Author: Angela Sormani

EndoEvolution, an innovator in automated suturing devices is closing on a $5,000,000 Series C round of venture financing led by its current investor, Spring Bay Companies. Ron Rudowsky has also been named president and chief executive officer.

PRESS RELEASE

EndoEvolution, LLC, the leading innovator in advanced automated suturing devices announced today that it is closing on a $5,000,000 Series C round of venture financing led by its current investor, Spring Bay Companies and that Ron Rudowsky has been named President and Chief Executive Officer. Founder Jerry Brecher, formerly EndoEvolution’s CEO, will remain closely involved with product development and clinical use initiatives.

“On behalf of Spring Bay, I would like to express our thanks to Jerry Brecher for his efforts and determination”
“We are extremely enthusiastic about our investment in EndoEvolution and we’re pleased to continue and increase our support for the Company,” said Spring Bay Managing Director Dan Ryan. “EndoEvolution’s Endo360° Minimally Invasive suturing devices are in production and ready for market, and so we are extremely pleased that such an outstanding industry leader as Ron Rudowsky has come on board to lead the commercialization of EndoEvolution’s outstanding technology.”

Founder Jerry Brecher said, “We could not have selected a better person for the position. Ron brings tremendous leadership, vision, and high-level experience at some of the most successful medical device start-ups in recent years, and particularly in the minimally-invasive surgery (MIS) space. I know he will lead us to incredible heights and even greater success.”

Ron Rudowsky: An Established Medical Device Industry Executive

Over the course of his 36 year career in the medical device industry, including 30 years of executive management and leadership experience, Rudowsky has led highly successful global sales and marketing efforts, product development and manufacturing, and corporate development in both major companies and notably successful medical device start-ups, including SurgRx, Novacept, and Focal.

“EndoEvolution has established itself as the technology leader in automated suturing devices,” said Rudowsky, “particularly in the field of minimally-invasive surgery, where its Endo360° MIS suturing device is the world’s most advanced product. I’m excited about the opportunity to create market leadership for this terrific technology. It’s great that our investor is so solidly behind the Company and I’m pleased that our Founder Jerry Brecher will continue as a key member of our leadership team.”

“On behalf of Spring Bay, I would like to express our thanks to Jerry Brecher for his efforts and determination,” said Ryan. “Jerry and Co-Founder and Chief Technical Officer John Meade have been instrumental in developing EndoEvolution’s world-class technology and its portfolio of automated suturing device products and establishing their clinical importance and visibility in the marketplace. We’re pleased they’re staying on with the Company.”

About EndoEvolution

EndoEvolution, LLC, the leading innovator in advanced automated suturing device technology, is a privately held medical device company introducing and developing the most advanced MIS (Minimally Invasive Surgery) automated suturing devices delivering significant clinical advantages and substantial cost-savings to hospitals. EndoEvolution’s devices, including the commercially available reusable Endo360°® MIS suturing device and in-development revolutionary 5mm EndoTransformer™ are the only automated suturing devices using curved needles that precisely replicate the traditional method used by surgeons to place stitches and tie intracorporeal knots. The only automated suturing devices available with a full complement of standard sutures, EndoEvolution’s reusable automated suturing products are easier to use with demonstrated clinical effectiveness in a broad range of surgical procedures including bariatric, colorectal, and general surgery, as well as gynecology and urogynecology. In May of 2012, Edwards Lifesciences (EW – NYSE), the world’s leading cardiac surgery company, licensed EndoEvolution’s advanced automated suturing device technology for use in cardiac surgery.

Contacts

EndoEvolution, LLC
Jerry Brecher, 978-251-8088
[email protected]

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EndoEvolution, LLC

Headquarters: North Chelmsford, Massachusetts
CEO: Jerry Brecher
Employees: 5
Organization: Private

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Incline Equity Partners, a Pittsburgh based lower middle-market private equity firm, has sold Orthotic Holdings to Frazier Healthcare. OHI, headquartered in Markham, Ontario, is a manufacturer, marketer and distributor of custom and branded medical products that treat foot, ankle and leg related conditions and diseases.

PRESS RELEASE

Incline Equity Partners, a Pittsburgh based lower middle-market private equity firm, announced today the sale of Orthotic Holdings, Inc. (OHI) to Frazier Healthcare. OHI, headquartered in Markham, Ontario, is a leading manufacturer, marketer and distributor of high quality, predominantly custom and branded medical products that treat foot, ankle and leg related conditions and diseases. The company is recognized as a North American market leader with entrenched relationships in each of its core healthcare provider sales channels through the development and deployment of its innovative foot scanning technology solution.

Incline Equity Partners’ strategic insight enabled the company to double earnings during its ownership, highlights of which include noteworthy process enhancements through the implementation of foot scanning technology, significant growth achieved by entering new sales channels and three targeted acquisitions. “We are proud of what we accomplished over the course of our four-year investment in OHI,” said Jack Glover, Partner of Incline Equity Partners. “Our synergy with the talented management team enabled us to achieve our strategic investment goals, providing the desired returns to investors and leaving the company well-positioned for future growth.”

Bruce Marrison, former Chief Executive Officer of OHI, said, “On behalf of the management team and our employees, I thank Incline Equity Partners for their collaborative partnership that acted as the catalyst for achieving our growth objectives.”

Charlie Rossetti, Senior Associate of Incline Equity Partners, added, “It has been a pleasure working with Bruce and his team over the years, and we wish them all the best in their future endeavors.”

Incline completed the investment in conjunction with MTN Capital Partners.

The sale transaction was led by Glover; Rossetti; and David Hamerling, Associate of Incline Equity Partners.

About Incline Equity Partners
Incline Equity Partners focuses on making private equity investments of $10 million to $25 million in support of leveraged buyouts, recapitalizations, and large minority financings of lower middle market growth companies with enterprise values between $25 million and $100 million across a variety of industry sectors including specialized light manufacturing, value-added distribution, and business and industrial services.

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Advent Software, a provider of software and services for the global investment management industry, has made two senior sales appointments. Jad Fares has been appointed regional sales manager for the Middle East and North Africa (MENA) region and will be based in Advent’s Dubai office. Jesper Steiness has been appointed as director of business development for EMEA.

