Author: Angela Sormani

Fitch Ratings has upgraded the credit ratings of DDR Corp. The rating outlook has been revised to stable from positive. The upgrade of the IDR to ‘BBB-’ reflects that pro forma for the $1.46 billion acquisition of a portfolio of power centers from DDR’s joint venture with Blackstone Real Estate Partners VII, recurring cash flow will remain in excess of fixed-charges at a level consistent with an investment-grade rating.

PRESS RELEASE

Fitch Ratings has upgraded the credit ratings of DDR Corp. (NYSE: DDR) as follows: –Issuer Default Rating (IDR) to ‘BBB-’ from ‘BB+’; –$815 million unsecured revolving credit facilities to ‘BBB-’ from ‘BB+’; –$350 million unsecured term loans to ‘BBB-’ from ‘BB+’; –$2.1 billion senior unsecured notes to ‘BBB-’ from ‘BB+’; –$320.5 million senior unsecured convertible notes to ‘BBB-’ from ‘BB+’; –$405 million preferred stock to ‘BB’ from ‘BB-’. The Rating Outlook has been revised to Stable from Positive. KEY RATING DRIVERS The upgrade of the IDR to ‘BBB-’ reflects that pro forma for the $1.46 billion acquisition of a portfolio of power centers from DDR’s joint venture (JV) with Blackstone Real Estate Partners VII, DDR’s recurring cash flow will remain in excess of fixed-charges at a level consistent with an investment-grade rating. The upgrade also takes into account a management team continually focused on improving credit metrics, as well as good liquidity and strong access to capital. Pro forma leverage is high relative to the REIT universe, though expected to be within a range reflective of a ‘BBB-’ rating given DDR’s good portfolio quality. Further, the company continues to grow the unencumbered pool and improve financial flexibility. Blackstone JV Portfolio Purchase a Credit Positive Properties within the Blackstone JV portfolio are located in markets with stronger demographics such as higher household income and greater population density than properties within the existing DDR portfolio. The Blackstone JV portfolio has a larger big-box component than the existing DDR portfolio, as shown by annualized base rents of $13.81 per square foot, which is 5% below the DDR-defined prime portfolio. Notably, DDR has been leasing and managing the portfolio under various ownership structures (i.e., EDT Retail Trust, EPN Group, the Blackstone JV) for more than 10 years, lessening underwriting and operational risk. Improving Fixed-Charge Coverage First quarter 2013 (1Q’13 pro forma fixed-charge coverage is 2.3x compared with 2.0x in 2012 and 1.7x in 2011. Same-store net operating income (NOI) growth (derived from rising occupancy as well as positive lease rollover) along with incremental cash flow from redevelopment activity and joint ventures, and lower fixed charges, drove the increase. Fitch defines fixed-charge coverage as recurring operating EBITDA including Fitch’s estimate of recurring cash distributions from unconsolidated entities less recurring capital expenditures less straight-line rent adjustments, divided by total interest incurred and preferred dividends. Property-level fundamentals are favorable as evidenced by leasing activity on vacant space as well as positive rent rollover. Since reaching a cyclical trough of 90.7% in 1Q’09, the leased percentage stood at 94.4% in 1Q’13. Leasing spreads including new and renewal leases grew by 7.6% in 1Q’13 compared with 6.7% in 2012 and 6.1% in 2011, and rental rate growth should be the primary driver of same-store NOI growth going forward. Same-store NOI increased by 3.3% in 1Q’13, following increases of 4.0% in 2012 and 3.5% in 2011, and Fitch projects 2%-3% same-store growth in 2013 due to a supply-demand dynamic in DDR’s favor. Fitch anticipates that coverage will approach 2.5x in 2014-2015 due to same-store growth along with the full-year impact of the Blackstone JV portfolio NOI, as the acquisition is expected to close in 4Q’13. Coverage in the 2.0x-2.5x range is strong for a shopping center REIT at the ‘BBB-’ level. In a stress case not anticipated by Fitch in which the company repeats its same-store NOI results from 2009-2010, coverage would remain at 2.0x, which is adequate for the ‘BBB-’ rating. Big-Box Retailer Exposure The company’s top tenants as of March 31, 2013 were Walmart (Fitch IDR of ‘AA’ with a Stable Outlook) at 4.0% of pro rata rental revenues followed by TJX Companies at 2.6% and Bed Bath & Beyond at 2.5%, indicative of confined tenant credit risk. Lease expirations are measured, with 1.8%, 6.7%, and 6.8% of revenue on big-box space greater than 10,000 square feet expiring in 2013, 2014, and 2015, respectively. On small-shop space less than 10,000 square feet, 5.1%, 6.5%, and 5.9% of revenues expire in 2013, 2014, and 2015, respectively. DDR has a broad geographic footprint, and its top three geographic regions in 1Q’13 were Brazil at 9.7% of annual base rent, followed by Florida at 8.7% and Georgia at 8.3%. Credit-Focused Management Team Since the 2009-2010 period, DDR’s management team has been steadfast in decreasing leverage via common equity offerings and retained cash flow, extending debt duration, and improving liquidity. The company’s liquidity coverage ratio, calculated as liquidity sources divided by uses, is 2.0x for the period April 1, 2013 to Dec. 31, 2014, which is strong for the ‘BBB-’ IDR. Liquidity sources include unrestricted cash pro forma for capital raising related to the Blackstone JV portfolio acquisition, availability under unsecured revolving credit facilities, and projected retained cash flows from operating activities after dividends and distributions. Liquidity uses include consolidated and pro rata joint venture debt maturities and projected recurring capital expenditures. When including development cost to complete as a liquidity use, liquidity coverage remains good at 1.7x. Liquidity coverage improves to 4.8x assuming 90% of 2013-2014 secured debt maturities are refinanced. The company has no unsecured debt maturities until May 2015, and pro forma debt maturities are manageable in 2013-2014 when 0.8% and 6.8% of respective pro rata debt matures, followed by 15.6% in 2015. The company’s 1Q’13 adjusted funds from operations payout ratio was 49.3%, up from 41.2% and 20.1% in 2011, but still reflective of strong internally-generated liquidity. Strong Access to Capital Capital access remains solid and terms have continued to improve. In June 2012, the company issued $300 million 4.625% senior unsecured notes due 2022 priced to yield 4.865% to maturity, or 325 basis points over the benchmark treasury rate, and in July 2012, DDR issued $200 million 6.5% class J preferred stock. In November 2012, DDR re-opened the 4.625% notes due 2022 and priced $150 million to yield 3.465% to maturity, or 185 basis points over the benchmark treasury rate. DDR also accessed the secured debt market and its at-the-market equity offering program in 4Q’12. In January 2013, the company refinanced its unsecured revolving credit facilities with a pricing reduction to LIBOR plus 140 basis points (a decrease of 25 basis points from the previous rate) and refinanced its secured term loan with a pricing reduction to LIBOR plus 155 basis points (a decrease of 15 basis points). DDR subsequently issued $150 million of 6.25% class K preferred stock. On May 15, in connection with the Blackstone JV portfolio acquisition, the company forward-funded a follow-on common stock offering for 34 million shares at $18.90 per share, which including the overallotment option will total approximately $739 million. On May 16, the company issued $300 million 3.375% senior unsecured notes due 2023 priced to yield 3.447% to maturity or 158 basis points over the benchmark treasury rate. Fitch has assigned a ‘BBB-’ rating to these securities. Leverage Expected to be Consistent with ‘BBB-’ Pro forma leverage is slightly high for the ‘BBB-’ rating at 7.2x, compared with 8.0x in 2011 and 8.2x in 2010. Debt repayment via follow-on common stock offerings and retained cash flow has accelerated leverage reduction. Fitch projects that leverage will fall below 7.0x in 2014-2015 due to positive fundamentals and the full year impact of the Blackstone JV portfolio NOI. Leverage in the 6.5x-7.0x range is appropriate for a ‘BBB-’ rating for a shopping center REIT. In a stress case not anticipated by Fitch which DDR repeats its same-store NOI results from 2009-2010, leverage would remain around 7.5x, which would be weak for the ‘BBB-’ rating. Growing Unencumbered Pool DDR has incrementally added power centers and other retail assets across multiple MSAs to the unencumbered pool. The company is selectively re-developing unencumbered assets such as Plaza Del Sol in San Juan, Puerto Rico and Aspen Grove in Denver, CO to bolster unencumbered cash flow. Unencumbered properties, defined as pro forma unencumbered NOI divided by a stressed 8% capitalization rate plus a 50% haircut on unencumbered land, covered unsecured debt by 1.8x as of Mar. 31, 2013 pro forma, which is low for the ‘BBB-’ rating. However, a haircut on land is conservative given impairments incurred on DDR’s land during previous years. Stable Outlook The Stable Outlook reflects Fitch’s expectation that coverage will sustain between 2.0x and 2.5x, due principally to 2%-3% same-store NOI growth, that leverage will sustain just below 7.0x, and that unencumbered asset coverage will approach 2.0x as DDR continues to reduce secured debt levels via unsecured debt and common stock offerings. In addition, the covenants in the company’s debt agreements do not restrict financial flexibility. Preferred Stock Notching The ‘BB’ rating of the preferred stock (a two-notch differential from the IDR) is consistent with Fitch’s criteria for corporate entities with an IDR of ‘BBB-’. Based on Fitch’s research on ‘Treatment and Notching of Hybrids in Nonfinancial Corporate and REIT Credit Analysis,’ these preferred securities are deeply subordinated and have loss absorption elements that would likely result in poor recoveries in the event of a corporate default. RATING SENSITIVITIES The following factors may have a positive impact on DDR’s ratings and/or Outlook: –Fitch’s expectation of fixed-charge coverage sustaining above 2.3x (pro forma coverage is 2.3x); –Fitch’s expectation of leverage sustaining below 6.5x (pro forma leverage is 7.2x and leverage is expected to fall below 7.0x in 2014). The following factors may have a negative impact on DDR’s ratings and/or Outlook: –Fitch’s expectation of fixed charge coverage sustaining below 2.0x; –Fitch’s expectation of leverage sustaining above 7.5x; –Base case liquidity coverage sustaining below 1.25x. Contact: Primary Analyst Sean Pattap Senior Director +1-212-908-0642 Fitch Ratings, Inc. One State Street Plaza New York, NY 10004 Secondary Analyst Steven Marks Managing Director +1-212-908-9161 Committee Chairperson Philip Zahn Senior Director +1-312-606-2336 Media Relations: Sandro Scenga, New York, Tel: +1 212-908-0278, Email: [email protected]. Additional information is available at ‘www.fitchratings.com’. Applicable Criteria and Related Research: –Criteria for Rating U.S. Equity REITs and REOCs (Feb. 26, 2013); –Treatment and Notching of Hybrids in Nonfinancial Corporate and REIT Credit Analysis (Dec. 13, 2012); –Recovery Ratings and Notching Criteria for Equity REITs (Nov. 12, 2012); –Corporate Rating Methodology (Aug. 8, 2012). Applicable Criteria and Related Research: Corporate Rating Methodology here Recovery Ratings and Notching Criteria for Equity REITs here Treatment and Notching of Hybrids in Nonfinancial Corporate and REIT Credit Analysis here Criteria for Rating U.S. Equity REITs and REOCs here Additional Disclosure Solicitation Status here ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: here. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY’S PUBLIC WEBSITE ‘WWW.FITCHRATINGS.COM’. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH’S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE ‘CODE OF CONDUCT’ SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

