Author: asormani

Pamplona Capital Management has acquired Coinmach Service Corp, a multi-family laundry service provider, and AIR-serv Group, a provider of pay air services for automobile tire inflation in North America. The acquisitions, with a transaction value of $1.4 billion, creates a new company, CSC ServiceWorks, Inc.

PRESS RELEASE

Coinmach is the largest supplier of outsourced laundry equipment services for multi-family housing properties in the United States. The company services approximately seven million individual housing units in 45 states. AIR-serv, which provides pay air services to gas stations and convenience stores, will become a wholly owned subsidiary of CSC and maintain the brand name AIR-serv in select markets.
CSC will have a workforce of over 2,250 dedicated professionals, and will service nearly 1 million air and laundry systems throughout North America and Europe.
Robert M. Doyle, Chief Executive Officer of CSC, will lead the new company along with the existing management team from AIR-serv. The transaction was financed by a $795 million first lien term loan, as well as a $325 million second lien term loan that was fully underwritten by Pamplona.
“Pamplona is excited to partner with Bob Doyle and his world-class team. With the combined company’s new and flexible capital structure, we look forward to supporting the company’s growth strategy, including future acquisitions, in both the laundry and air service lines” said Robert Warden, partner at Pamplona Capital Management.
“We are thrilled to partner with Pamplona in launching CSC ServiceWorks,” said Robert M. Doyle, CEO. “Through this partnership, and with the addition of AIR-serv, we are able to accelerate our vision of building a world-class, diversified, route based service organization. We are excited to offer our customers a single, fully integrated platform combining the resources of two respected industry leaders with distinct yet complementary attributes.”

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European media and communications private equity group GMT Communications Partners and Veronis Suhler Stevenson have teamed up with management to provide growth capital to IT-Ernity. Founded in 2002 by its managing director, Sebastiaan de Koning, and R&D manager Tom Pfeifer, the business is a provider of business critical managed services and shared hosting for SMEs in the Netherlands.

PRESS RELEASE

GMT   Communications   Partners   (“GMT”),   the   European   media   and   communications   focused   private   equity   group,  together  with  Veronis  Suhler  Stevenson  (“VSS”),  a private equity firm that invests in the information, education, media, marketing and business services industries in North America and Europe, are delighted to announce that they have teamed up with Management to provide growth capital to IT-Ernity, a provider of business critical managed services and shared hosting for SMEs in the Netherlands.
Founded in 2002 by its Managing Director, Sebastiaan de Koning, and R&D Manager Tom Pfeifer, IT-Ernity offers a comprehensive catalogue of standardised fully managed solutions, including system administration, protection, security, application management and other outsourcing services. Through the shared services and connectivity categories, the company offers shared hosting, domain registration and secure infrastructure connectivity through xDSL and fibre. Since 2008, the Company has increased in scale through fourteen acquisitions, strengthening its existing customer base and services portfolio.
The Netherlands is a highly attractive market for the delivery of internet services in Europe due to the success of the AMS-IX exchange, one of the largest data transport hubs in the world, with over 70 connected carriers and the fastest broadband speeds in Europe. Additionally, the regulatory environment is highly favourable with regards data storage and the energy network is one of the most reliable in Europe. As a result of the logistical infrastructure   and   the   country’s   central   location,   it   is   estimated   that   a   third   of   the   data   centres   in   Europe   are   located within the Netherlands.
IT-Ernity deploys its services through a sophisticated flexible cloud server infrastructure and dedicated high- end servers, which are housed in state-of-the-art data centre facilities. The company serves a diverse and growing customer base of over 40,000 customers, including a significant amount of cloud and managed services customers, primarily in the SME market. Expansion capital will be provided through a combination of equity, from GMT, VSS and management, who have acquired the majority shareholding from Nedvest Capital, in addition to debt financing from ING and ABN-AMRO.
Stefan Franssen, Partner at GMT, who will join the Board of the Company following the transaction, said:
“This is a fantastic opportunity to acquire a fast-growing business in an attractive niche of the IT industry. The management team at IT-Ernity have done a superb job in recent years, building the company through a string of acquisitions, and we look forward to helping them deliver on their ambitious expansion plans in the coming years.”
Morgan Callagy, Managing Director at VSS, who will join the Board of the Company following the transaction, said: “The  success of Sebastiaan de Koning and his team at IT-Ernity speaks for itself, and it is a privilege to be joining forces with them. Since its foundation in 2002, IT-Ernity has delivered excellent growth, driven by strong market fundamentals and an attractive regulatory landscape, and we expect this new partnership to continue to take advantage of these market conditions in the coming years.”
Sebastiaan De Koning, Managing Director of IT-Ernity commented:
“This investment will give us the financial and strategic resources we require to take IT-Ernity to the next stage of its development. We have been fortunate over the past 11 years to have established a team of committed and highly skilled individuals, and I look forward to building on our successes to  date  alongside  GMT  and  VSS.”
Contact for GMT
Equus: GMT:
Contact for VSS:
Morgan Callagy Tanya Dessereau
Notes to editors:
Piers Hooper / Sam Barton Tim Green / Stefan Franssen
Managing Director Marketing
+44 20 7223 1100 +44 20 7292 9333
+44 20 7484 1400 +1 212 381 8556
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 marketplace 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 communication technologies. Since its foundation in 1993, GMT has invested in 32 companies and completed 70 bolt-on transactions across 19 countries, exclusively in European media/communications.
Veronis Suhler Stevenson (www.vss.com) is a private equity and debt capital fund management company dedicated to investing in the information, education, media, marketing and business services industries in North America and Europe. VSS provides capital for buyouts, recapitalizations, growth financings and strategic acquisitions to companies and management teams with a goal to build companies both organically and through a focused add-on acquisition program. Since the closing of the first VSS buyout fund in 1987, VSS has managed four buyout funds and two structured capital funds with initial aggregate committed capital in excess of $3.1 billion. The six funds have to date invested approximately $2.7 billion in 73 portfolio companies which have in turn completed over 320 add-on acquisitions.
Nedvest Capital is an independent Dutch private equity firm investing in profitable medium- sized Dutch companies. Nedvest Capital takes a long-term view in its investment decisions, with buy and build activity driving growth. The targeted companies contribute to society and the environment in a sustainable manner. In addition to capital, Nedvest Capital brings knowledge and expertise to its investments.

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David Spaulding, founder and chief executive officer of The Spaulding Group, has promoted Patrick W. Fowler to the position of president. Spaulding relinquishes the title, which he has held since the founding of the firm nearly 23 years ago, while retaining the role of CEO. Patrick will also continue to hold the title of COO.

PRESS RELEASE

David Spaulding, CIPM, founder and Chief Executive Officer of The Spaulding Group, announced today the promotion of Patrick W. Fowler to the position of President. David Spaulding relinquishes the title, which he has held since the founding of the firm nearly 23 years ago, while retaining the role of Chief Executive Officer. Patrick will also continue to hold the title of Chief Operating Officer.

“Patrick has been an instrumental member of our firm for 15 years. During this time he has grown considerably, taking on increasingly challenging and important roles,” said David Spaulding. “He has been responsible for our highly successful Performance Membership Forum membership group, which continues to hold inspiring and informative meetings for our nearly 60 member firms. He coordinates our annual Performance Measurement, Attribution & Risk conferences, which have become the leading performance conferences in both North America and Europe. And, he coordinates many of our other activities, always willing to assume greater responsibility.”

“It has been my great honor to be part of the growth and success of The Spaulding Group. Our industry has experienced a tremendous amount of change in the fifteen years since I began here at TSG,” said Patrick W. Fowler. “I look forward to continuing in the traditions, excellence and thought leadership that have become the hallmarks of our incredible company.”

Patrick is a 1998 graduate of Cook College, Rutgers University as well as a mini-MBA certificate holder in the Business Essentials Program from Rutgers Business School. Patrick received the 2011 Dietz Award for excellence in performance measurement literature for his article with Stephen Campisi, Getting to the Heart of Investing – Financial Stewardship that Meets Client Objectives. He is also the Director of PerformanceJobs.com, a career resource for investment performance professionals and is the Managing Editor of The Journal of Performance Measurement®. A former member of the NJ Army National Guard and a township soccer and baseball coach, Patrick and his wife Cristina have two children.