PRESS RELEASE

Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, today announced two senior sales appointments. Jad Fares has been appointed regional sales manager for the Middle East and North Africa (MENA) region and will be based in Advent’s Dubai office. Jesper Steiness has been appointed as director of business development for EMEA. The announcement comes as Advent continues to expand its client base in EMEA across a wide range of market segments, including asset management firms, hedge funds, wealth management firms, funds of funds and family offices.
Jad Fares joins Advent as regional sales manager for the MENA region, from Bloomberg where he served as Middle East and Africa Manager for Electronic Trading and Execution. He has over ten years’ experience working for companies providing high-end solutions to markets in the Middle East and the US as well as has an extensive background with sovereign wealth funds, pension funds, global asset managers, hedge funds and investment banks. In his role, Mr. Fares will be responsible for continuing to develop Advent’s position as one of the leaders in the market in Saudi Arabia, as well as the broader MENA region.
Today more than 30 MENA-based clients use Advent’s local solutions along with its world-class investment management systems. As evidence of the company’s commitment to the region and understanding of the unique needs of clients in MENA, Advent maintains a full-service office in Dubai, which includes sales, relationship management, professional services and client support professionals.
Jesper Steiness will serve as director of business development for the EMEA region with a focus on the Luxembourg market. Mr. Steiness has over 20 years’ experience in the global fund industry in Hong Kong, Singapore and Luxembourg. He has an extensive background in fund administration, custody and asset management and has held a number of independent directorships on fund boards.
“We’re thrilled to have Jad Fares and Jesper Steiness on board as part of the Advent team as we continue to strengthen our position in the region by adding more clients and developing a larger footprint with existing clients,” said Håkan Valberg, Senior Vice President and General Manager, Advent Software EMEA. “They bring an impressive background that will be a valuable asset in supporting Advent’s goals of eliminating boundaries between people, information and systems. Our growth in the region is the result of investments in the local solutions as well as Advent’s service delivery. Our new appointments reinforce our strong commitment to building long-term relationships with our clients throughout Europe and the Middle East.”
Advent, the Advent logo and Advent Software are registered trademarks of Advent Software, Inc. All other company names or marks mentioned herein are those of their respective owners.
About Advent
Advent Software, Inc. (www.advent.com), a global firm, has provided trusted solutions to the world’s financial professionals since 1983. Advent’s proven solutions can increase operational efficiency, reduce risk, and eliminate the boundaries between systems, information and people so you can focus on what you do best. With more than 4,500 client firms in over 60 countries, Advent has established itself as a leading provider of mission-critical solutions to meet the demands of investment management operations around the world. Advent is the only financial services software company to be awarded the Service Capability and Performance certification for being a world-class support and services organization.

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Max Niederhofer has joined European venture capital firm Sunstone Capital as a partner in its Copenhagen office. He joins Sunstone Capital from Accel Partners, where he was a Vice President in the firm’s London office, focusing on investments in internet and mobile services.

PRESS RELEASE

Sunstone Capital, a European venture capital firm, today announced that Max Niederhofer has joined the firm as a Partner in its Copenhagen office. In this role, he will focus on early stage technology investments and support existing companies in Sunstone’s portfolio.

Max has spent the last 11 years working with early stage businesses in Europe and the United States as an investor and entrepreneur. He joins Sunstone Capital from Accel Partners, where he was a Vice President in the firm’s London office, focusing on investments in internet and mobile services. Prior to joining Accel, Max started and sold Qwerly, a data marketing business, and was a Principal at Atlas Venture, where he worked with companies such as DailyMotion, Seatwave and Moo. His personal investments include Last.fm (sold to CBS), OneFineStay, Skimlinks, Boticca, Fliptop and Sofar Sounds.

“We are very excited to have Max join our team. As entrepreneurs ourselves, we are aggressively expanding Sunstone from our Nordic roots to all European markets. Max’s background and experience strengthen our strategy of supporting European entrepreneurs at the earliest stages of company building,” said Jimmy Fussing Nielsen, Managing Partner at Sunstone Capital.

“I am thrilled to be joining a partnership that allows me to be an investor as well as an entrepreneur,” said Niederhofer. “At Sunstone, we are building Europe’s premier, early-stage, West Coast-style venture capital firm. We want to be faster, more accessible and better to deal with than anyone else in the market.”

Max was born in Hamburg and has lived in Germany, Canada, the UK, France, India and the US. He holds a doctorate in management science from WHU in Germany and was recently named “Best Startup Advisor/Mentor 2012” at startup awards The Europas in Berlin.

About Sunstone Capital
Founded in 2007, Sunstone Capital is a leading European early-stage technology and life sciences venture capital firm. The partnership manages around EUR 700 million in committed capital across seven funds. The technology portfolio includes companies such as Amen, Gidsy, Issuu, Layar, Neo Technology, Paymill, Podio (sold to Citrix Systems) and Prezi.

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VTB Capital has acquired a minority stake in National Satellite Company, a Russian satellite TV operator. VTB Capital as a global investment bank and a financial investor will help Tricolor TV to increase value of its assets and get prepared for an IPO in few years.

PRESS RELEASE

VTB Capital announces today the acquisition of a minority stake in National Satellite Company, the largest Russian satellite TV operator operating under “Tricolor TV” brand.

With its subscriber base over 12.4 million (registered subscribers) including paying subscribers of 9.12 million as of March 25, 2013, Tricolor TV is the leader of Russia’s pay TV market and one of the largest pay TV providers in Europe.

VTB Capital as a global investment bank and a financial investor will help Tricolor TV to increase value of its assets and get prepared for an IPO in few years.

Tim Demchenko, Global Head of Private Equity and Special Situations at VTB Capital, noted: “Investment in Tricolor TV is one more step in implementing VTB Capital’s private equity strategy to invest in consumer-related industries in Russia. We believe its strong market position and countrywide footprint will enable the company to capitalize on opportunities in rapidly growing Russian pay-TV market and successfully complete IPO in the next few years”.

Alexander Makarov, CEO of National Satellite Company, said: “”Partnership with VTB Group is a strategic step which will allow the Company to get prepared for the next level of Company’s development.”

Additional information:

Tricolor TV is Russia’s largest satellite TV operator that has been broadcasting its digital channel package in the European part of Russia as well as the Siberian, Ural and Far East regions. According to British market research company IHS Screen Digest, Tricolor TV ranked first in the world for the pace of growth of subscriber base in 2012, it is the most popular Pay TV operator in Europe and is one of the five Pay TV world leaders. Tricolor TV holds the third position in the ranking of the world’s largest television operators according to the number of subscribers.

Press Office

Vadim Bely
[email protected]

Julia Govorun
[email protected]

Alexandra Shablovskaya
[email protected]

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AXA Private Equity is selling Duplomatic Oleodinamica to Progressiosgr. The PE business will sell its majority 88 percent stake in Duplomatic Oleodinamica.

Reuters – AXA Private Equity: * AXA Private Equity sells Duplomatic Oleodinamica to Progressiosgr * AXA Private Equity to sell its majority (88 percent) stake in Duplomatic

Oleodinamica.

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Adknowledge has acquired Montipay, doing business as SocialWeekend Labs, which operates a portfolio of Facebook and mobile apps and has built tools to help app developers acquire, engage and retain users. SocialWeekend, which was founded by Shane Walker, Andrew Tso and Fariz Chowdhury, was backed by Great Oaks Venture Capital, Brad Harrison Ventures, and a number of prominent angel investors.

