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Private Equity firm NewWorld Capital Group has acquired Cleaire Advanced Emission Controls, LLC, a leading developer and manufacturer of particulate matter and nitrogen oxides abatement products for on-road and off-road heavy-duty diesel-powered vehicles. Joining New World in this investment are Ingleside Investors, North Sky Capital, and Spring Mountain Capital.
Cleaire’s products reduce particulate matter emissions from diesel engines by greater than 85% while meeting strict limits on exhaust nitrogen dioxide (NO2) levels. The Company’s products are verified by the California Air Resources Board (CARB) at Level 3, a Best Available Control Technology abatement standard.
Headquartered in San Leandro,
Morgan Stanley Private Equity Asia (MSPEA) has agreed to make a USD100 million equity investment for a significant minority ownership stake in China XD Plastics Company Limited, one of China’s leading players engaged in the development, manufacture, and sales of modified plastics primarily for automotive applications, subject to certain customary closing conditions. The investment by MSPEA will help China XD Plastics to expand and further upgrade its production capabilities.
Under the terms of the transaction, MSPEA will purchase redeemable convertible preferred shares of the Company at an aggregate purchase price of USD100 million. The redeemable convertible preferred shares are convertible
Graphite Capital, the UK mid-market private equity specialist, has provided equity funding to enable Teaching Personnel to acquire Protocol Education, creating a leading provider of supply teachers and support staff to schools in England and Wales.
Both businesses provide short and long term temporary teachers, teaching assistants and nursery staff, primarily to English and Welsh primary and secondary schools, as well as to academies and other specialist schools, including those serving special educational needs.
Graphite backed the GBP45 million management buy-out (MBO) of Teaching Personnel in July 2010. The acquisition of Protocol Education is consistent with Graphite’s strategy to
Gert Tiivas (pictured), CEO of East Capital Explorer since its launch in 2007, is to leave his current position to take up a new role within the East Capital Group. In his new position Tiivas will be responsible for developing East Capital’s Private Equity investment business in the Baltic countries.
Tiivas says: "I would like to thank the Board, and the shareholders, for the opportunity to work at East Capital Explorer during these exciting years. The Baltic States are now firmly back on a recovery path, with many interesting companies seeking capital for the new growth cycle, and I am
Asian private equity firm SAIF Partners, IDG China Media, a China-focused investment arm of Boston-headquartered International Data Group (IDG), and Relativity Media have formed a partnership to develop, produce, distribute and acquire Chinese material that also possesses worldwide appeal.
Relativity will distribute all of its future films in China, including Immortals, Haywire, Act of Valor, Relativity’s Untitled Snow White Project, and The Raven, through SkyLand. SkyLand is a fully-funded, vertically-integrated film and multimedia production, distribution and financing company, which was jointly owned and controlled by SAIF Partners and IDG China Media, and now is also owned by Relativity. SkyLand is
Berkshire Partners has enlisted the help of Dimension Data as the private equity firm makes the move into new offices. Dimension has optimised the technology capabilities of Berkshire Partners’ new offices and accelerated the company’s communications systems, by implementing multiple network and communications solutions and integrating the company’s Microsoft Office Communications Server (OCS) with a Cisco IP-Telephony network.
Dimension Data implemented a Cisco local area network (LAN) with 10-Gigabit Ethernet, a secure Cisco Wireless LAN and Cisco ASA firewalls. Additionally, Dimension Data deployed the Cisco Unified Communications Manager, Cisco Unity Unified Messaging and Cisco Unified Presence Server integrated with Microsoft
Apollo Investment Corporation has adopted a plan for the purpose of repurchasing up to USD200 million of its common stock in accordance with the guidelines specified in Rule 10b-18 and Rule 10b5-1 of the Securities Exchange Act of 1934.
The Company’s plan is designed to allow it to repurchase its shares both during its open window periods and at times when it otherwise might be prevented from doing so under insider trading laws or because of self-imposed trading blackout periods. A broker selected by the Company will have the authority under the terms and limitations specified in the plan to
Morgan Stanley Private Equity (MSPE) and Denver-based Sterling Energy Company have formed a strategic partnership whereby MSPE has made a majority equity investment in a newly formed company called Sterling Investment Holdings, LLC (Sterling Energy) to support the growth of Sterling Energy’s midstream business in Colorado and North Dakota. Terms of the transaction have not been disclosed.
Sterling Energy provides natural gas gathering and processing infrastructure and related services for oil and gas production companies through its two gathering systems — the Yenter System, serving Denver-Julesburg (DJ) and Niobrara production in northeast Colorado, and the Ambrose System, serving Williston and
Venture capital (VC) funding in the Life Sciences sector, which includes the Biotechnology and Medical Device industries, leapt 37 per cent during the second quarter of 2011, according to a new PwC US report, "High-dollar deals."
The report includes data from the PricewaterhouseCoopers LLP/National Venture Capital Association MoneyTree Report, based on data from Thomson Reuters.
Venture capitalists invested USD 2.1 billion in 206 Life Sciences deals, delivering the seventh best quarter since the MoneyTree Report began collecting data in 1995. Despite the quarter’s strong performance, dollars invested in Life Sciences declined 3 per cent when compared with the same
High Street Partners (HSP) has closed a USD6.3m Series C round of financing led by institutional venture capital investor Baird Venture Partners. The funding round also included existing investor Sigma Partners and Gold Hill Capital.
HSP will use the proceeds to build-out its Shared Service Centers and accelerate the delivery of several key features of its software-as-a-service offering, HSP OverseasConnect.
Benedict Rocchio (pictured), partner at Baird Venture Partners, has been elected to the HSP board of directors. He will join existing board members Paul Flanagan, managing director of Sigma Partners, Gerard Phelan, vice president at RR Donnelly, and Larry
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