About The Spaulding Group, Inc.
With offices in the New York City and Los Angeles metropolitan areas, The Spaulding Group, Inc. is the leader in investment performance measurement products and services. TSG provides consulting along with GIPS and non-GIPS verification services; offers a unique Software Certification service; publishes The Journal of Performance Measurement®, a quarterly publication launched in 1996; and hosts the Performance Measurement Forum. The firm also sponsors the annual Performance Measurement, Attribution and Risk (PMAR) North America and Europe conferences. TSG’s Institute of Performance Measurement offers performance measurement training, including a fundamental’s course on performance measurement, a course on performance attribution, a class on portfolio risk, and two CIPM exam preparation courses.

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VTB Capital has appointed Xin Lin and Wei Chen to its Hong Kong office, as part of VTB Capital’s growing business in the Asia-Pacific region. Lin has been appointed as VTB Capital’s head of multiproduct sales for China, where she will be responsible for sales & origination and fixed income across Chinese corporate, investor and financial institutional clients.

PRESS RELEASE

VTB Capital announces the appointment of Xin Lin and Wei Chen to its Hong Kong office, as part of VTB Capital’s growing business in the Asia-Pacific region.

Xin Lin has been appointed as VTB Capital’s Head of Multiproduct Sales for China, where she will be responsible for Sales & Origination and Fixed Income across Chinese corporate, investor and financial institutional clients. Functionally she will report jointly to Philip Hamilton, Global Fixed Income Sales, and Makram Abboud, CEO Middle East & Africa for VTB Capital plc and Co-Head of the International Multi-Product Origination and Distribution group for VTB Capital plc, and regionally to Damian Chunilal, CEO Asia for VTB Capital.

Xin Lin joins VTB Capital from Nomura International Limited Hong Kong, where she was Head of Global Finance, COO of China, since 2008. Prior to Nomura, Xin Lin worked at Lehman Brothers as Head of Risk Solutions Group and Global Finance, China, between 2005 and 2008. She also held senior positions in the fixed income division at the UBS Hong Kong office, between 2001 and 2005. Xin Lin began her career at JP Morgan’s Singapore division in 1998 after graduating with an honors degree from the National University of Singapore.

Wei Chen recently joined VTB Capital’s Corporate & Investment Coverage team, covering Chinese corporate and financial institutional clients. Operationally, she will report to Riccardo Orcel, Deputy CEO at VTB Group, and regionally to Damian Chunilal.

Between 2000 and 2006, Wei Chen worked at the Investment Banking Division of Lehman Brothers in New York and Hong Kong. She worked at Global Market of Deutsche Bank in Hong Kong between 2006 and 2012. Wei is also a member of Jiangxi Provincial Committee of the Chinese People’s Political Consultative Conference, member of Shanghai Women’s Federation and member of All China Youth Federation. She holds a PhD degree from China Academy of Social Science, a Masters degree from the University of Southern California and a Bachelors Degree from Fudan University.

In her new role, Wei Chen will be responsible for covering the Chinese government, corporate and financial institutional clients. She will be focusing on China, covering state owned entities as well as private sector clients, and covering clients across the entirety of VTB’s corporate and investment banking capabilities.

Atanas Bostandjiev, CEO, UK and International of VTB Capital plc, noted: “China is Russia’s largest trading partner in Asia, and both countries are continuing to actively develop bilateral cooperation. I am confident that the appointments of Xin Lin and Wei Chen at VTB Capital’s Hong Kong office will significantly expand the company’s business opportunities in one of our most important markets.”

Damian Chunilal said: “VTB Capital continues to pursue a strategy of international expansion, with an actively growing customer base, range of products and services in Asia. China is Russia’s largest trading partner and is of strategic importance to VTB Capital. These senior level hires demonstrate our continued commitment to the Chinese market and to our Asian strategy. I am certain that with their extensive experience and unique local market knowledge, Xin Lin and Wei Chen will strengthen and give further impetus to VTB Capital’s fast growing business in the region.”

Press Office

Vadim Bely
[email protected]

Julia Govorun
[email protected]

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VERSUS IO has completed its Series A funding round led by Earlybird Venture Capital. The round also includes additional investments from 500 Startups led by Dave McClure who initially invested $100,000 in December 2012, seed investor High-Tech Gründerfonds and angel investors Lars Dittrich and Dario Suter. To date VERSUS IO has raised $1 million in total.

PRESS RELEASE

VERSUS IO, the world’s most sophisticated product comparison platform, today announced it has completed its Series A funding round led by Earlybird Venture Capital. VERSUS IO enables users to compare consumer technology products like smartphones and tablets, cities and more. Using VERSUS IO, consumers are able to view results in a simple and clear format, without “information overload” and ultimately allowing consumers to digest complex product data quickly and efficiently.

VERSUS IO uses a unique sophisticated natural language algorithm and user interface styling that presents its results in a way that appeals to a users’ logic psyche and is incredibly useful. There are now 25 million comparisons available to consumers on the site in 18 languages. Since its launch in July 2011, VERSUS IO traffic has increased on average by 35% each month and is now attracting 2.2 million unique visitors each month.

The round also includes additional investments from 500 Startups led by Dave McClure who initially invested $100K in December 2012, seed investor High-Tech Gründerfonds and angel investors Lars Dittrich and Dario Suter. To date VERSUS IO has raised $1M in total.

“We have worked very hard to build an amazing platform and, as a result, have experienced impressive growth and extremely positive feedback from our users,” said Ramin G. Far, CEO and founder at VERSUS IO. “The closure of our Series A round is further evidence of the significant opportunities that are emerging in the comparison landscape. I can’t wait to see what the future holds.”

“We’re very excited to be investing in VERSUS IO and believe it has the potential to disrupt the product comparison scene” said Dr. Christian Nagel, Co-founder and Partner at Earlybird Venture Capital. “VERSUS IO’s exponential growth over the past year reflects a massive demand among consumers who want to make more informed purchase decisions. Ramin and his team have an ambitious and exciting growth plan and we are looking forward to being part of its execution.”

“VERSUS IO’s ability to take a sophisticated algorithm and make it so incredibly simple to use is one of the main reasons it caught me eye,” commented Dave McClure, Founding General Partner at 500 Startups. “I’ve enjoyed working closely with Ramin in recent months and I’m looking forward to the next stage of VERSUS IO’s journey. I’m predicting big things.”

ABOUT EARLYBIRD

Established in 1997 Earlybird currently manages over $700M in assets. We have backed more than 80 companies, some of which have sparked significant innovations in business and technology and resulted in large scale ($1bn+) IPOs and trade sales. Earlybird backs European companies with global ambitions and our active portfolio currently includes more than 20 companies across the consumer internet and enterprise services space such as 6Wunderkinder, Auctionata, B2X Care Solutions, Carpooling.com, Madvertise, Peak Games, Socialbakers, Smava, Traxpay, THE Football App and VERSUS IO.

PRESS CONTACT EARLYBIRD

Christine Hoefer
+49 30 46 72 470 20
[email protected]

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H.I.G. Capital has held a final closing of H.I.G. Bayside Loan Opportunity Fund III (Europe). Total capital commitments to the fund exceeded its $1 billion target.

PRESS RELEASE

H.I.G. Capital announced today that it has held its final closing of H.I.G. Bayside Loan Opportunity Fund III (Europe). Total capital commitments to the fund exceeded its $1 billion target. The fund will invest primarily in debt obligations of small and medium-sized European companies, both existing loans acquired on the secondary markets as well as newly originated primary loans. With offices in London, Paris, Hamburg and Madrid, H.I.G. Capital has a team of 70 investment professionals in Europe.

Sami Mnaymneh and Tony Tamer, co-founders and Managing Partners of H.I.G. Capital, commented: “We are gratified by the continued support of our investors, which will allow us to continue to pursue this attractive credit strategy.” John Bolduc, Executive Managing Director of H.I.G. Bayside, added: “The bank deleveraging process in Europe has resulted in tight credit conditions, especially for smaller businesses. Our strong credit team in Europe is very well situated to address this need and to capitalize on the compelling investment opportunities available in the European loan markets today.”

About Bayside Capital
Bayside Capital, an affiliate of H.I.G. Capital, is an investment firm with approximately $4.5 billion under management. Focused on middle-market companies, Bayside Capital invests across several segments of the primary and secondary debt capital markets with an emphasis on long-term returns. With twelve offices throughout the U.S. and Europe and over 250 investment professionals to draw upon, Bayside has the experience, resources, and flexibility to provide capital solutions quickly, and the strategic and operational expertise to help support its investments.

Bayside Capital is active across a wide spectrum of industries, including business services, manufacturing, healthcare, retail, food/agriculture, and specialty finance. With the ability to invest in all parts of the capital structure, Bayside is able to develop creative financing solutions and consummate transactions on an expedited basis.