PRESS RELEASE

Adknowledge announced today that it has acquired Montipay, Inc., doing business as SocialWeekend Labs, which operates a portfolio of popular Facebook and mobile apps and has built robust tools to help app developers acquire, engage and retain users.
SocialWeekend Labs is attractive for both its technology, which helps developers easily add powerful Facebook and mobile marketing features to their apps, and its incredible roster of talent. The company has one of the industry’s most experienced social media user acquisition teams, which has helped build some of the largest social applications and networks in the world, including Hi5.
“SocialWeekend has a first-class team of engineers with proven user acquisition expertise,” said Ryan Stephens, general manager of Adknowledge’s Apps business. “They can help us take our already-robust marketing suite for app developers to an entirely new level.”
The companies seek to combine SocialWeekend Labs’ app promotion technologies with Adknowledge’s capabilities in ad monetization and paid user acquisition to build a revolutionary toolset for app developers to grow their audiences and maximize revenue. Adknowledge, the only company Facebook has designated as both an Ad Provider and Strategic Preferred Marketing Developer via its AdParlor unit, is eager to offer additional tools that leverage the Facebook platform for app developers.
“Our companies together possess an unrivaled set of tools for Facebook and mobile app developers to maximize revenue and acquire more users cost-effectively,” said Shane Walker, founder of SocialWeekend Labs. “We’re really excited about the combination.”
SocialWeekend, which was founded by Shane Walker, Andrew Tso and Fariz Chowdhury, was backed by Great Oaks Venture Capital, Brad Harrison Ventures, and a number of prominent angel investors. The entire SocialWeekend team, already based in San Francisco, will join Adknowledge’s office there.
About Adknowledge
Adknowledge is a leading online network that offers unique ad formats, data analysis, targeting algorithms, and creative approaches, providing advertisers with quality leads from hard-to-reach places on the Web across multiple channels, including social networks, display, games, mobile, apps, and email. With hundreds of employees located throughout North America, plus growing offices in Europe and Asia, Adknowledge aims to set the standard in optimizing online advertiser ROI.

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Science Inc, a technology studio that creates, acquires and scales successful digital businesses, has appointed Jason Rapp as a managing director. In his new role, Rapp will find and develop new opportunities for the science portfolio and offer strategic counsel to the firm and its existing portfolio companies as they mature and grow.

PRESS RELEASE

Science Inc., the technology studio that creates, acquires and scales successful digital businesses, announces that Jason Rapp has joined as Managing Director.

In his new role, Mr. Rapp will find and develop new opportunities for the Science portfolio and offer strategic counsel to the firm and its existing portfolio companies as they mature and grow.

“I’m thrilled to team up with Mike Jones, whom I’ve known and admired professionally for years,” said Mr. Rapp. “He and the Science team have taken an innovative approach to building great companies. I’m excited to join them as they grow Science into a truly transformative enterprise and a powerful force within the startup ecosystem.”

“Jason is an accomplished digital media executive, known and respected in Silicon Valley, New York and here in Los Angeles. He’s a great example of the caliber of talent we want at Science. He is ideally experienced to help us build our existing businesses and to launch and acquire new ones. I’m ecstatic to be working with him,” noted Michael Jones, CEO of Science Inc.

Mr. Rapp is an executive, investor and advisor to digital media and technology companies. He has consulted start-up companies on fundraising, M&A, strategy and business development and advised larger companies with digital market entry.

Prior to joining Science, Mr. Rapp was the president and member of the board of directors of Mahalo.com, the educational app and video company. From 2006-2009, he was a senior executive in Barry Diller’s IAC corporation (Nasdaq: IACI) where he served as CEO of Gifts.com and ran IAC’s mergers and acquisitions operation in New York.

Prior to his work at IAC, Mr. Rapp was an executive at The New York Times Company, serving as Associate General Manager and head of operations for NYTimes.com, the leading newspaper web site. He also held management positions in operations, strategy and corporate development.

He is a member of the board of directors of Blip Networks, and an advisor to several dynamic start-ups.

About Science
Based in Santa Monica, Calif., Science Inc. is a technology studio that creates, acquires and scales successful digital businesses by bringing together the best ideas, talent, resources and financing through a centralized platform. Science focuses on three things: developing new businesses, providing emerging startups with operational strategy and capital and transforming later-stage Internet ventures with new talent and innovation. The company has more than 13 investments with dynamic companies such as DollarShaveClub, DogVacay, Ellie, Uncovet and others.

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GC Capital has acquired a majority stake in Med-Tech Resource. Med-Tech supplies EMTs, fire departments, police departments and the military with critical emergency medical supplies. Financial terms of the transaction were not disclosed.

PRESS RELEASE

GC Capital, a private investment firm based in San Francisco, announced today that it has acquired a majority stake in Med-Tech Resource. Med-Tech supplies EMTs, fire departments, police departments and the military with critical emergency medical supplies. Michael Modrich, the founder of Med-Tech Resource, will remain as President; Modrich’s father and business partner, Gene Modrich, is retiring from the business. Financial terms of the transaction were not disclosed.

Founded in 1996 in Eugene, Oregon, Med-Tech is the premier designer, manufacturer and distributor of first-responder emergency medical equipment and supplies. The Company offers over 20,000 high-quality products to the emergency medical market. Med-Tech sells these products through its dedicated sales team and website.

Michael Modrich, President and Founder of Med-Tech said, “I am pleased to have GC Capital as my new partner. They share our vision of growing Med-Tech while maintaining the highest levels of customer satisfaction. Their operational and financial expertise will help us expand our product portfolio as we continue to serve our customers with high-quality products and service.”

Greg Chiate, Partner at GC Capital stated, “Michael, along with the rest of his management team, built a strong and growing base business in the emergency medical supplies market. We are excited to partner with Med-Tech both financially and operationally to support their continued growth in this market as well as penetration into adjacent medical fields.”

About Med-Tech Resource
Med-Tech Resource is a designer, manufacturer and distributor of medical supplies and equipment to EMTs, fire departments, police departments and the military. The Company is dedicated to providing quality and cost-effective emergency medical equipment and supplies.

Med-Tech’s mission is to provide the highest level of customer satisfaction through innovative, high-quality products that improve health care delivery for caregivers and those they serve. With personalized Account Management, dedicated Customer Service, dependable Product Quality, and continued growth of Product Lines, the Company focuses on exceeding the demands of its customers.

www.gomed-tech.com

About GC Capital
GC Capital is a San Francisco-based private investment firm focused exclusively on acquisitions, recapitalizations and equity financings of lower middle market companies. The firm’s investments provide liquidity for owners, capital for growth and acquisitions, and a partnership to achieve equity appreciation.

