Author: Staff

SpineVision, a French medical device company that designs, develops and markets products for the surgical treatment of spine disorders, has raised $10 million in fresh capital. The round was led by healthcare investment specialist Omega Funds, a new investor in the company.

PRESS RELEASE
SpineVision(R) SA, a commercial-stage medical device company that designs, develops and markets products for the surgical treatment of spine disorders, announced a $10 million capital raise from new and existing investors. The round was led by healthcare investment specialist Omega Funds, a new investor in the company.

The proceeds will provide growth capital for expansion of existing commercial operations, primarily in the U.S. market, as well as for growing commercial activities in Europe. In addition, the capital raised will allow the company to strengthen its R&D efforts and develop an innovative approach to the traditional supply chain.

Arnaud Brisard, CEO of the Company, commented: “Welcoming Omega, Alto Invest and Midi Capital as investors in a substantial capital increase is a key milestone in our development. We now have resources to accelerate the expansion of SpineVision(R) with the objective to further grow our revenue base and achieve sustainable profitability. The present topline growth validates the product strategy implemented since 2009, and this capital increase will accelerate the development of new innovative product lines.”

Omega Fund’s Renee Aguiar-Lucander added: “The management team has, since 2009, built an innovative product portfolio and achieved significant commercial success with limited financial resources. We believe the company will now enter a key growth phase, and we look forward to working with the team to take the company to the next level.”

SpineVision(R) is a privately owned, integrated spinal technology company, focused on developing and marketing implants and instrumentation for spinal treatment. Since its founding in 1999, the company has designed innovative products offering key advantages to surgeons and benefits to patients. The company recently received CE marking for its new generation Flex+2(TM) dynamic stabilization rod. In addition 510(k) approval has been granted for a range of surgical instrumentation focused on a minimally invasive approach to treating conditions related to aging and degeneration of the spine.

SpineVision(R) currently has operating entities in France, Italy, Benelux, UK and the United States, complemented by distribution agreements in several other territories, including in emerging markets. The company posted double-digit revenue growth in 2012, with strong growth continuing in the first quarter of 2013, validating the attractiveness of its new product portfolio.

Bryan, Garnier & Co. acted as exclusive financial advisor to the Company’s shareholders and management.

About SpineVision(R) SpineVision(R) is a privately owned, integrated spinal technology company focused on the development and marketing of implants and instrumentation for spinal treatment. Since its founding in 1999, the company has designed innovative products that offer key advantages to surgeons and benefits to patients. SpineVision(R)’s current products offer solutions for approximately 90% of spinal pathologies: i.e. lumbar degenerative disc diseases, deformities, cervical disorders, trauma and tumors. With its new-generation products Flex+2(TM) and LUMIS(TM), SpineVision(R) is the only manufacturer offering a dynamic stabilization system that can be used in a percutaneous approach. The Company is headquartered in Antony (south of Paris), France, and has subsidiaries in the USA, Italy, Belgium and UK. Contact: Celine Lilloni, [email protected] – +33 (0)1 53 33 25 25.

About Omega Funds Omega Funds is a leading international healthcare-focused investment firm specialized in providing partial or complete liquidity solutions for healthcare venture and growth equity investors, as well as for corporations and institutions investing in the broader healthcare space. As part of its business, Omega Funds also provides follow-on capital to companies, founders and investment firms, as well as collaborates with universities to invest in their leading spin-off opportunities. Contact: Renee Aguiar-Lucander, [email protected].

About ALTO INVEST ALTO INVEST is an independent management company dedicated to investments in SMEs. ALTO INVEST manages over EUR 300 million in retail and institutional funds (FCPI, FIP and FCPR), invested in more than 100 European innovation-rich companies representing a total turnover of EUR6 billion and 40,000 employees. ALTO INVEST is fully approved by the French financial authorities (Autorite des Marches Financiers) and is an active member of the French Asset Management Association (Association Francaise de la Gestion Financiere). Contact: Antoine Valdes, [email protected], Benoit Thiedey, [email protected].

The post SpineVision Inks $10M appeared first on peHUB.

Vance Street Capital, a Los Angeles-based buyout shop, has acquired Smart Electronics & Assembly Inc. Based in Anaheim, Calif., Smart Electronics is a provider of electronic circuit boards, sub-assemblies, modules to the defense, commercial aerospace, industrial and homeland security markets. The deal is the first add-on acquisition for Secure Communication Systems. Terms of the deal were not released.

PRESS RELEASE
Vance Street Capital LLC, a Los Angeles-based private equity firm, announced today that its acquisition of Smart Electronics & Assembly, Inc. (Smart Electronics) closed on May 1, 2013. Smart Electronics is the first add-on acquisition for Secure Communication Systems, an innovator in rugged handheld and deployable computer systems and data encryption equipment, which Vance Street acquired in October 2009. Terms of the transaction were not disclosed.

Based in Anaheim, Calif., Smart Electronics is a provider of electronic solutions, including electronic circuit boards, sub-assemblies, cable/harnesses and modules/box builds to the defense, commercial aerospace, industrial and homeland security markets.

“The purchase of Smart Electronics provides both firms with a number of strategic advantages, including new cross-selling opportunities across a broader range of industries,” said Brian Martin, principal at Vance Street Capital.

“We are pleased to welcome Smart Electronics and its talented and dedicated employees to Secure Communication Systems,” said Allen Ronk, CEO of Secure Communication Systems. “The result of this transaction is a more diversified client base, and our complementary offerings provide both companies with new opportunities for growth.”

While Smart Electronics will become a division of Secure Communication Systems, its daily operations will remain unchanged.

“We look forward to partnering with Vance Street Capital as we join Secure Communication Systems,” said Smart Electronics’ President Robert Swelgin. “Smart Electronics and Secure Communication Systems share a long history of innovation and an unwavering commitment to building long-term customer relationships by delivering quality products and outstanding service. Together we are even better positioned to meet customer demand for speed, reliability and security across defense and commercial industries.”

Fifth Third Bank provided debt financing for the transaction. O’Melveny & Myers LLP acted as legal advisor to Vance Street Capital and Secure Communication Systems in the transaction. Smart Electronics was represented by Arent Fox.

About Smart Electronics & Assembly, Inc.

Smart Electronics & Assembly, Inc. is a leading developer and provider of electro-mechanical solutions for high reliability applications in the defense, commercial aerospace and industrial markets. The company’s four main product categories include electronic circuit boards, sub-assemblies, cable/harnesses and modules/box builds. In addition to providing electronics solutions to the defense and aviation end markets, the company also offers exclusive function testing, prototype, quick turn and production run capabilities. Smart Electronics was founded in 1994 and is based in Anaheim, CA. For more information please visit: http://www.smartelec.com/.

About Secure Communication Systems

Secure Communication Systems designs and manufactures high reliability tactical mission computing systems, encryption equipment, communications products and related equipment for defense and industrial applications. The company offers handhelds, rugged tablet PCs, workstations and servers, routers, accessories, translators, tactical displays, and ultra-mobile PCs for various branches of the military as well as for civilian applications. The company was founded in 1986 and is based in Santa Ana, CA. For more information please visit: http://www.securecomm.com.

About Vance Street Capital

Vance Street Capital is a Los Angeles-based private equity firm that makes control investments in companies with enterprise values up to $200 million. Preferred industries include precision industrial manufacturing, aerospace and defense, medical components and devices, and business services. For over two decades, Vance Street’s partners have worked with management, family owners and other co-investors to accelerate revenue growth, improve operations and acquire strategic assets for the companies in their investment portfolio.

The post Vance Street Capital Snaps Up Smart Electric & Assembly appeared first on peHUB.

FTBpro, a London-based fan-generated media platform for online football, has raised $5.8 million in financing from Battery Ventures and Gemini Israel Ventures. The company is focused on football fans, and provides daily articles in English, Spanish, German and Italian.

PRESS RELEASE
FTBpro, the largest fan-generated media platform in online football, has secured $5.8 million financing from Battery Ventures and Gemini Israel Ventures, as the new media company continues to expand into key geographical markets.