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Capital Dynamics has invested in a 21-megawatt (MW) onshore wind farm project in Northern Ireland. Capital Dynamics holds a 100% ownership stake in the project called the Dunmore wind farm.

PRESS RELEASE

Capital Dynamics, a global private asset manager, is pleased to announce it has invested in a 21-megawatt (MW) onshore wind farm project in Northern Ireland.

Capital Dynamics holds a 100% ownership stake in the project called the Dunmore wind farm. Capital Dynamics has commenced construction of the project and has secured a 15-year agreement with a major UK power retailer for the purchase of the energy produced by the seven turbine scheme. This means investors will begin receiving steady streams of income immediately upon completion of the project and commencement of power generation, both of which are expected in the first quarter of 2014.

Capital Dynamics has partnered with highly experienced wind developer TCI Renewables, whose specialist onshore wind development activities span Great Britain, Ireland and North America. The project is fully complemented by a 15-year warranty, operation and maintenance contract with Danish turbine supplier Vestas Wind Systems.

The Dunmore wind farm is situated just eight kilometers from the North Sea coast, near Limavady in County Derry, one of the highest wind speed locations in all of Europe. The project also benefits from exposure to the single “All Island” electricity market between Northern Ireland and the Republic of Ireland. The “All Island” electricity market has committed to delivering 40% of its total electricity supply from renewable energy sources by 2020, the majority of which is expected to be supplied by wind power.

“The Dunmore wind farm is an outstanding wind power project with very strong fundamentals in its location, both in proximity to the grid and a robust wind supply,” said Rory Quinlan, Managing Director in the Clean Energy and Infrastructure team at Capital Dynamics. “Using well-proven Vestas V90 turbines, this clean energy investment will offer our investors attractive cash yields year-on-year under a 15-year sales contract with one of Ireland’s leading energy suppliers. Our team has significant experience in onshore wind power in the UK, adding value throughout the construction and long-term operation phase.”

“We are delighted to have made an investment in such a compelling wind power project and in such a strategic location,” said Stefan Ammann, CEO of Capital Dynamics. “With this latest direct investment in renewable energy, our Clean Energy and Infrastructure program continues to gain momentum. We expect to make further investments in high-quality clean energy projects over the coming months, offering strong and stable cash returns.”

Capital Dynamics’ CEI team
Capital Dynamics’ CEI team collectively holds over 100 years of experience in investing, financing, owning and operating conventional and clean energy businesses globally. Established to capture attractive investment opportunities in this new class of real assets, Capital Dynamics’ CEI business mandate is to invest directly in proven clean energy technologies – such as solar, wind, biomass, geothermal, small hydro and landfill gas – across the globe. Since establishment of Capital Dynamics’ CEI business, the CEI team has successfully acquired, built and now manages more than 170 MW of clean energy capacity in North America and Europe.

Capital Dynamics
Capital Dynamics is an independent, global asset manager, investing in private equity and clean energy infrastructure. We are client-focused, tailoring solutions to meet investor requirements. We manage investments through a broad range of products and opportunities including separate account solutions, investment funds and structured private equity products. Capital Dynamics currently has USD 17 billion in assets under management1.

Our investment history dates back to 1988. Our senior investment professionals average over 20 years of investing experience across the private equity spectrum. We believe our experience and culture of innovation give us superior insight and help us deliver returns for our clients. We invest locally while operating globally from our London, New York, Zug, Beijing*, Tokyo, Hong Kong, Silicon Valley, Sao Paulo, Munich, Birmingham, Seoul, Brisbane, Shanghai* and Scottsdale offices.

1Capital Dynamics comprises Capital Dynamics Holding AG and its affiliates; assets under management, as of December 31, 2012, include assets under discretionary management, advisement (non-discretionary), and administration across all Capital Dynamics affiliates. Investments are primarily on behalf of funds managed by Capital Dynamics. *Capital Dynamics China is a legally separate company operating under a strategic cooperation with Capital Dynamics.

For further information, please contact:
MHP Communications
Virginia Furness, Consultant +44 (0) 203 138 8157 [email protected]
Jade Neal, Associate Director +44 (0) 203 138 8215 [email protected]

Capital Dynamics
Rory Quinlan, Managing Director +44 (0) 783 347 6370 [email protected]

Virginia Furness
Consultant

MHP Communications
60 Great Portland Street, London, W1W 7RT
Tel: +44 (0)20 3128 8100

Direct Dial: +44 (0)20 3128 8157
Mobile: +44 (0)7780 481 909

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MediSwipe, a data management solutions company for the medicinal marijuana and health care industry, has received the first $100,000 of a total of $600,000 in funding from a Chicago-based private equity fund. The company plans to use the capital to expand its marketing efforts for its cloud-based patient management system.

PRESS RELEASE

MediSwipe Inc, a data management solutions company for the medicinal marijuana and health care industry, today announced that the company has received the first $100,000 of a total of $600,000 in funding from a Chicago based private equity fund as of Tuesday this week. The Company plans to use the infusion of capital to expand its marketing efforts for its cloud-based patient management system or “MediSwipe DMS” to medicinal dispensaries across 20 states and distribution of its’ new Hemp based beverages “Chillo” and C+ Swiss Tea.

“We are extremely pleased to finally have the capital on our balance sheet to execute our business model in an aggressive manner at the very time we have completed our applications and introduced our wellness division. We are already receiving numerous requests from new clients for our beverages across the country and are fulfilling orders everyday. Our new shipping facility in Detroit is over 10,000 square feet with offices, loading docks and is both FDA and TSA monitored. We share trucking, shipping docks and inventory control with name brand food companies, and are moving product to Oregon and California this for new orders,” stated B. Michael Friedman, CEO of MediSwipe Inc.

“Our new Digital ID Hotline product announced just last week, allowing patients once certified and registered with the state to scan their records and have access via fax or mobile and be authenticated by live operators 24/7 for just $19.99 a year is also gaining traction. We are migrating 3,500 patients to the system now, and we expect this system with the feedback we are getting to be one of the biggest revenue generators of our Company. With the recent events in Southern California dispensaries last week closing and now re-opening, why would patients be held hostage with their medical records and history? For about two bucks a month, they can have complete control and by calling an 800 number send their records anywhere they want in seconds. I want MediSwipe to have 100,000 patients on this system by the third quarter. It’s a goal I believe is reachable, but more important is necessary for the patients,” further stated Friedman.