GC Capital brings strategic, operational, and financial expertise to each investment to help its partners maximize their potential. The company’s two senior partners collectively have 40+ years of investing, acquisition and operational experience and have made equity investments totaling over $900 million. The partners’ transaction experience, diverse backgrounds, and track record of value creation offer a unique strategic partnering opportunity for founders and business owners interested in selling or recapitalizing their company.

The firm is privately funded utilizing its partners’ capital; it does not require outside equity capital to consummate transactions. GC Capital invests in a wide array of industries including healthcare, manufacturing, business services and specialty distributors, targeting companies with EBITDA of at least $1 million.

For more information contact:

Greg Chiate
415-547-0033
[email protected]

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Tonka Bay Equity Partners has acquired CORWIL Technology Corporation. Tonka Bay partnered with investor/CEO and industry veteran Matt Bergeron and co-founders Rob Corrao and Finn Wilhelmsen in this transaction.

PRESS RELEASE

Tonka Bay Equity Partners LLC (“Tonka Bay”) announced the acquisition of CORWIL Technology Corporation (“CORWIL”). Tonka Bay partnered with Investor/CEO and industry veteran Matt Bergeron and co-founders Rob Corrao and Finn Wilhelmsen in this transaction. Mr. Bergeron has been appointed President and a member of the board of directors of CORWIL. The acquisition of CORWIL is Tonka Bay’s fifth platform company investment in Fund III which closed in November 2011 with $150 million in available capital.

CORWIL is based in Milpitas, California, and is a leading provider of assembly and test services for integrated circuits. Founded in 1990, CORWIL has developed into a strategic manufacturing partner to its customers in high reliability market segments including medical devices and military/aerospace.

Rob Corrao, co-founder and member of the CORWIL Board, stated, “I’m excited for the next phase of CORWIL’s profitable growth. Tonka Bay is the right partner to help develop and execute our strategy to take CORWIL forward as we continue strengthening our quality, service offering and engineering capabilities.”

Molly Simmons, Principal of Tonka Bay and a CORWIL Board member added “We are thrilled with the opportunity to invest in CORWIL and to partner with Matt Bergeron and the company’s management team. CORWIL has a strong defensible niche in the on-shore assembly and test marketplace, with unique capabilities and deep customer relationships.”

About Tonka Bay Equity Partners
Based in Minnetonka, MN, Tonka Bay Equity Partners is a private equity firm that acquires and invests in growth-oriented businesses in the highly-engineered manufacturing, business services and value-added distribution sectors.

About CORWIL
CORWIL provides high quality integrated circuit assembly and test services to the medical, military and aerospace, OEM electronics and semiconductor industries. CORWIL is the premier provider of wafer thinning and dicing, optical inspection, full assembly and testing of integrated circuits and complex modules.

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MidOcean Partners has made a proposal to the board of directors of EDAC Technologies Corporation to acquire all of the outstanding shares of EDAC for $18.25 per share in cash. The proposal, which is being made jointly with a large North American pension plan investment manager, is not subject to a financing condition.

PRESS RELEASE

MidOcean Partners (through one of its affiliates), a leading private equity firm, today announced that it has made a proposal to the board of directors of EDAC Technologies Corporation (Nasdaq: EDAC) to acquire all of the outstanding shares of EDAC for $18.25 per share in cash.

The proposed transaction represents a $0.50 per share premium to the price offered by GB Aero Engine LLC, an affiliate of the Greenbriar Equity Group, in a transaction announced on March 18, 2013. It also represents a 23.2% premium to the average closing per share price of EDAC over the 30 trading days ending March 15, 2013 which precede the announcement of the deal with Greenbriar.

The proposal, which is being made jointly with a large North American pension plan investment manager, is not subject to a financing condition.

In its letter to the board of directors of EDAC, MidOcean and its co-investor have stated that they would be prepared to enter into an agreement to acquire EDAC on terms that are substantially similar to, and in the aggregate at least as favorable to EDAC as, those in EDAC’s existing merger agreement with Greenbriar, including structuring the transaction as a cash tender offer.

“We have full confidence that the board of directors of EDAC Technologies will see the merits and strength of our proposal, and determine that it is a ‘Superior Proposal’ under their existing merger agreement with Greenbriar. We look forward to a constructive dialog with the board and to quickly reaching an agreement to acquire the company.”

Gibson, Dunn & Crutcher LLP is acting as legal counsel to MidOcean and its co-investor.

About MidOcean Partners
MidOcean Partners is a premier private equity firm headquartered in New York focused on the middle market. MidOcean is committed to investing in high quality companies with stable market positions and multiple opportunities for growth. Targeted sectors include consumer, business services, and industrial services. MidOcean utilizes a broad foundation of expertise in its focus industries to create value for its investors and partners.

This press release does not constitute and should not be construed as an offer to purchase or a solicitation of an offer to sell any securities of EDAC Technologies Corporation. There can be no assurance that the proposal to the board of directors of EDAC Technologies Corporation will result in a definitive agreement with EDAC Technologies Corporation with respect to any transaction, or of the timing or terms of any such agreement.

Contact:
MidOcean Partners
Chris Tofalli
Chris Tofalli Public Relations, LLC
[email protected]
(914) 834-4334
# # #

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Simon Clark is to take over as chairman of The British Private Equity & Venture Capital Association (BVCA) on 2 April 2013. Clark is managing partner at Fidelity Growth Partners Europe.

PRESS RELEASE

The British Private Equity & Venture Capital Association (BVCA) is pleased to announce that Simon Clark is to take over as Chairman on 2 April 2013.

Mr Clark is Managing Partner at Fidelity Growth Partners Europe. Mr Clark said:

“I am genuinely delighted to take on the Chairmanship of the BVCA because I firmly believe private equity and venture capital have a huge contribution to make in driving the British economy forward.

During my year in the role I aim to focus on three core areas. Firstly, attracting capital to our industry from global investors by making a robust case for the asset class; secondly, ensuring we remain actively and constructively engaged in the European regulatory debate, building alliances and partnerships with fellow institutions; and thirdly, demonstrating how private equity and venture capital skills can be applied to solve social problems.

Our industry has a tremendous opportunity to make a real difference to both the economy and society at large. We need to tell that story and I look forward to helping the BVCA lead the way.”

Mark Florman, Chief Executive of the BVCA, said:

“Simon has an unwavering belief in the positive contribution private equity and venture capital can make to business and society. He has been involved with the BVCA for many years and I am delighted he is taking on the role of chairman at a time when the industry is so well-placed to demonstrate its worth to the economy. I look forward to continuing our work together.

I also wish to thank our out-going chairman, Robert Easton, for all his hard work over the past 12 months. His admirable dedication to finding solutions to the UK’s growth problems found a fitting testament in The Growth Initiative, a BVCA publication which provided a framework for encouraging innovation and investment.”