Bayside Capital is a credit affiliate of H.I.G. Capital, a leading global private investment firm with more than $12 billion of equity capital under management. Since its founding in 1993, H.I.G. Capital has invested in more than 200 companies worldwide and has developed an impressive track record for creating value for its partners and investors. For more information, please refer to the Bayside Capital website at www.bayside.com.

About H.I.G. Capital
H.I.G. is a leading global private equity investment firm with more than $12 billion of equity capital under management. Based in Miami, and with offices in Atlanta, Boston, Chicago, Dallas, New York, and San Francisco in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Paris, and Rio de Janeiro, H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential. H.I.G. invests in management-led buyouts and recapitalizations of profitable and well managed manufacturing or service businesses. H.I.G. also has extensive experience with financial restructurings and operational turnarounds. Since its founding in 1993, H.I.G. invested in and managed more than 200 companies worldwide. The firm’s current portfolio includes more than 80 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.

Media contacts

To speak to Appu Mundassery, Managing Director, Bayside London please contact:

MHP Communications

Rory King

Direct Dial: +44 (0)20 3128 8564
Mobile: +44 (0)7584 681 490
Email: [email protected]

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HFO Investment Real Estate has appointed Tyler Johnson as a partner specializing in multi-family investments.
Tyler has been working in commercial real estate as an apartment broker for over a decade.

PRESS RELEASE

HFO Investment Real Estate is pleased to announce the addition of Tyler Johnson as a partner specializing in multi-family investments.
Tyler has been working in commercial real estate as an apartment broker for over a decade. His career began in the San Francisco Office of a national company and his transaction experience included the sale of office buildings, shopping centers, student housing developments, LIHTC and multifamily investments across the country. Tyler has brokered over $125 million in commercial real estate transactions for a wide range of clients including institutions, private equity clients, banks and governmental agencies. Since 2010 Tyler has been working in Portland where he quickly established himself as one of the best apartment brokers in the Portland metro market. Tyler’s prior awards include “Top 5 Portland Broker” and “Top Apartment Broker” for 2011 and 2012 in the Oregon/SW Washington area.
“We are delighted to have Tyler joining as a partner broker,” said HFO co-founding Partner Tim O’Brien. “Tyler is a true team player that brings hard work, integrity, in-depth knowledge and history with apartment investments to HFO’s clients.”
Tyler holds a Bachelor of Science degree in Environmental Studies from the University of Oregon. He is also an active member of the University Club and the Multnomah Athletic Club.
HFO Investment Real Estate is an investment brokerage firm with a focus exclusively on apartment properties in Oregon and Washington. HFO provides a regional and national selling platform with a unique insider’s knowledge of local apartment markets. This complete attention on apartment investments enables HFO’s clients to make better investment decisions. HFO Investment Real Estate: All Apartments – All the Time. Learn more at www.hfore.com.
Image Available: http://www.marketwire.com/library/MwGo/2013/5/13/11G005097/Images/HFO_Apartment_Broker_Tyler_Johnson-705227599285.jpg
Contact Information
Contact:
Aaron Kirk Douglas
(503) 241-5541

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Kite Pharma, a clinical stage biotechnology company focused on developing innovative targeted immunotherapies for cancer, has closed a $20 million private placement of shares of its Series A Preferred Stock. Joined by a new investor, Alta Partners, all existing major investors participated in the financing.

PRESS RELEASE

Kite Pharma Inc. (Kite), a clinical stage biotechnology company focused on developing innovative targeted immunotherapies for cancer, today announced that it has closed a $20 million private placement of shares of its Series A Preferred Stock. In addition to the $20 million in new funds, Kite converted $15 million in outstanding promissory notes into shares of Series A Preferred Stock. Joined by a new investor, Alta Partners, all existing major investors participated in the financing, including Kite’s Founder and Executive Chairman, Arie Belldegrun , M.D., David Bonderman , Pontifax Ltd., Commercial Street Capital, and Michael Milken.

(Logo: http://photos.prnewswire.com/prnh/20130513/MM13332LOGO)

Kite is engaged in the development of novel cancer immunotherapeutic products with a focus on engineered autologous T cell therapy (eACT), designed to restore a patient’s immune system by recognizing and eradicating tumors. In partnership with the National Cancer Institute (NCI) Surgery Branch under a Cooperative Research and Development Agreement (CRADA), Kite is advancing a pipeline of proprietary eACT product candidates directed at a wide range of cancer indications. These novel personalized and targeted immunotherapies, which capitalize on the selectivity and potency of immune cells, are aimed at providing significant and durable clinical benefit regardless of tumor origin, disease stage, and prior treatments.

“We are extremely pleased with the significant level of interest in Kite and its programs by our existing investors and by Alta Partners, a premier life sciences investment firm,” said Aya Jakobovits , Ph.D., President and Chief Executive Officer of Kite Pharma. “The new resources will allow us to advance clinical and manufacturing activities of eACT products directed to hematological and solid tumor indications.”

In connection with the financing, Farah Champsi , Managing Director of Alta Partners, and Ran Nussbaum, Managing Partner of Pontifax, have joined Kite’s Board of Directors. “We are pleased to welcome Farah and Ran, who will be adding their expertise to a very active and engaged Board,” said Arie Belldegrun. “Their experience within the life sciences industry will be valuable to us as Kite enters its next stage of development and growth.”

“Kite’s eACT technology has the potential to provide cancer patients with a treatment that offers a significant and durable impact on their disease,” said Farah Champsi . “The product pipeline directed to different tumor types, combined with the company’s experienced management team, positions Kite to become a leader in this breakthrough therapeutic modality. I am excited to work again with Drs. Belldegrun and Jakobovits to realize the potential of this product platform.”

About the eACT Platform
Clinical evidence has demonstrated that a patients’ peripheral blood T cells, which have been engineered with T cell receptor (TCRs) and Chimeric Antigen Receptors (CARs) that recognize tumor specific molecules, can traffic directly to the tumor, become activated upon engagement with the tumor antigen, and selectively eradicate tumors. Clinical studies performed at the National Cancer Institute using these types of engineered peripheral blood T cells have been associated with significant and durable objective clinical responses in cancer patients with advanced metastatic disease, including those with refractory melanoma, sarcoma, lymphoma and leukemia. These encouraging results highlight eACT as an emerging therapeutic modality that could provide new personalized targeted therapy options for cancer patients spanning the spectrum of disease from its early stages to the salvage setting.

About Kite Pharma
Kite Pharma, Inc. is a privately held development stage biotechnology company engaged in the development of novel cancer immunotherapeutic products, with focus on engineered autologous T cell therapeutics targeted to different tumor types. In addition, the company is advancing a novel therapeutic cancer vaccine aimed to trigger potent and specific immunity against multiple epithelial cancers, which has the potential to complement its eACT programs.

Kite is based in Los Angeles, CA.

Contact:
Aya Jakobovits , Ph.D.
President and Chief Executive Officer
Kite Pharma, Inc.
(310) 824-9999 x 201
[email protected]

For Media:
Joan Kureczka
Kureczka-Martin Associates
Ph: (415) 821-2413
M: (415) 690-0210
[email protected]

SOURCE Kite Pharma, Inc.
Copyright©2012 PR Newswire.
All rights reserved

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DDR Corp is to acquire a portfolio of prime power centers from its existing joint venture with Blackstone Real Estate Partners VII. The joint venture between Blackstone and DDR currently owns 44 shopping centers, and DDR has executed a purchase and sale agreement to acquire Blackstone’s 95% common equity ownership interest in 30 of these shopping centers for $1.46 billion.

PRESS RELEASE

DDR Corp. (NYSE: DDR) today announced an agreement to acquire a portfolio of prime power centers from its existing joint venture with Blackstone Real Estate Partners VII (Blackstone). The acquisition, which is expected to close in the fourth quarter of 2013 subject to customary closing conditions, will significantly increase DDR’s cash flow generated by very high quality, large format prime power centers located in top MSA’s in the United States.

