leading manufacturers of aircraft, aero-equipment and other defense platforms. Comprised of six operating facilities, PRV Aerospace performs complex machining of hard metals and aluminum, sheet metal fabrication, assembly and test, repair and overhaul, and lower tier supply chain management. Platte River
K+S Aktiengesellschaft has signed an agreement with EuroChem to sell K+S Nitrogen a supplier of nitrogenous fertilisers.
A team led by lead partners Dr Thomas Meyding and Dr Barbara Wössner advised K+S AG on all aspects of the transaction.
The EUR140 million euro transaction is currently awaiting approval from the EU competition authorities and is expected to be completed by the end of the second quarter of 2012.
Private equity found Triton Fund II has agreed to sell the technical installation and service solutions company Bravida AB (Bravida) to Bain Capital. The transaction value has not been disclosed.
Triton acquired Bravida in 2006. During its ownership and in partnership with management, Triton implemented a comprehensive program to turn around the company. This included improved project selection, increased focus on higher margin service and maintenance revenues, reorganisation of the branch network and restructuring the Norwegian business. As a result Bravida has successfully positioned itself as the market leader in Scandinavia.
Mats O Paulsson, president and CEO of Bravida,
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