Serving avid football fan communities in all major football leagues worldwide, FTBpro delivers 20 million pageviews every month. The unique platform is driven by 1,000 regular contributors, generating over 200 daily articles in English, Spanish, German and Italian.

FTBpro enables fans to contribute, participate, write and share their views with millions of fellow football fans. Content popularity is determined by readers who rank articles, and by FTBpro’s editors who further promote the highest quality writing, topics and opinions.

The platform also includes innovative content creation tools, allowing contributors as well as media partners to utilize FTBpro’s proprietary templates to create dynamic interactive content which incorporates many features such as match predictions, videos, imagery slideshows, team line-ups, player rankings and much more.

Asaf Peled, founder and CEO of FTBpro, said; “Our mission, via the FTBpro platform, is to enable every football fan the ability to express their views and passions in a seamless, widespread and professional manner, using the market’s most advanced content generation tools and distribution. The versatile and interactive content adds a cutting edge, rich and complementing dimension to the experience available to football fans.”

The post FTBpro Inks $5.8M for Online Football appeared first on peHUB.

DeMet’s Candy, a company backed by private equity fund Brynwood Partners V L.P., has sold the TrueNorth brand to B&G Foods. Terms were not disclosed. The deal closed on May 6.

PRESS RELEASE
Brynwood Partners V L.P. announced today that its portfolio company, DeMet’s Candy Company, has sold the TrueNorth® brand and selected assets to B&G Foods, Inc. Terms and conditions of the transaction, which closed yesterday, were not disclosed.
TrueNorth is a leader in the better-for-you snack category. TrueNorth is a nationally distributed premium snack nut brand that DeMet’s acquired from Frito-Lay North America, a division of PepsiCo, Inc., in 2010. Under its ownership, DeMet’s introduced new TrueNorth flavor varieties to leading customers in the club, mass and food retail channels.
“The divestiture of the TrueNorth brand allows DeMet’s to focus on its core confectionary products including Turtles chocolate-caramel nut clusters, Flipz chocolate covered pretzels and Treasures filled chocolates,” said Peter Wilson, Vice Chairman of DeMet’s.
“We are pleased to announce the divestiture of TrueNorth,” said Hendrik J. Hartong III, Chairman, DeMet’s and Senior Managing Partner, Brynwood Partners. “We wish B&G Foods much success with this terrific brand. It has been a pleasure working with the B&G Foods team and we are excited to have completed our first transaction with them.”
Houlihan Lokey Capital, Inc. served as the investment banking advisor to DeMet’s.
About Brynwood Partners:
Founded in 1984 and headquartered in Greenwich, CT, Brynwood Partners is an operationally-focused private equity fund that makes control investments in lower middle market companies. Brynwood Partners targets companies operating in the consumer sector where it can leverage the operational expertise of its managing partners to create shareholder value.
Brynwood Partners is currently managing over $500 million of private equity capital for its limited partners who include U.S. and international pension funds, fund-of-funds, endowments, high net worth family investment offices and financial institutions. For more information on Brynwood Partners, please visit www.brynwoodpartners.com.
About DeMet’s Candy Company:
Formed in 2007 and majority owned by Brynwood Partners V L.P., DeMet’s is a leading manufacturer and marketer of chocolate confectionary products including Turtles, Flipz and Treasures. Headquartered in Stamford, CT, the company owns manufacturing facilities in Big Flats, NY and Mohnton, PA.

The post PE-Backed DeMet’s Candy Sells TrueNorth appeared first on peHUB.

San Francisco-based crowdfunding startup CircleUp has closed on $7.5 millionin Series A financing. With the new funding, CircleUp plans to hire engineers and designers to continue to build its technology. Union Square Ventures led the round. Google Ventures and existing seed round investors Rose Park Advisors and Maveron also participated. Andy Weissman, managing partner at Union Square Ventures, will join CircleUp’s board. David Krane, general partner at Google Ventures, will become a board observer.

PRESS RELEASE
CircleUp (www.circleup.com), a leading equity-based crowdfunding platform, announced today it has closed a $7.5 million Series A financing, the largest raise for an equity-based crowdfunding site. With the new funding, CircleUp plans to hire engineers and designers to build out the technology to serve more independent investors and small businesses.

Union Square Ventures, whose portfolio companies include Twitter, Kickstarter, Lending Club, CodeAcademy and Etsy among others, led the round. Google Ventures and existing seed round investors Rose Park Advisors, a firm led by disruptive technology innovator Clayton Christensen, Maveron, and financial services veteran David Topper also participated in the Series A round. Andy Weissman, Managing Partner at Union Square Ventures will join CircleUp’s Board of Directors and David Krane, General Partner at Google Ventures will become a board observer.

“CircleUp helps exceptional consumer and retail brands find the capital they need to grow from our private network of strategic investors,” said Ryan Caldbeck, CEO and co-founder of CircleUp. “The combination of Union Square’s incredible marketplace experience, and Google Ventures’ amazing operating team, will enable us to serve more customers and continue to hire exceptional talent to improve the transparency of private capital markets.”

Since its launch in April of last year, CircleUp has helped consumer companies from Connecticut to California raise more than $10 million. These companies are able to raise more than just capital on the platform; they also find business partners with experience in their industry through CircleUp’s partnerships with world class consumer companies which include Procter & Gamble and General Mills.

“Raising capital for non-tech companies is a huge challenge, and incredibly inefficient,” said Andy Weissman, Managing Partner, Union Square Ventures. “Early-stage consumer and retail, CircleUp’s focus, is where innovation happens in that industry but the space also suffers from a dearth of capital from traditional resources. CircleUp is transforming early-stage investing and enabling talented entrepreneurs to get the funding they deserve from passionate investors. We have a long history of helping to develop many successful marketplaces, and CircleUp shares the key characteristics with the very best. By improving information flow and market transparency, CircleUp helps investors make better decisions and businesses raise capital more efficiently, bringing an entire industry into the 21st century.”

“CircleUp is a classic disruptive innovation, elegantly simplifying the complex process of financing high growth small businesses and thereby expanding the addressable market by bringing capital to great non-tech companies that have historically struggled to get efficient access to it,” said Rose Park Advisors Managing Director Matt Christensen, who also led CircleUp’s Seed Round in 2012.

“In a short time, the team at CircleUp has built a product that, through their data and technology, is a better experience for users than raising money in the offline world could ever be,” said David Krane, General Partner at Google Ventures. “In addition, CircleUp is seeing classic network effects as more users join. By developing unique data on the private capital market, CircleUp can make the user experience on both sides even better.”

CircleUp’s success is driven by a team that includes investment professionals with deep background in consumer private equity; exclusive market focus on consumer products and retail and a regulatory approach that lets them help outstanding small businesses today, ahead of the JOBS Act implementation.

About CircleUp
CircleUp is a leading equity-based crowdfunding platform where accredited investors find free access to select private investments, easy tools to identify and diligence companies, and online transaction capability to make investments. For retail and consumer product entrepreneurs, CircleUp offers an efficient way to access a network of sophisticated investors as well as value added partners. For more information, visit http://circleup.com/ or https://circleup.com/jobs/ and send resumes to [email protected].

About Union Square Ventures
Union Square Ventures is one of the leading venture capital firms investing in Internet and Mobile Internet businesses. Located in New York, Union Square Ventures backs passionate, experienced entrepreneurs who are focused on creating highly scalable services and significant value propositions for their end users. Over the past 7 years, Union Square Ventures has been directly involved in the development of 40 companies and, through its principals’ prior firms, has participated in the launch of over 120 companies. For more information, visit www.usv.com.

About Google Ventures
Google Ventures provides seed, venture and growth stage funding to the most innovative and promising entrepreneurs across a variety of industries. Founded in 2009, Google Ventures has extensive entrepreneurial experience, deep technical knowledge, and expertise in building high growth, scalable products and companies. Among its 160+ investments are Nest, DocuSign, and Foundation Medicine. Google Ventures is headquartered in Mountain View, Calif., with offices in Boston, New York and Seattle. For more information, please visit www.googleventures.com.

