Author: Luisa Beltran

BlackArch Partners has opened a regional office in Houston. John Bresnahan, a former Duff & Phelps Securities MD, is joining to build out the Houston office. BlackArch is a middle-market investment bank based in Charlotte, N.C.

PRESS RELEASE

BlackArch Partners (www.blackarchpartners.com), a leading middle-market investment bank headquartered in Charlotte, N.C., announced today that it is opening a regional office in Houston, Texas.  This will be the first office expansion for BlackArch, whose professionals have a long history in Texas.  John Bresnahan, a former colleague of several BlackArch principals, will join the firm to build out the Houston office.
Drew Quartapella, a founding partner of BlackArch and native of Houston, commented, “BlackArch is aggressively targeting key markets to expand our M&A advisory business and to leverage the strengths of our platform.  The Texas market is very important to BlackArch.  We have enjoyed tremendous success there with our private equity and private company clients and we look forward to building on our momentum with our clients in this region.”
Bresnahan will be joining a BlackArch team that has collectively more than 150 years of middle market experience and has closed more than 300 transactions.  According to Will Cooper, also a founding partner of BlackArch and co-head of BlackArch’s Energy practice, “We are delighted to have John Bresnahan, a trusted colleague and an exceptional banker with deep relationships in Houston, rejoin our leadership team to continue expanding our presence in this region.”
Bresnahan has over 12 years of middle market mergers and acquisitions advisory experience, including sellside and buyside engagements, as well as corporate divestitures, recapitalizations, private placements and strategic advisory assignments.  His advisory experience includes a significant focus on Energy sector equipment manufacturers and service providers, complemented by broad transaction experience in other key BlackArch industries, including Infrastructure & Construction; Industrial Growth & Diversified Manufacturing; Distribution & Supply Chain Management; Consumer & Retail; Healthcare Products & Services; Transportation & Logistics; and Business & Professional Services.
Prior to joining BlackArch, Bresnahan was a Managing Director at Duff & Phelps Securities, formerly Growth Capital Partners, and, before that, was an officer with both Edgeview Partners in Houston and Harris Williams & Co.
Bresnahan holds a B.S. from Cornell University’s Dyson School of Applied Economics and Management and an MBA from the University of Virginia’s Darden Graduate School of Business. He is a founding member and serves on the steering committee of the Houston Symphony’s Young Associates Council.
-end-
BlackArch Partners is a middle-market investment bank that offers investment banking advisory services to Financial Sponsors, Private Companies and Diversified Corporations.  BlackArch addresses the needs of entrepreneurs, founders and shareholders of Private Companies with specialized services that include M&A Advisory, Strategic Advisory and Private Capital solutions.  Based in Charlotte, N.C., BlackArch covers all industries of interest to middle-market investors, and its professionals have closed over 300 transactions in 16 countries on four continents.  Please visit our website, www.blackarchpartners.com, for more details.

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Motif Investing has raised an additional $25 million in financing from a group of investors including Goldman Sachs & Co. and existing Motif investors Foundation Capital, Ignition Partners and Norwest Venture Partners. San Mateo-based Motif is an online broker. Darren Cohen, Managing Director of Principal Strategic Investments at Goldman, is joining Motif’s board as an observer.

PRESS RELEASE

Motif Investing, the company that pioneered ideas-based stock investing, announced it has raised an additional $25 million in financing from a group of investors including Goldman Sachs & Co. and existing Motif investors Foundation Capital, Ignition Partners and Norwest Venture Partners.
Darren Cohen , Managing Director of Principal Strategic Investments at Goldman, is joining Motif’s board as an observer. This coupled with the investment is expected to deepen the firm’s relationship with Motif.
“We are thrilled Goldman Sachs has decided to invest in our vision of bringing low-cost, transparent, theme-based investing to a broader audience,” said Hardeep Walia , chief executive and co-founder of Motif. “Since our launch last year, we have consistently added new features to our service, and it is great to have access to the deep expertise of Goldman Sachs to help us bring more value to our customers in the future.”
“We are pleased to be an investor in Motif, a company that has taken an innovative approach to traditional investing,” said Cohen.
Motif allows customers to invest online in theme-based portfolios of stocks, bonds and ETFs called motifs. Many of the motifs—which focus on themes as diverse as tablet computing, healthy foods and global inflation—are assembled by Motif’s in-house research team and cost $9.95 to purchase. Earlier this year, Motif added a new feature allowing individuals, brands and registered investment advisers to build their own motifs from scratch. Later this year, Motif will allow other customers to discover and buy these “BYO” motifs on its site, enabling the motifs’ creators to market their own investment ideas and receive compensation through a royalty program.
About Motif Investing
Motif Investing is an online broker that lets you invest in a world of big ideas. The company, based in Silicon Valley, is changing the face of online investing through an innovative, transparent social platform that allows individuals and investment advisers to invest in stock and bond portfolios built around everyday ideas and broad economic trends—and even create brand-new motifs from scratch. Motif is a registered broker-dealer and a member of SIPC. The company’s investors include Foundation Capital, Goldman Sachs, Ignition Partners and Norwest Venture Partners. Board members include former SEC Chairman Arthur Levitt and former Wall Street executive Sallie Krawcheck . Learn more at https://www.motifinvesting.com.
Investing in securities involves risk. Customers who invest in motifs are responsible for making their own investment decisions, and may lose some or all of the money they invest. An investment in individual stocks, or a collection of stocks focused on a particular theme or idea, such as a motif, may be subject to a greater risk of price fluctuation as compared to a more diversified portfolio of investments, because adverse developments affecting the particular industry or sector in which you are concentrated could adversely affect your entire investment. Motif Investing is not an investment adviser and does not endorse or recommend any particular motif or other investment strategy. Standard pricing is $9.95 per motif and $4.95 per individual stock transactions, other fees may apply.

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Apollo Global Management said Friday it priced ALME Loan Funding 2013-1, a €325 million (US$426 million) Collateralized Loan Obligation. ALME-1 is Apollo’s first European CLO and it will invest in corporate leverage loans.

PRESS RELEASE

Apollo Global Management, LLC (NYSE: APO) and its subsidiaries (collectively “Apollo”) today announced the pricing of ALME Loan Funding 2013-1 (“ALME-1”), a €325 million Collateralized Loan Obligation (CLO). ALME-1 is Apollo’s first European CLO, and will invest primarily in corporate leveraged loans.

Apollo is among the largest CLO managers in the world and is the largest CLO manager in the United States1, with 28 CLOs totaling nearly $15 billion in assets under management.2 Since the beginning of 2012, Apollo has priced four CLOs, raising approximately $2 billion in aggregate. Apollo’s CLO strategy is a core part of the firm’s credit business, which had total assets under management of more than $64 billion as of December 31, 2012. ALME-1 further expands Apollo’s sizeable presence in the European credit markets, which have been a key source of growth for Apollo over the past several years.

This is not an offer to sell or a solicitation of any offer to buy any securities. Offers will be made only by a prospectus or other offering materials.

Any securities issued by the issuer (the Securities) can not be offered or sold in the United States unless registered under the U.S. Securities Act of 1933, as amended (the Securities Act), or offered and sold pursuant to an exemption from registration under the Securities Act. Any offer of the Securities registered under the Securities Act will be made by means of a prospectus that may be obtained from the issuer or selling security holder and that will contain detailed information about the issuer and management, as well as financial statements.

About Apollo Global Management

Apollo is a leading global alternative asset manager with offices in New York, Los Angeles, Houston, London, Frankfurt, Luxembourg, Singapore, Mumbai and Hong Kong. Apollo had assets under management of more than $113 billion as of December 31, 2012, in private equity, credit and real estate funds invested across a core group of nine industries where Apollo has considerable knowledge and resources. For more information about Apollo, please visit www.agm.com.

1 Based on CLO assets under management as of December 31, 2012 per Standard & Poor’s.

2 Apollo CLO statistics pro-forma for ALME-I.

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Elevation Resources said Friday it obtained a $400 million line of equity financing from an investor group led by Pine Brook. Midland, Texas-based Elevation focuses on acquisition, leasing, exploration and development activities on the Permian Basin.

PRESS RELEASE

Elevation Resources LLC (“Elevation”) today announced it has obtained a $400 million line of equity financing from an investor group led by Pine Brook, a New York-based investment firm focused on building businesses in the energy and financial services sectors.