Mr Clark succeeds Robert Easton, a Managing Director and Co-Head of Carlyle Europe Technology Partners. Tim Farazmand, a Managing Director, at LDC has been appointed vice-chairman and will take over as chairman in April 2014.

Mr Clark is available for interviews.

FOR FURTHER INFORMATION PLEASE CONTACT
Tom Allchorne, BVCA, +44 (0)20 7420 1807, [email protected]
Notes to editors:
1. Simon Clark is Managing Partner at Fidelity Growth Partners Europe where he focuses on investments in software, healthcare IT and data services. He is currently on the Board of Directors of Asset Control, Neverfail, and Qumas and is a board observer at GoodData. Prior to joining Fidelity in 1999, Simon was Chief Financial Officer and General Manager, International of TheStreet.com, (NASDAQ: TSCM) a leading financial news website. In this role he managed two rounds of venture fundraising, a strategic investment and the IPO process and was responsible for the company’s IT infrastructure and its international operations. He spent over seven years at Reuters in various finance, IT and general management positions and, in 1995, established and ran Reuters.com, the company’s first website. He also built Alert.Net, an online information service for journalists and aid workers in conflict zones. He qualified as a Chartered Accountant at Price Waterhouse and has previously served as Chairman of the BVCA’s Venture Capital Committee. Simon holds an MA in Politics, Philosophy and Economics from Wadham College, Oxford
2. The British Private Equity & Venture Capital Association (BVCA) is the industry body for the UK private equity and venture capital industry. The BVCA has over 500 member firms, representing the vast majority of UK-based private equity and venture capital firms and advisors.

Tom Allchorne |Public Relations Manager
BVCA – The British Private Equity and Venture Capital Association | Brettenham House | Lancaster Place | London | WC2E 7EN | +44(0)20 7420 1807 |

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GSO Capital Partners LP, the credit arm of The Blackstone Group is providing $150 million as part of a land banking arrangement to Beazer Homes USA. Funds managed by GSO will acquire new land parcels identified by Beazer Homes.

PRESS RELEASE

Beazer Homes USA, Inc. (the “Company”) (NYSE:BZH) and GSO Capital Partners LP (“GSO”), the credit arm of The Blackstone Group (NYSE:BX), announced today that GSO will make available up to $150 million as part of a land banking arrangement. Funds managed by GSO will acquire new land parcels identified by Beazer Homes and option finished lots on a pre-determined takedown schedule to the Company.

“I’m very pleased that GSO has agreed to make available to the Company additional capital to enhance our land acquisition and development activities,” said Allan Merrill, CEO of Beazer Homes. “Expanding our active community count beginning in fiscal 2014 is a key part of our path-to-profitability plan and will enable us to more fully participate in the strengthening housing market.”

Doug Ostrover, Senior Managing Director of Blackstone and Co-Founder of GSO, said, “As the housing recovery continues to gain momentum, we are excited to partner with Beazer and extend our land banking business. GSO has a long history of working with Beazer, and we have great confidence that the management team is positioning the company well in order to capitalize on the recovery and regain profitability. We look at this incremental capital as just the first step in what we hope to be many successful future ventures with Beazer.”

ABOUT BEAZER HOMES:

Headquartered in Atlanta, Beazer Homes is one of the country’s 10 largest single-family homebuilders. The Company’s homes meet or exceed the benchmark for energy-efficient home construction as established by ENERGY STAR® and are designed with flexible floorplan options to meet the personal preferences and lifestyles of its buyers. In addition, the Company is committed to providing a range of preferred lender choices to facilitate transparent competition between lenders and enhanced customer service. The Company offers homes in 16 states, including Arizona, California, Delaware, Florida, Georgia, Indiana, Maryland, Nevada, New Jersey, New York, North Carolina, Pennsylvania, South Carolina, Tennessee, Texas and Virginia. Beazer Homes is listed on the New York Stock Exchange under the ticker symbol “BZH.” For more info visit Beazer.com, or check out Beazer on Facebook and Twitter.

ABOUT GSO CAPITAL PARTNERS LP:

GSO Capital Partners LP is the global credit platform of The Blackstone Group L.P. (NYSE:BX). GSO, together with its affiliates, has approximately $55 billion of assets currently under management and is one of the largest credit-oriented alternative managers in the world and a major participant in the leveraged finance marketplace. GSO seeks to generate superior risk-adjusted returns in its credit business by investing in a broad array of strategies including mezzanine, distressed investing leveraged loans and other special situation strategies.

This press release contains forward-looking statements. These forward-looking statements represent our expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of our control, that could cause actual results to differ materially from the results discussed in the forward-looking statements, including, among other things, (i) economic changes nationally or in local markets, including changes in consumer confidence, changes in the level of housing starts, declines in employment levels, inflation and changes in the demand and prices of new homes and resale homes in the market; (ii) a slower economic rebound than anticipated, coupled with persistently high unemployment and additional foreclosures; (iii) estimates related to homes to be delivered in the future (backlog) are imprecise as they are subject to various cancellation risks which cannot be fully controlled; (iv) a substantial increase in mortgage interest rates, increased disruption in the availability of mortgage financing or a change in tax laws regarding the deductibility of mortgage interest; (v) factors affecting margins such as decreased land values underlying lot option agreements, increased land development costs on communities under development or delays or difficulties in implementing initiatives to reduce production and overhead cost structure; (vi) our cost of and ability to access capital and otherwise meet our ongoing liquidity needs including the impact of any downgrades of our credit ratings or reductions in our tangible net worth or liquidity levels; (vii) our ability to comply with covenants in our debt agreements or satisfy such obligations through repayment or refinancing; (viii) increased competition or delays in reacting to changing consumer preference in home design; (ix) shortages of or increased prices for labor, land or raw materials used in housing production; (x) additional asset impairment charges or writedowns; (xi) the cost and availability of insurance and surety bonds; (xii) delays in land development or home construction resulting from adverse weather conditions; (xiii) potential delays or increased costs in obtaining necessary permits and possible penalties for failure to comply with laws, regulations and governmental policies; (xiv) effects of changes in accounting policies, standards, guidelines or principles; or (xv) terrorist acts, acts of war and other factors over which the Company has little or no control. Under the terms of the land banking arrangement, GSO retains the right to approve the terms of each land parcel acquisition. Accordingly, there can be no assurance that all or any portion of the $150 million described herein will be funded.

Any forward-looking statement speaks only as of the date on which such statement is made, and, except as required by law, we do not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time and it is not possible for management to predict all such factors.

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Tommy G. Thompson, who served four terms as Governor of Wisconsin and served as the Secretary of Health and Human Services under president George W. Bush, has accepted an appointment as chairman of the Board of Poliwogg Holdings effective immediately. Poliwogg is developing an online marketplace that matches emerging privately held companies with individual accredited investors.