DDR intends to fund this acquisition through a combination of the assumption of $398 million in existing debt, nearly $150 million from the repayment of preferred equity and mezzanine loans previously funded by DDR and proceeds from the issuance of common equity and unsecured debt. As part of the consideration, DDR has the right, subject to certain conditions, to issue common shares to Blackstone in an amount not to exceed $250 million.
The portfolio being purchased is comprised primarily of market dominant prime power centers located in the top 40 MSA’s of the United States, and includes all ten properties that DDR has a current right of first offer to acquire, such as fortress shopping centers Shoppers World in Boston, Woodfield Village Green in Chicago, Fairfax Towne Center in Washington DC, and Riverdale Village in Minneapolis. The 14 properties not being acquired will remain in the venture owned 95% by Blackstone and 5% by DDR, and DDR will continue to manage and lease those properties pursuant to its existing agreements with Blackstone.
The properties to be acquired include power centers DDR has acquired, developed, leased and managed through various ventures since 1995. The portfolio features very strong trade area demographics with an average household income of $91,000 and population of 543,000 people, 14% and 21%, respectively, above the current DDR prime portfolio. The acquisition greatly improves DDR’s pro rata MSA exposure with approximately 50% of the portfolio value generated by power centers located in top 20 MSA’s in the United States, and approximately 80% of the value coming from the top 40 MSA’s. Average base rent is $13.81 per square foot, 5% below the DDR prime portfolio, which creates organic growth opportunities when rents can be marked to market. The portfolio is comprised of 11.8 million total square feet, is 95% leased, and consists of large format centers with an average size of approximately 400,000 square feet, 20% larger than the average DDR prime power center. In addition to growth opportunities from marking rents to market, DDR intends to leverage its operating platform to create incremental value in the coming years through redevelopment and remerchandising projects, tenant downsizings and center expansions.
Consistent with DDR’s long-term strategic objectives, the acquisition will be prudently capitalized with permanent equity and long-term debt. The $398 million of assumed debt is comprised of mortgage debt with a weighted average interest rate of 5.9% and a weighted average maturity of three years, including a $260 million loan maturing in 2015 with an interest rate of 6.4% secured by four high quality shopping centers with a current LTV of approximately 50%. The acquisition also provides opportunities to unencumber 21 of the 30 assets and to significantly improve the quality and scale of the Company’s portfolio of wholly-owned, unencumbered power centers. As a result of this transaction and strong year-to-date operating metrics, the Company is revising 2013 guidance for Operating FFO at this time to a range between $1.08 and $1.11 per diluted share.
“We are very pleased to add these outstanding assets to our wholly-owned portfolio,” stated Daniel B. Hurwitz , chief executive officer of DDR. “It was our goal to accomplish this upon the initial formation of the venture with Blackstone, and we thank them for being outstanding partners. We look forward to our continued relationship.”
“This acquisition will significantly advance many of our strategic objectives, and is yet another example of our ability to mitigate risk on attractive investment activity through prudent underwriting and funding,” commented David J. Oakes , president and chief financial officer of DDR. “The acquisition will be funded responsibly, and will position us well for strong relative growth in cash flow generated by high quality shopping centers over the long term.”
The shopping centers being acquired include:

Total

GLA
Center
MSA
ST
(000s)

Riverdale Village
Minneapolis
MN
941
Shoppers World
Boston
MA
778
Woodfield Village Green
Chicago
IL
674
Great Northern Plaza
Cleveland-Akron
OH
669
FlatAcres / Parker Pavilions
Denver
CO
631
MacArthur Marketplace
Dallas-Fort Worth
TX
599
Belden Park Crossings
Cleveland-Akron
OH
594
Connecticut Commons
Hartford
CT
566
Midway Marketplace
Minneapolis
MN
487
Pioneer Hills
Denver
CO
479
Merriam Town Center
Kansas City
KS
474
Marketplace of Brown Deer
Milwaukee
WI
405
Marketplace At Towne Center
Dallas-Fort Worth
TX
404
Overland Pointe Marketplace
Kansas City
KS
382
Grandville Marketplace
Grand Rapids
MI
351
Township Marketplace
Pittsburgh
PA
299
Harbison Court
Columbia
SC
298
Carillon Place
Naples
FL
283
Shoppers World Brookfield
Milwaukee
WI
265
Lake Walden Square
Tampa
FL
257
Turner Hill Marketplace
Atlanta
GA
255
Fairfax Towne Center
Washington DC
VA
253
Lake Brandon Village
Tampa
FL
244
Riverchase Promenade
Birmingham
AL
228
Piedmont Plaza
Orlando
FL
208
Jo-Ann Plaza
Buffalo
NY
203
Cool Springs Pointe
Nashville
TN
201
McKinney Marketplace
Dallas-Fort Worth
TX
184
Frisco Marketplace
Dallas-Fort Worth
TX
108
Shops At Turner Hill
Atlanta
GA
32

11,752

About DDR Corp.
DDR is an owner and manager of 445 value-oriented shopping centers representing 116 million square feet in 39 states, Puerto Rico and Brazil. The Company’s assets are concentrated in high barrier-to-entry markets with stable populations and high growth potential and its portfolio is actively managed to create long-term shareholder value. DDR is a self-administered and self-managed REIT operating as a fully integrated real estate company, and is publicly traded on the New York Stock Exchange under the ticker symbol DDR. Additional information about the Company is available at www.ddr.com.
Safe Harbor
DDR considers portions of the information in this press release to be 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, both as amended, with respect to the Company’s expectation for future periods. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. For this purpose, any statements contained herein that are not historical fact may be deemed to be forward-looking statements. There are a number of important factors that could cause our results to differ materially from those indicated by such forward-looking statements, including, among other factors, our ability to successfully complete the proposed acquisition of properties from the Blackstone joint venture, local conditions such as oversupply of space or a reduction in demand for real estate in the area; competition from other available space; dependence on rental income from real property; the loss of, significant downsizing of or bankruptcy of a major tenant; constructing properties or expansions that produce a desired yield on investment; our ability to buy or sell assets on commercially reasonable terms; our ability to complete acquisitions or dispositions of assets under contract; our ability to secure equity or debt financing on commercially acceptable terms or at all, including in connection with the proposed acquisition of properties from the Blackstone joint venture; our ability to enter into definitive agreements with regard to our financing and joint venture arrangements or our failure to satisfy conditions to the completion of these arrangements; and the success of our capital recycling strategy. For additional factors that could cause the results of the Company to differ materially from those indicated in the forward-looking statements, please refer to the Company’s Form 10-K for the year ended December 31, 2012, as amended. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.
SOURCE DDR Corp.

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Tokai Pharmaceuticals, a biopharmaceutical company focused on developing new treatments for prostate cancer, has raised $35.5 million in a Series E financing. The financing round included both current investors, Apple Tree Partners and Novartis Venture Funds, as well as undisclosed angel investors.

PRESS RELEASE

Tokai Pharmaceuticals, Inc., a biopharmaceutical company focused on developing new treatments for prostate cancer, today announced that the company raised $35.5 million in a Series E financing based on encouraging clinical progress and investor support for galeterone (TOK-001), Tokai’s lead prostate cancer drug candidate. The proceeds will be used to expand the ongoing ARMOR2 Phase 2 clinical trial of galeterone in patients with castration-resistant prostate cancer (CRPC) and prepare for registration studies. The financing round included both current investors, Apple Tree Partners and Novartis Venture Funds, as well as undisclosed angel investors.

“We are extremely encouraged by the maturing data we are seeing from the ARMOR2 clinical trial,” said Seth Harrison, M.D., chairman of the Tokai Board of Directors and managing general partner, Apple Tree Partners. “This additional funding will allow Tokai to complete the ARMOR2 study in broad CRPC patient populations to streamline Phase 3 clinical development path for galeterone.”

“Based on its highly differentiated clinical profile, unique triple mechanism of action and the ARMOR2 clinical results to date, we believe that galeterone may be a promising new treatment option for all stages of CRPC,” commented Reinhard J. Ambros, Ph.D., global head of Novartis Venture Funds. “We are pleased to continue to support Tokai in the development of this important new prostate cancer therapy.”

ARMOR2 is the second study in Tokai’s ARMOR (Androgen Receptor Modulation Optimized for Response) clinical development program for the evaluation of galeterone. ARMOR2 is a Phase 2 clinical trial evaluating the efficacy and safety of a new oral formulation of galeterone in distinct populations of CRPC patients, including both metastatic and non-metastatic treatment-naïve and those who have progressed while taking Zytiga® (abiraterone acetate) or Xtandi® (enzalutamide). The primary endpoints of the study are reduction in prostate-specific antigen (PSA) levels, and safety. The secondary endpoints include tumor responses by RECIST. Patients who respond to therapy will have the opportunity to continue treatment in an extension arm.

ARMOR2 follows the successfully completed ARMOR1 Phase 1 clinical trial in which an early formulation of galeterone demonstrated clinical activity and was well tolerated in patients with CRPC. The 49 patient dose-finding study was completed in 2012 and results were presented at the 2012 ASCO Annual Meeting. At the highest dose tested, significant PSA responses and tumor reduction rates were seen. There were no cases of secondary mineralocorticoid excess (ME), a clinical syndrome that is commonly associated with other CYP17 lyase inhibitors, observed and no concomitant prednisone therapy was required in patients in ARMOR1.