Elevation was recently formed by Steven H. Pruett, president and CEO; Gary Dupriest, EVP and chief operating officer; Gary Causey, vice president-exploration and Tim Reece, vice president-land.  Elevation will focus its acquisition, leasing, exploration and development activities on the Permian Basin, with a particular emphasis on horizontal drilling opportunities in the Delaware and Midland basins.  The company has opened an office in downtown Midland at Centennial Plaza.  The management team has hired former colleagues of Dupriest, Causey and Reece, and is continuing to build its technical and administrative staff.

Steve Pruett commented, “I am fortunate to have partners of the caliber of Gary Dupriest, Gary Causey and Tim Reece.  Coupling their operating expertise with the financial wherewithal and strategic guidance of Pine Brook makes for a strong foundation from which to launch a Permian-focused oil and gas resource development company.”

Gary Dupriest added, “My colleagues and I are pleased to join Steve and the team at Pine Brook to create and grow a substantial player in the Permian Basin.”

Craig Jarchow, a managing director on Pine Brook’s energy investment team, stated, “Pine Brook is pleased to partner with Elevation.  This is the right team pursuing the right opportunity at the right time. We have known Steve Pruett for years, so we know first-hand the strong commercial and leadership skills he brings to this opportunity.

About Elevation Resources
Elevation Resources LLC is an independent oil and natural gas company headquartered in Midland, Texas, whose mission is to develop oil and natural gas resources in the Permian Basin in an economical, sustainable and scalable manner.

About Pine Brook
Pine Brook is a New York-based private equity firm that makes equity investments in new and growing energy and financial services businesses. Pine Brook partners with experienced entrepreneurs and talented management teams to build sustainable, profitable businesses. For more information, please visit the company’s web site at www.pinebrookpartners.com.

 

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Advanced Animal Diagnostics said Wednesday it closed a $6 million tranche of Series B financing from Intersouth Partners, Novartis Venture Funds and private investors. Durham, N.C.-based Advanced Animal Diagnostics is developing an on-farm diagnostic test to detect subclinical mastitis in dairy cows.

PRESS RELEASE

Advanced Animal Diagnostics (AAD), a developer of rapid, on-farm diagnostics to improve animal health and productivity, announced today that it closed a $6 million tranche of Series B financing from Intersouth Partners, Novartis Venture Funds and private investors.
Funds will be used to launch AAD’s Qscout™ automated on-farm lab system and Qscout™ MLD rapid on-farm test for mastitis in dairy cows. Proceeds will also develop new tests to detect disease-causing pathogens in hours instead of days required by current tests.
“I understand how frustrating and costly it is to wait for lab results,” says Dr. Ben Shelton , owner of Rocky Creek Dairy, Rocky Creek Veterinary Service and AAD board member. “Producers need fast diagnostic information on the farm that’s cost-effective enough to use widely, and that’s what this funding will help ensure.”
Each test on the market or in development at AAD will be processed by the Qscout™ automated reader, so producers will be able to run multiple tests on the same instrument.
The first test marketed by AAD is the Qscout™ MLD, a new, rapid on-farm milk leukocyte differential (MLD) for faster, more accurate detection of subclinical mastitis in individual quarters. The benefits of minimizing subclinical mastitis in the fresh cow have long been documented through increased milk yield and quality and improved reproduction. A recent study showed detecting subclinical mastitis with the Qscout MLD and treating only infected cows at dry-off also has benefits. Antibiotic use was cut by 47% without an increase in infection rates 10 days after calving when compared to more costly traditional blanket antibiotic treatment. According to AAD, funds will also be used to study use of the Qscout MLD test at other times during lactation.
For more information, call 1-855 Q2COUNT or visit www.advancedanimaldiagnostics.com/Qscout.

About Qscout MLD
AAD’s milk leukocyte differential (MLD) test, to be marketed as Qscout™ MLD, identifies, differentiates and provides the ratio of the three predominant leukocytes (white blood cells) in the milk of each quarter to detect the presence of subclinical mastitis, before symptoms are even visible to the producer. Performing the MLD at critical time points during the lactation cycle, such as soon after calving and at dry-off, allows for informed intervention strategies and better animal health, milk quality and economic outcomes. For more information, please visit http://www.advancedanimaldiagnostics.com/Qscout/.
About Advanced Animal Diagnostics
Advanced Animal Diagnostics (AAD) develops innovative on-farm diagnostics allowing livestock producers and animal health professionals to make informed interventions that improve animal health and ensure a safe, abundant, high quality supply of animal protein. The firm’s first product is a rapid, on-farm diagnostic test for faster, more accurate detection of subclinical mastitis in dairy cows. For more information, please visit www.advancedanimaldiagnostics.com.
About Intersouth Partners
Intersouth Partners is one of the most active and experienced early-stage venture funds in the country, having invested in almost 100 private companies over the last two decades. Founded in 1985, Intersouth Partners manages more than $780 million in seven venture capital limited partnerships, making it the largest venture capital fund in North Carolina and one of the largest in the Southeast. Based in Durham, North Carolina, Intersouth Partners seeks a broad range of seed and early-stage investment opportunities throughout the Southeast, focusing on the technology and life sciences sectors. For more information, please visit www.intersouth.com or follow the firm at @intersouth.
About the Novartis Venture Fund
Established in 1996, the Novartis Venture Fund currently manages over $800 million in committed capital and is invested globally in more than 60 private life sciences companies across therapeutics, vaccines, devices and diagnostics. As a financially driven corporate life science investor, the Novartis Venture Fund invests in those companies which have the potential to lead the next innovation wave in new areas that will be critical to patient care. The Novartis Venture Fund team of ten investment professionals located in Basel, Switzerland, and Cambridge, Massachusetts, brings together extensive expertise in drug development, medical devices and venture capital. www.venturefund.novartis.com

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EMX Capital has collected US$68.2 million with its first fund. The pool, EMX Capital Partners LP, will invest along side the firm’s Mexican side-by-side vehicle which raised Ps.1,544 million pesos (roughly US$124.1 million) from pension funds in Mexico. The combined vehicles obtained US$192.3 million. EMX Capital Partners I will invest in buyout and growth equity opportunities across all sectors and target mid-size Mexican companies requiring equity capital between US$15 million to US$65 million.

PRESS RELEASE

EMX Capital is pleased to announce the closing of EMX Capital Partners LP with total capital commitments of U.S.$68.2 million from local and international investors. EMX Capital Partners LP will invest alongside EMX’s Mexican side-by-side vehicle, which has funding of Ps.1,544 million pesos from Mexican pension funds (approximately U.S.$124.1 million). Therefore, the combined vehicles (“EMX Capital Partners I”) have obtained U.S. $192.3 million of capital.
EMX Capital Partners I will invest in buyout and growth equity opportunities across industry sectors. It seeks to invest in mid-size Mexican companies through equity or equity-linked securities. EMX Capital Partners I targets control investments in companies requiring equity capital of U.S.$15 million to U.S.$65 million per transaction and plans to invest over a five-year period.
The four founders of EMX Capital and senior members of the investment team, Joaquin Avila, Rodrigo Fonseca, Miguel Valenzuela and Andres Obregon, have been working and investing together for the past seven years, initially as the investment team for Carlyle Mexico. EMX Capital seeks to obtain capital appreciation by partnering with management teams and by applying the same successful investment strategy and disciplined investment process implemented in past transactions.
EMX Capital Partners I has made two investments to-date. First, it invested in ILSP, a leading security and logistics service provider, and then in AG Convertidora, a producer of quality flexible packaging.
The EMX partners stated, “We are extremely pleased by investor’s interest in EMX Capital, particularly considering an often volatile fundraising environment. We see highly attractive investment opportunities in Mexico and have a strong and focused team to successfully pursue them.  The fund is off to a solid start, with two investments in thriving mid-sized companies. Each of these initial investments leverages our local network and private equity experience.”

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TPH Partners, the private equity arm of Tudor, Pickering, Holt & Co., has formed Principle Petroleum Partners. Dallas-based Principle is an upstream company focused on the acquisition and development of oil and gas properties in the Rockies, with a primary focus on the Big Horn Basin in Wyoming. TPH would not disclose how much it was committing to Principle. Scott Dobson, the former COO of Nimin Energy, is Principle’s president and COO while Scott Gladden is the EVP of Land and Business Development.

PRESS RELEASE
TPH Partners II, L.P., the middle-market energy private equity fund, is pleased to announce the formation of Principle Petroleum Partners LLC, an independent upstream company headquartered in Dallas, Texas. Principle focuses on the acquisition and development of oil and gas properties in the Rockies, with a primary focus on the Big Horn Basin in Wyoming.

