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IS Pharma, a pharmaceutical company, has raised GBP3.6m through the issue of 4,613,160 new ordinary shares at 77 pence per placing share with Abingworth.
Following this placing, Abingworth will be IS Pharma’s largest shareholder with 13 per cent of the shares in issue.
The placing price at 77 pence represents a nine per cent premium to the closing price of 70.5 pence per ordinary share on 5 October 2010.
Tim Wright, chief executive of IS Pharma, says: “Abingworth has an excellent reputation as a strategic healthcare investor and we are delighted with their enthusiasm for investing in IS Pharma, as
Kana Software, a provider of software solutions for service experience management backed by Accel-KKR, has entered into a definite agreement to acquire Lagan Technologies, a provider of government to citizen technology.
Lagan is being sold by DFJ Esprit, which was the largest shareholder in the company.
The transaction will complement Kana’s capabilities in the communications, financial services, healthcare, retail and technology sectors.
The terms of the transaction were not disclosed.
Lagan software powers 200 government agencies worldwide at the national, regional and city level, serving 60 million citizens a year.
The combined entities will deliver rapid response to billions of
General Atlantic, a growth equity firm, has made a series of promotions to managing director and principal level.
The following have been promoted to managing director: Alexander A. Chulack, Cory A. Eaves and Brett B. Rochkind, all based in New York; Patricia L. Hedley, based in Greenwich, Connecticut; and Gabriel C. Caillaux, based in London.
The following individuals have been promoted to principal: Abhishek Agrawal and Robbert Vorhoff, both based in New York; and Nishant Sharma, based in Mumbai, India.
“These appointments reflect GA’s strong commitment to attracting, developing and promoting talented professionals globally,” says William E. Ford, chief executive
Third Rock Ventures, a venture capital firm focused on launching life sciences companies, has appointed Steven M. Paul as venture partner.
Paul is the former president of the Lilly Research Laboratories of Eli Lilly and now leads the Helen & Robert Appel Institute for Alzheimer’s Research at Weill Cornell Medical College.
As a venture partner, Paul will serve as a senior adviser to the firm and participate in the ideation and development of potential new companies.
"Steve brings invaluable experience to our team as we expand our company building efforts into new therapeutic areas, and we are delighted to welcome
Conyers Dill & Pearman has hired attorneys in London and Hong Kong and has strengthened its Cayman Islands and Bermuda practices.
Veronica Strande joins Conyers’ London office where she specialises in capital markets, Islamic finance, restructuring and corporate matters.
In Hong Kong, Conyers has appointed Japanese-speaking investment funds and corporate associate Junko Shiokawa (pictured). Conyers celebrates its 25th anniversary in Hong Kong this year and continues to act on the vast majority of offshore listings on Asian stock exchanges.
Gene DaCosta has relocated back to the firm’s Cayman office from Hong Kong, where he was seconded to provide Cayman Islands
Pfingsten Partners, a Chicago-based private equity firm, has bought FKI Security Group, a manufacturer or fire security products based in Indiana, through its USD525m Fund IV.
Founded in 1951, Fire King operates three distinct business segments serving a variety of end markets: Fire King International, Fire King Security Products, and Image Vault.
Van Carlisle, current president and chief executive, will remain as an investor and board adviser and transition the role of president and chief executive to Philip Bradney.
Bradney currently serves as executive vice president and chief operating officer for Fire King and has been instrumental to the business
StepStone Group has acquired SilverBrook Private Equity.
As part of the acquisition, Thomas Bradley, Mark Maruszewski, and Michael McCabe, the SilverBrook partners, will join StepStone as managing directors to be based in its New York City office.
The addition of Bradley, Maruszewski and McCabe will grow StepStone’s leadership team, expand its East Coast US presence, and enhance the firm’s investment and transaction sourcing capabilities.
Bradley, Maruszewski, and McCabe had recently formed SilverBrook Private Equity, a secondary fund investment and private equity advisory platform.
“We were in the process of building a very similar platform to that of StepStone,” says Maruszewski.
SunEdison, a solar energy services provider and a subsidiary of MEMC Electronic Materials, has sold a 70 megawatt photovoltaic power plant located in Northeast Italy, near the town of Rovigo.
When completed in the fourth quarter of 2010, the Rovigo plant is expected to be the largest operating solar power plant in Europe.
SunEdison and Banco Santander jointly developed and co-owned the Rovigo plant prior to this sale.
The Rovigo plant was acquired by First Reserve through the previously announced joint venture established between First Reserve Energy and SunEdison. SunEdison is a minority investor in the joint venture. Investment
Red Fort Capital has received GIREM’s 2010 Investor of the Year Leadership Award in recognition of its achievements in India’s private equity real estate sector.
GIREM – Global Initiative for Restructuring Environment & Management – is an independent industry association focused on urban planning and real estate in India.
Parry Singh, managing director of Red Fort, says: "GIREM’s leadership awards are recognised within India’s real estate industry as a testament to strong performance, and the Red Fort Capital team is therefore pleased to receive GIREM’s 2010 Investor of the Year Award."
Shyam Sundar S. Pani, executive director of GIREM, says:
Data from Experian shows the number of mergers and acquisitions and equity capital market deals fell during Q3 2010 for the UK and Europe, compared to Q3 2009.
The total number of UK M&A and ECM transactions during Q3 2010 fell by 22.7 per cent compared to the same period last year – from 1,110 deals in Q3 2009 to 859 deals in Q3 2010.
However, the total value of Q3 2010 deals increased by 45.3 per cent on Q3 2009 – from GBP41.07bn to GBP59.67bn.
Compared to the previous quarter, the UK saw a 23 per cent decrease in
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