About Rose Park
Rose Park Advisors, LLC (RPA), based in Boston, MA, is a specialized investment firm focused on identifying investment opportunities by applying the framework of disruptive innovation. The firm was founded in 2007 by Matt Christensen, and Harvard Business School’s Clayton Christensen, the NY Times bestselling author of The Innovator’s Dilemma, and architect of the framework of disruptive innovation.

The post CircleUp Raises $7.5M appeared first on peHUB.

North Carolina-based Plexus Capital, a firm focused on providing growth capital to lower middle market businesses, has raised $150 million from LPs, the firm announced Friday. The capital will be combined with leverage from the Small Business Administration in the same amount to create Plexus Fund III, with total available investment capital of $300 million, the firm said.

PRESS RELEASE
Plexus Capital, which specializes in providing growth capital to lower middle market businesses across the nation, has been named the U.S. Small Business Investment Company (SBIC) of the Year for 2013. In announcing that Plexus is the top SBIC of more than 300 in the nation, Small Business Administration (SBA) Administrator Karen Mills cited “Plexus Capital’s hard work, innovative ideas and dedication.” Plexus Capital will receive the SBIC of the Year Award June 21 during the 50th Anniversary of National Small Business Week.

The North Carolina-based firm has just completed raising $150 million in private capital from its long standing limited partners. Pending final SBA approval, this private capital will be combined with leverage from the SBA in the same amount to create Plexus Fund III, with total available investment capital of $300 million. Plexus invests across a broad range of industries and typically in privately-held, lower middle market businesses across the United States. Plexus Capital meets strict SBA licensing criteria in order to provide subordinated debt and equity capital as an SBIC serving small businesses across the nation.

“Being named the nation’s Small Business Investment Company of 2013 speaks to the value we are providing to our investors and small businesses across the country,” said Plexus Capital Managing Partner Bob Anders. “Plexus is distinguished by our focus on relationships, our determination to create access to growth capital for U.S. middle market businesses, and our proven ability to continue to earn the confidence of our investors. With investments in more than 50 businesses, and experience managing through all economic cycles, we have proven ourselves to be patient investors with the experience it takes to succeed.”

The SBA selected Plexus Capital for the honor based on its award criteria which included portfolio company revenue and employment growth, strong commitment to overall business growth, management of portfolio companies, and participation in the small business community.

About SBICs The Small Business Investment Company (SBIC) program, administered by the U.S. Small Business Administration (SBA), is a private-public partnership created in 1958 to fill the gap between the availability of growth capital and the needs of small businesses. The SBA’s Investment Division licenses qualified private equity fund managers and provides them with access to low-cost, government-guaranteed capital to make investments in U.S. small businesses. (see http://www.sba.gov/content/faqs)

About Plexus Capital With offices in Charlotte and Raleigh, N.C., Plexus Capital has $550 million under management and invests in middle market, high-growth companies located across the United States. Plexus Capital most often funds growth, acquisitions, leveraged buyouts, management buyouts, and stock repurchases. The firm launched its first fund in 2005. For more information see www.plexuscap.com/. Please feel free to contact either Robert Gefaell at (704) 927-6247 or Mike Becker at (919) 256-6342 if Plexus can be of assistance to you or your clients for financing needs.

The post Plexus Capital Raises $150M from LPs appeared first on peHUB.

Klöckner Pentaplast, a producer of rigid plastic films for packaging, has priced 225 million euros in Senior PIK notes, the company announced Friday. Klöckner Pentaplast is a portfolio company of SVP Global. Proceeds will be used to partially refinance Preferred Equity Certificates that were issued when the company was acquired by a group led by SVP Global in a June 2012 recapitalization, the company said.

PRESS RELEASE
Klöckner Pentaplast (the “Company”) announced today that Kleopatra Holdings 1 (the “Issuer”), a holding company of the Klöckner Group outside the restricted group for the extant senior secured notes, has priced €225 million aggregate principal amount of Senior PIK Notes due 2017 (the “Notes”) at par. The Notes will bear interest at a rate of 10.250% cash / 11.000% PIK to be paid semi-annually. The Company anticipates that consummation of the offering will occur on May 8, 2013, and intends to use the net proceeds of the offering to partially refinance Preferred Equity Certificates (“PECs”) that were issued when the Company was acquired in a June 2012 recapitalization by a group of investors led by SVP Global. Remaining proceeds will be used to fund general corporate purposes and pay transaction related fees and expenses.

The Notes will be offered only to qualified institutional buyers in reliance on the exemption from registration set forth in Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States to non-U.S. persons in reliance on the exemption from registration set forth in Regulation S under the Securities Act. The Notes have not been registered under the Securities Act, or the securities laws of any state or other jurisdiction, and may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities or blue sky laws and foreign securities laws.

The Company is the world’s leading producer of rigid plastic films for pharmaceutical, medical device, food, electronics, and general-purpose thermoform packaging, as well as printing and specialty applications and packaging solutions. Founded in 1965 in Montabaur, Germany, the Company has grown from its initial facility to 18 current global production facilities in 11 countries on four continents. The Company has sales of over €1.2 billion and employs more than 3,000 people committed to serving customers worldwide.

The post Klöckner Pentaplast Prices Notes appeared first on peHUB.

Checkpoint Systems Inc. has completed the previously-announced sale of its CheckView brand to Platinum Equity, a California-based private equity firm. The sale includes all continuing business operations and assets associated with the U.S. and Canadian retail security-oriented CheckView organization. Financial terms of the deal were not released.

PRESS RELEASE

Checkpoint Systems, Inc. CKP +0.18% today announced that it has completed the sale of its U.S. and Canadian CheckView(R) business to an affiliate of Platinum Equity, a California-based private equity firm. On March 25, 2013, the Company announced that it had reached a definitive agreement with Platinum Equity to acquire all continuing business operations and assets associated with the U.S. and Canadian CheckView business.

Checkpoint Systems, Inc.
Checkpoint Systems is a global leader in shrink management, merchandise visibility and apparel labeling solutions. Checkpoint enables retailers and their suppliers to reduce shrink, improve shelf availability and leverage real-time data to achieve operational excellence. Checkpoint solutions are built upon more than 40 years of RF technology expertise, diverse shrink management offerings, a broad portfolio of apparel labeling solutions, market-leading RFID applications, innovative high-theft solutions and its Web-based Check-Net(R) data management platform. As a result, Checkpoint customers enjoy increased sales and profits by improving supply-chain efficiencies, by facilitating on-demand label printing and by providing a secure open-merchandising environment enhancing the consumer’s shopping experience. For more information, visit www.checkpointsystems.com.

Forward-Looking Statement
This press release includes information that constitutes forward-looking statements. Forward-looking statements often address our expected future business and financial performance, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” or “will.” By their nature, forward-looking statements address matters that are subject to risks and uncertainties. Any such forward-looking statements may involve risk and uncertainties that could cause actual results to differ materially from any future results encompassed within the forward-looking statements. Factors that could cause or contribute to such differences include: the impact upon operations of legal compliance matters or internal controls review, improvement and remediation, including the detection of wrongdoing, improper activities, or circumvention of internal controls; our ability to integrate acquisitions and to achieve our financial and operational goals for our acquisitions; changes in international business conditions; foreign currency exchange rate and interest rate fluctuations; lower than anticipated demand by retailers and other customers for our products; slower commitments of retail customers to chain-wide installations and/or source tagging adoption or expansion; possible increases in per unit product manufacturing costs due to less than full utilization of manufacturing capacity as a result of slowing economic conditions or other factors; our ability to provide and market innovative and cost-effective products; the development of new competitive technologies; our ability to maintain our intellectual property; competitive pricing pressures causing profit erosion; the availability and pricing of component parts and raw materials; possible increases in the payment time for receivables as a result of economic conditions or other market factors; changes in regulations or standards applicable to our products; the ability to successfully implement global cost reductions in operating expenses including, field service, sales, and general and administrative expense, and our manufacturing and supply chain operations without significantly impacting revenue and profits; our ability to maintain effective internal control over financial reporting; and additional matters disclosed in our Securities and Exchange Commission filings. We do not undertake to update our forward-looking statements, except as required by applicable securities laws.