About MediSwipe Inc.
MediSwipe Inc. (www.MediSwipe.com) provides innovative patient solutions for electronically processing transactions within the healthcare industry. MediSwipe provides terminal-based service packages and integrated Web Portal add-ons for physicians, clinics, hospitals and medical dispensaries that include: digital patient records, Electronic Referrals, Credit/Debit Card merchant services, Check Guarantee and Accounts Receivable Financing.

FORWARD-LOOKING DISCLAIMER
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of MediSwipe Inc. to be materially different from the statements made herein.

Contact Information

Contact:
MediSwipe Inc.
248.262.6850
[email protected]

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North American Partners in Anesthesia (NAPA), a specialty anesthesia and perioperative management company has announced New Jersey Anesthesia Group has joined NAPA. In April 2011, Moelis Capital Partners led a recapitalization of NAPA’s practice management company, providing the company with the ability to pursue growth opportunities and maintain its leadership position in the expanding anesthesia management market.

PRESS RELEASE

North American Partners in Anesthesia (NAPA), the largest single specialty anesthesia and perioperative management company in the United States, today announced New Jersey Anesthesia Group (NJAG), located in Paterson, NJ, has joined NAPA. With the addition of NJAG, NAPA continues its expansion in the New Jersey anesthesia market. An additional 73 NJAG clinicians will join NAPA’s operations.

“From our first interactions with NJAG leadership, it was clear that NAPA and NJAG shared a similar clinical philosophy and approach to delivering care,” said Timothy J. Dowd, CEO and Managing Partner of North American Partners in Anesthesia. “As NAPA looks to strategically expand, we are seeking high quality practices with a strong leadership and focus, which is exactly what NJAG embodies. We look forward to providing our newest partner with the foundation to flourish and continue to advance our shared goal of providing quality anesthesia care.”

New Jersey Anesthesia Group is a multifaceted anesthesia practice located in northern New Jersey. The group provides anesthesia services for St. Joseph’s Regional Medical Center, St. Joseph’s Wayne Hospital, Meadowlands Hospital Medical Center, and St. Michael’s Medical Center. In addition, NJAG provides anesthesia services to more than 12 outpatient facilities in the region. Total Pain Care, a division of NJAG that delivers state-of-the-art pain management services in Passaic and Bergen counties, is also included in the transaction.

“NJAG was attracted to NAPA because of its commitment to clinical excellence and leading infrastructure to support our facility clients in an evolving healthcare environment,” said Stephen Winikoff, M.D., president of NJAG. “At our core is quality, and joining NAPA will enable us to continue to practice medicine with the same local focus on quality, while incorporating the business infrastructure NAPA offers. NAPA’s wealth of knowledge, data and resources will provide our clinicians with the essential tools to continue to improve the quality of patient care we provide as well as enhance our residency program.”

In April 2011, Moelis Capital Partners, the private equity business of Moelis & Company, led a recapitalization of NAPA’s practice management company, NAPA Management Services Corporation (NMSC) providing the company with the ability to pursue growth opportunities and maintain its leadership position in the expanding anesthesia management market.

About North American Partners in Anesthesia

Founded in 1986, North American Partners in Anesthesia (NAPA) is the leading single specialty anesthesia management company in the United States. NAPA is comprised of the most respected clinical staff, providing thousands of patients with superior and attentive care. The company is known for partnering with hospitals and other health care facilities across the nation to provide anesthesia services and perioperative leadership that maximize operating room performance, enhance revenue, and demonstrate consistent patient and surgeon satisfaction ratings.

About New Jersey Anesthesia Group

Founded in 1988, New Jersey Anesthesia Group has developed into the preeminent provider of anesthetic care and pain services in northern New Jersey. The dedicated physicians of NJAG span many subspecialties of anesthesiology including pediatrics, obstetrics, cardiac, neurosurgery and pain medicine. NJAG has one of the largest residency programs in the state of New Jersey and is an affiliate of Mount Sinai School of Medicine.

ABOUT MOELIS CAPITAL PARTNERS

Moelis Capital Partners is a middle market private equity firm founded in 2007 in connection with the formation of Moelis & Company, a global investment bank. Moelis Capital Partners manages $800 million of committed private equity capital and specializes in traditional private equity investments in the middle market. For more information, please visit www.moeliscapital.com.

Contact Information

Media Contacts:
Jill Aaronson
Marketing Coordinator
North American Partners in Anesthesia
t: (516) 945-3030
[email protected]

Andrea Hurst
Marketing & Communications
Moelis & Company
t: (212) 883-3666
m: (347) 583-9705
[email protected]

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Del Monte Foods and Natural Balance Pet Foods have signed a merger agreement. Natural Balance Pet Foods, makers of super-premium pet food for dogs and cats sold throughout North America and also in Europe and Asia, will join Del Monte’s robust pet products portfolio.

PRESS RELEASE

Del Monte Foods and Natural Balance Pet Foods®, Inc. announced today that the companies have signed a merger agreement. Natural Balance Pet Foods®, makers of super-premium pet food for dogs and cats sold throughout North America and also in Europe and Asia, will join Del Monte’s robust pet products portfolio.

“Natural Balance was created nearly 25 years ago to give pet parents the best super-premium pet food on the market,” said Joey Herrick, president and founder, Natural Balance Pet Foods®, Inc. “After careful consideration, we believe we’ve found the perfect partner to help the business grow for the next 25 years. Not only does Del Monte care about pets as much as we do, they have a complementary culture and set of values, their respected brands are found in eight out of ten U.S. households and they have been a trusted name for healthy, quality consumer food for more than 100 years. Natural Balance looks forward to working hand-in-hand with Del Monte to leverage their strong distribution, supply chain and innovation resources that will help the brand achieve its next level of growth.”

“Natural Balance will continue to offer pet parents super-premium, high quality formulas that they have come to know and expect, and we look forward to continuing to nurture our valued relationships with our customers and other partners,” continued Herrick.

“Del Monte Foods is proud to welcome Natural Balance® into the Del Monte family of brands,” said Dave West, CEO, Del Monte Foods. “Natural Balance is well-positioned in the super-premium pet specialty channel and Del Monte looks forward to supporting and further strengthening that position, while honoring the brand’s esteemed culture and history.”

Continued West, “This merger is consistent with our long-term strategy for Del Monte to further strengthen our pet food and snacks brand portfolio and accelerate growth by expanding in the pet specialty channel. This offers us exciting prospects for continued growth, particularly in terms of strengthening our reach to independent pet retailers.”

The merger includes the equity interest held by private equity firm VMG Partners. “We are very proud to have worked side by side with Joey and the Natural Balance team in building one of the strongest brands in the pet specialty channel. We are excited about passing the baton to Del Monte Foods, who we believe will continue to grow and strengthen the Natural Balance brand,” said David Baram, VMG Managing Director.

Natural Balance Pet Foods®, Inc. was founded in 1989 by Dick Van Patten and Joey Herrick. Today, the brand includes both dog and cat formulas and spans wet food, dry food and treats. Natural Balance is headquartered in Pacoima, CA.

The purchase price and financial terms are not disclosed. The merger includes all Natural Balance® brands, products and other trademarks. The companies anticipate the merger will close in mid-June, subject to customary closing conditions and regulatory clearances.

About Dick Van Patten’s Natural Balance Pet Foods®
Natural Balance® Pet Foods, created in 1989 by Dick Van Patten and Joey Herrick, is a leading premium pet food brand, offering more than 225 dog and cat products. Natural Balance products include Original Ultra® Ultra Premium Pet Foods, L.I.D. Limited Ingredient Diets® Formulas, ALPHA® Grain-Free Formulas, Delectable Delights™ Stews for dogs and cats and many more.

About Del Monte Foods
Del Monte Foods is one of the country’s largest producers, distributors and marketers of premium quality, branded pet products and food products for the U.S. retail market, generating approximately $3.7 billion in net sales in fiscal 2012. With a powerful portfolio of brands, Del Monte products are found in eight out of ten U.S. households. Pet food and pet snacks brands include Meow Mix®, Kibbles ‘n Bits®, Milk-Bone®, 9Lives®, Pup-Peroni®, Gravy Train®, Nature’s Recipe®, Canine Carry Outs®, Milo’s Kitchen® and other brand names. Food product brands include Del Monte®, Contadina®, S&W®, College Inn® and other brand names. The Company also produces and distributes private label pet products and food products.

CONTACTS:

Chrissy Trampedach, Del Monte Foods, (415) 247-3420, [email protected]
Joanna DiNizio, Coyne PR for Del Monte Foods, (973) 588-2000, [email protected]
Rob Bailey, RBCPR for Natural Balance Pet Foods, Inc., 201-760-0200 ext. 101, [email protected]

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European lower mid-market private debt manager Beechbrook Capital has raised 67 million euros ($86 million) at the first close of its latest fund, Beechbrook Mezzanine II. With pledges of a further 25 million euros for additional closes later in the year, Beechbrook is well on course for its target fund size of 100 million euros to 120 million euros.

PRESS RELEASE

Beechbrook Capital, one of Northern Europe’s most active lower mid-market private debt managers, has raised €67 million at the first close of its latest fund, Beechbrook Mezzanine II. With pledges of a further €25 million for additional closes later in the year, Beechbrook is well on course for its target fund size of €100 million to €120 million.