PRESS RELEASE

Tommy G. Thompson, who
served four terms as Governor of Wisconsin and served as the Secretary
of Health and Human Services under President George W. Bush, has
accepted an appointment as Chairman of the Board of Poliwogg Holdings,
Inc. effective immediately. Gregory C. Simon, the CEO of Poliwogg,
announced the appointment of Gov. Thompson today:

“Governor Thompson brings a wealth of experience to the Poliwogg team,”
said Simon, who collaborated with Thompson on global health issues as
head of FasterCures. “Governor Thompson is one of the nation’s leading
advocates for the health and welfare of all Americans and we are
gratified that he has agreed to lead our Board. All of us at Poliwogg
look forward to working with Governor Thompson to develop innovative
solutions to the healthcare and economic challenges facing American
families, businesses, communities, states and the nation as a whole.”

Tommy Thompson has devoted much of his life to public service. He was
first elected to the Wisconsin State Assembly in 1966 and then served
as Wisconsin’s first four-term Governor from 1987-2001. He then joined
the U.S. Cabinet as Secretary of Health and Human Services, holding the
seat from 2001-2005. After leaving government service he became a
senior partner at the law firm of Akin, Gump, Strauss, Hauer & Feld LLP
from 2005 through early 2012. From 2005 to 2009 Governor Thompson was a
senior advisor at the consulting firm Deloitte and Touche USA LLP and
was the founding independent chairman of the Deloitte Center for Health
Solutions. Governor Thompson currently serves on the Board of Directors
of the following public companies: CareView Communications, Inc., as
Chairman of the Board; Centene Corporation; C.R. Bard, Inc.; United
Therapeutics Corporation; Cytori Therapeutics, Inc.; and,
TherapeuticsMD, Inc.

“I am pleased to be working with Greg Simon again, and look forward to
assisting him and Poliwogg founder Jeff Feldman on the launch of one of
the most important developments in capital formation in the past 80
years,” says Thompson. “I believe that the JOBS Act, which creates the
ability for accredited investors to participate directly in the private
economy and crowdfunding, will provide the fuel to fund the innovation
economy and will put America back to work and drive a new prosperity.”

Poliwogg is developing an online marketplace that matches emerging
privately held companies with individual accredited investors. It will
be an introducing broker/dealer as envisioned by the JOBS Act.
Poliwogg’s crowdfunding marketplace will go live once the SEC adopts
funding portal rules and approves regulations governing this new and
exciting means of capital formation for small- and mid-sized private
companies. Poliwogg will initially focus its efforts on investment
opportunities with innovative companies in healthcare and the life
sciences, community-based businesses and projects, and in portfolios of
high-yielding investment grade assets.

Private investment marketing and other broker-dealer services are
currently offered through a partnership with SDDCO Brokerage Advisors,
LLC, member FINRA/SIPC (“SDDCO-BA”). Poliwogg and its affiliates are
independent and unaffiliated with SDDCO-BA. All such services offered
by Poliwogg-associated persons are done so in their capacities as
registered representatives of SDDCO-BA.

CONTACT: Gregory C. Simon, CEO
(212) 370-0535
[email protected]

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Global residential solar business Sungevity has raised over $1 million for its nonprofit partners through the company’s Sungevity.org partner initiative. Through the program, over 100 nonprofit organizations including Sierra Club, The Wilderness Society and most recently, National Wildlife Federation and National Parks Conservation Association, have all partnered with Sungevity to offer their members a tangible way to fight climate change and save money by adopting solar power as the primary electricity source for their homes.

PRESS RELEASE

Sungevity®, Inc., a recognized leader in the global residential solar market, today announced it has raised over $1 million for its nonprofit partners through the company’s Sungevity.org partner initiative. Through the program, over 100 nonprofit organizations including Sierra Club, The Wilderness Society and most recently, National Wildlife Federation and National Parks Conservation Association, have all partnered with Sungevity to offer their members a simple and tangible way to fight climate change and save money by adopting solar power as the primary electricity source for their homes. Sungevity provides referral bonuses for each nonprofit member who goes solar through the program, which has helped these organizations gain a new funding stream. Sungevity co-founder Danny Kennedy launched the program in 2010 with Academy Award-winning actress and environmental activist Helen Hunt, as a way to simultaneously help scale his business and raise much-needed funds for social change organizations.

“The Sungevity.org program has helped grow our business by keeping us connected to our roots as a mission-driven, social change company,” said Danny Kennedy, Sungevity co-founder and lifelong social change activist. “Our results show that the ‘market’ can support the ‘movement’ and vice versa.”
“It’s amazing how far Sungevity.org has come since we launched it,” said Helen Hunt. “I love that a company like Sungevity can spread solar power to rooftops across America and raise over one million dollars for nonprofits at the same time.”

Sungevity.org’s funding has come at a vital time for the nonprofit sector hit hard by the most profound economic downturn since the Great Depression. Studies show that most nonprofits have been in difficult financial straits, and many report that the decline in the U.S. economy continues to impact their operations. At a time when the financial future of many nonprofits remains uncertain, Sungevity has injected over one million dollars of unrestricted funds to support its partners’ principal operations. While the financial windfall is significant, the impact extends beyond economic: by offering solar power to their members, these organizations have offset over 85,000 metric tons of carbon dioxide emissions, the equivalent effect of planting over two million trees.

“The Sungevity.org program provides our members with another way to reduce their carbon footprint and also provides direct financial support for our work – everyone wins,” said Larry Schweiger, President and CEO of National Wildlife Federation.

“We greatly appreciate the generous donations Sungevity makes to The Wilderness Society to support our mission of protecting our nation’s wild places,” said Jamie Williams, President of The Wilderness Society. “Sungevity also offers a wonderful opportunity for our members to act on their beliefs and generate renewable energy from their own homes.”

Sungevity.org is a concrete extension of the company’s vision – Solar for Universal Need, or “SFUN” – which strives to address climate change through the mass adoption of solar power. The program also serves as an integral component of Sungevity’s Solar Social Strategy, which has helped the company effectively lower the residential solar sector’s common hurdle of high-cost customer acquisition.

“Sungevity has always been a standout leader in clean-tech and by partnering in the Sungevity.org program, we’ve demonstrated that nonprofit and for-profit organizations can push forward with our separate initiatives and achieve success for our common goals,” said Michael Brune, Executive Director of Sierra Club.

ABOUT SUNGEVITY

Sungevity’s online iQuote process and solar lease program make it easy and affordable for homeowners to benefit from solar power. Leveraging web-based solar analytics and satellite imagery, Sungevity can deliver a firm quote within 24 hours without a home visit and provide homeowners with immediate savings on their electricity bills. This affordability and ease of use, combined with Sungevity’s Solar Social Strategy, is all part of Sungevity’s mission to accelerate solar into the mainstream. Aligned with Sungevity’s mission and values, the company is recognized as a B Corp, a new type of corporation that harnesses the power of private enterprise to create public benefit for all stakeholders, not just shareholders. Sungevity was recognized by B Corp as one of the “Best for the World” companies for using the power of business to solve social and environmental problems.

