Axa Private Equity has entered into an agreement granting exclusivity with Omnova Solutions with a view to selling, before 31 December 2010, its majority shareholding in Eliokem, a chemical company, for a total valuation of EUR227.5m. The proposed transaction remains subject to execution of a definitive agreement, customary anti-trust approvals and financing conditions. Eliokem’s central works council is currently being informed and consulted in order to deliver a final opinion on the proposed transaction. Axa Private Equity acquired its majority stake in Eliokem in October 2006.   Eliokem supplies its products to a range of end markets and applications, such

CapMan has established its fifth mezzanine fund, CapMan Mezzanine V.   The fund has held its first closing at EUR60m and will invest in mid market companies in the Nordic region. "The first closing means that we are now able to start the fund’s investment operations and to take full advantage of the strong deal flow that we are currently seeing as a result of CapMan Buyout’s extensive coverage of the Nordic market. We look forward to continuing our mezzanine investment strategy of supporting Nordic mid market companies," says CapMan Buyout’s mezzanine director Niklas Östborn. Since the foundation of its

Despite the difficult conditions of the last 18 months, renewable energy dealmaking has remained remarkably robust, according to a survey commissioned by professional services firm Rödl & Partner and carried out by mergermarket. The overview of the global renewable energy M&A market found that in 2009 there were 228 deals announced worth a collective EUR49.7bn – a deal volume mirroring the level of activity witnessed at the height of the M&A boom in 2007 – and that the first two quarters of 2010 have also seen brisk deal flow. The survey, which was conducted in May 2010, garnered the opinions

Lyceum Capital has supported portfolio firm Carewatch’s acquisition of New Directions Care and Support. The deal is the 13th add-on acquisition made by Carewatch since Lyceum Capital backed the company in October 2008.   Based in Enfield, New Directions Care and Support works with a number of London boroughs to help individuals maximise their level of independence.   The company has been awarded the Care Quality Commission’s highest standard for service of three star excellence and has over 20 years of experience in offering support for those with learning disabilities, mental health issues, acquired brain injuries and sensory impairment.  

MedExpress Urgent Care, a provider of care to people seeking non-emergency medical treatment, has received an investment from growth equity firms General Atlantic and Sequoia Capital. Financial details of the transaction are not being disclosed.   "This partnership with General Atlantic and Sequoia comes at a very important time for our company," says Frank Alderman, co-founder and chief executive of MedExpress. “Both firms bring a deep knowledge and understanding of the healthcare industry and offer unrivaled global resources and capabilities that will prove invaluable as we expand our national footprint, scale our operations, and continue to provide the highest quality

Geneva Glen Capital, a private equity firm headquartered in Chicago, is launching a fund in partnership with Wanxiang America. Adam Schecter has joined Jeff Gonyo to co-lead the fund. GGC will invest in lower middle-market companies (generally under USD100m enterprise value) in the US and Canada, partnering with successful management teams to acquire proven private companies with leading market positions, significant growth potential and stable cash flows. Wanxiang America has provided the committed capital for GGC to target companies with Ebitda between USD3m and USD20m. GGC invests up to USD40m of equity per company in order to acquire businesses, provide

Private equity firm Avista Capital Partners has signed a definitive agreement to acquire the Global Auto Care Business from The Clorox Company.  The Global Auto Care Business consists primarily of Armor All and STP, two brands in the aftermarket appearance and performance auto-care segments.  Upon closing of the transaction, veteran automotive aftermarket industry executive David Lundstedt will join Global Auto Care’s board of directors as executive chairman. Lundstedt has had a 31-year career in the automotive aftermarket, including serving as president of the consumer products division of Honeywell International and as president and chief executive of Prestone Products.  Global Auto

Boston Heart Lab, a provider of diagnostics for patients with heart disease, has closed on a USD10m series C round of financing led by Bain Capital Ventures. The company has also named Susan Hertzberg chief executive officer. Hertzberg is the former president and chief executive of Ipsogen, the North American division of French cancer and molecular-diagnostics company, Ipsogen SA. Alice Limkakeng and Jeff Crisan from Bain Capital Ventures will be joining Boston Heart Lab’s board of directors. Limkakeng says: "Boston Heart Lab’s services fall within the sweet spot of the changing healthcare paradigm known as personalised medicine, using outcomes-based medicine