Photo courtesy of Shutterstock.

The post Checkpoint Completes CheckView Sale to Platinum Equity appeared first on peHUB.

Publicly traded CTPartners Executive Search Inc. has acquired Augmentum Consulting Ltd., a executive search firm based in London. Previously, Augmentum had been operating as Amrop Augmentum. Terms of the deal were not released.

PRESS RELEASE
CTPartners Executive Search Inc. (nyse mkt:CTP), a leading executive search firm, today announced that it has acquired Augmentum Consulting Ltd., a premier executive search firm based in London. Prior to this transaction, Augmentum had been operating as Amrop Augmentum.

Augmentum Consulting has 13 client-facing consultants working for 20 of the FTSE 100, a number of Fortune 500 companies, and innovative and entrepreneurial market leaders. The company works across most industry verticals, and has specific expertise in the Professional Service & Outsourcing; Technology, Media & Telecommunications; Industrial; Automotive; Consumer; Retail; Sport & Leisure; and Financial Services industries. These areas of strength also complement CTPartners’ existing UK business. In addition, Augmentum has a leading edge Non-Executive Directorship (NED) practice which offers training and recruitment services.

“With a reputation of delivering complex hiring mandates for leading global organizations across industries, the combination of the two firms in the UK market and globally will provide a strong competitive advantage and enhanced opportunities,” commented Brian Sullivan, CEO of CTPartners. “Acquiring Augmentum is consistent with our growth strategy and the transaction will have an immediate positive financial impact.”

Guy Barnes, Managing Director of Augmentum said, “CTPartners is the quality leader among global search firms known for generating outstanding results for its clients. Brian and I have known each other for five years and share the passion of quality search execution which has been the underlying growth driver for both of our firms. We are pleased to join the CTPartners’ team and believe that with our firms coming together we will offer unprecedented executive recruitment services to our clients.”

About CTPartners

CTPartners is a leading performance-driven executive search firm serving clients across the globe. Committed to a philosophy of partnering with its clients, CTPartners offers a proven record in C-Suite, senior executive, and board searches, as well as expertise serving private equity and venture capital firms.

With origins dating back to 1980, CTPartners serves clients with a global organization of more than 400 professionals and employees, offering expertise in board advisory services and executive recruiting services in the financial services, life sciences, industrial, professional services, retail and consumer, and technology, media and telecom industries. Headquartered in New York, CTPartners has 22 offices in 15 countries.

The post CTPartners Executive Search Buys Augmentum Consulting appeared first on peHUB.

Connecticut Innovations has invested $500,000 in P2 Science Inc. of New Haven, Conn., investing through its Seed Investment Fund. P2 Science is a specialty chemical company. Connecticut Innovations is a quasi-public authority focused on growing Connecticut businesses.

PRESS RELEASE
Connecticut Innovations (CI), the state’s quasi-public authority responsible for growing Connecticut businesses through innovative financing and strategic assistance, today announced that it has made a $500,000 investment in P2 Science Inc. of New Haven, Conn., through its Seed Investment Fund.

“We are delighted to invest in this Yale spinoff, co-founded by the Yale-affiliated scientist and administrator who is widely considered to be the father of green chemistry,” said Claire Leonardi, chief executive officer and executive director of CI. “We are also excited by the prospect of P2 Science establishing a production facility in the Greater New Haven region for its specialty chemicals. Investments supporting technology transferred from Connecticut universities to local, emerging ventures, such as P2 Science, are a high priority for the Malloy administration.”

P2 Science is a specialty chemical company dedicated to producing high-value, high-margin consumer and industrial product ingredients from biomass. The company’s products will be vegetable-based equivalents of chemical ingredients previously only available from petrochemical sources and will be suitable for direct substitution for such ingredients in customer products. Because they will be derived from soy, canola, palm and other oils, as well as wood, grass and other plant-based feedstocks, P2 Science’s products will meet the growing demand for renewable alternatives.

“We have appreciated the financial and strategic support provided by Connecticut Innovations to date. They are an excellent partner and we look forward to a continued strong relationship as we execute our business plan,” said Neil A. Burns, chief executive officer of P2 Science.

The company has developed a novel chemical process, known as hybrid ozonolysis, to convert biomass into aldehydes for use in fragrances and flavors, di-acids for use in cosmetics and polymers, and derivatives of aldehydes, such as alcohols, esters and surfactants, for use in cosmetics, personal care products and lubricants. P2 Science has licensed some of its intellectual property from Yale University and has established a collaborative relationship with the University of Alberta.

CI’s investment of $500,000 in P2 Science was part of a $675,000 financing round also involving Elm Street Ventures. In 2012 and earlier in 2013, CI provided pre-seed funding to P2 Science. Following CI’s recent investment, CI managing director of investments Daniel Wagner joined P2 Science’s board of directors.

CI’s Seed Investment Fund provides investments of up to $1 million to Connecticut-based, emerging technology companies at the pre-Series A stage of development. CI has invested a total of $10.5 million in 19 companies through this fund since it was launched six years ago.

About Connecticut Innovations Inc.
Connecticut Innovations (CI) is a quasi-public corporation providing equity, debt and bond financing and other forms of financial assistance to companies in all stages of the business life cycle, from startup to later stage. CI offers its portfolio companies strategic guidance and collaborations with partners in business, finance, education, government and nonprofit sectors. CI’s initiatives are designed to grow the state’s economic and technology base, and to stimulate business investments and job creation. For more information on CI, please visit www.ctinnovations.com.

About P2 Science Inc.
P2 Science is actively developing customer and partner relationships in the fields of flavor and fragrance ingredients, cosmetics, lubricants, polymers and surfactants.

The post Connecticut Innovations Puts $500K into P2 Science appeared first on peHUB.

Gridiron Capital has invested in Tokyo Inc., which operates the casual restaurant chain Tokyo Joe’s. Specifics of the investment were not released. Tokyo Joe’s is based in Denver. Gridiron Capital is based in New Canaan, Conn.

PRESS RELEASE
Gridiron Capital, LLC (“Gridiron”) is pleased to announce an investment in Tokyo, Inc. (“Tokyo Joe’s”). Based in Denver, CO and founded in 1996, Tokyo Joe’s is a fast casual modern Asian restaurant chain that serves fresh made-to-order rice and noodle bowls, sushi and salads. Tokyo Joe’s provides its customers with healthy, fresh, all-natural and organic ingredients with a variety of proprietary flavorful sauces. The Company is focused on health and personal well-being with the mantra “Eat good. Feel good.”

“Tokyo Joe’s has been successful because of its people and their singular focus on the customer by providing fresh and healthy ingredients and top notch service,” said Larry Leith, Chief Innovation Officer and Founder of Tokyo Joe’s. “We are very excited to partner with Gridiron to achieve Tokyo Joe’s growth plans while preserving its unique culture.”

“Tokyo Joe’s ability to provide customers with unrivaled fresh and healthy ingredients, coupled with the in store dining experience, makes it a unique and highly scalable platform,” said Greg MacDonald, Chief Executive Officer of Tokyo Joe’s. “With Gridiron’s support and the strength of the core brand, we believe Tokyo Joe’s is positioned for continued growth.”

Mr. Thomas A. Burger Jr., Managing Partner, Gridiron Capital, LLC stated, “We are very excited to be partnering with Larry Leith, Greg MacDonald and the rest of the Tokyo Joe’s management team to acquire the business. Their passion, energy and commitment to providing great food and a great dining experience will be the foundation of the business’ growth potential.”

“Gridiron’s partnership with Tokyo Joe’s will enable the company to accelerate growth and to expand into new geographies,” said Kevin Jackson, Managing Director of Gridiron Capital, LLC. “Larry and his team have built a tremendous concept over 17 years, and we are excited to partner with them to build on their legacy of success.”