Beechbrook Mezzanine II has been backed by six institutional investors, including the European Investment Fund and the UK Department of Business, Innovation and Skills (in conjunction with the Business Finance Partnership scheme), both of which are responding to the continuing dearth of funding available to lower mid-market companies from banks and mainstream institutional lenders.

The scarcity of traditional finance is reflected in the excellent deal flow being seen by Beechbrook. The firm specialises in supporting smaller and medium-sized private companies with an enterprise value of €10 million to €100 million across a range of industries in the UK and Northern Europe. Its strong team of investment professionals, led by Nick Fenn and Paul Shea, has already identified a promising pipeline of investment opportunities. They expect to make several investments before the end of 2013.

Beechbrook’s first fund, which raised around €100 million, is fully invested in a portfolio comprising 16 companies across its four target regions: the UK and Ireland, the Nordics, Benelux and the German-speaking countries.
ENDS

For further information, please contact: Nick Fenn, Beechbrook Capital,
020 3551 5970
[email protected]

Caroline Cecil, Caroline Cecil Associates,
020 7610 4110
[email protected]

Note to editors
Beechbrook Capital, a specialist fund manager founded in 2008, actively lends to and invests in SMEs across a range of industries in the UK and Northern Europe. Beechbrook supports companies with a typical enterprise value of £10 million to £100 million, investing an average of £4 million to £7 million per transaction. The mezzanine finance Beechbrook provides often fills a funding gap between equity and bank debt faced by SMEs as banks focus on big corporate and capital market activities. Beechbrook is backed by institutional investors drawn to the attractive risk-adjusted, circa double digit returns it provides.

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International investment bank Altium has promoted Andy Clarke to director and Elin Sion to assistant director. Clarke joined Altium in 2009 from Grant Thornton, having previously worked at LDC and KPMG. He specialises in private equity transactions and general mergers and acquisitions. Sion has been at Altium since 2011. She has been involved in a number of private equity and trade transactions in the business and support services and energy waste and renewables teams at Altium.

PRESS RELEASE

International investment bank Altium has announced the promotion of Andy Clarke to director and Elin Sion to assistant director.

Clarke joined Altium in 2009 from Grant Thornton, having previously worked at LDC and KPMG. He specialises in private equity transactions and general mergers and acquisitions (M&A).

Sion has been at Altium since 2011. She qualified as a chartered accountant with PwC and holds a Master’s degree in Chemical and Process Engineering from the University of Manchester. She has been involved in a number of private equity and trade transactions in the business and support services and energy waste and renewables teams at Altium.

Altium’s Chief Executive, Phil Adams, said: “Andy and Elin’s promotions have been well earned as they have both made significant contributions to the firm by working on a number of key deals.”

Altium has offices in Manchester, London, Frankfurt, Madrid, Munich, Milan, Paris and Zurich.

ENDS

Press contact: Chris Hopper / Liam Buckley @ MC2 (0161 236 1352)

About Altium
Altium provides M&A and corporate finance advice to companies, private equity firms and entrepreneurs. Altium is an international mid-market financial advisory group, employee owned and truly independent. The firm has been a leading advisor for more than 20 years and has developed into a group operating eight offices across Europe.

Altium has a leading position among European mid-market advisory groups, complemented by strategic alliances in key markets around the world. In North America, Altium has a partnership with Petsky Prunier, a leading investment bank in the technology, media, marketing, and healthcare industries. In India, Altium has a partnership with Allegro Advisors, India’s leading independent full service investment bank

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Blue Earth has appointed Robert C. Potts and Brett Woodard to its senior management team. Robert C. Potts will be the president and chief operating officer and Brett Woodard will be the chief financial officer of (CFO). Ray Lundberg will be the president of the newly created CHP division of the Company.

PRESS RELEASE

Blue Earth, Inc. (OTCQB: BBLU) announced today that Robert C. Potts and Brett Woodard are joining its senior management team effective May 16, 2013. Robert C. Potts will be the president and chief operating officer (COO) and Brett Woodard will be the chief financial officer of (CFO) of BBLU. Ray Lundberg will be the president of the newly created CHP division of the Company.
“We are delighted that Rob, Brett and Ray are joining the Blue Earth senior management team,” stated Dr. Johnny R. Thomas, CEO. “Their collective wealth of knowledge, strong energy business and project finance backgrounds will help us accelerate our strategic plan for growth.”
Most recently, Potts, Woodard and Lundberg served as founders, directors and officers of IPS Power Engineering, Inc., a Provo-based engineering, procurement and construction management (EPCM) company specializing in combined heat and power (CHP) projects.
Rob has been the President and CEO of several portfolio companies for a private equity firm. He was the CEO of the following companies: Prinexus, Finlay Systems, Color By Pergament, Direct Group, Direct Fulfillment, Mack Color Graphics, Halo Design Systems, and Tukan. He has broad experience with successful start-up and turnaround ventures. Rob’s broad understanding of manufacturing companies and integrating new systems into existing companies as well as his ability to execute new business strategies is expected to provide a solid basis for successfully growing Blue Earth into a co-generation company powerhouse. Rob earned his B.S. Mechanical Engineering, at Brigham Young University, and an M.B.A. – Finance at Lehigh University.
Brett has over 30 years of experience in finance, control and fundraising. Prior to IPS, Mr. Woodard served as the CFO of Wasatch Wind, Inc., an enterprise that developed wind energy projects in the western US and eastern Canada. With over 25 years of experience in structuring turnkey project finance transactions throughout the Americas, Europe and Asia in roles with Nokia (large telecommunications infrastructure), GE Capital and Nortel Networks, he has worked extensively with international financing organizations including several Export Credit Agencies. He holds an MBA, finance from the University of Utah.
Ray has extensive knowledge of contracting and managing large projects. He is a licensed general contractor in the State of Utah. Ray has over fifteen years of experience owning and operating a construction company for development projects. Ray brings a professional level to managing the analysis, design, and implementation of the pending CHP projects. He received an Associates Degree at Salt Lake Community College.
“Rob, Brett and Ray are strong additions to the Blue Earth senior management team,” stated Laird Q. Cagan, Chairman of Blue Earth, Inc. “Their diverse and successful business backgrounds in concert with their expertise in CHP project development and implementation will serve us well as we gear up for a very busy 2013 and beyond.”

About BBLU
BBLU is engaged in the clean technology industry with a primary focus on the energy efficiency and renewable energy sectors. We strive to participate in the global movement for a sustainable planet by offering products and services that will optimize energy use, reduce harmful environmental emissions and substantially reduce energy costs to our customers.

Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts included in this press release are forward-looking statements. These statements relate to future events or to the Company’s future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company’s control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company’s current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Such risks, uncertainties and other factors, which could impact the Company and the forward-looking statements contained herein are included in the Company’s filings with the Securities and Exchange Commission. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

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Tech Valley Communications, a facilities-based telecommunications service provider operating networks in New York and Northern New England, has appointed Maura Mahoney as senior director of marketing and product management effective immediately. Tech Valley Communications is a portfolio company of Boston-based private equity firm Riverside Partners.

PRESS RELEASE

Tech Valley Communications (TVC), a facilities based telecommunications service provider operating networks in New York and Northern New England, today announced the appointment of Maura Mahoney as Senior Director of Marketing and Product Management effective immediately. With more than 20 years of experience in marketing and product development leadership within the communications industry, Ms. Mahoney is ideally suited to drive the marketing and product development initiatives on behalf of the Company and to further enhance TVC’s brand awareness.
“I am pleased to announce the addition of Maura Mahoney to our leadership team,” stated Kevin O’Connor, Tech Valley Communications’ President and Chief Executive Officer. “Maura’s experience and in depth knowledge of the industry will allow us to fully realize the Company’s growth potential by executing on all aspects of Marketing throughout our expanding footprint in the Northeast.”
Prior to joining Tech Valley Communications, Ms. Mahoney led the marketing efforts for Conterra Broadband Services. Prior to this, Ms. Mahoney served as Vice President of Marketing, Business Development and Systems Engineering for Sidera Networks (and its various predecessors) from 2001 to 2012. In 2011, Ms. Mahoney was recognized by Fierce Telecom as one of the top female leaders in the telecom industry in its annual “Women in Wireline” feature.
“Joining the Tech Valley Communications team during this phase of aggressive growth and expansion is very exciting,” commented Ms. Mahoney. “I look forward to working with this talented team enhancing the high quality suite of fiber-based services that the Company offers and to tailor solutions that support our customers’ business objectives. I also look forward to building on TVC’s strong reputation as the provider of choice for business and wholesale customers requiring service throughout the New York and New England regions.”
Additional information on TVC can be found at www.techvalleycom.com or by following us on Twitter and LinkedIn.
About Tech Valley Communications
Tech Valley Communications (TVC), headquartered in Albany, NY, provides fiber optic data, voice, and high-speed Internet services to enterprise, carrier and wholesale customers in Upstate New York and New England utilizing its own FirstLight® fiber optic network which spans over 190,000 fiber miles connecting in excess of 1,300 lit buildings. TVC offers a robust suite of advanced telecommunications products, including dedicated Internet access, Metro Ethernet (E-LAN, E-Line), MPLS, traditional TDM solutions, SIP trunks, virtual PBX and audio-conferencing, managed commercial wireless systems, and Data Center Colocation. TVC’s clientele includes national cellular providers and CLECs and many leading enterprises, spanning high tech manufacturing and research, hospitals and healthcare, banking and financial, secondary education, colleges and universities, MDUs (Multi-Dwelling Units) and local and state governments. Tech Valley Communications is the parent company of New Hampshire-based CLEC, segTEL. Tech Valley Communications is a portfolio company of Boston-based private equity firm Riverside Partners.