# # #
CONTACT:
John Ordona
Sungevity, Inc.
(510) 496-5673
[email protected]

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Oracle Corporation is to acquire Tekelec Global, a portfolio company of Siris Capital Group. Terms of the transaction were not disclosed and closing is subject to certain closing conditions and regulatory approvals. Tekelec is a provider of network signaling, policy control, and subscriber data management solutions to both wireless and wireline service providers.

PRESS RELEASE

On March 25, 2013, Tekelec Global, Inc. (“Tekelec” or the “Company”), a portfolio company of Siris Capital Group, LLC (“Siris”), announced that it has signed a definitive agreement pursuant to which Oracle Corporation (“Oracle”) will acquire the Company. Terms of the transaction were not disclosed and closing is subject to certain closing conditions and regulatory approvals.

Tekelec is a leading provider of network signaling, policy control, and subscriber data management solutions to both wireless and wireline service providers. The Company’s intelligent mobile broadband solutions enable service providers to manage and monetize mobile data and voice services in LTE, IMS and 3G networks.

The original “take-private” acquisition of Tekelec in January 2012, by a consortium led by Siris, including affiliates of Comvest Partners, funds and accounts managed by GSO Capital Partners LP, Sankaty Advisors LLC, ZelnickMedia and other Siris limited partners and affiliates, was the result of a targeted search led by the Siris principals and Executive Partners – Merle Gilmore, Roderick Randall and Richard Mace.

Siris’ investment thesis was focused on the explosive growth in mobile data traffic and identifying telecommunications and technology businesses that were making the transition from providing technology for the existing 2G/3G networks to the higher growth 4G LTE networks. During Siris’ ownership, the Company has successfully implemented operational and structural improvements, including disposing of non-core assets, refocused the Company’s R&D and strategic roadmap, and increased the Company’s visibility and industry profile in the dynamic and expanding 4G LTE Diameter signaling network ecosystem.

Goldman, Sachs & Co. and Evercore Partners are acting as financial advisors and Simpson Thacher & Bartlett LLP and Smith Anderson are acting as legal counsel to Tekelec.

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Aligned Asset Managers, a portfolio company of private equity firm GTCR, has appointed R. Barney Walker the director of institutional investments. Walker will drive Aligned’s distribution and client service activities for its member firms. He has extensive industry contacts in the institutional marketplace and will also assist Aligned in sourcing new potential investments.

PRESS RELEASE

Aligned Asset Managers, LLC (“Aligned”), a portfolio company of leading private equity firm GTCR, announced today that it named Mr. R. Barney Walker the Director of Institutional Investments. Mr. Walker will drive Aligned’s distribution and client service activities for its member firms. He is focused on implementing Aligned’s strategic marketing plan across all institutional and retail distribution channels. Aligned expects to add additional resources to the distribution activity as it increases its member firms and products. Mr. Walker has extensive industry contacts in the institutional marketplace and will also assist Aligned in sourcing new potential investments.

Mr. Walker was previously a Senior Vice President and Director of Institutional Investments at Artio Global Management LLC, the former US institutional asset management arm of Julius Baer Holdings, where he joined in 2002 to help build an institutional asset management business. Artio Global Investors Inc. managed over $70 billion at its peak on behalf of its clients. Prior to Artio, Mr. Walker was a Senior New Business/Client Service Manager at Ark Asset Management LLC, where he started his career in 1996. He has a BS in Business Administration from Boston College.

About Aligned Asset Managers

Aligned Asset Managers is building a leading multi-strategy asset management platform through substantial equity investments in firms across alternative and traditional asset classes. Aligned provides managers with many options for realizing liquidity, re-equitizing their business and enhancing distribution capabilities while maintaining a stake in the upside growth of the firm. Aligned completed its first investment in The Townsend Group in late 2011.

About The Townsend Group

The Townsend Group (“Townsend”) is a global real asset investment advisory firm providing discretionary and non-discretionary investment solutions to more than 90 clients and $115 billion of assets. Townsend’s investment solutions range from strategic advisory services to fully customized discretionary segregated mandates, including primary funds, co-investments and secondaries. With offices in Cleveland, San Francisco, London and Hong Kong, Townsend is able to provide its clients global perspective and locally sourced execution in the real estate, infrastructure, timber and agriculture asset classes.

About GTCR

Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Financial Services & Technology, Healthcare and Information Services & Technology industries. The Chicago-based firm pioneered The Leaders Strategy(TM) – finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth. Since its inception, GTCR has invested more than $10 billion in over 200 companies. For more information, please visit www.gtcr.com.

For more information about Aligned or Townsend, please contact Barney Walker at 203-504-3204 or [email protected].

SOURCE: Aligned Asset Managers, LLC

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GMT Communications Partners‘ portfolio company, MeetingZone, has completed its third bolt-on acquisition in eighteen months. MeetingZone, a global audio/web conferencing and collaboration services provider, has acquired Atia Communications, a UK based provider of Unified Communications (UC) services and a Microsoft Lync 2010 accredited specialist.

PRESS RELEASE

GMT is pleased to announce that its portfolio company, MeetingZone, has completed its third bolt-on acquisition in eighteen months.
MeetingZone, the independent global audio/web conferencing and collaboration services provider, has acquired Atia Communications, the UK based market-leading provider of Unified Communications (UC) services and a Microsoft Lync 2010 accredited specialist.
The acquisition enables MeetingZone to build on its portfolio of products and services to address the rapidly growing UC market with Atia’s Microsoft Lync solutions, in addition to its current range of Cisco WebEx services.
UC intelligently combines voice, video, instant messaging, mobile voice and data and other multimedia services in a bespoke way, tailored to individual business needs. Combined with MeetingZone’s existing services, these exciting technologies provide greater flexibility in an efficient and cost-effective way and can revolutionise the way businesses operate.
Initially Atia will retain its own identity and brand, but both MeetingZone and Atia will actively promote each other’s complementary services.
GMT acquired MeetingZone in July 2011. In late 2011, MeetingZone completed its first bolt-on acquisition, acquiring Unified Communications Sweden AB, a Stockholm based conferencing provider. This was followed by a second bolt-on acquisition, Confy AB, in June 2012, allowing MeetingZone to expand its geographical footprint and diversify into the Scandinavian conferencing market.
The MeetingZone group operates in the UK, Germany, Scandinavia, the US and Canada.
GMT Communications Partners is a European independent private equity group focused exclusively on the media, information, entertainment and telecommunications industries, having actively invested in the European mid-market for the past 20 years.
As industry practitioners, GMT focuses heavily on developing new strategic directions for established businesses that are able to benefit from new communications technologies. Since inception in 1993, GMT has raised and invested €775 million in 31 companies across 19 countries, exclusively in the European TMT industry.