Principle is led by an experienced management team with an established track record of success in their focus area. Company President and CEO, Scott Dobson, has spent a significant portion of his career focused in the Rockies, starting at Merit Energy Company and most recently as the Chief Operating Officer at Nimin Energy Corporation, where he led the development and sale of Nimin’s Big Horn Basin assets in 2012. Mr. Dobson is joined by Scott Gladden, EVP of Land and Business Development at Principle. Mr. Gladden has 11 years of experience in the oil and gas business, including 7 years with Merit Energy Company, where he served as General Counsel and Director of the Land Department.

“We are very happy to be in partnership with these two accomplished upstream veterans, Scott Dobson and Scott Gladden of Principle,” said George McCormick, Managing Partner of TPH Partners. “We look forward to spudding the first well this summer on Principle’s initial asset, and to adding more assets from its robust pipeline of potential transactions. These guys are strongly focused on a basin where their own experience, expertise and relationships should translate into great opportunities for attractive returns.”

“The company is well positioned to exploit an exciting opportunity set in the Big Horn Basin and continue pursuit of additional opportunities throughout the Rockies. We believe that our partnership with TPH Partners will provide us with considerable support toward the growth of Principle,” said Scott Dobson, President and CEO of Principle. “TPH Partners’ technical expertise, relationships and market knowledge will be accretive in the execution of Principle’s business plan, and we are extremely pleased to have the opportunity to work with this team.”

About TPH Partners II, L.P.

TPH Partners, based in Houston, Texas, is the private equity arm of Tudor, Pickering, Holt & Co., LLC, an integrated energy investment and merchant bank. TPH Partners makes private investments in the upstream, oilfield service and midstream subsectors of the energy industry. For more information on TPH Partners, please visit www.tphpartners.com.

About Principle Petroleum LLC

Principle Petroleum Partners LLC is an independent upstream company based in Dallas, Texas.

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Cooltech Applications said Wednesday that it raised €8 million (US$10.4 million) from historical shareholders and two new investors: Demeter Partners and 123Venture. Strasbourg, France-based Cooltech is a specialist in magnetic refrigeration.

PRESS RELEASE

COOLTECH APPLICATIONS, the specialist in Magnetic Refrigeration, has successfully raised €8 M to enable the final industrialization stage of its thermal machine to be implemented prior to its international commercialization by the end of this year.

Cooltech Applications, the first company to propose a global solution which is both ecological and industrial for the refrigeration and air conditioning markets using Magnetic Refrigeration technology, has recently raised €8 M of new capital from both its historic shareholders and two new investors: Demeter Partners and 123Venture.

‘This new fundraising will enable Cooltech Applications to finalize the industrialization of its thermal machine, which is established by the launch of a first line for ‘Series Production’, to enable sales to start by the end of this year as well as to accelerate its international commercialization ‘, announced Sophie Paturle, Partner at Demeter Partners.

Created in August 2003 and based near Strasbourg, Cooltech Applications has developed and industrialized through a € 20 M euro launch aid project – ‘MagCop’ which has been co-financed by France’s Oséo-ISI organization, as a truly authentic and rare rupture technology based upon Magnetic Refrigeration principles. The technology being industrialized addresses a wide range of applications in both the refrigeration and air conditioning markets – commercial refrigeration, industrial or domestic, air conditioning of vehicles and buildings – these varied global markets being measured in Billions of Euros.

‘Reducing the cost of creating ‘cold’ in its various forms has become an indispensible element of our modern global society, where its production and use is currently accompanied by pollution and an energy consumption that needs to be reduced’ added Sophie Paturle. ‘In eliminating completely the need for gas and reducing by half the electricity required for an equal performance in a classic system, the Magnetic Refrigeration technology certainly appears to be the only valid response to-date to face both environmental and economic challenges.”

‘Following an in-depth market study, we selected the industrial refrigerated counter sector as a first market entry point for commercial applications’, announced Christian Muller, CEO and Founder of Cooltech; ‘Production of cold in the supermarket chains represents up to 40% of the electricity consumed, in addition to the 15% of the total related logistic costs, hence magnetic refrigeration will generate an important economic advantage to our future client base. Followed with the supplying of the hybrid & electric vehicle sectors, which has battery performance issues leading to limitations in terms of autonomy, which is even further reduced by 30% if air conditioning is also functioning. The magneto caloric technology – with an inherent defrost capacity due to reversible functionality – appears to be one of the key facilitating technologies for the development of electric vehicles into mass market product, while equally applicable to hybrid vehicles, where it will significantly improve both the autonomy and ecological footprint. This, to cite only the two first markets we are going to target’.

‘This new fund raising round has provided the acceleration factor required to confirm Cooltech’s international leadership in the area of industrial magnetic refrigeration solutions, allowing the company to maintain an ambitious development strategy’ confirmed Jean-Michel Barbier, Managing Partner of TechFund Europe and fund manager of the AIRFI FCPR. ‘Its mastery of the magnetic refrigeration technology combined with a profound expertise in areas as varied as magnetism, mechanical systems, fluid & thermal dynamics as well as chemistry constitutes a real technological barrier. In addition, Cooltech Applications holds title to a very large number of international patents protecting these various technological elements’.

‘Cooltech Applications is the first company to have created an operational system where the performance required for industrialization has been proved and hence the only company actually engaged in commercializing a magneto-caloric Thermal machine. This machine has been conceived to be both simple in terms of architecture and modular, allowing a competitive unit price for the numerous potential applications while equally meeting the client based specifications, in particular temperature and power. Cooltech Applications represents a rare opportunity in France to develop a completely new eco-industry’, added Marc Guittet, Partner at 123Venture.

Demeter Partners
Demeter Partners is the leading investment capital firm in Europe for Cleantech with more than 350 M€ under management. Based in Paris, it was founded in 2005 and is owned by the management board. Demeter Partners specializes in eco-industries (water, air and waste treatment, site remediation,) and eco-energies (energy efficiency, renewable energies…) mostly for companies located in France, Germany and Spain. So far, Demeter has invested in more than 40 companies. Demeter invests within a wide range of companies: from innovating start-ups to mid-cap companies and supports them at all stages : creation, growth, transfer, with unitary mandates ranging from 0.5 to 15 M€.

Demeter has offices in Paris (France), Madrid (Spain) and Berlin (Germany).
www.demeter-partners.com

123Venture
123Venture is an independent Fund specialized in renewable energy and real estate. With over 815 M€ of funds under management, 123Venture has become a sectorial reference in funding of SME’s, small and medium sized enterprises. 123Venture has participated in over 260 SME investments in 9 countries.
www.123venture.com

TechFund Europe
TechFund Europe is a private equity firm focusing on early-stage investments in breakthrough technology companies. Investments are focused on core and enabling technology including digital media, networking, communications, and energy. TechFund’s objective is to identify innovative companies early in their corporate development and assist those companies to rapidly build viable businesses, sustain growth over many years, and create enduring enterprises. TechFund Europe leverages its network of strategic partners and proactively assists its portfolio companies in accelerating their development. TechFund Europe Management has a pan-European focus and co-manages parts of FCPIs (Fonds Commun de Placement dans l’Innovation) and FIPs (Fonds d’Investissement de Proximité).

www.TechFund.com

Cooltech Applications
Cooltech Applications is the first company in the world to propose a solution which is ecologic, economic and industrially viable, targeting the global refrigeration and air conditioning markets using magnetic refrigeration technology. Created in 2003 and based next to Strasbourg’s airport, the company employs 33 odd staff of whom the majority are high level engineers with either scientific or industrial backgrounds. Heavily supported by the French Government’s innovation arm – OSEO, Cooltech Applications has been engaged since 2010 in a 20 Million Euro industrialization project ‘MAGCOP’. This program, actually now in its final phase, has permitted the industrial development and production line to be developed for a thermal machine to be produced in volume.
Since its debut, the company has been financed by the investment funds: ACE Management, TechFund Europe (FCPR Airfi) & Sodiv in addition to the two significant industrial groups: Marcel Dassault Industrial Group and Erasteel Cie from Eramet Group. Erasteel, as MagCop project partner, develops high performance magnetocaloric materials such as lanthane-based alloys, an essential element of the magnetic refrigeration technology.

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Oak Hill Investment Management has completed a spin-out from The Robert M. Bass/Oak Hill organization and is now called Jasper Ridge Partners. Robert M. Bass will continue to own a minority stake in Japser Ridge, a statement says. Jasper Ridge manages roughly $10 billion across asset classes including private equity, venture capital, hedge funds, real estate, natural resources, public equity and fixed income.

