American HomePatient has completed a public-to-private transaction and filed documents with the SEC to deregister its common stock, resulting in the company becoming 100 per cent owned by a fund managed by Highland Capital Management.  This transaction is the culmination of a series of transactions, including (i) a self-tender of common shares by the company and (ii) a restructuring of the company’s senior debt of USD216m led by Highland and completed on 2 September 2010. Headquartered in Tennessee, American HomePatient is one of the nation’s largest respiratory and service providers to Medicare and Managed Care patients in 33 states.   Joseph

Standard Life Investments believes that the corporate sector will remain the strongest part of the world economy in the years ahead. Company managers in an effort to maintain this strength will alter their behaviour by deploying more of their accrued cash towards growth rather than dividend distribution policies.     In the latest edition of Global Outlook, Richard Batty, global investment strategist at Standard Life Investments, says: “Our analysis shows that investor behaviour is already altering, and the corporate sector may be in the process of changing the way it views dividends. In recent years, managers were keen to show their

LGV Capital has completed the secondary management buy-out of Amber Taverns. Amber Taverns is a community based pub company based in Preston, Lancashire.  It owns and operates 56 pubs, predominantly in the North West and North East under its operator agreements, which incentivise its pub operators by offering them a share of the pub’s takings. LGV has backed the existing management team of Clive Preston (chairman), James Baer (joint managing director), Bryan Wardman (joint managing director), Michael Norris (finance director) and Gary Roberts (operations director). LGV is a provider of private equity in the UK market and part of the

Octopus Investments has made an investment of GBP1.7m into Michelson Diagnostics, a medical equipment and scanner specialist. The investment in Michelson represents the 21st deal concluded by Octopus this year.   Chief executive Jon Holmes founded Michelson with four colleagues in 2006. The company’s first product based on its patented technology, the VivoSight scanner, targets the non-invasive diagnosis and treatment of non-melanoma skin cancer. The scanner enables clinicians to see under the skin surface in real time, to help them decide whether to treat a lesion, what treatment to use, and to show them how far a tumour has spread.

Drillsearch Energy, an Australian Stock Exchange listed mid-tier oil and gas exploration and production company, has entered into a AUD15m equity line of credit agreement with YA Global Master SPV, a fund managed by Yorkville Advisors.  The transaction represents the third equity line of credit facility provided by YA Global to ASX listed oil and gas companies in the last six months.   Drillsearch plans to use the facility to supplement its other capital raising endeavours for exploration, development and working capital purposes.   Brad Lingo, chief executive officer of Drillsearch Energy, says: “Drillsearch is extremely pleased to have worked

Dunedin, a UK mid-market buyout house, has expanded its London and Edinburgh offices.  Dunedin’s London office is moving to larger premises in St James’s and a number of staff promotions have been made.  Dunedin’s Edinburgh office is expanding with the recruitment of a new member to the investment team. Ross Marshall, chief executive of Dunedin, says: “Having recently completed the all equity buy-out of Weldex in only three weeks, we believe that there will be good deals to be done by private equity houses which can move fast. Consequently, we are strengthening our team to ensure that we can move

Piper Jaffray will transition its private capital business to become an independent firm. The transition is expected to be effective on 1 December 2010. The fund of funds business will transition to the key principals of the private capital subsidiary, who will rename the independent company North Sky Capital. The entity will be led by Scott Barrington, an 11-year veteran of the private equity business and a Piper Jaffray managing director. North Sky Capital will manage each of the funds raised by Piper Jaffray Private Capital, comprising approximately USD700m of committed capital. In connection with the transition, the existing funds

Redx Pharma, a UK based bioscience company, has been launched with a GBP1.9m investment package from the public and private sector.  Support has been provided by the NWDA’s Northwest Interim Venture Capital Fund, which is managed by YFM Private Equity, and includes backing from the European Regional Development Fund. A number of private investors have also taken a stake, including the venture capitalist Jon Moulton and several investors from the North West, Yorkshire and London. Redx Pharma will develop therapeutic remedies based on existing classes of drugs, structurally modifying them to create new proprietary medicines. Benefits for patients will include