About Tokyo Joe’s:
Headquartered in Denver, CO, Tokyo Joe’s is a regional fast casual modern Asian restaurant. The Company offers a mix of signature and made-to-order rice and noodle bowls as well as signature salads and fresh sushi rolls. Tokyo Joe’s currently operates 25 locations in the greater Denver metro area.
www.tokyojoes.com

About Gridiron Capital:
Gridiron Capital, LLC, headquartered in New Canaan, Connecticut, is a private equity firm focused on creating value by acquiring and building middle-market manufacturing, service and specialty consumer companies in the United States and Canada. Gridiron’s principals work closely with management teams to develop strategies for portfolio companies, as well as providing resources to execute business plans and build industry-leading companies.

The post Gridiron Capital Backs Tokyo Joe’s appeared first on peHUB.

Dash Multi-Corp. has acquired Pathway Polymers, a leading supplier of polyurethane tire fill material and equipment, buying the company from the Vita Group. Dash is a platform portfolio company of Arsenal Capital Partners. Terms were not released.

PRESS RELEASE
Dash Multi-Corp. (Dash), today announced the acquisition of Pathway Polymers, a leading supplier of polyurethane tire fill material and equipment, from the Vita Group. Dash is a platform portfolio company of Arsenal Capital Partners (Arsenal) which focuses on the specialty technologies of polyurethane systems, vinyl plastisols and recycled rubber products.

Established in 1971, Pathway Polymers invented TyrFil, the world’s first polyurethane tire fill material intended to flatproof tires. As a key supplier to major mining, construction, rental and OEM customers, Pathway Polymers is a leading supplier of tire fill for flatproofing solutions in the U.S. and international markets. Pathway Polymer also owns an exclusive patented AutoFil Recycler System for the aftermarket and the OE AutoFil Recycler System designed for original equipment manufacturers to keep millions of pounds of post-consumer tire fill and recycled pneumatic tires out of landfills each year. For additional information on Pathway Polymers please visit www.pathwaypolymers.com.

Andy Harris, Chief Executive Officer of Dash, said, “The acquisition of Pathway Polymers fits with our growth strategy in expanding Dash’s global polyurethane capabilities. This acquisition builds on our focus to deliver the best product and service to our customers. We are delighted to partner with the management and employees of Pathway Polymers and support their customers and growth worldwide.” Following the closing, Pathway Polymers will be part of the Dash Tire Fill business in the Polyurethane Systems Business Unit. Pathway is a highly complementary combination with the tire fill business of Arnco, which was also recently acquired by Arsenal as part of the Dash platform. Together the Arnco and Pathway teams will provide even greater value with technology, support and service to their customers around the world.

Joe Danules, President and Chief Executive Officer of Pathway Polymers said, “Pathway Polymers is now better positioned to serve its customers globally. Our strategy fits with Dash’s desire to address the growing polyurethane tire fill market. This partnership will be good to our global customers and we look forward to being part of the Dash urethanes team.”

Arsenal, a leading New York-based private equity firm that invests in middle-market specialty industrial and healthcare companies, acquired Dash on December 26, 2012 to create a leading global polyurethane and specialty materials platform.

John Televantos, a Partner at Arsenal Capital Partners and co-head of the firm’s Specialty Industrials Group, said, “Pathway Polymers has a long history of innovation in the polyurethane tire fill market and fits very well with Dash’s history and culture. The polyurethane technology continues to evolve and address unmet needs in the market. As we expand Dash Polyurethane Systems, we will support our customers in their growth.” Tim Zappala, a Partner at Arsenal Capital Partners and co-head of the firm’s Specialty Industrials Group, added, “The combination builds on our strategy to create a leading polyurethane business offering a broad portfolio of products and technologies that serve multiple end markets.”

About Dash Multi-Corp.Dash Multi-Corp. is a company based in St. Louis, MO which manufactures custom formulated polyurethane systems, specialty vinyl plastisols and recycled rubber products. The business also manages one of the largest tire recyclers in the United States, which processes approximately 35 million pounds of tires each year which the company converts into environmentally preferred “green” recycled rubber products, keeping rubber waste out of landfills.

For additional information on Dash Multi-Corp. please visit www.dashmulticorp.com.

About Arsenal Capital PartnersFormed in 2000, Arsenal Capital Partners is a leading New York-headquartered private equity firm that invests in middle-market specialty industrial and healthcare companies. Arsenal makes investments in sectors where the firm has significant prior knowledge and experience. The firm 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.

The post Dash Multi-Corp. Buys Pathway Polymers appeared first on peHUB.

Management consulting firm A.T. Kearney announced that Robert Haas will lead its private equity practice in the Americas. Haas is based in A.T. Kearney’s New York office. Haas began his career with A.T. Kearney in 1996 and was elected to partner in 2003.

PRESS RELEASE
Global management consulting firm A.T. Kearney today announced that Robert (Bob) Haas will lead A.T. Kearney’s Private Equity Practice in the Americas.

A.T. Kearney has successfully supported private equity funds and their portfolio companies since the private equity industry began, bringing not only PE expertise, but industry and deep functional expertise to its clients. Under Mr. Haas’s leadership, A.T. Kearney will leverage its unparalleled capabilities in corporate strategy, revenue growth and operational improvement to help private equity funds make attractive investments, generate profit growth in their portfolios, and deliver superior returns to their investors.

Daniel Mahler, lead partner for the Americas notes, “Bob is uniquely qualified for this role based on his vast experience driving profit growth for companies in a wide variety of industries, as well his expertise in private equity and corporate M&A.”

According to Mr. Haas, “The changing dynamics of the Private Equity industry fit well with A.T. Kearney’s unique capabilities. A.T. Kearney’s deep industry knowledge and operations transformation experience deliver an unmatched combination of strategic insights and tangible EBITDA improvements to our clients.”

Mr. Haas began his career with A.T. Kearney in 1996 and was elected to partner in 2003. In addition to his expertise in private equity, he has served global clients in the consumer goods, healthcare, high-tech and financial services industries on strategic and transformational issues such as corporate strategy, M&A, and enterprise transformation and restructuring. In addition to Private Equity, Mr. Haas has responsibility for the Mergers & Acquisitions Practice in the Americas.

Mr. Haas is based in A.T. Kearney’s New York office.

About A.T. Kearney A.T. Kearney is a global team of forward-thinking, collaborative partners that delivers immediate, meaningful results and long-term transformative advantage to clients. Since 1926, we have been trusted advisors on CEO-agenda issues to the world’s leading organizations across all major industries and sectors. A.T. Kearney’s offices are located in major business centers in 39 countries.

The post Robert Haas to Lead A.T. Kearney’s PE Practice appeared first on peHUB.

Sioux Falls, South Dakota-based DocuTAP, a provider of electronic health records and practice management technology for urgent care providers, has raised $11.9 million in Series B financing. Bessemer Venture Partners provided the financing, along with return backer Bluff Point Associates.

PRESS RELEASE
DocuTAP, a Sioux Falls, South Dakota-based provider of an integrated EHR (electronic health records) and practice management technology for urgent care providers, announced today it has raised $11.9 million in Series B funding from global venture capital firm Bessemer Venture Partners (BVP). DocuTAP’s existing financial partner, Bluff Point Associates (BPA), also participated in the round. DocuTAP will use the proceeds to increase their market presence, accelerate sales, and bolster their technology in the fast-growing urgent care marketplace. DocuTAP has already experienced tremendous growth over the past twelve months and has tripled its workforce to better support and develop its platform and services.

Founded in 2000, DocuTAP offers EHR and practice management software to digitalize urgent care clinic processes, removing the need for manual paper documentation by administrators, nurses, and physicians. DocuTAP’s distinguishing feature is its easy-to-implement, web-based platform which can be used directly on mobile tablets. Streamlining patient care and physician efficiency, DocuTAP offers customizable templates, automated analytics, and valuable reporting information. DocuTAP also offers convenient revenue cycle services for billing and collections.

“The DocuTAP team and I are excited to welcome Bessemer to the family,” said Eric McDonald, Founder and CEO of DocuTAP. “Bessemer has a proven track record of working with fast growing technology companies that are both innovators and leaders in their respective fields. This funding is a testament to our company’s commitment to client success and passion for delivering innovative healthcare solutions.”