PRESS RELEASE

Jasper Ridge Partners is the new name of Oak Hill Investment Management. Jasper Ridge ‘s founding managing partners originally joined the Robert M. Bass/Oak Hill organization in 1995, began managing external capital for successful entrepreneurs in 1996 and subsequently formed Oak Hill Investment Management. The new Jasper Ridge Partners name reflects the evolution and expansion of the firm’s activities and its spin-out from the Bass/Oak Hill organization. Jasper Ridge Partners will continue to provide discretionary investment management services and customized solutions to prominent families, foundations and global institutions.
(Logo: http://photos.prnewswire.com/prnh/20130409/LA90449LOGO)
“The announcement of our new name strengthens our positioning as a fully discretionary manager operating independently of Mr. Bass and other Oak Hill entities. We are enormously appreciative of our heritage with the Bass/Oak Hill organization, and are pleased to have Mr. Bass as our ongoing partner in the firm,” said Jamie Alexander of Jasper Ridge Partners.
The firm became majority owned by its investment professionals in 2008. Robert M. Bass will continue to own his minority stake in Jasper Ridge Partners.
“Our new offices in Menlo Park offer a beautiful view of Jasper Ridge , which lies among the foothills of the Santa Cruz Mountains. This area is also the home of the Jasper Ridge Biological Preserve,” observed Mark Wolfson of Jasper Ridge Partners. “The principles of a preserve – the safeguarding and fostering of precious resources – are the same principles we will continue to apply to all of our work on behalf of our clients.”
In a letter to its clients announcing the firm’s re-launch, Jasper Ridge Partners noted that its clients will continue to receive the firm’s services in the same highly personal and professional manner which has been the hallmark of its business model.
About Jasper Ridge Partners
Jasper Ridge Partners provides discretionary investment management services and customized solutions to prominent families, foundations and global institutions. Jasper Ridge Partners manages approximately $10 billion across all major asset classes, including private equity, venture capital, hedge funds, real estate, natural resources, public equity and fixed income. Jasper Ridge ‘s founding managing partners originally joined the Robert M. Bass/Oak Hill organization in 1995, began managing external capital for successful entrepreneurs in 1996 and subsequently formed Oak Hill Investment Management, which became majority owned by its professionals in 2008.

 

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Court Square Capital Partners has agreed to sell CompuCom Systems. The buyer is Thomas H. Lee Partners. Financial terms were not announced but  THL is paying about $1.1 billion in cash, according to a person familiar with the matter. Citigroup Global Markets Inc, J.P. Morgan, BMO Capital Markets and Jefferies Finance are providing committed financing. Dallas-based CompuCom is an IT outsourcing company. Court Square acquired the company in 2007 for $504 million. BMO Capital Markets and Jefferies advised THL, while Citigroup provided financial advice to CompuCom/Court Square. UPDATE: Ed Wehle lead the deal team at Citi that included Ethan Zweig and Hugo Doetsch.  Gerrie Sinatra of Dechert along with Ken Young, Adam Rosenthal, Victoria Alff, Allyson Levy, Edward Lemanowicz and Ken Wang provided legal advice to CompuCom/Court Square. Weil, Gotshal & Manges was the attorney for THL.

PRESS RELEASE
CompuCom Systems, Inc., the leading IT services and solutions specialist, today announced that it has entered into a definitive agreement under which Thomas H. Lee Partners, L.P. (“THL”), a leading private equity firm, will acquire CompuCom from Court Square Capital Partners, a private equity firm with a legacy of building lasting companies.
CompuCom specializes in full lifecycle infrastructure services from assessment, design, procurement and integration through program deployment and management services of complete enterprise IT infrastructures. CompuCom’s clients are among the most recognized Fortune 100 and 500 businesses, including high growth companies and vertical market leaders. CompuCom, which has more than 11,500 associates worldwide, has had more than 20 years of profitable growth and had $2.3 billion of gross revenue in 2012.
“We at CompuCom are delighted to announce this partnership with THL. This heralds a new era for us with continued focus on value added services to our customers. THL has a great track record in supporting focused growth, customer delight and associate satisfaction within outsourcing and managed IT services companies. Our mission is fully complemented by the resources that a partnership with THL provides,” said Jim Dixon, CompuCom CEO.
Tony Doye, CompuCom Divisional CEO, added, “CompuCom is well positioned for growth, particularly in the mobility, end user and cloud arenas. It is very exciting for us that THL shares and is investing in our strategy.”
“Companies across all industries are increasingly turning to third parties to enhance how they meet their business service needs, particularly with respect to IT. Meanwhile, technology continues to evolve quickly; organizational compliance requirements are becoming an expensive burden due to the rise of mobile devices and cloud computing; and end-user computing services require integration of an increasing number of components. CompuCom has demonstrated that it has the tools and human capital to help companies to navigate these challenges. This investment is also consistent with our long history of investing in and partnering with business processing and managed IT services firms, including Systems Maintenance Services and Fidelity National Information Services,” said Soren Oberg, Managing Director at THL.
“CompuCom has established itself as a clear leader in providing cost-effective IT service management and solutions and is well known for its exemplary customer service. We believe the Company is well-positioned to capture additional market share in its traditional areas of strength as it deepens its expansion into new services towers. We look forward to partnering with the talented CompuCom management team to further grow the business and to continue building value,” said Seth Lawry, Managing Director at THL.
The transaction is expected to close in the second quarter of 2013, subject to regulatory approvals and the satisfaction of other customary closing conditions. Financial terms of the transaction were not disclosed. Citigroup Global Markets Inc., J.P. Morgan, BMO Capital Markets and Jefferies Finance LLC are providing committed financing for the transaction. BMO Capital Markets and Jefferies LLC acted as financial advisors and Weil, Gotshal & Manges LLP acted as legal advisor to THL. Citigroup Global Markets Inc. acted as financial advisor and Dechert LLP acted as legal advisor to CompuCom and Court Square.

About CompuCom Systems, Inc.
CompuCom, the leading IT services and solutions specialist, delivers IT your way. Our clients like working with us because they know that, with CompuCom, it’s all about them. Our unique ITSM strategy blends your data center, network, voice, and end user computing environments in an innovative fashion. This radically simplifies your IT, allowing you to focus on growing your business and serving your customers. We are highly regarded around the world for our balance of industry-leading tools, a pragmatic approach to best practices, and our highly skilled workforce. We are the perfect alternative to address the revolutionary IT transformations facing you today and in the future. More than a trusted advisor, CompuCom is your trusted doer. To learn more, visit www.CompuCom.com.
About Thomas H. Lee Partners
Thomas H. Lee Partners, L.P. (“THL”) is one of the world’s oldest and most experienced private equity firms. The firm invests in growth-oriented global businesses, headquartered principally in North America, across three broad sectors: Consumer & Healthcare, Media & Information Services and Business & Financial Services. THL’s team of investment and operating professionals partner with portfolio company management teams to identify and implement business process improvements that accelerate sustainable revenue and profit growth. Since its founding in 1974, THL has raised approximately $20 billion of equity capital and invested in more than 100 businesses with an aggregate purchase price of more than $150 billion. THL strives to build great companies of lasting value and generate superior investment returns. For more information, please visit www.thl.com.
About Court Square Capital Partners
Court Square is one of the most experienced teams in the private equity industry. Since 1979, the team has made over 200 investments including several landmark transactions and has developed numerous businesses into leaders in their respective markets. Court Square invests in companies that have compelling growth potential. The firm manages over $5.5 billion in aggregate capital commitments while focusing on the following four sectors: business services, general industrial, healthcare and technology/telecommunications. For more information please visit www.courtsquare.com.

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Square 1 Bank has provided a $3 million term loan to SteadyMed Therapeutics. Ramon, Calif.-based SteadyMed is a specialty pharmaceutical company backed by KB Partners and Samson Ventures. SteadyMed plans to use the proceeds to continue development of its PatchPump technology and complete clinical trials for FDA Approval, according to a statement.

PRESS RELEASE

Square 1 Bank, the premier banking partner to entrepreneurs and the venture capital community, today announced that it has provided a $3 million term loan to new client, SteadyMed Therapeutics, Inc., a specialty pharmaceutical company developing a pre-filled, large volume subcutaneous delivery system called PatchPump® in combination with its drug product to treat Pulmonary Arterial Hypertension (PAH). Proceeds will be used to provide working capital to SteadyMed while it continues to develop its proprietary PatchPump technology and complete clinical trials for FDA Approval.