About Galeterone (TOK-001)
Galeterone is a proprietary small molecule, oral drug for the treatment of prostate cancer that disrupts androgen receptor signaling via a novel triple mechanism of action. In preclinical studies, galeterone acted as a highly selective CYP17 lyase inhibitor, as a potent androgen receptor antagonist, and decreased androgen receptor levels in prostate tumors – the only drug in development that has been shown to exhibit all three of these distinct properties. Results from the ARMOR1 Phase 1 clinical trial showed that galeterone demonstrated clinical activity and was well tolerated in patients with castration-resistant prostate cancer (CRPC). Galeterone is currently being evaluated in a Phase 2 study, ARMOR2, in patients with CRPC as part of the ARMOR (Androgen Receptor Modulation Optimized for Response) clinical development program.

About Tokai Pharmaceuticals
Tokai Pharmaceuticals is a U.S. biopharmaceutical company focused on developing new treatments for prostate cancer. The company’s lead drug candidate, galeterone (TOK- 001), is the first investigational new drug that can decrease overall androgen receptor levels in prostate tumors and in which three distinct mechanisms of action are combined to disrupt androgen receptor signaling in one oncotherapeutic. Galeterone is currently being evaluated in a Phase 2 study, ARMOR2, in patients with castration-resistant prostate cancer (CRPC). Based in Cambridge, Massachusetts, Tokai was founded by Apple Tree Partners and is backed by Apple Tree and Novartis Venture Funds. For more information on the company and galeterone, please visit www.tokaipharma.com.

Zytiga is a registered trademark of Janssen Biotech Inc. Xtandi is a registered trademark of Astellas Pharma, Inc.

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Bayside Capital has completed an investment in Consolis, a European manufacturer of prefabricated concrete products. The investment, executed in partnership with private-equity sponsor LBO France, forms part of a comprehensive debt restructuring aimed at reducing indebtedness and providing fresh capital to support the company’s return to growth.

PRESS RELEASE

Bayside Capital (“Bayside”) today announced that an investment fund managed by Bayside has completed an investment in Consolis, a leading European manufacturer of prefabricated concrete products. The new-money investment, executed in partnership with private-equity sponsor LBO France, forms part of a comprehensive debt restructuring aimed at reducing indebtedness and providing fresh capital to support the company’s return to growth.

As part of the transaction, Bayside underwrote new super-senior credit facilities totaling €45 million, complementing a separate new-money investment of €45 million from sponsor LBO France. Other features of the transaction included the deferral of senior debt maturities and the conversion into equity-like instruments of approximately half of the senior debt and all of the junior debt.

The transaction is another example of Bayside’s ability to implement, within a short timeframe, complex financing solutions for companies facing a new-money need in the context of an unsustainable capital structure. Since 2009, Bayside has worked closely with a number of private-equity firms to jointly develop successful restructuring alternatives in such circumstances.

Lionel Laurant, Managing Director at Bayside Capital, commented: “We are very excited to back Consolis in this crucial phase of its development. Additional fresh capital, combined with the establishment of a sounder capital structure, will enable Consolis’ first-class management team to harness the company’s unmatched capabilities as it reaps the benefits from a recovery in its key markets”.

About Bayside Capital
Bayside Capital, an affiliate of H.I.G. Capital, is an investment firm with approximately €3.5 billion under management. Focused on middle-market companies, Bayside Capital invests across several segments of the secondary debt capital markets with an emphasis on long-term returns. With twelve offices throughout the U.S. and Europe and over 250 investment professionals to draw upon, Bayside has the experience, resources, and flexibility to provide capital solutions quickly, and the strategic and operational expertise to help support its investments.

Bayside Capital is active across a wide spectrum of industries, including business services, manufacturing, healthcare, retail, food/agriculture, and specialty finance. With the ability to invest in all parts of the capital structure, Bayside is able to develop creative financing solutions and consummate transactions on an expedited basis.

Bayside Capital is a credit affiliate of H.I.G. Capital, a leading global private investment firm with more than €9 billion of equity capital under management. Since its founding in 1993, H.I.G. Capital has invested in more than 200 companies worldwide and has developed an impressive track record for creating value for its partners and investors.

Media contacts

MHP Communications

Fern Hammond
T +44 (0) 203 128 8092
[email protected]

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Zoove Corp, a provider of a unique mobile phone number for content has secured a $15 million from existing series D investors, Rogers Venture Partners and Panorama Capital. The company’s early stage investors, Worldview Technology Partners and Highland Capital also invested in the business.

PRESS RELEASE

Zoove Corp, the exclusive provider of StarStar and StarStarMe, a unique mobile phone number that connects people with the things they care about most — great content, favorite brands, and one another — today announced that it has secured a strategic investment of $15 Million from existing series D investors, Rogers Venture Partners and Panorama Capital, along with additional investment from the company’s early stage investors, Worldview Technology Partners and Highland Capital. This new funding will allow Zoove to expand significantly through all areas of the business, with emphasis on product expansion, business development and marketing.
After securing relationships with all four major mobile carriers — AT&T, Sprint, T-Mobile, and Verizon Wireless, Zoove became the first and only organization to offer unique vanity mobile numbers that allow brands to provide any content experience to consumers via a simple phone call. The company has signed significant deals with major U.S. brands including AT&T, CBS Radio, Dunkin’ Donuts, Ford, Hyatt Hotels, NFL, Viacom, and many more. As mobile commerce and adoption continue to rise exponentially, more and more companies realize the indispensable need for simple and successful mobile marketing tactics. As a result, Zoove has grown rapidly across media, entertainment, retail, travel, financial services, and even non-profit organizations.
With the new funding in place, Zoove plans to continue enhancement and expansion of the StarStar platform — including solutions for both enterprise companies and consumers. Most recently, the company announced StarStar Me, which allows individuals to obtain their own vanity phone number, such as **CHLOE or **MOVIEGUY, through all major carriers. The company will continue to roll out enhancements to the StarStar Me mobile app and experience, as well as continue to expand their enterprise marketing and sales initiatives with an emphasis on demand generation.
“We invest in companies that are innovators in fast-growing markets, and Zoove is a clear leader in mobile marketing,” said Mike Lee, General Partner at Rogers Venture Partners. “Zoove has quickly attracted big name brands from many different industries, and is committed to expanding its portfolio across consumer and business brands.”
“As early Series A investors in Zoove, we have been immensely pleased with the company’s rapid innovation and growth to date, and we look forward to more in the future,” said Mike Orsak, General Partner of Worldview Technology Partners. “We are convinced that StarStar is a game-changer for the mobile industry, and the recent adoption, new clients and consumers signed shows the industry believes this as well.”
“This funding is a tremendous endorsement of our technology, growth and potential. I am extremely excited about the future for this company, the level of expertise and proprietorship behind the products and almost limitless opportunity for mobile marketing across the globe,” states Joe Gillespie, CEO of Zoove Corp. “We are proud that these venture funds have chosen to invest in Zoove, enabling us to accelerate our national growth.”
To learn more about the StarStar solutions, please visit www.zoove.com or simply call **STARSTAR from any mobile device.
About Zoove
Zoove Corporation is the exclusive provider of StarStar and StarStarMe, a unique mobile phone number that connects people with the things they care about most — great content, favorite brands, and one another. Enabled across all major U.S. carriers, the StarStar platform empowers marketers to leverage media, mobile and marketing through a single platform, in order to create any offline-to-online brand experience they desire. StarStar drives millions of calls every year for the world’s top brands including CBS, Dunkin’ Donuts, Ford, Hyatt, NFL and Verizon Wireless. With offices in Chicago, New York and San Francisco, Zoove’s solutions and mobile expertise enable marketers to deliver a more relevant on-the-go customer experience with unprecedented real-time metrics and media efficacy. To learn more, please visit www.zoove.com or simply call **STARSTAR from any mobile device.
About Highland Capital
At Highland Capital Partners, we have always been focused on one goal: to help great people build great companies. Since our inception in 1988, we have invested in over 200 seed, early and growth stage companies — 90 of which have gone public or been acquired to date. We emphasize a team-oriented approach in providing the right mix of strategic guidance, hands-on leadership and deep industry domain expertise in helping entrepreneurs and their teams to become market-leading organizations. Visit www.hcp.com for more information.
About Panorama Capital
Panorama Capital was founded in 2005 by a team of experienced venture investors who had worked together for many years managing the venture business at JPMorgan Partners. During our tenure at JPMP, we completed 25 IPO’s and successfully sold more than 20 companies to strategic buyers. Our investment philosophy is to seek out and invest in exceptional management teams building companies that can become market leaders in their categories. Whether a business is at the start-up phase or experiencing rapid growth, Panorama seeks to invest in entrepreneurs who are clearly passionate about their company and skilled at navigating the complex challenges that lay ahead. More at www.panoramacapital.com
About Rogers Ventures
Rogers Venture Partners (“RVP”) was established in 2012 as a newly minted $150M venture capital fund headquartered in Palo Alto. The RVP team brings a wealth of global operating and investing experience. At RVP, every one of the partners has an operating background and, most importantly, all came from the high tech industry. As a result, our partners are deeply rooted in the operating ecosystem, allowing portfolio companies to better develop key partnerships and establish meaningful customer contracts. We look to take active roles within each portfolio company and are committed to working towards a common vision of revolutionizing the status quo.