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Hawksford, an independent trust company which is backed by UK mid-market private equity firm Dunedin, has appointed Maxine Rawlins, a partner at Ernst & Young, to the position of chief executive from 2014 when the incumbent chief executive, Peter Murley, retires. A partner at Ernst & Young in Jersey, Rawlins currently leads the Channel Islands Tax Practice and is Head of EMEIA Asset Management Tax.

PRESS RELEASE

Hawksford, the leading independent trust company which is backed by UK mid market private equity firm Dunedin, today announced that Maxine Rawlins, a partner at Ernst & Young, will take on the role of chief executive, in 2014, when the incumbent chief executive, Peter Murley, retires.

A partner at Ernst & Young in Jersey, Maxine currently leads the Channel Islands Tax Practice and is Head of EMEIA Asset Management Tax. Prior to this, she was chief executive of Maples Finance, an international trust business headquartered in the Cayman Islands. During this time she drove the significant growth of the business, including expansion into six new jurisdictions. Maxine was also director of business development and in-house legal counsel at Close Brothers. Maxine is a qualified barrister and Cayman registered attorney.

The current chief executive, Peter MurIey, who has held his role at Hawksford since March 2010 commented: “The Board and I would like to take this opportunity to formally welcome Maxine to Hawksford. Maxine has enormous experience in our market and is a highly respected and popular leader who will make a very significant contribution to the future of this business.

“I have made the personal decision to retire from my CEO role in 2014 after four years at Hawksford, during which the business has undergone substantial expansion with the support of our investor Dunedin and Chairman Philip Taylor.

“My focus is now on ensuring a seamless transition for our clients and staff.”

Earlier this year, Hawksford acquired Key Trust Company Ltd, its fourth acquisition since it was backed by Dunedin in October 2008.

In the last two years, the business has completed the acquisitions of Trustcorp Jersey Limited, L-S&S GmbH, a Swiss private wealth law firm and the employee solutions business of Standard Bank Dubai.

David Williams, partner at Dunedin, who sits on Hawksford’s board, commented: “We would like to join Peter and the Board in welcoming Maxine to Hawksford. She is highly experienced in her field and has successfully led businesses through periods of growth and expansion, which will be very relevant at Hawksford. Our focus remains on increasing client choice by driving international growth through a proactive buy and build strategy, and we look forward to working alongside Maxine

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Wanderful Media, an online local discovery shopping company, has secured an additional $9 million in funding from existing investors. This addition brings the company’s total funding to $36 million. Wanderful Media is a Silicon Valley-based company online discovery shopping business.

PRESS RELEASE

Wanderful Media™, an online local discovery shopping company, today announced an additional $9 million in funding from existing investors. This addition brings the company’s total funding to $36 million and comes on the heels of the April launch of the completely reimagined Find&Save® , an online community offering a comprehensive collection of local savings.

Wanderful Media is experiencing rapid growth with its Find&Save product, now available in all 50 of the top 50 designated market areas (DMAs). With Find&Save, Wanderful Media gives retailers a proven way to engage shoppers around local sales and products, with the intent of driving them across the threshold of retail stores. Find&Save provides shoppers a fun way to easily flip through all the latest sales in their area, keep track of what they need, and want, and share their discoveries with other shoppers wherever they are, via tablet, mobile or web.

“The retail and shopping landscape is evolving and Wanderful Media’s decision to ‘double-down’ on mobile and social has pushed us to the forefront of innovation in this area,” said Ben T. Smith, IV, CEO of Wanderful Media. “The latest round of funding emphasizes the continued enthusiasm from our core group of investors in the market potential and in our overall product strategy.”

With access to more than 100 million unique visitors per month throughout its network, Wanderful Media represents a media industry initiative to transform the $4 billion business of traditional advertising circulars through digital innovation – just as joint media ventures such as CareerBuilder and Cars.com strengthened the industry’s position through the use of new technology.

About Wanderful Media
Wanderful Media is a Silicon Valley company reinventing local online discovery shopping. Providing reach into more than 80 percent of U.S. markets through trusted media brands, Wanderful Media helps retailers bring consumers into local stores and gives consumers the most convenient way to discover local merchandise. Wanderful Media is an independent company financed by a powerful group of media companies that includes Advance Digital, A. H. Belo Corporation, Community Newspaper Holdings Inc., Cox Media Group, The E. W. Scripps Company, Gannett Co. Inc., GateHouse Media Inc., Hearst Corporation, Lee Enterprises, MediaNews Group, The McClatchy Company, and The Washington Post Co. Wanderful Media is headquartered in Los Gatos, Calif.

# # #

Useful Links
Wanderful Media Website
Wanderful Media on Twitter
Wanderful Media on Facebook

Tweet this
@wanderfulmedia adds another $9M in funding on the heels of its successful @findnsave launch http://bit.ly/UrsZfL

Contacts:
Libra White, Wanderful Media, 408-502-2431, [email protected]
Scott Lechner, Kulesa Faul for Wanderful Media, 650-340-1987, [email protected]

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Fleming Family & Partners and Garber Hannam & Partners Limited have announced announce a final distribution to the shareholders of FF&P Russia Real Estate Limited. The payment means RREL has now returned over $213 million to shareholders, including international private equity companies and clients of FF&P Asset Management.

PRESS RELEASE

Fleming Family & Partners (“FF&P”) and Garber Hannam & Partners Limited (“GHP”) are pleased to announce a final distribution to the shareholders of FF&P Russia Real Estate Limited (“RREL”).

The payment means RREL has now returned over $213 million to shareholders, including international private equity companies and clients of FF&P Asset Management. UK investors achieved a 2.1x return on their initial investment which sets RREL apart from most other Russian-based commercial real estate vehicles, in terms of returns.

RREL was launched by FF&P in 2003 as the first institutional fund focused on Russian commercial real estate investments. RREL acquired various commercial real estate assets in Moscow including the Gogolevsky 11 and Lesnaya 3 office centres, and warehouse assets at Sholokhovo and Tomilino. These were sold to international and domestic buyers including Hines Global REIT and Raven Russia plc.

FF&P sold its Russian business, including the real estate management team which advised RREL, to GHP in 2012.

Surviving the global financial crisis

RREL operated successfully throughout the difficult market conditions created by the global financial crisis. Throughout this period, its assets remained fully-leased to a strong international tenant base and held up their value. This meant that, despite the challenges posed by the global credit crunch, the team nevertheless succeeded in securing several refinancing facilities for the assets with international banks.

Oleg Myshkin, Managing Partner at GHP Real Estate noted that RREL is one of very few vehicles in the Russian property market to have completed the full investment cycle and returned significant profits to its shareholders. He attributed this success to the strong, multi-disciplinary team at GHP which has built significant experience and expertise in institutional management, over the course of advising RREL and its sister company, FF&P Russia Real Estate Development Limited (“RRED”).

On behalf of FF&P, Richard Hill, co-head of FF&P Advisory, said “We are delighted with the outcome for our clients against the backdrop of an extremely difficult global market over the last few years and the challenges presented by operating in a complex real estate market. This is testament to the expertise, commitment and energy of the real estate team in Moscow combined with the guidance of the company’s experienced board of directors throughout the investment cycle.”

The story continues
GHP Real Estate continues to manage RRED, which was launched by FF&P in 2007 with $153 million of capital. RRED has acquired two A-class development projects in St. Petersburg, namely the Electro office centre (www.electrospb.com) and the Trinity mixed use complex (www.trinityspb.com) both of which are fully financed and under construction, as well as a warehouse project in Tomilino, close to Moscow. RRED’s shareholders principally comprise international private equity companies, sovereign wealth funds and clients of FF&P Asset Management.

For further information, please contact:

Cubitt Consulting: James Isola +44 (0)207 367 5100 [email protected] (on behalf of Fleming Family & Partners)

GHP Russia Real Estate Management at +7 495 411 5300 or [email protected].

Notes to Editors

Fleming Family & Partners (“FF&P”) is an international wealth manager which advises wealthy individuals and families on how best to grow and maintain their capital, and how to transfer it between generations. The firm offers an institutional level of professional advice and service to individuals, and an investment process designed to manage risk in a way that is appropriate to each individual client’s needs and objectives.

