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European venture-backed companies raised EUR2.2 billion through 447 deals in the first half of 2011; a 28% decline in deal activity from a year earlier, according to Dow Jones VentureSource. Capital invested remained flat.
Capital raised and the number of European venture-backed initial public offerings (IPOs) were up slightly on last year, reaching their highest six-month level since the first half of 2007. However, the nine flotations which raised a total of euro 611 million in the first six months of this year were still some way off the 27 IPOs that raised euro 723 million in the first six
Dental Technology, Inc, (d/b/a SmileCare), a portfolio company of Liberty Partners (Liberty), has been sold to strategic buyer Coast Dental Services, Inc (Coast Dental). Harris Williams & Co acted as the exclusive advisor to SmileCare.
The transaction was led by Todd Morris and Andy Dixon from the firm’s Healthcare & Life Sciences (HCLS) Group in San Francisco along with John Klim from the firm’s Richmond office.
“We continue to see strong M&A deal flow in the dental practice management market, with both strategic and financial buyers attracted to the industry’s solid fundamentals and long-term growth dynamics," says Todd
Advertising technology innovator EDO Interactive (EDO) has secured a Series B financing to fuel the growth of Prewards, EDO’s flagship digital deals and incentives platform. The financing was co-led by Baird Venture Partners and VantagePoint Capital Partners and included participation from EDO’s existing investors. The company will use the proceeds to accelerate the deployment of digital incentives to a large and growing base of consumers.
Prewards enables advertisers to offer digital deals and incentives that consumers can redeem by using their existing credit, debit or prepaid cards from participating financial institutions. To date, EDO has signed contractual arrangements with financial
FirstPEX, Europe’s first, interactive auction platform to trade privately-owned shares and investments is being launched in the UK by Swiss-based technology firm LPO Ventures
LPO Ventures expects trading volume to quickly increase from around EUR1-2 billion over the next 12 months or so to around EUR10 billion in 2015, based on analysis of the growth of similar markets in the US.
UK SMEs, family businesses and entrepreneurs can place their companies on the site, offer holdings in their firms to investors registered on the platform who can then trade these stakes online.
Private firms in other EU countries as well
In the first half of 2011, China-based companies with venture backing raised USD3.2 billion through 145 deals, a 1% decline in deal activity and 2% decline in capital invested over the same period in 2010, according to venture capital industry tracker Dow Jones VentureSource.
Initial public offerings (IPOs) of venture-backed companies were similarly in line with the previous year, as 54 IPOs raised USD9.2 billion in the first half of 2011 compared with 57 IPOs at USD10.1 billion in the same period in 2010.
"Through a continued focus on late stage deals, venture capitalists are able to bring their
Baring Asset Management (Barings), the international asset management firm, believes that even as the headlines focus on debt negotiations in Europe and the US, the underlying economic trends are deteriorating. Percival Stanion, Head of Asset Allocation at Barings, explains…
Global economic data continues to be both broadly weak and disappointing. The manufacturing strength that had powered the global economy out of recession appears to be petering out across north America, Europe and, most worryingly, Asia.
Barings believes the global weakness will continue for several months due to rising inventory levels, the continued fiscal retrenchment of governments, and anaemic job
Collas Crill has opened the doors to its new Singapore office – making it the first Channel Islands-based law firm to do so.
Sean Cheong, formerly a partner in Collas Crill’s Guernsey office, has relocated to Singapore to head up the new office. She has been joined by office manager Rachel Leong.
Cheong says: "We are delighted to have opened our doors in Singapore, Collas Crill’s first new office outside the Channel Islands. The opening is a clear indication of our ability to respond to the demand from institutional and private clients in Asia for Channel Islands legal services, particularly
CME Group and the Mexican Derivatives Exchange (MexDer) have launched a north-to-south order routing agreement, giving customers in the US access to MexDer’s benchmark derivatives contracts, including Mexican Stock Exchange Index Futures, Bond Futures and MXN Peso/US Dollar Futures Contracts.
The first phase of the project, CME Group strategic partnership with MexDer went live April 4, 2011 and gave Mexican investors access to CME Group’s benchmark derivatives contracts including interest rates, foreign currencies, equity indexes, energy, metals and agricultural commodities.
“Mexico is the 13th largest economy in the world and we continue to look for opportunities to provide our customers
HNA Group Company Limited (HNA) of China, a leading diversified services and integrated operations company, and Bravia Capital (Bravia) of Hong Kong, have agreed to acquire GE SeaCo, subject to customary regulatory and shareholder approvals. GE SeaCo is the fifth largest player in the global marine container leasing industry owning and managing over 870,000 20-foot equivalent units, the industry’s standard measure.
The transaction contemplates the acquisition by HNA of the 50/50 joint venture between GE Capital and SeaCo Ltd. as well as certain owned container assets of SeaCo Ltd. and GE (Genstar), currently managed by GE SeaCo. Of the USD1,048MM
NBGI Private Equity and Ethemba Capital (the consortium), have acquired a significant controlling stake in Turkish pharmaceuticals contract manufacturer and services provider the Birgi Mefar Group for an undisclosed sum.
Founded in 1963 by Adnan Birgi and based in Istanbul, the Birgi Mefar Group is one of the leading pharmaceuticals contract manufacturers in Turkey, servicing many of the major domestic and international pharmaceutical companies. The Group’s primary focus is on the injectable products segment, where it is the number one player in the Turkish market.
The Consortium has acquired its stake from Dr Ing. Mustafa Sevket Birgi, Mustafa Mehmet
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