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Private equity firm Francisco Partners (FP) has announced the final closing of Francisco Partners III, LP (FP III) with USD2bn of capital commitments. FP III closed at the target and hard cap of the fund.
FP provides transformational capital to middle market information technology companies. Transaction structures include buyouts, divisional divestitures, recapitalisations, restructurings and growth equity financings. FP works with management teams to reposition and strengthen technology companies facing operational challenges and strategic inflection points. The group pursues opportunities globally, both as stand-alone investments and as add-on acquisitions for portfolio companies.
Dipanjan Deb (pictured), co-founder and managing partner says: “We
The Riverside Company sold Sentinel Performance Solutions Limited (Sentinel), a leading European supplier of residential heating and hot water system treatment products, to Electra Partners. The exit for a sale price of GBP43 million generated a combined 3x gross cash-on-cash return and a 22% gross IRR to Riverside and its investors.
Sentinel, based in Runcorn, England, has market-leading positions in the UK, France, Italy and Germany. Sentinel’s biodegradable and OEM-recommended products clean and prevent corrosion in heating systems, improving energy efficiency and increasing system lifespan.
Riverside invested in Sentinel in August 2005, as a corporate carve-out from General
Hercules Technology Growth Capital, Inc (NASDAQ:HTGC), has appointed Glen Howard, Andy Laszlo, Jim Higgins, and Patrick White as managing directors to its Early Stage and Lower Middle Market groups in Palo Alto, CA.
“As part of our planned growth strategy to accelerate new originations, we are pleased to add to our team of experienced investment professionals,” says Manuel A Henriquez, co-founder, chairman and chief executive officer of Hercules. “These four new managing directors bring years of valuable financial experience in identifying the most promising early stage and lower-middle market companies in the technology, clean technology, and life science verticals. We
DynamicOps, a provider of private cloud automation software, has closed USD11 million in venture funding. The Series B round was led by Sierra Ventures, while Next World Capital participated, joining Credit Suisse’s Next II venture group in ownership.
The company also added industry veterans Les Yetton and Paul Silver to its executive team, and Mark Fernandes to its board of directors.
These announcements follow on the heels of a record 2010, in which DynamicOps reported 200% year-over-year revenue growth and a 115% increase in new customers, while 75% of its existing customers expanded their implementations. The company attributes this growth to
Mourant Ozannes partner Peter Hayden (pictured) and associate Tim Richards say that divergent court decisions in the Cayman Islands and British Virgin Islands on whether and under what circumstances liquidators should be appointed to funds that are in the process of being wound up by their managers highlight the need for express provisions on liquidation to be included in their constitutional documents, if necessary through amendment of existing provisions.
Most hedge funds do not give active consideration as to how they are to be liquidated in their constitutional documentation. Unfortunately this can have serious consequences for the
Siemens AG’s Osram unit is acquiring Siteco Lighting GmbH from Barclays Private Equity for a low three-digit million euro amount.
Siteco is a leading European lighting company with a worldwide workforce of 1250 and 2010 revenue of around EUR220 million. It supplies luminaires and lighting systems for urban infrastructures such as public and commercial buildings, streets, tunnels, airports and sports stadiums.
More than two thirds of the global lighting market is covered by luminaires and lighting systems. "With this acquisition, Osram is addressing this key market. As a leading manufacturer of lighting components, we are now also further expanding our
BlackRock, Inc and NTR plc have formed a strategic relationship agreement to launch a new renewable power investment group. This comprises a number of key renewable power principals from NTR joining the BlackRock Alternative Investors (BAI) investment platform, which currently manages over USD110 billion of assets across a range of alternative investment strategies.
The new renewable power investment team will combine the international track-record of NTR in renewable power infrastructure development with the global fund management and distribution capabilities of BlackRock. As part of the strategic relationship between the two companies, NTR will provide market perspective and insights to the
AXA Private Equity has signed an irrevocable agreement to acquire a strategic 10% equity stake in the CLH Group (Compañía Logística de Hidrocarburos) from DISA (DISA Financiacion SAU and Disa Peninsula SLU), the fifth largest service-station operator in Spain. With this acquisition, AXA Private Equity will become one of the largest investors in CLH.
The transaction values the company at c. EUR3.6bn on an Enterprise Value basis.
This transaction represents a further significant infrastructure investment in Spain by AXA Private Equity, following on from the recent acquisition of a strategic stake in Autopista Trados 45. The shareholding in CLH
SnapRetail, a Pittsburgh-based software company that helps independent retailers and their vendor partners leverage social media and electronic marketing to connect with consumers and increase sales, has closed USD6 million in Series A venture capital funding.
Adams Capital Management led the round with USD2.25 million in funding in a deal that includes investments by the firm’s entire senior management team.
“We are thrilled with the infusion of capital being announced today and the opportunities it presents for growth,” says Ted Teele, CEO of SnapRetail. “SnapRetail offers tools that enable independent retailers and their vendor partners to more effectively ‘sell
Osage University Partners has announced the final closing of Osage University Partners I, achieving its target fund size of USD100 million. The novel venture capital fund has affiliated with leading universities to make direct investments in their most promising startup companies.
Osage University Partners has created a unique model through which it manages the coinvestment rights held by its affiliated universities. These coinvestment rights provide Osage with contractual access to invest in the future financings of some of the most promising startup companies that have licensed technology from these universities. Affiliate universities then share in Osage’s profit and can use
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