FF&P Asset Management Limited invests clients’ funds in a range of asset classes, primarily through third party managers, designed to make use of the best abilities available in any given class and allowing clients to benefit from economies of scale. It also offers clients innovative, higher risk opportunities as appropriate. As well as benefiting from FF&P’s core asset management skills, clients also have access to its capabilities in private office and trust services, in private equity funds, in corporate finance advice and in financial planning.

FF&P was founded in 2000, following the sale of Robert Fleming Holdings to JP Morgan Chase Manhattan. It now manages assets of around £4 billion and beyond the founding Fleming family looks after an additional 50 core, discretionary clients.

FF&P Asset Management Limited is authorised and regulated by the Financial Services Authority.

Garber Hannam & Partners Limited (“GHP”) is a financial group which focuses on wealth management, real estate investment, direct investments, M&A and financial advisory. It strives to achieve long-term goals for the benefit of its clients and combines strategic investments and efficient asset management. The Group’s presence in the UK, Russia, Switzerland, Japan, Luxemburg and Guernsey provides a diverse range of investment opportunities for the company and our clients.

GHP has had a presence in Russia since 1992. In 1998, the company was called Fleming UCB and was affiliated to the international investment bank Robert Fleming & Co. Between 2000 and 2012, the company was a subsidiary of FF&P. In 2008, the company established its asset management business, the assets under the management of which have increased to 20 billion Roubles ($670 million).

In 2012 the company was sold by FF&P to management and renamed Garber Hannam & Partners Limited.

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ParkMe, a leading provider of real-time parking information to navigation companies and consumers and Amano McGann, a provider of off-street parking automation in the US, have merged. Angeleno Group, Fontinalis Partners and IDG Ventures are previous investors of ParkMe.

PRESS RELEASE

ParkMe, the leading provider of real-time parking information to navigation companies and consumers, and Amano McGann, the leading provider of off-street parking automation in the United States, have joined forces to bring the most comprehensive, real-time parking information to consumers nationwide.

With the largest off-street parking footprint in the industry, Amano McGann will provide ParkMe with real-time occupancy data from thousands of Amano parking installations nationwide. Amano McGann will reach millions of users who are accessing ParkMe data through ParkMe’s award-winning iOS mobile app, widget, website and its partnerships with GPS and in-car navigation systems. The data will allow drivers to find the best place to park based on location via a live map of available parking, which includes rates, hours of operation, and payment types, in addition to real-time occupancy information.

“Parking is one of the most stressful and wallet-draining experiences for any urban driver and our goal is simply to make parking as painless as possible,” said Alex Israel, COO and Co-Founder. “Integrating ParkMe with Amano McGann, which has the industry’s largest off-street parking footprint, further cements our leadership in delivering real-time parking information to even more consumers so they can easily find the closest and most economical parking available.”

“Amano McGann is committed to raising the bar in parking automation, and teaming with ParkMe will further extend our mobile innovation to reach even more users,” said Larry Feuer, President and CEO of Amano McGann. “As the mobile app leader in delivering real-time parking data, ParkMe is highly complementary for the Amano McGann portfolio. The integration of our live-parking databases enables us to improve the parking experience through real-time occupancy information.”

ParkMe allows drivers to find the best place to park based on location by providing a live map of available parking which includes parking rates, hours of operation, payment types, and real-time occupancy information for on-street meters and off-street parking lots and garages. The app, which has recently jumped into the top 10 of free navigation apps in the iTunes App Store, provides drivers with live parking information in hundreds of cities across North America and Europe. Users are able to find the perfect parking spot in more than 28,000 locations around the globe, 1,800 cities, 32 countries and seven continents. Download the free ParkMe iOS app by visiting the iTunes App Store.

For more information on the ParkMe and Amano McGann partnership, please visit ParkMe in booth #101 or Amano McGann in booth #325 at the 2013 IPI Conference & Expo in Fort Lauderdale, Florida from May 19-22, 2013. Moreover, to find parking at the conference check out ParkMe’s Ft. Lauderdale city guide.

About Amano McGann Amano McGann is the leader in parking automation and revenue control with a level of experience and service unmatched in the industry. Quality hardware and feature-rich software solutions have led to over 5,000 installations nationwide. Amano McGann has an extensive network of branch offices and distribution partners offering sales, installation, service and technical support. Amano McGann is a subsidiary of Amano Corporation, a worldwide organization with annual revenues in excess of $1 billion. Additional information about Amano McGann can be obtained from the company’s website at www.amanomcgann.com.

About ParkMe Based in Santa Monica, Calif., ParkMe is the leading provider of real-time parking information to navigation companies and consumers. Consumers can access ParkMe via GPS and in-car navigation systems, ParkMe.com, online widgets, iPhone, iPod Touch and iPad app. Founded by Sam Friedman and Alex Israel, ParkMe’s mission is to make parking easier, faster and cheaper. The Company collects and aggregates data about both on-street and off-street parking, and has built the world’s most comprehensive parking database. This includes more than 28,000 worldwide locations in more than 1,800 cities, 32 countries and seven continents. ParkMe can be found on the Web at ParkMe.com, on Twitter @TheParkMeApp, and on Facebook Facebook.com/TheParkMeApp.

ParkMe is backed by a highly respected group of investors, including Fontinalis Partners, IDG Ventures and Angeleno Group. Fontinalis Partners is a leading transportation technology strategic investment firm founded by Bill Ford, Ralph Booth, Mark Schulz, Chris Cheever, and Chris Thomas. IDG Ventures is a global network of venture capital funds with approximately $5 billion under management and a portfolio of over 220 companies built over the last 15 years.

Media Contacts:

For ParkMe: Ray Yeung / Nancy Zakhary | Brainerd Communicator | 212-986-6667 | [email protected] / [email protected]

For Amano McGann: Becky Collins / Marketing Manager | 612-524-6188 | [email protected]

SOURCE ParkMe

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Global investment management firm Invesco has elected Richard Wagoner as a member of the board of directors, effective October 7, 2013. Wagoner, 60, served as chairman and chief executive officer of General Motors Corporation from May 2003 through March 2009.

PRESS RELEASE

Invesco Ltd. today announced that G. Richard (“Rick”) Wagoner, Jr. has been elected a member of the Board of Directors, effective October 7, 2013. Mr. Wagoner, 60, served as chairman and chief executive officer of General Motors Corporation from May 2003 through March 2009.

“We are extremely pleased to welcome Rick to the Invesco Board of Directors,” said Invesco Chairman of the Board Rex Adams. “He brings tremendous experience and a wealth of knowledge to his new role. His guidance will be invaluable as we work to further strengthen our ability to meet the investment needs of our clients across the globe.”

With the addition of Mr. Wagoner, the Board expands to 11 members – 10 of whom, including Mr. Wagoner, are independent. Mr. Wagoner will also join the Audit, Compensation, and the Nomination and Corporate Governance committees.

Mr. Wagoner served as chairman and chief executive officer of General Motors Corporation (“GM”) from May 2003 through March 2009, and had been president and chief executive officer since June 2000. Prior positions held at GM during his 32-year career with that company include executive vice president and president of North American operations, executive vice president, chief financial officer and head of worldwide purchasing, and president and managing director of General Motors do Brasil. Mr. Wagoner is a member of the board of directors of The Washington Post Company and several privately held companies. In addition, he is a member of the advisory boards of AEA Investors and Jefferies Investment Banking and Capital Markets Group, and he advises a number of start-up and early-stage ventures. Mr. Wagoner is chair of the board of trustees of Duke University and a member of Duke’s Fuqua School of Business Advisory Board. He is a member of the mayor of Shanghai, China’s International Business Leaders Advisory Council. Mr. Wagoner received an MBA from Harvard Business School and a bachelor’s degree from Duke University.

About Invesco Ltd. Invesco Ltd. is a leading independent global investment management firm, dedicated to helping investors worldwide achieve their financial objectives. By delivering the combined power of our distinctive investment management capabilities, Invesco provides a wide range of investment strategies and vehicles to our retail, institutional and high net worth clients around the world. Operating in more than 20 countries, the firm is listed on the New York Stock Exchange under the symbol IVZ.

SOURCE Invesco Ltd.

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Danlaw, a provider of vehicle telematics solutions, automotive electronics and embedded engineering services, has appointed Jim Street as its new chief financial officer. Reporting directly to DANLAW’s Chief Executive Officer, Raju Dandu, Street brings deep experience with securing equity investments and funding sources.

PRESS RELEASE

Danlaw, Inc. (DANLAW), a global provider of vehicle telematics solutions, automotive electronics and embedded engineering services, announced today the appointment of Jim Street as its new Chief Financial Officer (CFO). Reporting directly to DANLAW’s Chief Executive Officer, Raju Dandu, Street brings deep experience with securing equity investments and funding sources, as well as managing the financial strength of fast-growing public and private companies to DANLAW’s explosive growth and expansion activities.

Street comes to Danlaw with a strong background in financial management, business model development and multi-national accounting and controls expertise. Street’s thirty-five years of financial management experience with high-tech alternative energy start-up companies and automotive OEMs in Michigan, will help to guide and propel Danlaw’s growth and global expansion.

