Mid Europa Partners has completed its tender offer to purchase any and all of the outstanding ordinary shares of Invitel Holdings, par value EUR0.01 per share, and any and all of the American depositary shares, each representing one Invitel share. The offer and withdrawal rights expired at 12:00 midnight, New York City time, on 22 January 2010. According to the report of the settlement agent for the offer, a total of 2,900,489 Invitel shares and Invitel ADSs have been tendered and not withdrawn, including Invitel ADSs subject to guaranteed delivery. As a result of the offer, Mid Europa will own

BaltCap, a private equity and venture capital investor in the Baltic States, has acquired 100 per cent of Air Maintenance Estonia, an aircraft maintenance, repair and overhaul company, from Scandinavian Airlines. Air Maintenance Estonia started its operations in 1995, providing maintenance services to Estonian Air aircrafts. Since 2002 the company is operating independently.   The clients of Air Maintenance Estonia are different European aviation companies, including Estonia’s national carrier Estonian Air. In 2009, the company’s turnover was EEK196m.   “BaltCap is excited to acquire a knowledge-based, export-oriented industrial company in Estonia with great outlook. AME has highly skilled and creative

An overall bad year for the US venture capital industry ended on a high note as deal activity increased in the fourth quarter of 2009. Venture investors put USD6.3bn to work in 743 deals in the most recent quarter, up slightly from the USD6.1bn invested in 619 deals during the same period in 2008, according to statistics released by Dow Jones VentureSource. In total, 2009 saw 2,489 deals completed and USD21.4bn in venture capital invested in US companies, a 31 per cent drop from 2008 when USD31bn was invested in 2,817 deals. “Venture capitalists are still treading lightly when making

Sofinnova Partners, a European venture capital firm, has invested EUR2.2m in Celsius X VI II, a French-Swiss firm developing mobile phones based on complex mechanics. Sofinnova’s investment is joined by AGF Private Equity’s EUR500,000 and a further EUR600,000 from business angels bringing the total funding to EUR3.3m. Jean Schmitt, managing partner at Sofinnova Partners, will join the Celsius X VI II management board. “We are thrilled to have the support and experience of Sofinnova Partners as we follow our vision to build the fundamental communications device. Each of our creations will be a significant step towards the dream of a

SSL International, the Manchester-based healthcare business, has agreed a GBP410m financing package backed by Yorkshire Bank. The new finance package will replace SSL’s existing facility and provide funds to allow it to pursue further acquisitions. Yorkshire Bank is joint arranger with Abbey National, Barclays Capital, HSBC, Lloyds TSB and The Royal Bank of Scotland. Other investors are Handelsbanken, Citibank, KBC and Bank of Ireland.   SSL, a FTSE 350 company, owns the global brands Durex and Scholl as well as a portfolio of locally owned brands, such as Meltus, Medised and Syndol in the UK and Sauber and Mister Baby

BaltCap, a private equity and venture capital firm focused on the Baltic States, has signed an agreement with European Investment Fund for the establishment of a EUR30m venture capital fund. BaltCap Latvia is the first venture capital fund manager to successfully complete private fundraising under EIF managed Jeremie initiatives in Europe, and the first structured venture capital fund to be raised in the Baltics since the economic crisis hit the region. Aggregate available financing to Latvian micro, small and medium enterprises will be up to EUR30m. The fund will provide start-up and expansion financing to companies with established operations and

Carlyle Group was among the top private equity groups last year, according to a study by PitchBook, a Seattle-based research firm that focuses on the private equity industry. The Washington DC-based firm’s USD13.7bn Carlyle Partners Fund was ranked the second biggest, behind the USD14.7bn Apollo Investment Fund VII. Carlyle, with New York-based Riverstone Holdings as a partner, had another fund that ranked fifth: the USD6bn Riverstone/Carlyle Global Energy and Power Fund IV. Carlyle, which last year closed ten deals, was third in a ranking by number of investments. Sun Capital Partners, of Boca Raton, Florida, was seventh in a ranking