About Worldview Technology Partners
Worldview Technology Partners was founded in 1996 and is a leading venture capital firm focused on investing in and building leading U.S. technology companies. Their comprehensive business development services help their portfolio companies succeed in U.S. and international markets. The Worldview team — now on their fourth fund — has both the experience and the resources to invest in a broad range of information technology markets, including communications, semiconductors, Internet/digital media, wireless, enterprise infrastructure and software.

Contact Information
Contact:
Mark Ballard
212-680-0179
Email Contact

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Locust Walk Partners, a transaction advisory firm that supports biopharmaceutical companies, has hired Chris Ehrlich as managing director. Based in San Francisco, Ehrlich will be responsible for expanding and managing the firm’s west coast practice.

PRESS RELEASE

Locust Walk Partners, LLC, a transaction advisory firm that supports biopharmaceutical companies, is pleased to announce that biotech industry and venture capital veteran Chris Ehrlich has joined the firm as Managing Director. Based in San Francisco, Mr. Ehrlich will be responsible for expanding and managing the firm’s west coast practice.
Prior to Locust Walk, Mr. Ehrlich was a Managing Director at InterWest Partners, during which time he served on the boards of KAI Pharmaceuticals (acquired by Amgen) and Biomimetic Therapeutics, Inc. (acquired by Wright Medical Technologies). He currently sits on the boards of Transcept Pharmaceuticals (NASDAQ: TSPT), Carbylan BioSurgery and Xenon Pharmaceuticals. Prior to joining InterWest, Mr. Ehrlich was Director, Licensing and Business Development at Purdue Pharma. In this position, he was responsible for developing and executing a biologic oncology strategy, including in-licensing key intellectual properties, establishing and managing collaborations with biotechnology companies and participating in the commercial operations of Purdue BioPharma, a biotechnology company located in Princeton, NJ. Prior to joining Purdue, Mr. Ehrlich worked in business development at Genentech, in venture capital at The U.S. Russia Investment Fund, and in biotechnology strategy at LEK Consulting.
“I am very pleased to be joining Locust Walk Partners at this inflection point in its lifecycle,” commented Mr. Ehrlich. “The firm has built a high quality reputation for and demonstrated a track record of success in executing high value strategic transactions. It is an ideal platform from which to help companies achieve their business and corporate development objectives.”
“We are thrilled to have an individual of Chris’ caliber on the Locust Walk team and look forward to the significant value he will bring to our firm and our clients,” said Jay Mohr, Managing Director. Geoff Meyerson, Managing Director, added “Chris’ breadth of contacts and industry knowledge will be an asset to our clients.”
About Locust Walk Partners
Locust Walk Partners has an established reputation for executing high-value transactions for prominent biopharmaceutical clients. Our teams are composed of seasoned operating executives who bring insight, analytics and discipline into every deal process and strategic engagement.
We are located in the biotech hubs of Cambridge, MA and San Francisco, CA. www.locustwalkpartners.com
Contact Information
Contact Information:
Jay Mohr
[email protected]
617-300-0174

Geoff Meyerson
[email protected]
617-300-0162

Chris Ehrlich
[email protected]
415-994-0582

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Polaris Private Equity has acquired HTC Sweden, a global developer and manufacturer of professional floor grinding systems and floor solutions. Polaris has acquired the company from Håkan and Gunn Thysell. 3i Group and former management, who held 40%, have also sold their interest in the company to Polaris.

PRESS RELEASE

Polaris Private Equity (“Polaris”), a leading Danish/Swedish mid-market private equity investor, has successfully acquired HTC Sweden AB (“HTC” or “the Company”), the leading global developer and manufacturer of professional floor grinding systems and floor solutions.
Polaris has acquired the Company from Håkan and Gunn Thysell, who founded HTC in 1987 and have remained majority owners with a 60% stake. 3i Group and former management, who held 40%, have also sold their interest in the company to Polaris, in what is the firm’s sixth platform investment since the start of 2012.
Headquartered in Söderköping, Sweden, HTC has been growing rapidly in recent years, driven by expansion into new geographic markets and the launch of new products. The company has 165 employees, and subsidiaries in the US, Germany, the UK and France, with coverage of an additional 60 countries through distribution partners. In 2012, the Company generated revenues of SEK 370m and EBITDA of SEK 58.5m.
HTC creates value for its customers through new methods for floor preparation and floor solutions which are cheaper, sturdier, more environmentally friendly and longer-lasting compared to other options available on the market today. HTC’s strong focus on innovation has resulted in global market leadership within floor grinding machines, polished concrete (HTC SuperfloorTM) and diamond cleaning systems (TwisterTM).
Polaris will now focus on supporting HTC in an ambitious growth strategy, based on organic and acquisitive expansion. The company will seek to consolidate its position in key geographies such as Europe and the US, as well as to extend its offering into emerging markets such as China and Brazil. Polaris will also continue the focus on innovation that has created strong customer loyalty and provided the Company with a competitive advantage.
Peter Ankerst, Partner at Polaris, commented:
“We are delighted to have completed the buyout of HTC Sweden. This is a highly scalable business led by an impressive, visionary management team, which has shown its credentials in recent years, growing both revenues and margins despite tough economic conditions. There are now exciting opportunities to transform HTC into a truly global leader in its field, and we look forward to helping the company deliver on these growth plans.”

Lars Landin, CEO of HTC, added:
“HTC has seen a strong expansion in recent years, with both the Twister and Hardware divisions contributing positively to top-line growth and earnings. Having Polaris as a new owner will give us wider access to the skills and capital resources required for the company to reap the benefits from the next stage of development which includes increased penetration and several near term growth venues.”
Lars Landin and the rest of the management team will also invest in HTC. -ENDS-
For further information please contact: Polaris
Peter Ankerst, Partner
HTC Sweden
Lars Landin, CEO
NOTES TO EDITORS
+46 701 302830 [email protected]
+46 765 266484 [email protected]
About Polaris Private Equity (www.polarisequity.dk)
Polaris Private Equity is a Danish private equity fund, based in Copenhagen, focusing on buy-out investments in well-established small and midcap companies in Denmark and Sweden. Polaris has €635 million under management in two funds. Polaris focuses on investments in companies with development potential and a typical turnover of €25-200 million. To date, Polaris has invested in 28 companies and exited 14. In addition, around 50 successful investments have been made within the portfolio companies.
About HTC Sweden (www.htc-floorsystems.com)
HTC Sweden AB (“HTC”) is the leading global developer and manufacturer of professional floor grinding systems and floor solutions, and is the number one player globally in terms of installed machines and technology. HTC is headquartered in Söderköping, Sweden with subsidiaries in the US, Germany, UK and France and covers an additional 60 countries through distribution partners. In 2012, the Company generated revenues of SEK370m and EBITDA of SEK 58.5m.
HTC operates two divisions: Hardware – encompassing grinding machines and tools; and Twister – a diamond-based pad used in the cleaning industry. The Hardware division has been the market leader for over 20 years, while the diamond-based cleaning system, TwisterTM, launched in 2006 represents another successful invention which is rapidly gaining ground and taking market share.

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Saban Brands has appointed Jack Sorensen as president of The Playforge, the company’s mobile social games division based in San Francisco. Sorensen will be responsible for overseeing the development of uniquely charming character-based mobile games for mass audiences.

PRESS RELEASE

Saban Brands has appointed Jack Sorensen as president of The Playforge, the company’s mobile social games division based in San Francisco. Sorensen will be responsible for overseeing the development of uniquely charming character-based mobile games for mass audiences. Sorensen will also lead efforts to expand, promote, and monetize The Playforge’s digital IP, including its flagship mobile title Zombie Farm, through transmedia extensions within traditional media, licensing and merchandising.