“Jim has demonstrated success in helping to build great businesses for more than thirty-five years and has led the finance organizations of many successful private and public companies,” said Tom Rzeznik, President of DANLAW. “He also understands how to manage the growth and global expansion of high technology businesses, which is key to helping manage DANLAW’s explosive growth. We are very excited for him to help take DANLAW through the next phase of its growth initiatives.”

Before joining the company, Street was the VP of Finance for ALTe which was engaged in the business of designing, developing and installing complete hybrid-electric powertrains into fleet applications with forecast of $2.5 Billion annual revenue. Street served in senior financial management positions with Ford Motor Company, Mazda Motors (USA) and BBK, Inc. a business advisor and restructuring company, providing financial and operational oversight to multi-billion dollar business interests within these companies.

While at Ford and Mazda, Street led the finance effort for several national labor negotiations. During his time at BBK, he led several major companies through successful restructuring initiatives. Street earned his Bachelor of Arts in Accounting from Michigan State University, and his Masters of Business Administration from Wayne State University.
About Danlaw:

Danlaw’s 300+ engineering professionals have been providing cloud-based, connected vehicle telematics solutions and embedded electronics to OEM’s and their Tier-1 supply base for over 29 years. Danlaw has global reach with facilities in the USA, UK, India and China. Danlaw’s specialty areas include telematics, infotainment, vehicle network communications, embedded systems development, testing and manufacturing. Their customers include automotive insurance and fleet companies, automotive OEMs and suppliers, worldwide.

SOURCE Danlaw, Inc.

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Orthopaedic Synergy has elected two experienced directors to its board. Guy Mayer, an experienced orthopaedic executive, will serve as the chairman of the board of directors and David Johnson, an established medical device expert, will join as a director. Orthopaedic Synergy Inc., a Raynham, Mass.-based provider of products for the orthopaedic device market is backed by Pioneer Capital Partners and Birnie Capital Partners.

PRESS RELEASE

The Board of Directors of Orthopaedic Synergy, Inc. (“OSI”) whose subsidiary companies include OMNIlife science®, Inc., Enztec, Ltd., and Praxim, SA, have elected two experienced directors to their Board. Guy Mayer, an experienced orthopaedic executive, will serve as the Chairman of the Board of Directors and David Johnson, an established medical device expert, will join as a director.

Before joining OSI as Board Chairman, Mr. Mayer served as President and Chief Executive Officer of Ascension Orthopedics, Inc. until it was acquired by Integra Life Science Holdings Corporation. Prior to that role, Mr. Mayer was President, Chief Executive Officer and a Director of Tutogen Medical, Inc. where he played an instrumental role in the sale of Tutogen to RTI Biologics, Inc. Mr. Mayer has also served as President and CEO of several other well known companies in the pharmaceutical and orthopaedic industry, including as President of Zimmer’s Global Products Group. Currently Mr. Mayer also sits on the Board of Directors of Pivot Medical, Inc.

“I welcome the opportunity to serve as Chairman of OSI’s Board of Directors, and look forward to working with the newly formed Board and the executive teams at OMNI, Enztec and Praxim. While assisting OSI to deliver on the corporate mission and goals, I plan to focus on the strategic development and governance necessary to take the next step in the evolution of OSI and its subsidiaries,” Mr. Mayer said in accepting his appointment.

The Board of Directors also appointed David Johnson as a Board member. Mr. Johnson joins the Board with a broad spectrum of corporate management expertise and over 30 years experience leading private and public medical device companies. Most recently he served as Chief Executive Officer of ConvaTec, Inc. Prior to this position he held senior level positions with Zimmer, Inc., Fisher Scientific, and Baxter Corporation. He currently serves on the Board of Directors of Alliqua, Inc.

George Cipolletti, Omni’s Chief Executive Officer, stated he was thrilled with the additions of Guy and Dave to the Board of Directors. “They bring a wealth of strategic and industry experience that will help to facilitate the implementation of our aggressive growth initiatives. Their business relationships and knowledge relating to strategic transactions, private equity and the capital markets will greatly benefit the company as we move forward.”

About Orthopaedic Synergy, Inc. Orthopaedic Synergy, Inc. functions as a holding company for its subsidiaries, OMNIlife science, Inc., (USA) Enztec Limited (New Zealand) and PRAXIM, SA. (France). Together these companies represent a global reconstructive orthopaedic concern that is committed to improving clinical outcomes through the design, manufacture and global distribution of high quality orthopaedic implants, as well as instrumentation and computer and robotics based surgical delivery systems for those implants. Providing a business and financial environment that encourages innovation, engineering excellence and shared business success in our subsidiary companies is the cornerstone of our corporate philosophy.

About OMNIlife science, Inc. OMNIlife science, Inc. was founded in 1999 as an organization committed to the design, manufacture and distribution of high quality orthopaedic devices. Our corporate headquarters are located in East Taunton, Massachusetts. Our products are prescribed by orthopaedic surgeons for their patients who require total joint replacement. OMNI is ISO 13485 certified and its products are FDA cleared and CE approved. OMNI is emerging as a leader in modular hip stem technology and total knee replacement systems. We continue to challenge the design and functionality of our products based on continued advances in reconstructive surgical techniques, anatomic and biomechanical data, as well as input from surgeons. Our corporate strategic objectives include continued growth through line extensions to our hip and knee product offerings as well as the introduction of new products that will complement our current product portfolio and allow us to provide new clinical options for our customers.

SOURCE Orthopaedic Synergy, Inc.

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CloudCheckr, Excell Partners and the Rochester Angel Network have announced a collaborative partnership which will make CloudCheckr software available at no charge to Excell and RAN sponsored companies. The CloudCheckr solution enables public cloud users to increase visibility and control of their public cloud deployments.

PRESS RELEASE

CloudCheckr Inc. , Excell Partners, and the Rochester Angel Network (RAN) are proud to announce a collaborative partnership which will make CloudCheckr software available at no charge to Excell and RAN sponsored companies. The CloudCheckr solution (CloudCheckr) enables public cloud users to increase visibility and control of their public cloud deployments. As a result of this collaboration, all Excell and RAN companies can focus their energies on building their technologies while CloudCheckr provides a secure solution to help them optimize their cloud performance and control costs.

“We are delighted to present this to our companies. The fact that this is a cutting-edge technology developed in Rochester and provided to other Rochester-based companies underscores the dynamism and possibilities in Western NY.”
Rami Katz, COO of Excell says: “We are delighted to present this to our companies. The fact that this is a cutting-edge technology developed in Rochester and provided to other Rochester-based companies underscores the dynamism and possibilities in Western NY.”

CloudCheckr compiles a complete inventory of cloud resources and, within its 3 modules, applies state-of-art analytics. The Resource Control module features historical reporting, trend analysis, and real-time change monitoring. These features allow users to review historical data, track present usage, and model future needs.

The Cost Optimization module analyzes utilization and pricing options to produce actionable sizing and purchasing recommendations. On average, CloudCheckr recommendations save small companies upwards of 50% of their monthly infrastructure costs without sacrificing functionality.

The Best Practices module compares users’ deployments against hundreds of proprietary best practices for properly configuring cloud resources. These encompass the areas of security, cost, availability and usage. CloudCheckr identifies and prioritizes configuration exceptions along with detailed explanations and instructions for correcting the identified issues.

CloudCheckr Inc., founded in 2011, is based in Rochester, NY with satellite offices in San Francisco and Argentina. The company provides a complete analytic solution for public cloud users. It is an Amazon Web Services Technology Partner.

Excell Partners is a Seed-Stage Venture Capital Fund established in cooperation with the University of Rochester and the State of New York to invest in High-Tech Startups in Upstate NY. Excell manages a portfolio of 21 ventures and is looking to make 8-10 investments in 2013.

Rochester Angel Network is a is a private group of accredited investors in the Greater Rochester, NY Region with an interest in investing in seed and early stage startup companies. The network provides an accessible and efficient forum by which entrepreneurs can find potential investors, and investors can find deals of interest.

Contacts

CloudCheckr Inc.
Aaron Klein, 585-734-6011

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Computer game maker Richard Garriott has secured $2 million in crowd funding for Shroud of the Avatar™: Forsaken Virtues. The original pledge goal for Shroud of the Avatar on Kickstarter was $1 million.

PRESS RELEASE

Legendary computer game maker Richard Garriott is getting back to his fantasy RPG roots to develop Shroud of the Avatar™: Forsaken Virtues. And now he and his game design team at Portalarium® have the funds to fully make the game thanks to a highly successful Kickstarter crowd funding campaign that ended with more than $2 million raised. The original pledge goal for Shroud of the Avatar on Kickstarter was $1 million. Garriott is best-known for developing the hugely popular Ultima series of role-playing games.

“The Kickstarter backers will forever have certain perks that will remain exclusive to that part of our campaign”
The Shroud of the Avatar Kickstarter campaign ended Sunday, April 7 at 10 a.m. Central time. At closing, more than 20-thousand backers had pledged $1.9 million on the game’s Kickstarter page. Combined with figures from the game’s own crowd funding site located at ShroudoftheAvater.com, Shroud of the Avatar raised a total $2.030 million at closing from 23,096 backers.

