Growth equity investor Summit Partners has invested USD100m in Avast Software, the developer of an antivirus programme, for a minority stake in the company. “Summit Partners’ investment is a vote of confidence in our disruptive ‘freemium’ business model, which combines a full-fledged free product with a premium one,” says Vince Steckler, chief executive of Avast Software. “This approach is already upsetting the traditional antivirus market. Instead of paying for advertising or installation on new computers, Avast continues to experience dramatic growth as fans of avast! recommend our products to their friends.”   avast! antivirus now protects one out of every

Finatem, a lower mid-market German private equity firm, has acquired Techno Physik Group from E.G.O. Blanc & Fischer Goup, a supplier of household appliances. This transaction is the first investment of Finatem III, Finatem’s latest fund.  With a turnover of EUR24m and about 100 employees in 2009, Techno-Physik-Group is a supplier of heat insulation and fire protection products. Its customers operate in a wide range of industries, such as furnace manufacturing, metal processing, industrial appliances and building sites. Eric Jungblut, partner at Finatem, says: “We are delighted to have completed this transaction in a market where very few German firms

Private equity firm Riverside has exited its investment in SunTek Holding dba Commonwealth Laminating & Coating. Commonwealth Laminating & Coating, based in Martinsville, Virginia, is a manufacturer of solar control window films designed to enhance privacy, aesthetics, safety and security in automotive, residential and commercial applications. Riverside purchased CLC in April 2006 and during its hold period supported management in a number of initiatives that drove organic growth.  Under Riverside’s stewardship, CLC made capital investments that boosted the company’s production capacity and invested in a new dyed film line that improved product quality and strengthened the company’s position. The company

Investment office Klesch has agreed to acquire the Heide refinery, associated chemicals, bitumen and distribution infrastructure as well as related marketing businesses from Shell for an undisclosed purchase price.   The deal, which is subject to regulatory approval, is expected to close before the end of the year. The Heide refinery employs some 570 staff. As a result of the sale, a limited number of new jobs will be created in the refinery. The sale is consistent with Shell’s strategy to concentrate investments into larger sites such as Rhineland Refinery and to reduce net refinery capacity by 15 per cent.

Tully & Holland has completed the sale of Independent Brewers United to North American Breweries.  Tully & Holland has completed the sale of Independent Brewers United to North American Breweries.  Tully & Holland acted as the exclusive investment banking adviser to the seller’s majority shareholder. The terms of the transaction were not disclosed. Independent Brewers United, one of the largest craft beer producers in the US, markets and sells Magic Hat, Pyramid, and MacTarnahan’s beers and ales.  Based in Vermont, the company’s beers are sold on both the east and west coasts operating out of three breweries and six retail

EQT Expansion Capital II has invested in Roeser Group, a German manufacturer-neutral distributor of medical supplies to hospitals. Roeser, with headquarters in Bochum, offers tailor-made distribution solutions, including consulting, logistics and procurement services through its two business divisions, Roeser Medical and Hospigate. Roeser has 300 employees and works with over 900 suppliers, providing more than 800,000 different articles to its customers. Joachim Mohme, shareholder and managing director of Roeser, says: “We are delighted to have EQT Expansion Capital on board. They will provide us with network and know how, as well as resources to further develop the company as the

Avista Capital Partners and Ontario Teachers’ Pension Plan, through its private investor department Teachers’ Private Capital, have signed an agreement to acquire INC Research from an investor group led by Crosspoint Venture Partners and Adams Street Partners. INC Research is a privately-held, therapeutically focused contract research organisation with expertise in managing late stage clinical development programmes. INC Research employs 2,000 people in 40 countries worldwide. David Burgstahler, partner and president of private equity firm Avista Capital Partners, says: “Avista and our partners at Teachers’ Private Capital are delighted to add INC Research to our respective healthcare portfolios. INC Research has