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Choose Energy has received a Series A fundraising round from Kleiner Perkins Caufield & Byers and Stephens Capital Partners. Founded in 2008, Choose Energy educates consumers on their options for residential electricity supply.

PRESS RELEASE

Choose Energy, Inc announced today that it has received a Series A fundraising round from Kleiner Perkins Caufield & Byers (KPCB) and Stephens Capital Partners. The capital will be used to accelerate growth, supplement the world-class technology and marketing team, expand the scope of services for retail energy suppliers, and strengthen its market position as the most visited online energy marketplace.

Founded in 2008, Choose Energy educates consumers on their options for residential electricity supply. It provides a simple, intuitive interface to allow consumers to compare retail electricity plans, filter plans based on term, price, and type, select a plan that they like, and seamlessly enroll online. Choose Energy is also building tools to help retail energy providers compete more effectively, leveraging lessons from telecommunications, travel, media and other web-enabled industries.

Choose Energy is defining the new norm for choosing energy online and has helped more than 100,000 consumers find and enroll with a new electricity supplier. Currently active in Texas, New York, Ohio, Pennsylvania and Illinois, the Company plans to enter all 19 deregulated energy states and 22 deregulated natural gas states, which combined represent $250 billion of annual spend in the U.S. While a range of plans is offered on the site, more than 40% of Choose’s customers have selected 100% green power plans.

“Ten years after deregulation, we’re still experiencing a huge communications gap between the consumers of energy and retail energy providers,” said Jerry Dyess, CEO of Choose. “Our goal is to bring transparency to the complex decisions consumers face when choosing a new energy plan in deregulated states. By providing a decision-making destination for consumers that’s akin to choosing a flight online, we drive new sales, improve satisfaction and dramatically cut acquisition costs. The addition of Kleiner Perkins and Stephens supports our vision of a nationwide platform that serves this vibrant energy marketplace.”

In addition to helping consumers find the energy plan that’s right for them, Choose Energy is developing solutions for Retail Energy Providers to support customer acquisition, compelling offer creation, customer enrollment and ongoing relationship management.

“Traditional utilities were not built to compete for customers, or to maintain an ongoing dialogue with them,” said David Mount, partner at Kleiner Perkins Caufield & Byers. “Choose is building the solutions that enable retail energy providers to attract and develop lasting relationships with their customers.”

“Stephens is delighted to be involved in this financing round, and we believe Choose Energy has the potential to be a disruptive player in the deregulated energy marketplace, reducing friction for both consumers and retail energy providers. With this unique combination of silicon valley technology and Texas energy, we see a huge opportunity for transformational growth,” said Justin Courtney, Senior Vice President of Stephens, Inc.

About Choose Energy
Since its inception in 2008, ChooseEnergy.com has helped over 100,000 consumers and business owners shop for and switch energy suppliers and plans, with over 1 billion KWH of energy selection occurring through the Choose Energy platform. ChooseEnergy.com is currently available in Texas, New York, Ohio, and now Pennsylvania.

About Kleiner Perkins Caufield & Byers (KPCB)
Kleiner Perkins Caufield & Byers (KPCB) has backed entrepreneurs in more than 500 ventures leading to 150 IPOs, 350,000 jobs and a deep strategic network. The firm has helped build pioneering companies like Align, Amazon, Electronic Arts, Genentech, Genomic Health, Google, Intuit, Juniper Networks, Netscape, Symantec, VeriSign and WebMD. KPCB partners serve on the boards of Amazon, Apple, Bloom Energy, Flipboard, Foundation Medicine, Google, Hewlett-Packard, Nest, Square, Tesaro and Zynga, among others. KPCB accelerates the success of entrepreneurs with a team of partners delivering company-building services including strategy, operational scaling, recruiting, business development, product delivery and marketing communications. The firm invests in all stages from seed and incubation to growth companies. KPCB operates from offices in Menlo Park, San Francisco, Shanghai and Beijing.

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2XU, an athletic apparel business has appointed Kevin Roberts as chief executive officer. Roberts will help develop the company With the support of 2XU’s three co-founding directors Clyde Davenport, Aidan Clarke and Jamie Hunt and minority investment partner Lazard Australia Private Equity.

PRESS RELEASE

2XU, the leader in high performance athletic apparel, is thrilled to announce the appointment of Kevin Roberts as Chief Executive Officer. With 20 years invaluable experience in the sporting goods and retail industries, Roberts brings a wealth of knowledge to 2XU, ideally placing him to spearhead the brand’s rapid expansion.
“2XU represents the pursuit of an incredible global business opportunity,” said Roberts. “I greatly value the entrepreneurial culture of the brand and will continue to foster it moving forward.”
As Chief Executive Officer, Roberts will further build on the 2XU tenets laid down at the company’s founding in 2005 — engineering innovative performance products distinctly more technical and intelligent in design against their competitors in the global sports apparel industry.
With the support of 2XU’s three Co-Founding Directors Clyde Davenport, Aidan Clarke and Jamie Hunt, together with minority investment partner Lazard Australia Private Equity, Roberts is poised to take 2XU from an emerging player to a serious force to be reckoned with.
“We are delighted to welcome Kevin to our team,” said 2XU Co-Founder and Chairman, Clyde Davenport. “With Kevin’s years of building brands and business performance, we now have a cohesive management team in place committed to keeping 2XU focused on growth.”
After an early career rising through the ranks in retail and wholesale sales including roles at Asics and Nestle, Roberts joined rugby apparel brand Canterbury, and lead it back to profitability as General Manager in the early 2000s. At age 30, Roberts was appointed Managing Director of Adidas Australia. Roberts ultimately rose to the position of Senior Vice President within Adidas’ Sports Performance Division and was responsible for 9 billion dollars in global revenue.
“Kevin shares our beliefs,” remarked Clarke. “He is eager to lead the charge in making 2XU the billion dollar company that it can and will be in the long term.”
According to Roberts, 2XU’s overarching philosophy of “human performance multiplied” strongly resonates throughout his personal ethos — passion for the pursuit of excellence in sport, business and life.
“Not many people can say they lead a team that creates products to enhance athletic performance and the general health of everyone from weekend warriors to elite athletes,” said Roberts. “I’m lucky enough to make this a career.”
With a Degree in Commerce and a Graduate Diploma of Management, Roberts is also a Graduate of International Company Directors Course and the Australian Institute of Sport. Roberts has the know-how to successfully lead a dynamic, forward-thinking brand.
2XU.COM
Contact Information
MEDIA CONTACT:
Mfa, Ltd.
Sofia Whitcombe
212.528.1691
[email protected]

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