“We look forward to Jack’s expertise and insights on our plans to deliver a steady stream of new games, new intellectual properties and new strategic collaborations this year”
“Jack brings a wealth of experience in gaming and digital entertainment that will be a tremendous asset to Saban Brands as we work toward our goal of further expanding our reach from online and television to mobile,” said Elie Dekel, president of Saban Brands. “His extensive experience combined with his recent work as an entrepreneur and advisor in the mobile game industry make him uniquely suited to take The Playforge to the next level.”

A seasoned executive with more than 20 years of game industry experience in both public and private companies, Sorensen brings proven skills in building and managing high growth businesses in technology and entertainment. Sorensen has managed some of the biggest brands in interactive gaming, including Star Wars, Indiana Jones, Pixar (six films), Dreamworks (two films), The Sopranos, UFC, Marvel and numerous original properties.

“We look forward to Jack’s expertise and insights on our plans to deliver a steady stream of new games, new intellectual properties and new strategic collaborations this year,” said Vince McDonnell, co-founder of The Playforge.

“I am honored to have been provided with the opportunity to further grow such a talented studio’s leadership position in the digital space,” said Sorensen. “Saban Brands has undertaken ambitious initiatives to expand its digital footprint in the last year and I am excited to continue that momentum in the months to come.”

Sorensen previously served as executive vice president of Worldwide Studios at THQ, Inc., a prominent video game developer and publisher, where he was responsible for overseeing all product development, business development and development acquisitions. During his time at THQ, Sorensen managed the product slate that supported more than $1 billion in revenue.

Prior to his role at THQ, Sorensen served as an executive in residence at Crosspoint Venture Partners, a leading technology venture capital firm, and as president at LucasArts Entertainment, where he grew its electronic games business into a Top 5 domestic publisher.

About The Playforge

The Playforge is a pioneer and leader in the mobile social games space and was one of the first iOS developers to sell virtual currency redeemable for virtual goods. Known for its internationally acclaimed game Zombie Farm, The Playforge specializes in developing uniquely charming character-based games for general audiences. As of the end of 2011, Zombie Farm was the No. 1 top grossing free-to-play application of all time and was in the Top 10 grossing iPhone apps on Apple’s iTunes Rewind in both 2010 and 2011. The Playforge is an affiliate of Saban Brands.

About Saban Brands

Formed in 2010 as an affiliate of Saban Capital Group, Saban Brands (SB) was established to acquire and develop a world-class portfolio of properties and capitalize on the company’s experience, track record and capabilities in growing and monetizing consumer brands through content, media and marketing. SB applies a global omni-channel management approach to enhancing and extending its brands in markets worldwide and to consumers of all ages. The company provides full-service management, marketing, promotion and strategic business development for its intellectual properties including comprehensive strategies unique to each brand, trademark and copyright management and enforcement, creative design, retail development, direct-to-consumer initiatives and specialized property extensions. SB is led by a superior management team with decades of experience in media, content creation, branding, licensing, marketing and finance. SB’s portfolio of properties currently includes Power Rangers, Paul Frank, Vortexx, Zui.com, The Playforge, Julius Jr., Digimon Fusion and Popples.

Contacts

Saban Brands
Kelsey Lynch, 310-203-5875
[email protected]

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Bay City Capital has appointed David Beier as managing director. Beier served as a senior officer for nearly a decade in biotechnology firms, Genentech and Amgen. Most recently, he served as senior vice president of global government affairs at Amgen, responsible for global government affairs, as well as corporate communications, and philanthropy.

PRESS RELEASE

Bay City Capital, a leading venture capital firm focused on early-stage to growth equity investments in the life sciences, today announced the addition of David Beier, JD as Managing Director. David served as a senior officer for nearly a decade in each of the two largest biotechnology firms, Genentech and Amgen. Most recently, David served as Senior Vice President of Global Government Affairs at Amgen, responsible for global government affairs, as well as corporate communications, and philanthropy.

“Today’s rapidly evolving healthcare industry provides tremendous opportunity for investment both in the United States and globally. David brings an extensive government affairs and public policy background, providing unique insights to our investment team”
“Today’s rapidly evolving healthcare industry provides tremendous opportunity for investment both in the United States and globally. David brings an extensive government affairs and public policy background, providing unique insights to our investment team,” said Fred Craves, Founder and Managing Director of Bay City Capital. “David will play an integral role in moving the firm forward through the next phase of global healthcare investing.”

During his Amgen tenure, David helped create and supervised the firm’s coverage, reimbursement, access, pricing, and healthcare economics activities globally. Earlier in his career, David was Chief Domestic Policy Advisor to Vice President Al Gore during the Clinton Administration. Mr. Beier has been a partner in a large international law firm as well as Counsel to the US House of Representatives Committee on the Judiciary. He is admitted to practice law in New York and the District of Columbia.

“Bay City Capital has a well deserved reputation of delivering value for its investors and its portfolio companies through a vibrant platform of scientific and business acumen. Those characteristics are what attracted me to the firm,” said David Beier.

About Bay City Capital

Bay City Capital is a life sciences venture capital firm investing in opportunities across the various life sciences sectors in companies at all stages of development. Established in 1997, the firm has managed eight venture capital funds representing over $1.6 billion in capital commitments.

Bay City Capital has invested in over 100 life sciences companies globally, including Epizyme, Epocrates, GenturaDx, Hyperion Therapeutics, Ion Torrent Systems, Lexicon, MAP Pharmaceuticals, Medarex, Nabsys, NextWave Pharmaceuticals, Oculex Pharmaceuticals, Pharmion, Reliant Pharmaceuticals, and Sunesis Pharmaceuticals.

Contacts

Bay City Capital
Stacey M. Leaños, 415-835-9394
Sr. Director, Marketing & Investor Relations
[email protected]

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GTCR has acquired NewWave Communications from Pamlico Capital. The acquisition was completed through GTCR’s previously established partnership with Rural Broadband Investments.

PRESS RELEASE

GTCR, a leading private equity firm, today announced it has acquired NewWave Communications (“NewWave”) from Pamlico Capital. The acquisition was completed through GTCR’s previously established partnership with Rural Broadband Investments (“RBI”). With RBI’s extensive cable experience, NewWave will continue to provide state of the art high-speed broadband, video and voice services to its cable footprint.

“GTCR has been evaluating numerous opportunities within the cable industry”
GTCR, in partnership with Phil Spencer, formed RBI in 2012 with the purpose of acquiring broadband infrastructure assets in small and mid-sized communities. NewWave is the 22nd largest MSO in the country passing approximately 250,000 homes and serving over 90,000 customers in rural Illinois, Indiana, Missouri and Arkansas. This is the first in a series of acquisitions being pursued by RBI, which plans to acquire 300,000-400,000 cable subscribers in small-to-mid sized rural markets to deliver a breadth of services to residential and commercial customers.

“The acquisition of NewWave Communications is a great first step and provides us with an excellent platform to build upon,” said Mr. Spencer, CEO of Rural Broadband Investments. “NewWave has done an outstanding job upgrading its network, moving to DOCSIS 3.0 and constructing fiber to tie their markets together. These efforts give us an outstanding platform to roll out enhanced video, voice and high-speed internet services as well as advanced commercial services. In addition, NewWave has an outstanding employee base and we plan to continue to build on the great work they have done over the last several years.”

“GTCR has been evaluating numerous opportunities within the cable industry,” stated Phil Canfield, Managing Director at GTCR. “We were very fortunate to have former FCC Chairman Reed Hundt working with us as we developed our investment thesis and sourced the team. The NewWave acquisition is an exciting opportunity and the ideal starting point from which to build our investment in the industry. We look to build a leading cable platform through increasing high-speed data penetration, growth in commercial services and accretive acquisitions.”

Added Mr. Hundt, also a Senior Advisor to GTCR and new RBI board member, “With the transformation taking place in the cable industry and RBI’s business model to provide high speed broadband connectivity to small-to-middle sized markets and rural geographies, I think Phil Spencer will be a dynamic change leader for both the industry and RBI. I look forward to working with him and being a part of this exciting time within the cable industry.”

GTCR’s investment in NewWave will be made from GTCR Fund X, a private equity fund with $3.25 billion of committed capital.

Kirkland & Ellis LLP served as legal counsel and PriceWaterhouseCoopers served as accounting advisor to GTCR. SunTrust Robinson Humphrey, Inc. (STRH) served as exclusive financial advisor to GTCR. STRH and Goldman Sachs Bank USA have committed to provide the debt capital to support the transaction and will serve as Joint Lead Arrangers and Joint Bookrunners on the financing. Waller Capital Partners served as an advisor to Rural Broadband Investments.