“Urgent care is one of the fastest growing sectors within the healthcare marketplace and we are excited to be investing in DocuTAP, the leading EHR and practice management platforms serving the urgent care market,” said Steve Kraus, partner at Bessemer Venture Partners. “Bessemer’s history of successfully investing in both vertical SaaS solutions and healthcare companies gives us the unique knowledge and expertise to help Eric and the DocuTAP team to continue to build on the platform.”

About DocuTAP

DocuTAP provides urgent care practices with an innovative approach to workflow management. Its flagship product, DocuTAP’s EHR and Practice Management software, fully integrates practice management and electronic medical records capabilities in one complete system. DocuTAP software features automated and customizable tools that enhance healthcare providers’ ability to deliver and manage patient care. Our experienced, knowledgeable staff is committed to improving the delivery of high-quality healthcare. For more information, call (877) 697-4696 or visit www.docutap.com.

About Bessemer Venture Partners With $4.0 billion under management, Bessemer Venture Partners (BVP) is a global venture capital firm with offices in Silicon Valley, Cambridge, Mass., New York, Mumbai, Bangalore and Herzliya, Israel. BVP delivers a broad platform in venture capital spanning industries, geographies, and stages of company growth. From Staples to Skype, VeriSign to Yelp, LinkedIn to Pinterest, BVP has helped incubate and support companies that have anchored significant shifts in the economy. More than 100 BVP-funded companies have gone public on exchanges in North America, Europe and Asia. See www.bvp.com or follow BVP on Twitter: @bessemervp

About Bluff Point Associates

Bluff Point Associates is a private equity firm based in Westport, Connecticut. Bluff Point actively invests in information services companies supporting the banking, trust, securities, retirement and wealth management sectors of the financial services industry, as well as the healthcare information services sector. Bluff Point’s team collectively has decades of experience in recognizing a company’s growth potential and working with its management to reach that potential.

The post DocuTAP Closes $11.9M appeared first on peHUB.

CardioFocus has added $11 million in debt financing, the company announced. The credit facility was awarded to CardioFocus from both Oxford Finance and Silicon Valley Bank. CardioFocus is headquartered in Marlborough, Mass.

PRESS RELEASE
Oxford Finance LLC (“Oxford”), a specialty finance firm that provides senior debt to life sciences and healthcare services companies, today announced the closing of an $11 million round of debt financing for CardioFocus. The credit facility was awarded to CardioFocus from both Oxford and Silicon Valley Bank. Funds will be used to increase the company’s available capital to fund growth, while it expands its international commercialization and completes enrollment in its pivotal trial of the CardioFocus HEARTLIGHT Endoscopic Ablation System.

“CardioFocus has had impressive results, treating more than 1,300 patients in Europe and the United States using its cutting-edge technology to treat patients with atrial fibrillation,” said Christopher A. Herr, managing director for Oxford Finance. “We are very pleased to provide an additional round of capital to CardioFocus to support the company’s continued growth and innovative product development.”

“We’re a proud partner of CardioFocus, having been with the team since it was just starting out,” said Christina Zorzi, vice president of healthcare and life sciences for Silicon Valley Bank. “Today, CardioFocus continues to surpass its ambitious goals with a great team and an important mission to restore the quality of heart patients’ lives. We continue to be inspired by their work and are happy to be able to support their efforts.”

“This financing will help us complete patient enrollment in our pivotal U.S. clinical trial, as well as continue to execute on our commercialization efforts in Europe, where we are seeing rapid adoption throughout leading medtech markets,” said Renny Clark, chief financial officer of CardioFocus. “We appreciate the support from our lending partners Oxford Finance and Silicon Valley Bank during this exciting time, as we continue to accelerate sales growth abroad while preparing for an FDA submission in the U.S.”

About Oxford Finance LLC

Oxford Finance is a specialty finance firm providing senior secured loans to public and private life sciences and healthcare services companies worldwide. For over 20 years, Oxford has delivered flexible financing solutions to its clients, enabling these companies to maximize their equity by leveraging their assets. In recent years, Oxford has originated over $2 billion in loans, with lines of credit ranging from $500 thousand to $50 million. Oxford is headquartered in Alexandria, Virginia, with additional offices in California, Massachusetts, Illinois and North Carolina. For more information visit www.oxfordfinance.com.

About Silicon Valley Bank

Silicon Valley Bank is the premier bank for technology, life sciences, cleantech, venture capital, private equity and premium wine businesses. SVB provides industry knowledge and connections, financing, treasury management, corporate investment and international banking services to its clients worldwide through 28 U.S. offices and six international operations. SIVB -2.62% www.svb.com.

Silicon Valley Bank is the California bank subsidiary and the commercial banking operation of SVB Financial Group. Banking services are provided by Silicon Valley Bank, a member of the FDIC and the Federal Reserve System. SVB Financial Group is also a member of the Federal Reserve System.

About CardioFocus, Inc.

CardioFocus, Inc. is a medical device manufacturer dedicated to advancing ablation treatment for cardiac disorders such as atrial fibrillation (AF). Its novel HEARTLIGHT� Endoscopic Ablation System for catheter ablation incorporates an endoscope to provide physicians with the capacity to see within the heart, and for the first time, visually direct the application of laser energy to achieve durable pulmonary vein isolation.

The HeartLight Endoscopic Ablation System is commercially available at leading institutions throughout Europe and in Australia. The device is investigational in the U.S., and currently the focus of a pivotal trial initiated in 2012. CardioFocus is headquartered in Marlborough, MA, USA.

The post CardioFocus Seals $11M in Debt Financing appeared first on peHUB.

ORIX Ventures said that it has closed a subordinated term loan to Virtustream, a provider of enterprise class cloud software and services. The money will be used for growth capital, the firm said. Specific terms of the deal were not released.

PRESS RELEASE
ORIX Ventures announces the closing of a subordinated term loan to Virtustream, a leading enterprise class cloud software and Infrastructure as a Service (IaaS) provider. The funding will provide growth capital to support further product enhancements and expansion across new geographic markets and industry verticals as demand for enterprise class cloud solutions continues to increase rapidly.

“Its team understands our business, and this financing will further drive client growth, accelerate enhancements to our cloud solutions and expand Virtustream’s geographic coverage to meet rapidly escalating cloud demand, particularly from the enterprise, service provider and government market sectors.”
Headquartered in Bethesda, Maryland, Virtustream delivers enterprise class cloud solutions to enterprises, governments and service providers. With Virtustream, businesses can move complex production applications to the cloud and benefit from the dramatic operational advantages and cost savings of cloud computing. This funding highlights ORIX Ventures’ flexible growth capital solutions for high-growth companies and its ability to team up with Silicon Valley Bank.

“We are excited to be working with ORIX Ventures,” said Mike Provenzano, CFO of Virtustream. “Its team understands our business, and this financing will further drive client growth, accelerate enhancements to our cloud solutions and expand Virtustream’s geographic coverage to meet rapidly escalating cloud demand, particularly from the enterprise, service provider and government market sectors.”

Jeff Bede, managing director in ORIX Ventures’ Washington, D.C. office, commented, “We are impressed by the significant traction and product disruption of Virtustream’s cloud software and IaaS solutions. With our resources, ORIX Ventures is well equipped to support its continued growth as a leading cloud software and IaaS provider.”

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 more than 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, visit www.orix.com.

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

About Virtustream

Virtustream is a leading cloud innovator offering enterprise class cloud solutions to enterprises, governments and service providers. Virtustream enables businesses to move complex production applications to the cloud – whether private, public or hybrid – while delivering the full economic and business benefits of the cloud. Virtustream offers xStream, cloud management software for private/public/hybrid clouds and also offers the Virtustream Cloud which provides secure, high availability, Infrastructure as a Service (IaaS) to enterprises. Both xStream and the Virtustream Cloud deliver secure, cloud efficiency with performance SLAs for mission critical applications (SAP, Oracle, Microsoft and thousands more). Virtustream’s solutions are backed by professional services to design, migrate to, and manage clouds.