Backed by KB Partners and Samson Ventures, SteadyMed operates internationally with offices in the San Francisco Bay Area and Rehovot, Israel. SteadyMed’s sleek user-friendly PatchPump device will enable increased control over the delivery of liquid drugs via a programmable electronic system. SteadyMed also has several ongoing collaborations with Biopharmaceutical companies who are evaluating its PatchPump as the delivery platform for their large volume biologics pipeline.

President and CEO Jonathan Rigby said, “We are pleased that Square 1 assessed our multinational presence and saw how we are structured for success in our drug product development and licensing activities. They fashioned a great solution that met everyone’s needs.”

“SteadyMed has been a pleasure to work with,” said Ben Colombo, SVP of Life Sciences in Square 1 Bank’s Silicon Valley office. “When I looked at the teams’ formidable industry backgrounds, the company’s strong investor syndicate, as well as its innovative drug delivery technologies, I was excited for Square 1 to partner with them and assist in their growth.”

About Square 1 Bank

Square 1 Bank is a full service commercial bank dedicated exclusively to serving the financial needs of the venture capital community and entrepreneurs in all stages of growth and expansion. Square 1′s expertise, focus and strong capital base provide flexible resources and unmatched support to meet our clients’ needs. The bank offers tailored products and solutions aided by the latest in technological innovations. Square 1 has offices coast to coast in Austin, Boston, Denver, Durham, Los Angeles, New York, San Diego, Seattle, Silicon Valley and Washington, DC. For more information, visit www.square1bank.com.

About SteadyMed, Inc.

SteadyMed Therapeutics, Inc., is a private, venture funded drug delivery therapeutics company currently focused on the commercialization of its PatchPump® technology; a prefilled, size-efficient and disposable subcutaneous drug delivery system. The company’s range of PatchPumps can be customized to deliver liquid drugs with a wide range of volumes and viscosities, in a consistent and controllable manner. In order to represent the highest value to risk ratios, the company is leveraging the sustainable cost and technological competitive advantages of its PatchPump platform to market a family of products that benefits patients with certain chronic conditions.

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Arlington Capital Partners has acquired MB Aerospace Holdings. Financial terms were not announced. Management also invested. U.K.-based MB Aerospace provides highly engineered components for the commercial and military aero-engine and industrial gas turbine markets.

PRESS RELEASE

Arlington Capital Partners (“Arlington”), a Washington, DC-based private equity firm, today announced the acquisition of MB Aerospace Holdings Limited (“MB Aerospace”), in partnership with the Company’s management team. Headquartered in Motherwell, United Kingdom, MB Aerospace is a leading global provider of highly engineered components for the commercial and military aero-engine and industrial gas turbine markets.

MB Aerospace manufactures complex rings, casings and other engine components for a large and diversified portfolio of aero engine and industrial gas turbine platforms. The Company’s in-depth knowledge of critical manufacturing technologies and global supply chain management allows it to also provide supply chain integration services alongside the manufacture and repair of complex aero-engine components. The Company’s blue-chip customer base includes large OEM’s such as Pratt & Whitney, Rolls-Royce, General Electric, Boeing, United Technologies, GKN, Mitsubishi Heavy Industries and Volvo Aerospace.

“We are excited about the opportunity to partner with Craig Gallagher and the rest of MB Aerospace’s world-class management team,” said Peter Manos, a Managing Partner at Arlington. “This acquisition creates a global platform with a unique focus on providing manufacturing, engineering and supply chain management services for mature and legacy aero-engine platforms, and we believe the Company’s strong growth prospects will be further enhanced with significant acquisitions.”

Craig Gallagher, CEO of MB Aerospace, commented, “Our partnership with Arlington represents a superb fit with our vision of creating a truly world-class aerospace business focused on aero-engine components. Arlington’s global track record in the aerospace and defense sectors will be invaluable as we seek to expand further both organically and through acquisitions. We look forward to leveraging Arlington’s extensive experience and relationships.”

Jesse Liu, a Principal at Arlington said, “Going forward, MB Aerospace is well positioned to lead a consolidation effort in the highly fragmented mature and legacy aero-engine market. The Company’s best-in-class engineering expertise, strong history of past performance and unique market focus enable MB Aerospace to partner with OEM’s to address overall under-performance issues in their supply chains.”

About Arlington Capital Partners

Arlington Capital Partners is a Washington, D.C.-based private equity firm with over $1.5 billion of capital under management focused on middle market investment opportunities in growth industries including: aerospace/defense, government services and software, healthcare services, business services, education and training. The firm’s professionals and network have a unique combination of operating and private equity experience that enables Arlington to be a value-added investor. Arlington invests in companies in partnership with high quality management teams that are motivated to establish and/or advance their company’s position as leading competitors in their field. www.arlingtoncap.com

About MB Aerospace

MB Aerospace is an international aerospace engineering group providing complex engineering solutions to some of the key names in the aerospace and defense market. The group provides an in-depth knowledge of critical manufacturing technologies and the global supply chain management to support complex aero-engine component manufacture and repair. MB Aerospace supports major corporations to address the root causes of under-performance in their extended and fragmented supply chains and helps safe-guard the continuity of supply in challenging circumstances. Under the leadership of CEO Craig Gallagher and senior management, the Company secured strategic remits with a number of key aerospace and defense companies, divested non-core operations and is well positioned to serve all key aero-engine OEM’s globally. www.mbaerospace.com

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American Capital said Monday that it closed on the sale of a $414 million of collateralized loan obligation bonds. Deutsche Bank arranged the transaction. American Capital Leveraged Finance Management, a subsidiary of American Capital Asset Management, is externally managing the CLO.

PRESS RELEASE

American Capital, Ltd. (Nasdaq: ACAS) (“American Capital”) announced today that an affiliate, ACAS CLO 2013-1, Ltd. (the “CLO”), has closed on the sale of $414 million of collateralized loan obligation bonds. The transaction was arranged by Deutsche Bank Securities Inc. The CLO is externally managed by American Capital Leveraged Finance Management, LLC, a subsidiary of American Capital Asset Management, LLC, a wholly-owned portfolio company of American Capital, for an annual management fee of 50 basis points of total assets.
The CLO has primarily invested the proceeds of the bonds in broadly syndicated senior secured loans purchased in the primary and secondary markets.
“We are pleased that we materially improved pricing on the financing of our latest CLO versus the CLO that we raised last September,” said Mark Pelletier , American Capital Managing Director, CDO and CLO Group. “We now manage three CLOs and have investments in the equity of 25 CLOs.”
“With this new CLO, American Capital Asset Management continues to expand its funds under management and now manages six private funds and two public REITs,” said Malon Wilkus , American Capital Chairman and CEO.
The bonds sold by the CLO included AAA(sf) through B(sf) rated tranches, and a non‑rated equity tranche of subordinated notes. American Capital Leveraged Finance Management purchased $25.3 million of the non‑rated equity tranche of subordinated notes, with third party investors purchasing the remaining $11 million. The retention of an equity investment by American Capital Leveraged Finance Management is intended to make ACAS CLO 2013-1 compliant with risk retention rules applicable to credit institutions regulated in the European Economic Area.
Capital Structure

 

 

 

 

Tranche
% of Total Capital
Principal Amount ($)
Moody’s
S&P
Spread
Class A
59.50%
246,500,000
Aaa
AAA
L+1.18%
Class B-1
7.97%
33,000,000
N/A
AA
L+1.90%
Class B-2
4.83%
20,000,000
N/A
AA
L+3.36%
Class C
6.52%
27,000,000
N/A
A
L+2.75%
Class D
5.31%
22,000,000
N/A
BBB
L+3.60%
Class E
4.47%
18,500,000
N/A
BB
L+4.90%
Class F
2.66%
11,000,000
N/A
B
L+6.10%
Subordinated Notes
8.76%
36,300,000
N/A
N/A
N/A

100%
$414,300,00

 

 

 

 
ABOUT AMERICAN CAPITAL
American Capital is a publicly traded private equity firm and global asset manager. American Capital, both directly and through its asset management business, originates, underwrites and manages investments in middle market private equity, leveraged finance, real estate and structured products. American Capital manages $18.6 billion of assets, including assets on its balance sheet and fee earning assets under management by affiliated managers, with $117 billion of total assets under management (including levered assets). American Capital, through a wholly-owned portfolio company, manages publicly traded American Capital Agency Corp. (Nasdaq: AGNC) with approximately a $13 billion market capitalization and American Capital Mortgage Investment Corp. (Nasdaq: MTGE) with approximately a $1.5 billion market capitalization. From its eight offices in the U.S. and Europe, American Capital and its affiliate, European Capital, will consider investment opportunities from $10 million to $750 million. For further information, please refer to www.AmericanCapital.com.