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™ – 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.

About Rural Broadband Investments

Rural Broadband Investments, headquartered in Overland Park, Kansas, acquires and invests in rural-focused cable systems serving residential and commercial customers in small-to-middle sized markets and rural geographies.

Contacts

for GTCR
Eileen Rochford, 312-953-3305

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Adveq has appointed Ron Li as head of China. Li joined Adveq as a managing director in early January 2013 and is based in the firm’s Beijing office. In his role as head of China, Li will further develop Adveq’s position in China.

PRESS RELEASE

Adveq, a leading asset manager investing in private equity and real assets globally, announces the appointment of Ron Li as Head of China.

Ron Li joined Adveq as a Managing Director in early January 2013 and is based in the firm’s Beijing office. In his role as Head of China, Ron is responsible to further develop Adveq’s position in China as a world leader in private equity and real assets.

Prior to joining Adveq, Ron worked for Legend Holdings in China where he established Raycom Real Estate Asset Management. Before joining Raycom he worked for Legend’s private equity subsidiary, Hony Capital. Earlier in his career Ron also worked for Whirlpool Corp. both in the United States and in China. He started his career as an entrepreneur.

Ron holds an MBA from the University of Michigan, an MA in Economics from the State University of New York at Stony Brook, US, and as a Bachelor’s Degree in Finance from Renmin University of China.

Sven Lidén, CEO of Adveq, said: “We are delighted to welcome Ron Li to our team. He combines an extensive track record in local investing with his exposure to international governance standards and an entrepreneurial mindset, which will undoubtedly benefit our clients. Adveq’s investment activities in Asia date back to 1998 and our presence in Beijing and Shanghai underscores the strategic importance we place on China. “.

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About Adveq
Founded in 1997, Adveq is a leading asset manager investing in private equity and real asset funds globally. It offers specialized investment solutions which allow the firm’s clients to access select private market segments globally. To date, Adveq has invested in more than 400 funds on behalf of its clients and generated consistent returns throughout economic cycles. Adveq’s client base comprises institutional investors such as pension funds, insurance companies, family offices and other financial institutions located in Europe, North America and the Asia-Pacific region. Many of Adveq’s investors are repeat, long-term clients with whom the firm has developed a role as a trusted partner for private market investing. Adveq has offices in Zurich, Frankfurt, New York, Beijing, Shanghai and Hong Kong, as well as a representative office in Sydney.

Further information
Alexander Antic
E-Mail: [email protected]
Tel.: +41 (0)58 445 55 30

Adam Leviton/Alex Jones (on behalf of Adveq)
E-Mail: [email protected]
Tel.: +44 (0)207 307 5339

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Marina Jané Sánchez
Consultant
81 Whitfield Street, London, W1T 4HG, UK
T: +44 (0) 20 7307 5326 M: +44 (0) 7535 693 214 E: [email protected]

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Wochit has closed a $4.75 million series A venture capital round from Redpoint Ventures, Cedar Fund and Greycroft Partners. Wochit provides web publishers with a supply of ever-fresh news video.

PRESS RELEASE

Wochit Inc., which provides web publishers with a constant supply of ever-fresh news video, has closed a $4.75 million series A venture capital round from Redpoint Ventures, Cedar Fund and Greycroft Partners. The company is using the proceeds to accelerate go-to-market efforts, including new initiatives with its customers on producing, syndicating and monetizing videos about any topic as news happens.
“Web publishers are seeking ways to distinguish themselves from competitors with rich and engaging content, and Wochit fulfills that need with its innovative model for video production and distribution,” says Dean Gilbert, who is a venture partner with Redpoint and a senior advisor to YouTube. “Wochit brings advantages in quality, flexibility, cost, scale and timeliness of video to open new revenue opportunities for publishers.”
Wochit’s customers include web sites, mobile applications, news organizations, blogs and other publishing entities. The company combines advanced technology with production expertise to create hundreds of news videos daily that publishers can select and integrate based on which ones match topics of interest for their audiences. New initiatives by Wochit include organization of content by channels about particular subjects, which customers can embed as feeds that are automatically refreshed with new, topical video. Additionally, customers have expanding white-label publishing options such as videos with promotion of their brands, incorporation of their media and basis in their stories.
“This financing positions Wochit to continue enhancing the work we do with our growing customer base, including white-label production, expanding ad monetization and more options for embedding Wochit’s ever-fresh videos,” says Wochit co-founder and CEO Dror Ginzberg. “As Wochit continues growing, we gain additional benefits from the expertise that Redpoint, Cedar and Greycroft bring as established supporters of entrepreneurial innovations in media.”
Redpoint Ventures, Cedar Fund and Greycroft Partners are all distinguished by their records of backing companies that transform production, distribution and consumption of media. Within these activities, Redpoint and Cedar previously worked with Wochit co-founder and CTO Ran Oz on BigBand Networks (IPO, acquired by Arris Group), for which he was also a co-founder and CTO.
“The Wochit team is unique in combining expertise both in the craft of video production and in multiple relevant technologies,” says Cedar Fund managing partner Gal Israely. “We are thrilled to work with Wochit on accelerating the company’s impressive growth, including innovative new ways that web publishers can showcase ever-fresh content, incorporate their own perspectives and monetize.”
About Wochit:
Wochit produces ever-fresh, studio-quality video about any topic as news happens. Web sites, mobile applications, news services, blogs and other publishing entities utilize the company’s platform for new revenue opportunities and better audience engagement. By working with Wochit, a publisher economically achieves the effect of having its own newsroom for video production. Backed by Redpoint Ventures, Cedar Fund and Greycroft Partners, Wochit is based in New York with offices in Tel Aviv.
Contact Information
Media contact:
Seth Kenvin
(415) 672-5548
[email protected]

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Silicon Legal Strategy has added Coleman Cannon as a senior associate in its San Francisco office, marking the firm’s fourth strategic hire in 2013. Coleman brings expertise in advising startups, entrepreneurs, venture capital funds and angel investors in venture financings, M&A transactions and complex commercial agreements to the fast-growing team at SLS.

PRESS RELEASE

Silicon Legal Strategy today announced the addition of Coleman Cannon as a senior associate in its San Francisco office, marking the firm’s fourth strategic hire in 2013.
Coleman brings his expertise in advising startups, entrepreneurs, venture capital funds and angel investors in venture financings, M&A transactions and complex commercial agreements to the fast-growing team at SLS. He provides SLS clients with day-to-day counseling across the range of legal issues facing early and growth-stage businesses.
Before joining Silicon Legal, Coleman practiced at Silicon Valley boutique law firm Montgomery & Hansen, LLP, where he counseled technology companies and investors in connection with financing and M&A transactions. Coleman also regularly advised companies on structuring and negotiating various commercial agreements, technology development agreements and strategic transactions.
Coleman began his career in the corporate group at Fenwick & West LLP in Mountain View and San Francisco, where he represented technology companies and leading venture capital firms in financing and M&A transactions and advised startups on day-to-day corporate, commercial, employment and IP-protection matters.
Coleman earned his B.A. from the University of Wisconsin-Madison and his J.D. and M.A. from the University of Minnesota.
“SLS is leading the way in providing entrepreneurs, startup teams and investors with not only top-notch legal advice but also ultra-responsive client service,” said Coleman Cannon. “I’m thrilled to become a part of such a talented team and to continue developing deep relationships with startups, entrepreneurs and VCs in the tech community.”
“Coleman’s strong startup experience and practical, business-minded approach will bring a great deal of value to our rapidly expanding client base,” said Andre Gharakhanian, partner at Silicon Legal Strategy. “We’re excited to be adding yet another elite team member to our practice, and we’re looking forward to continued growth this year.”
About Silicon Legal Strategy
Silicon Legal Strategy is the premier boutique law firm providing targeted, bottom-line-oriented advice to technology startups, innovative entrepreneurs and seasoned investors. Trained at the top firms in Silicon Valley, our attorneys and staff are incredibly passionate about technology and have extensive experience representing early stage companies and investors. We are a known quantity in Silicon Valley, and work with or sit across the table from every major law firm in the area. Perhaps most importantly, we ourselves are entrepreneurs. We truly understand the challenges of a startup — like building and motivating a team, creating repeatable processes to ensure continued customer satisfaction at scale and dealing with infrastructure issues. We face these challenges every day — and as a result, are able to deliver more relevant, bottom-line-oriented advice. Put simply, we actually “get” what entrepreneurs are going through.

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