Virtustream offers these enterprise class cloud solutions worldwide; owns data centers in the U.S. and EMEA; operates an international Cloud Exchange, SpotCloud®; has offices in San Francisco, Atlanta, New York, Washington D.C., Toronto, London, Dubai, Saudi Arabia and has partners in Asia and China.

The post ORIX Ventures Backs Virtustream with Debt Financing appeared first on peHUB.

Square 1 Bank announced that Rilus Graham has relocated to Seattle to grow the bank’s life sciences practice in the Pacific Northwest. Graham will manage the region’s existing life sciences portfolio and establish new connections in the area, the firm said.

PRESS RELEASE
Square 1 Bank, the premier banking partner to entrepreneurs and the venture capital community, today announced that Rilus Graham has relocated to Seattle to grow the bank’s life sciences practice in the Pacific Northwest. Mr. Graham will manage the region’s existing life sciences portfolio and establish new connections within the area’s entrepreneurial, venture capital, and industry communities.

“Rilus’ fierce drive and passion for startups, networking and the life sciences industry is a tremendous asset as the bank continues to grow our life sciences practice,” said Scott Foote, founder, senior vice president and managing director of Square 1 Bank’s Life Sciences West practice. “He has already done great work in helping to build our portfolio and reputation in San Diego, and I am confident he will continue to blaze trails as he takes this step. With Rilus’ addition to the Seattle team, we are reinforcing our commitment to the startup communities of the Pacific Northwest region and broadening our capabilities to best meet our clients’ needs – providing additional access to flexible, focused solutions and service to help them be successful.”

On moving to Seattle, Graham added, “Being part of Square 1′s west coast life science launch in 2009 was a huge opportunity for me. I am excited to take those experiences and lead a similar effort in Seattle, as the bank looks to grow our life sciences practice here. I plan to hit the ground running; bridging existing relationships with new partnerships.”

Since joining Square 1 Bank in 2007, Graham has served in several roles of increasing responsibility, starting as a portfolio analyst at the bank’s headquarters in Durham, NC where he supported technology and life sciences portfolios. In 2009 Graham moved to San Diego to help jumpstart the bank’s life sciences practice on the west coast. There, Graham played a key role in expanding Square 1 Bank’s presence in the Pacific Southwest, while also co-founding Spark Bio, a life science venture capital networking association.

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.

The post Square 1 Bank Expands into Nortwest appeared first on peHUB.

Park-Ohio Holdings Corp. has acquired Bates LLC from NYX Inc. Based in Lobelville, Tennessee, Bates is a manufacturer of tight tolerance automotive hoses and industrial gaskets. Terms of the deal were not released.

PRESS RELEASE
Angle Advisors is pleased to announce that Park-Ohio Holdings Corporation (“Park-Ohio”) has acquired Bates, LLC (“Bates” or the “Company”) from NYX, Inc. (“NYX”). Angle Advisors acted as the exclusive investment banking advisor to NYX in completing this transaction.

NYX Bates Logos Based in Lobelville, Tennessee, Bates is a leading manufacturer of high quality, tight tolerance automotive hoses and industrial gaskets. The Company’s product offering includes rubber hoses, nylon hoses, thermoplastic tubes, and rubber gaskets. The Company’s manufacturing capabilities include rubber and nylon extrusion, thermoplastic extrusion, thermoplastic injection molding, hose forming, assembly, and testing. Bates sells to both automotive and industrial customers and ships to 125 destinations around the world.

Edward Crawford, Chairman & CEO of Park-Ohio, noted, “Bates is another example of a look-alike acquisition that fits with Park-Ohio’s current goal of growing its three business silos. Bates has been in business over 40 years and has been servicing a great list of customers with an experienced workforce. We expect the annual revenues from Bates to exceed $45 million and be accretive to Park-Ohio earnings.”

Jay Sandhu, Chief Executive Officer of NYX, commented, “Our management team at Bates has performed at a high level and they are excited to leverage Park-Ohio’s extensive resources to grow the business. Although we will miss our Bates co-workers, the transaction will allow us to focus our resources and attention to the upcoming launches of our core offerings, as well as the expansion of our Tennessee molding operation and the startup of NYX, Mexico. We’d also like to thank the team at Angle Advisors who executed a very efficient sale process. We are thrilled with the results of this transaction and found Angle’s execution ability and industry relationships to prove critical.”

Based in Livonia, Michigan, NYX designs, develops, and manufactures interior, automotive systems, and technology solutions for the automotive industry. For additional information, please visit www.nyxinc.com.

Park-Ohio is a leading provider of supply management services and a manufacturer of highly-engineered products. Headquartered in Cleveland, Ohio, the Company operates 37 manufacturing sites and 45 supply chain logistics facilities throughout North America, Europe, and Asia. Park-Ohio’s stock is traded on the NYSE under the ticker symbol “PKOH.” For additional information, please visit www.pkoh.com.

Angle Advisors, with offices in the United States, Germany, the United Kingdom, and China, specializes in mergers and acquisitions with a particular emphasis on the vehicular and industrial sectors. The firm’s 33 professionals have completed 82 M&A transactions since the beginning of 2009 for multinational corporations, privately-held companies, private equity funds, and public sector clients.

The post Park-Ohio Holdings Acquires Bates appeared first on peHUB.

Ascension Health Ventures and Heritage Group have put an undisclosed amount of new capital into Vivify Health Inc., formerly known as Intuitive Health. The company develops a cloud-based “Remote Care Management” platform for hospitals and home health agencies.

PRESS RELEASE
Vivify Health, Inc. (“Vivify”), formerly Intuitive Health, Inc., has received funding from two healthcare investment firms, Ascension Health Ventures (“AHV”) and Heritage Group (“Heritage”). Proceeds will be used to accelerate the delivery of Vivify’s cloud-based Remote Care Management platform that enables hospitals, home health agencies, payers and other stakeholders to accomplish population health objectives, including reducing readmissions, managing chronic diseases, improving care transitions, and engaging patients in their own well-being.

Vivify’s Software as a Service (SaaS) platform delivers the next generation of direct-to-consumer care, including customized care plans, coaching, educational video content, and interactive video conferencing for any clinical condition. The system’s capabilities include aggregating in-home health status and vital signs from wirelessly enabled personal health devices, thereby automatically transmitting that data to providers and caregivers via wireless networks. The platform seamlessly integrates with health information processes and systems such as EMRs, PHRs and HIEs, enabling organizations to improve clinical outcomes and quality, derive caregiver efficiencies, and enhance the patient and provider experience.

Vivify Health was founded under the brand Intuitive Health in 2009 by Eric Rock, a successful entrepreneur whose prior companies include the provider of the nation’s leading emergency department information system. The rebranding to Vivify, which means to “renew and revitalize”, better reflects the company’s approach to optimizing patient engagement within the broader framework of population health. Rock is joined by a management team with more than 150 years of relevant clinical, telehealth and health system integration experience.

“We are pleased to complete this round of funding, and believe that our financial partners’ commitment further validates the powerful growth opportunities ahead for Vivify as we help improve the health of patients across the entire continuum of care,” said Rock. “It is important to note that before our customers can experience their desired outcomes with at-risk populations, they first must possess the tools that enable continual patient engagement. Our highly intuitive software delivered via common consumer devices is a winning combination for all, allowing the patient to stay connected with their providers, family and friends.”

More than three years in development, Vivify has been deployed in large health systems since early 2011 and has proven highly effective at delivering value and improving patient outcomes in multiple Institutional Review Board (IRB) settings across the United States. Vivify’s commitment to the IRB model was rooted in their confidence to further the degree of credible outcomes associated with their offering.

“We have demonstrated Vivify’s ability to virtualize care delivery to the home, well beyond what other remote care solutions provide today,” said Robin Hill, RN, Vice President of Clinical Solutions for Vivify. “While many legacy systems are designed solely for chronic diseases such as diabetes or congestive heart failure, Vivify has no such limitations. The elegance and flexibility of our platform’s architecture combined with our in-house clinical care plan expertise sets the stage for this comprehensive approach.”