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MSC Mediterranean Shipping Co. said Monday that it has agreed to sell 35% of Terminal Investment Limited SA to Global Infrastructure Partners and a group of its LP co-investors. The sale price is US$1.929 billion, including certain payments contingent on TIL’s future performance. The deal is expected to close in the middle of the year. Terminal Investment Limited invests in, develops and manages container terminals around the world.

PRESS RELEASE

MSC Mediterranean Shipping Company S.A. (“MSC”) has reached agreement with Global Infrastructure Partners and a group of its LP Co-Investors (“GIP”) to sell 35% of Terminal Investment Limited SA (“TIL”). Consideration is US$1.929 billion, including certain payments contingent on TIL’s future performance. Closing is expected to take place in the middle of the year and is subject to obtaining the relevant approvals.
TIL has, or is in the process of acquiring, controlling or joint-controlling interests in 30 container terminals globally serving most of the world’s major trade routes and located in North and South America, Europe, Africa, the Middle East and Asia. TIL has grown rapidly over the last decade and is now the world’s sixth largest container terminal operator. TIL’s growth will continue to benefit from its relationship with MSC which is the world’s second largest container shipping company.
The new strategic partnership between MSC and GIP will provide a strong foundation to support the next phase of TIL’s growth, including further acquisitions and investments. GIP will play an active role with Alistair Baillie joining TIL as President.
Diego Aponte, Vice President of MSC, said: “We’re extremely pleased to have joined forces with GIP, one of the largest and most experienced infrastructure funds. Through this partnership we are reinforcing our terminal division, which will enable us to capitalize on future opportunities and growth. This will complement MSC’s strategy to maintain a leading position in the industry.”
Adebayo Ogunlesi, Chairman and Managing Partner of GIP commented: “We are delighted to enter into this exciting new partnership with MSC. This is in line with our strategy of developing best-in-class joint ventures with industry leaders. We expect to work closely with MSC in growing and improving this high quality portfolio of container terminal assets.”
###
About Global Infrastructure Partners
Global Infrastructure Partners (“GIP”) is an independent infrastructure investment fund with US$15 billion under management. GIP invests worldwide in infrastructure assets and businesses in both the OECD and select emerging market countries. GIP targets investments in single assets, and portfolios of assets and companies, in power and utilities, natural resources infrastructure, air transport infrastructure, seaports, freight railroad, water distribution and treatment and waste management. GIP has offices in New York, London and Colorado Springs, with an affiliate in Sydney and portfolio company operations headquarters in Stamford, Connecticut. For more information, visit www.global-infra.com.
GIP’s other port sector investments are a joint-controlling 27% interest in Port of Brisbane, Australia; 50% of International Trade Logistics in Buenos Aires, Argentina; and 100% of Great Yarmouth Port in the UK.
About MSC Mediterranean Shipping Company S.A.
MSC Mediterranean Shipping Company S.A. (“MSC”) of Geneva, Switzerland, is a privately owned shipping line, founded in 1970, which has rapidly grown to become the number two global container shipping line. During recent years MSC’s maritime fleet has expanded substantially and, as of mid-March 2013, was operating 446 container vessels with an intake capacity of over 2,200,000 TEUs. For more information, visit www.mscgva.ch.
About Terminal Investment Limited SA
Terminal Investment Limited SA (“TIL”) invests in, develops and manages container terminals around the world. It was founded in 2000 to secure berths and terminal capacity in the major ports used by MSC. Since then, TIL has grown to become one of the largest and most geographically diverse container terminal operators globally. TIL’s terminals have been selected for their important and strategic locations around the world, including major origin and destination and transshipment trade hubs and gateways in Europe, Asia, North America, South America and West Africa. For more information, visit www.tilgroup.com.
Advisors to MSC included Deutsche Bank, BNP Paribas and Freshfields Bruckhaus Deringer. Linklaters advised GIP.

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Genworth Financial has agreed to sell Genworth Wealth Management to Aquiline Capital Partners and Genstar Capital for $412.5 million. The deal, which is expected to close in the second half, includes Genworth Financial Wealth Management and Altegris. Credit Suisse is providing debt financing. Aquiline and Genstar were advised by Deutsche Bank.

PRESS RELEASE

Aquiline Capital Partners LLC (“Aquiline”), a New York-based private equity firm investing in the financial services sector, and Genstar Capital, LLC (“Genstar”), a middle market private equity firm based in San Francisco, today announced that they have agreed to acquire Genworth Wealth Management from Genworth Financial, Inc. (NYSE: GNW) (“Genworth”) for $412.5 million. The sale by Genworth includes both of Genworth Wealth Management’s businesses: Genworth Financial Wealth Management (“GFWM”), an investment management and consulting platform, and Altegris, a provider of premier alternative investments.
Together, the two businesses make up a leading wealth management platform and an alternative investment solutions provider. GFWM primarily provides a growing universe of independent financial advisors with comprehensive support across every phase of their practice, helping them to meet clients’ wealth management and investment needs. Altegris offers a suite of liquid alternative mutual funds, a wide platform of hedge funds and separately managed accounts backed by a deep commitment to research. Altegris’ products provide an efficient solution for financial professionals and individuals seeking alternative investments.
Aquiline and Genstar will bring their operational expertise and industry experience to help GFWM and Altegris increase their scale and capabilities. Specifically, Aquiline and Genstar will work with the respective senior management teams to enhance product development and technology offerings at GFWM, and expand distribution channels and launch new alternative products at Altegris. By strengthening the companies’ infrastructures and capital bases, Aquiline and Genstar will create the foundation for ongoing growth and greater market share.
“Genworth Financial Wealth Management and Altegris are market-leading businesses with strong brands, experienced management teams and high growth potential,” said Jeff Greenberg, Chief Executive of Aquiline. “Both businesses provide strategic resources that differentiate them from their competitors in rapidly-growing industries. Together, they form an effective platform for investors. We look forward to working with Genstar to support these companies in their continued development.”
“GFWM and Altegris are each well-positioned to meet the growing needs of independent financial advisors and increased demand from retail investors for access to alternative products,” added Tony Salewski, a Principal of Genstar. “Aquiline and Genstar will leverage our collective investment experience to help the management teams capitalize on these trends and grow their businesses.”
Jean-Pierre L. Conte, Managing Director and Chairman of Genstar, commented: “This acquisition, in partnership with Aquiline, is a demonstration of our continued focus of investing in targeted, attractive segments within the financial services sector.”
“We are pleased to welcome our new partners to our teams because they share our vision for continued growth and ongoing client focus. Aquiline and Genstar’s financial services expertise will support market innovation for advisors,” said Gurinder S. Ahluwalia, President and Chief Executive Officer of GFWM. “We look forward to working with them and leveraging their strategic, financial and operational support.”
“As a specialist with deep roots in the alternative investment industry, we take great pride in our investment teams, whose proven, research-driven process helps us provide our clients with the best in alternatives,” said Jon Sundt, President and CEO of Altegris. “We appreciate that our new strategic partners, Aquiline and Genstar, recognize the strength of our operations, and we are excited to invest alongside them in Altegris as we build a stronger foundation for our future.”

Aquiline and Genstar were advised by Deutsche Bank. A debt financing commitment has been provided by Credit Suisse in connection with the acquisition. The transaction, subject to customary closing conditions, is expected to close in the second half of 2013.
# # #
About Aquiline Capital Partners LLC
Aquiline is a private equity firm based in New York investing in financial services enterprises in industries such as asset management, property and casualty insurance, banking, securities, life insurance and financial technology. Aquiline seeks to add value to its portfolio companies through strategic, operational, and financial guidance.
About Genstar Capital, LLC
Genstar Capital is a leading private equity firm that has been actively investing in high quality companies for more than 20 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar has more than $4 billion of committed capital under management and targets investments focused on selected sectors within the financial services, software, healthcare, and industrial technology industries.

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TA Associates and Updata Partners said Wednesday they plan to make a “significant” investment in Nintex Group. Financial terms were not announced. Nintex, of Melbourne, Australia, is a software provider. Macquarie Capital is currently a Nintex investor. The Wall Street Journal said the consortium’s offer for Nintex was valued at US$222 million. Spurrier Capital Partners and Macquarie provided advisory services to Nintex.

PRESS RELEASE

TA Associates, a leading global growth private equity firm, and Updata Partners, a leading technology-focused growth equity firm, today announced they plan to make a significant investment in the Nintex Group, a global provider of workflow software solutions. TA and Updata will work in partnership with the Nintex management team to accelerate Nintex’s global growth initiatives.