“I am incredibly grateful to all the fans who backed us during the Kickstarter campaign,” said Garriott. “And those fans are now part of our design and development process going forward with Shroud of the Avatar. We will be listening to all of them as we go about making the kind of fantasy RPG that I really enjoyed making in the earlier part of my career. But this is really only the start. We will continue to keep our own crowd funding store open to bring in more funds to help us add even more features to the game.”

Fans who were unable to make a pledge on Kickstarter, still have an opportunity to get behind the project. The store at www.ShroudoftheAvatar.com continues to provide several ways to back the project. “The Kickstarter backers will forever have certain perks that will remain exclusive to that part of our campaign,” said Garriott. “People who visit the game store now will see many Kickstarter-like tiers to back the project. But we will continue to add new items to the game that will be available for purchase by both our Kickstarter backers and new backers. The exciting part is that a lot of what we will be adding going forward will be based on feedback from our fans; items and features that they are already telling us they want to see in the game.”

The Kickstarter campaign saw several major announcements about Shroud of the Avatar, including news that New York Times best-selling author Tracy Hickman is joining the team as lead story designer. Several stretch goals were announced and successfully reached including a serialized prequel novel based on the Shroud of the Avatar storyline and authored by Hickman, a pet system with animal taming, guild houses and banks, city theaters for player performances, castle merchants with unique merchandise and much more.

Shroud of the Avatar is expected to launch in 2014. For more information on the game and to become a backer of the project go to www.ShroudoftheAvatar.com (PayPal accepted).

About Portalarium

Portalarium was formed in September of 2009 in Austin, Texas. The company was co-founded by legendary game developer Richard Garriott, who created Ultima, one of the longest running and most successful fantasy role-playing game series ever. For more information about Portalarium, go to www.portalarium.com.

Portalarium and Shroud of the Avatar are trademarks of Portalarium, Inc. All other trademarks are the property of their respective owners.

Contacts

Portalarium
David Swofford, 512-750-9098
[email protected]

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Asian specialist investment firm Asiya Investments has launched Asiya Investments Hong Kong. The firm will manage the business’ emerging Asia investment activities from that base.

PRESS RELEASE

Asiya Investments (“Asiya”), the Asia specialist investment firm, today

announced the launch of Asiya Investments Hong Kong Limited (“Asiya Hong Kong”),

licensed and regulated by the Securities & Futures Commission (SFC), from where

the firm`s Emerging Asia investment activities will be managed.

The Company`s establishment of a permanent, on-the-ground, presence is in

response to growing demand from GCC investors for more direct access to Emerging

Asia`s growth opportunities. Asiya Investments` proximity to these markets is

expected to further deepen its relationships with local institutions and

businesses and enhance its ability to source more investments in Emerging Asia,

which today accounts for over 20% of the world`s GDP and 35% of the growth in

the global economy.

Asiya Hong Kong is managed by its two Executive Directors, Sulaiman Alireza and

Dan Xystus. With a 20-strong team of investment professionals in place in Hong

Kong, they will focus on further building Asiya`s investments in public markets

as well as direct investments across Emerging Asia.

Mr. Alireza spearheaded the establishment of the Hong Kong entity, having

previously worked at HSBC`s Capital Markets division and spent over 8 years in

Hong Kong. He now leads the Direct Investments and Joint Ventures practice. Mr.

Xystus in turn leads the firm`s Public Equity investments and enjoys over 20

years experience in the financial markets. Having been a Managing Director at

Chicago Equity Partners, he joined the Group in 2008 when he led the

establishment and then management of Asiya`s public equity investments and hedge

fund strategies. The hedge funds now have a strong track record over the last

three years.

Commenting on the announcement, Mr. Ahmad Al-Hamad, Group Managing Director of

Asiya Investments, said: “We are really excited about this move, which we have

been working on since we established Asiya Investments Dubai last year. What

this move does for us is build upon the solid foundations we`ve established over

the past eight years. Since 2005, we have steadily built a strong presence in

Asia through our partners and the investments we`ve made, which total over $500

million.”

He continued, “Historically, there has been an under investment from the GCC

into Asia relative to the region`s share of global growth. Now we`re finding

increasing demand from Arab investors for detailed knowledge of the investment

landscape in Asia. This presence, in the heart of Asia, puts us in an even

better position to address this portfolio imbalance and deliver that expertise

to our shareholders and partners. We offer them unique access to direct deals

and world-class investment management capabilities – both areas in which we have

generated a robust track record of performance and returns for Asiya and our

co-investors. We`re also going to use our base in Hong Kong to facilitate joint

ventures between companies in Emerging Asia and the GCC, as we see an

intensifying level of economic and social engagement between the two regions.”

The establishment of the firm`s Hong Kong presence marks the planned and

continued expansion of the Group. In May 2012, Asiya Investments Dubai was

launched as its Investment Advisory arm based in the Dubai International

Financial Centre (DIFC), as a wholly owned subsidiary of the Group`s Corporate

Office in Kuwait.

Asiya Investments is an investment firm specialising entirely in Emerging Asia,

acting as a bridge for investments between the Middle East and the markets of

Emerging Asia. Asiya does this by inviting clients to invest with it in a range

of assets in which the firm invests its own capital, including public and

private equity, real estate and income producing strategies. The firm

specifically concentrates on investment and advisory in sectors that will

benefit from rising domestic demand in Emerging Asia, driven by population

growth and accelerated urbanization. Key sectors for the Firm include: Energy,

Real Estate, Infrastructure, Financial Services and Consumer Products.

Additionally, Asiya also provides co-investment opportunities as well as

research and advisory services on direct investments, acquisitions and joint

ventures.

Asiya Investments Hong Kong Limited is licensed and regulated by the Securities

& Futures Commission (SFC), to carry Type 4 (Advising on Securities) and Type 9

(Asset Management) activities.

About Asiya Investments:

Asiya Investments is a premier Emerging Asia specialist investment firm,

providing a gateway for capital flows to and from growing markets in Asia.

The Firm builds paths for investment opportunities between the Arab world and

high growth emerging Asian countries. With locations in Asia and the Middle

East, it offers its clients the opportunity to co-invest in Asia through its

asset management products and direct investments. The Firm`s clients also

benefit from access to its Economic Research and Advisory Services to help them

in effectively building their investment strategies between both regions

Asiya Investments has been investing in Emerging Asia since 2005. Originally

established as the Kuwait China Investment Company, the Group provides its

shareholders and clients with the benefit of an 8 year track record of investing

in the Asian markets. Its shareholders include some of the most prominent

institutional investors and business leaders in the region including the Kuwait

Investment Authority (KIA), Alghanim Industries, HH Sultan M. bin Saud Al-Kabir

of Saudi Arabia and other private sector GCC shareholders.

The Group currently consists of the Corporate Office in Kuwait, the Investment

Advisory arm in the Dubai International Financial Centre, and the Investment

Management arm in Hong Kong.

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CDIB Capital International Corporation, the international private equity investment arm of China Development Financial, has closed an investment in Dubai-based Flemingo International. Founded in 1997, Flemingo is a global travel retail operator with a focus on emerging markets.

PRESS RELEASE

CDIB Capital International Corporation (“CDIB Capital”), the international Private Equity investment arm of China Development Financial, has successfully closed an investment in Dubai-based Flemingo International (BVI) Ltd. (“Flemingo” or the “Company”).

Founded in 1997, Flemingo (www.flemingo-intl.com) is a leading global travel retail operator with a focus on emerging markets. In addition to being the largest player and a pioneer in the duty-free industry in India, the Company has a presence across over 120 outlets in 26 countries in Asia, Africa and Europe. The Company operates across a wide range of duty-free formats including airports, seaports, borders, downtown, in-flight, diplomatic commissaries, luxury retail, travel essentials and F&B outlets, and benefits from strong partnerships with leading global suppliers.

“We are absolutely delighted to have CDIB Capital as part of the Flemingo team,” said Atul Ahuja, Global CEO of Flemingo. “With their extensive experience and capabilities in Asia, they will be an invaluable partner as we continue to expand our reach in duty-free markets in the region.”

Lionel de Saint-Exupery, President and CEO of CDIB Capital, added “Flemingo has successfully established itself as the leading franchise in the emerging markets duty-free industry through impressive organic growth as well as well-targeted acquisitions. We are truly excited to work closely with Atul Ahuja and his talented team as they continue to deliver profitable growth.”

About CDIB Capital

CDIB Capital is a leading Asian private equity investor focused on middle market growth capital transactions, with a sectoral bias for consumer/retail, media/technology, value added manufacturing and financial/business services. It is an affiliate of China Development Financial, one of the oldest and largest merchant banking groups in Greater China with over US$17bn in assets.

CDIB Capital is headquartered in Hong Kong, with principal offices in Shanghai, Taipei, Seoul and San Francisco. For more information on CDIB Capital, please visit our website at www.cdibcapital.com or send an email to [email protected].

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