Compared to traditional hardware-centric approaches to remote care, the Vivify platform delivers a network and device-agnostic approach that reduces unnecessary costs and increases flexibility via “connected apps”. To ensure unrivaled quality, scalability, and security, Vivify has formed alliances with multiple leading global companies, including AT&T, Ericsson, Polycom, and Samsung. “We recognized early on that delivering a scalable consumer-connected platform, including mobile high-definition video conferencing, requires core competencies of these leading consumer technology providers,” said Rock.

Vivify’s strategic investors, AHV and Heritage, have more than $715 million in combined capital under management. Both firms bring healthcare expertise and strategic value through their base of limited partners, comprised of more than 580 acute care hospitals, a prominent health plan, a leading home health and hospice care company, and a leading distributor of medical supplies and pharmaceuticals. In conjunction with the investment, Victor Kats from AHV and Rock Morphis from Heritage have joined Vivify’s Board of Directors.

“As market dynamics continue to evolve and providers assume more responsibility for post-acute care management, Vivify’s solution will have tremendous applicability,” said Rock Morphis, Managing Director of Heritage Group. “We are excited to be part of this company at such an instrumental time in its growth and development.”

“We share Vivify’s vision that the next generation technology and service requirements for effective population health management call for enabling hospitals, physicians, nurses and other stakeholders to successfully engage with the patient outside of the care setting,” said Victor Kats, Investment Director of Ascension Health Ventures. “Vivify’s flexible platform can drive this transformational change forward.”

Vivify Health will demonstrate its solutions at the annual ATA international conference May 5-7 in Austin, TX in booths #912 (AT&T), #632 (Polycom), and #342 (Qualcomm Life). To schedule a meeting or demonstration while attending ATA, please email Vivify Health at [email protected].

About Vivify Health
Vivify Health delivers, through common and non-proprietary consumer mobile electronics, a cloud-based, device-agnostic, and ecosystem-connected Remote Care Management platform to enable its provider and payer-based customers to impact a great deal of their overarching strategic objectives. Examples include the ability to advance overall population health, optimize patient engagement, reduce unnecessary readmissions, improve patient satisfaction, facilitate expansion of physician practice services, and achieve significant cost avoidance.

Unrestrained to any particular clinical condition, Vivify’s flexible platform facilitates healthcare consumers of all types to maintain their health at home while staying connected to their providers and caregivers. Patient engagement is further enhanced with educational video content and embedded high-definition video conferencing capabilities. Through delivery of multi-dimensional, customizable, and algorithmic-branching care plan templates, both qualitative and quantitative data are collected, delivered instantly to caregivers’ mobile devices and seamlessly integrated within the providers’ ecosystem. For more information, visit www.vivifyhealth.com or connect on Twitter.

About Ascension Health Ventures
Ascension Health Ventures was launched in 2001 as a wholly-owned subsidiary of Ascension Health. Today it is a subsidiary of Ascension Health Alliance, a parent holding company formed in 2012. AHV’s role has been to construct and manage a strategic portfolio of investments that deliver a venture investment return, have the potential to transform the healthcare industry, and significantly enhance the experience for patients, their families and their caregivers. AHV has three venture funds under management and its limited partners include Ascension Health Alliance, Catholic Health East, Catholic Health Initiatives, Decatur Memorial Hospital, Dignity Health, Mercy, and Intermountain Healthcare. For more information, go to www.ascensionhealthventures.org.

About Heritage Group
Heritage Group is a Nashville-based, venture capital firm with over 25 years of experience financing, operating and advising companies at all stages. Created by a diverse group of the nation’s leading healthcare services firms, the Heritage Healthcare Innovation Fund is a $167M strategic initiative focused on investments in businesses that improve the delivery of healthcare services.

The post Vivify Health Adds Funding appeared first on peHUB.

HybridCluster, an early stage software company, has raised $1 million in fresh capital from investors including Jason Seats, former vice president of engineering at Rackspace Cloud; Charles Grimsdale, partner at Eden Ventures; Anil Hansjee, former Head of Corporate Development, Google EMEA; and Toivo Annus, former Head of Engineering at Skype.

PRESS RELEASE
HybridCluster, an early stage software solution provider to the cloud and hosting industry, today announces completion of a $1m fundraising and immediate availability of version 2.0 of its integrated suite of storage, replication and web clustering software. Amongst the investors are established industry figures including Jason Seats (former VP of Engineering of Rackspace Cloud), Charles Grimsdale (partner at Eden Ventures and former CEO & founder of OD2), Anil Hansjee (former Head of Corporate Development, Google EMEA) and Toivo Annus (former Head of Engineering at Skype).

“For too long web hosting companies have lived in fear of unforeseen failures, spikes in traffic or user error striking their operations, stopping their business in it tracks,” said Luke Marsden, CEO and founder at HybridCluster. “With this investment in the company we are now able to launch Hybrid Cluster 2.0 and compete effectively in the hosting market across Europe and North America.”

Liam Eagle, Analyst, Internet Infrastructure Services at the analyst firm, 451 Research, pointed out: “HybridCluster is a compelling platform in that it targets system failures and spikes in demand. Performance and availability are two on-going challenges for shared hosting providers, and two key metrics by which their customers measure their services. Hosting providers are likely to appreciate it as a means of bringing the benefits of cloud technology to their hosting environments.”

HybridCluster 2.0 provides service providers the ability to create cost effective, high availability hosting and email infrastructure. It provides:

· High-Availability: Self-healing to automatically recover when hardware, software, networks or even an entire region fails – and in less than a minute from a backup made less than a minute ago.

· Intelligent Auto-Scaling: Scaling to provide and charge for scalability in response to spikes in traffic.

· Rapid Restore Data Vault: ‘Time machine’-like capability to allow hosting company customers to roll back to last good version of files themselves in case of accidental data loss or malicious attack for websites, databases and mailboxes.

“HybridCluster is a rare combination of a disruptive and game-changing technology from a company run by an inspiring and highly motivated team in a market that has undeniable need for, and clear benefits, from the technology,” stated Jason Seats, former Rackspace Cloud VP Engineering and MD of TechStars Cloud.

BrickStreet Data Systems, a provider of high availability SaaS and website hosting to businesses in North America, has been a HybridCluster customer since February 2013. “We wanted to grow our hosting business but our old platform was vulnerable to systems failures, traffic spikes and end users deleting their own files. It was also exceedingly difficult to do even routine maintenance on each server,” explained, Andrew Skattebo, CEO of BrickStreet Data Systems.

“That’s why after months of research and testing and finding other solutions either too complex or too expensive, we chose and deployed HybridCluster.” Skattebo added: “Today we can offer a more cost-effective, high-availability hosting platform that is easier to maintain and takes away many of the risks that normally affect a business like ours.”

HybridCluster 2.0 is available immediately to cloud and web hosting service providers. The majority of HybridCluster customers across America and Europe are now live on version 2.0. Users can visit www.HybridCluster.com to sign up for a trial. Visitors to HostingCon in Austin, Texas, from June 17 to 19, can see HybridCluster in action on the exhibit floor at exhibit #723 as well as see HybridCluster’s CEO, Luke Marsden, first up on the Tech Track on the conference agenda.

About Hybrid Cluster (www.HybridCluster.com / @HybridCluster)
HybridCluster has triggered a rethink about cloud and hosting industry’s dependency on high cost, legacy virtualisation and storage stacks that fail to fully protect both businesses and end users. Computer scientists and industry experts have combined at HybridCluster to deliver breakthrough storage and hosting platform technology that automatically detects and recovers data centre outages in less than one minute, delivers 4x better density of customers per server, and offers end user to self-recover lost files and data.

Founded in 2008 and based in Bristol, UK with offices in Europe and America, HybridCluster’s backers and advisors are widely recognised and respected industry veterans, and its customers amongst the most innovative hosting providers across Europe and the Americas. HybridCluster is a SETsquared company.

The post HybridCluster Closes on $1M appeared first on peHUB.