Nintex is a leading workflow software company, with more than 4,000 customers in 90 countries serviced by a global network of high quality partners and service providers. Nintex Workflow software enables organizations to automate business processes quickly and easily using intuitive but powerful, drag and drop tools. Through its Nintex Live offerings, Nintex enables organizations to utilize cloud services to seamlessly extend workflow functionality outside of the firewall to remote users, customers and suppliers. Nintex products are distributed globally via a network of over 800 value-added partners and service providers. The company also owns and operates OBS, a leading IT services business focused on the design, customization and implementation of Microsoft-based solutions exclusively in Australia. Nintex has global headquarters in Melbourne, Australia, U.S. headquarters in Bellevue, Washington, and offices in Kuala Lumpur and London.

“TA Associates and Updata Partners will enable Nintex to accelerate its growth, further expand internationally, and offer its customers and partners new and exciting innovative products,” said Brian Cook, co-Founder and Group CEO of the Nintex Group.

“We chose TA and Updata for their extensive experience and proven track record helping established software companies become standout market leaders,” said Brett Campbell, co-Founder and Global VP of Alliances of the Nintex Group.

“Nintex is an attractive investment for a number of reasons, including strong organic growth and momentum, a successful global partner distribution network, exceptional customer satisfaction and a deep management team,” said Harry D. Taylor, a Director at TA Associates who will join the company’s Board of Directors.

“We have been aware of Nintex for several years, watching the company continuously outperform and establish a leadership position in workflow solutions on the Microsoft SharePoint platform,” said John Burton, a General Partner at Updata Partners, who will join the company’s Board of Directors as Lead Director. Jon Seeber, a Principal at Updata Partners, will also join the Nintex Board of Directors.

This funding round will add to an existing investment in Nintex by Macquarie Capital. “We are pleased TA and Updata will be joining Macquarie Capital as investors in Nintex,” said Glen Butler, a Division Director at Macquarie Capital, which will retain a minority ownership position in Nintex. “As an innovative business providing user-friendly workflow tools, Nintex is well-positioned to continue its impressive growth.”

“Australia-based Nintex is a perfect example of the type of rapidly growing, well-managed global business TA has been able to identify by leveraging decades of investing experience in software businesses,” said Edward F. Sippel, Managing Principal – Asia Pacific, TA Associates Asia Pacific Ltd., who will join the Nintex Board of Directors. Kurt R. Jaggers, a Managing Director at TA Associates, will also join the company’s Board of Directors.

Gilbert + Tobin and Goodwin Procter LLP are providing legal counsel and KPMG is providing accounting advisory services to TA Associates. Proskauer Rose LLP is serving as legal counsel to Updata Partners. Allens is serving as legal counsel and Spurrier Capital Partners and Macquarie Capital are providing advisory services to Nintex.

About Nintex Group Pty Ltd.

Nintex is the leader in workflow solutions, with more than 4,000 customers in 90 countries serviced by a global network of high quality partners and service providers. Nintex delivers innovative software and cloud services that empower organizations to automate business processes quickly and easily. Please visit www.nintex.com for more information.

About TA Associates

Founded in 1968, TA Associates is one of the largest and most experienced global middle-market growth private equity firms. The firm has invested in more than 425 companies around the world and has raised $18 billion in capital. With offices in Boston, Menlo Park, London, Mumbai and Hong Kong, TA Associates leads buyouts and minority recapitalizations of profitable growth companies in the technology, financial services, business services, healthcare and consumer industries. More information about TA Associates can be found at www.ta.com.

About Updata Partners

Updata Partners is a leading technology-focused growth equity firm with nearly $500 million of capital under management. Updata invests in high-growth software, internet, and technology-enabled services companies with innovative intellectual property and market-leading solutions. Led by an investment team averaging more than 20 years of experience in the technology industry, Updata seeks investments where the combination of the firm’s financial backing and the operating expertise of their partners will accelerate growth. Updata is headquartered in Washington, DC. For more information, please visit www.updatapartners.com.

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Velocity Technology Solutions, which is backed by Silver Lake Sumeru, has acquired velos-IT. Financial terms were not announced. Glasgow, Scotland-based velos-IT provides hosting, managed services and consulting to medium- and large-scale European companies.

PRESS RELEASE

Velocity Technology Solutions, Inc. (Velocity), the leader in cloud application services in North America, today announced that it has completed the acquisition of UK-based velos-IT, Ltd (velos-IT). velos-IT provides hosting, managed services and consulting to medium- and large-scale European enterprises.
“Velocity and velos-IT share a common set of core values and a reputation for technology innovation and customer service,” said Tom Bruno, CEO of Velocity. “The acquisition of velos-IT furthers our global services footprint and immediately strengthens and expands our Universal Cloud Services offering to include Oracle E-Business Suite. We are excited to serve the European market and enthusiastically welcome the entire velos-IT team into the Velocity family.” Velocity’s Universal Cloud Services suite includes fully-managed application services, platform-as-a-service (PaaS), infrastructure-as-a-service (IaaS), and managed disaster recovery services delivered through a secure and resilient virtual private cloud.
Founded in 2004, velos-IT is one of the UK’s fastest-growing IT services companies and employs approximately 100 in Glasgow, Scotland. “We are excited by the opportunity to leverage the knowledge and technical expertise of Velocity and velos-IT across the expanse of Universal Cloud Services and extend a compelling offering for our current and future customers. This is fantastic news for both velos-IT customers and employees alike,” said Jim McInnes, founder and Managing Director of velos-IT, who has been named Velocity’s General Manager, Europe. The velos-IT customer base crosses multiple industries and ranges from mid-market through enterprises with revenues exceeding £3 Billion. velos-IT serves organizations with operations in 25 countries. Their services include 24/7 support of business applications and IT infrastructure, systems integration, application deployment, upgrades, and custom software development. Expertise includes Oracle JD Edwards and E-Business Suite, and QlikView business intelligence software.
“We remain focused on expanding our lead in the cloud services market through development of new channels, service offerings, and strategic acquisitions,” said Steve Shippee, Chief Strategy Officer. “This multi-faceted approach is critical to our customer-focused strategy — providing a robust offering and top-tier service while we continue to expand our capabilities.”

Velocity and velos-IT are privately held. Financial terms of the transaction were not disclosed.
About Velocity Technology Solutions
Velocity Technology Solutions is the leading provider of cloud-based Managed Application Services and Managed Disaster Recovery Services. It is dedicated to lowering operational costs, providing industry-leading service levels and improving software performance while reducing the burden on IT staff and enabling deployment flexibility. Velocity provides virtual private cloud solutions for enterprise applications with high levels of performance. Expertise managing software 24/7, combined with proprietary technology that enhances availability, security, and control, make Velocity the trusted partner for rapidly and securely deploying application investments into a secure and resilient virtual private cloud. Velocity is headquartered in New York with facilities in Minneapolis, Seattle, Denver, Tampa, London (Canada), Glasgow (Scotland). Velocity is a portfolio company of Silver Lake Sumeru, a global leader in private equity investments in growth-oriented technology and technology-enabled companies (for additional information on the firm and its entire portfolio, visit www.silverlake.com). For more information on Velocity: visit www.velocity.cc.

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Overall Capital Partners has acquired Honeycomb Company of America. Financial terms weren’t announce. Sarasota, Fla.-based Honeycomb makes , flight critical, bonded, composite assemblies for U.S. military aircraft platforms. BB&T Capital Markets | Windsor Group provided financial advice to Honeycomb.

PRESS RELEASE

Honeycomb Company of America, Inc. (“HCOA” or “the Company”), a Sarasota, Florida-based manufacturer of complex, flight critical, bonded, composite assemblies for U.S. military aircraft platforms, has been acquired by Overall Capital Partners (“Overall”).  BB&T Capital Markets | Windsor Group served as the exclusive financial advisor to HCOA. The terms of the transaction were not disclosed.

HONEYCOMB OF AMERICA

For more than 50 years, HCOA has served as a trusted supplier of factory new, spare parts for the maintenance, repair, and overhaul requirements of the U.S. Air Force, and various commercial suppliers. The Company offers a full-service solution encompassing the complete manufacturing lifecycle of design, engineering, fabrication, and quality assurance for multiple mission-critical military aircraft platforms. HCOA’s success has been predicated on the Company’s extensive experience in delivering assemblies that adhere to strict military and original equipment manufacturer (“OEM”) quality guidelines and specifications.

OVERALL CAPITAL PARTNERS

Overall Capital Partners is a private equity fund which invests in market leading businesses with proven management teams. Overall seeks to partner with industry leading executives who are pursuing significant growth opportunities. In doing so, they provide an unusual amount of business support and capital to special opportunities at growing business. Overall uses a platform of partnerships to allow management teams to access world class resources on a low cost, targeted basis. This approach enables entrepreneurs to stay nimble and focused on their business while utilizing big company resources and deep capital to pursue extraordinary opportunities.

AEROSPACE, DEFENSE & GOVERNMENT SERVICES INVESTMENT BANKING

BB&T Capital Markets | Windsor Group is one of the industry’s leading full-service investment banks specializing in mergers and acquisitions and capital markets transactions in the Aerospace, Defense & Government Services industries.  BB&T Capital Markets offers an integrated platform of investment banking, research, sales and trading, and corporate banking.

John Hagan
Head – Aerospace, Defense & Government Services
[email protected]

Lee Priest
Managing Director
[email protected] Sam Maness
Senior Vice President
[email protected]

Andy McEnroe
Associate Vice President
[email protected] Ellis Chaplin
Associate
[email protected] Alex Sevilla
Associate
[email protected]

BB&T CAPITAL MARKETS
Headquartered in Richmond, VA; with offices in Boston, MA; and Reston, VA; we have specific expertise within eight distinct industry verticals including Aerospace, Defense & Government Services; Automotive Aftermarket; Commercial & Industrial; Financial Services; Food & Agribusiness; Logistics & Transportation Services; Real Estate; and Retail & Consumer. Our commitment to industry expertise, combined with our resources as one of the nation’s largest financial institutions, strategically positions BB&T Capital Markets to build lasting relationships and contribute measurably to the long-term success of each client.

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Source Refrigeration & HVAC, which is backed by Arsenal Capital Partners, has acquired Fournier Air Conditioning and Refrigeration. Financial terms weren’t announced. Jacksonville, Fla.-based Fournier provides refrigeration and HVAC services to grocery, commercial, industrial, and retail clients throughout Florida and South Carolina.

PRESS RELEASE

Source Refrigeration & HVAC (Source), a portfolio company of Arsenal Capital Partners (Arsenal), today announced the acquisition of Fournier Air Conditioning and Refrigeration – Florida (Fournier).

Based in Jacksonville, Florida, Fournier is a leading provider of Refrigeration and HVAC service solutions to grocery, commercial, industrial, and retail clients throughout Florida and South Carolina. The acquisition builds on Source’s strong platform as the leading independent provider of commercial refrigeration and HVAC services in North America, serving the nation’s top supermarket chains, many of the largest convenience store chains, and leading telecom and industrial companies.

“We are excited to add Fournier’s service and installation offering and strong customer relationships to our growing platform, and welcome their employees and customers to the Source family,” said Bruce Buchholz, President and Chief Executive Officer of Source. “Expansion in the southeastern United States continues to be a critical element of our national expansion strategy,” added Buchholz. “Fournier enjoys strong, long-standing relationships with the leading grocery retailers in their markets and we look forward to continuing to serve them with expanded capabilities. This acquisition, along with our existing Source operations in Alabama, Florida and Georgia, position us well for continued growth and penetration throughout the southeast.”

Neil Lansing, President of Fournier, commented that “Source’s commitments to employee training, advanced information technologies and delivering high-quality customer solutions fit very well with Fournier’s approach to the market”. Lansing added that “the Fournier team is excited to join forces with a national market leader like Source who has the resources, focus and offerings to grow the business and take customer service to the next level.”

Sal Gagliardo, an Operating Partner at Arsenal Capital Partners said, “Fournier is well-established in the Florida and South Carolina core markets for mission critical refrigeration and HVAC services and provides Source with complementary capabilities and expanded market coverage in the southeast. The recent acquisition of TP Electrical and now Fournier demonstrates our commitment to expand Source into the leading service provider in the southeast and to better serve our valuable national and local customer base. We will continue to review opportunities for further expansion of Source’s national presence and service offering.”

About Fournier Air Conditioning and Refrigeration Fournier is a leading provider of refrigeration and HVAC solutions to grocery, commercial, industrial, and retail clients across the Southeastern United States. Fournier offers a complete suite of services including maintenance programs, emergency repairs, new installations and remodels of mission-critical refrigeration and HVAC systems. Their growth and leading market-share position are attributed to their reputation for outstanding quality and reliability. For additional information about Fournier Air Conditioning and Refrigeration, please visit www.fournierair.com.

About Source Refrigeration & HVAC
Source Refrigeration & HVAC is the leading independent provider of commercial refrigeration and HVAC services in North America, serving the nation’s top supermarket chains, many of the largest convenience store chains and leading telecom and industrial companies. With over 1100 employees and service locations nationally, Source designs, installs, services, maintains and optimizes mission-critical refrigeration & HVAC systems. For additional information about Source Refrigeration & HVAC, please visit www.sourcerefrigeration.com.

About Arsenal Capital Partners
Arsenal Capital Partners is a leading New York-based private equity firm that invests in middle-market specialty industrial and healthcare companies. Arsenal makes investments in sectors where the firm has prior knowledge and experience, and targets businesses that have the potential for further value creation by working closely with management to accelerate growth and leverage the firm’s operational improvement capabilities. Arsenal currently has over $1.6 billion of committed equity capital. For additional information on Arsenal Capital Partners, please visit www.arsenalcapital.com.

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ORIX Ventures said Tuesday that it closed a $10 million commitment to Serena & Lily. Sausalito, Calif.-based Serena & Lily offers textiles, furnitures and other home decor products.

PRESS RELEASE
ORIX Ventures announces the closing of a $10 million commitment to Serena & Lily. The funding will provide additional capital to support the continued expansion of the Serena & Lily brand.

Located in Sausalito, California and founded in 2003, Serena & Lily is an aspirational lifestyle brand offering exclusive textiles, furniture and other home décor products for every room in the house.  The funding of Serena & Lily underscores ORIX Ventures’ ability to focus on growth fundamentals and provide flexible capital to a wide variety of businesses.

“We are happy to be working with ORIX Ventures on this debt facility,” said Phil Neri, CFO at Serena & Lily. “Their team understands and supports the Serena & Lily vision as well as the unique needs of a growing lifestyle brand. This investment will help us make progress towards our goals for continued growth and expansion.”

Michael David, managing director at ORIX Ventures, commented, “Serena & Lily has created a unique brand identity that resonates with discerning customers seeking inspirational designs. We are delighted to be working with such a talented team.”

About ORIX Ventures
ORIX Ventures provides customized financial solutions to mid- and late-stage growth companies with established customers and run-rate revenues of $10 million or greater. ORIX Ventures is capable of leading debt or private equity transactions with total commitments as high as $50 million.  Since its inception in 2001, ORIX Ventures has invested more than $1 billion across 100 growth companies throughout the U.S. and Canada. For more information on ORIX Ventures, visit us at www.orixventures.com. ORIX Ventures is a subsidiary of ORIX USA, a Dallas-based financial conglomerate with more than 1,400 employees and primary offices in Dallas, New York, Los Angeles, Columbus and Minneapolis. ORIX USA holds approximately $6 billion of assets and manages an additional $25 billion. ORIX USA is a wholly owned subsidiary of ORIX Corporation, a Tokyo-based, publicly owned international financial services company with operations in 28 countries worldwide. ORIX Corporation is listed on the Tokyo (8591) and New York Stock Exchanges (IX). For more information on ORIX USA, please visit www.orix.com.

Please contact any of our ORIX Ventures’ offices (http://orixventures.com/contact/) to discuss your company’s vision.

Follow us on Twitter: @orixventures

About Serena & Lily
Serena & Lily is an aspirational lifestyle brand that offers unique home décor and inspiration for every room in the house. Based in Sausalito, Calif., the company originated in October 2003 when Serena Dugan and Lily Kanter met and shared a desire for sophisticated options in nursery design. Eight months later, they released their first collection of nursery bedding with Serena’s original textile designs, offering consumers fresh and unexpected looks for the nursery. The company has since evolved into a leading lifestyle brand, offering its unique California-fresh style in many different categories, including bedding, furniture, rugs, windows, lighting, décor, gifts, bath, outdoor, paint, and fabric by the yard. In 2012, the company introduced its online Art Collection with original artwork from near and far. Launched in 2013, the KIDSHOP catalog is for infants and bigger kids alike, and features all the pattern, color and signature style that the Serena & Lily brand is known for. To shop the site, or for more information, please visit www.serenaandlily.com.

 

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