03/01/02 Deal Round-up

NBGI Private Equity pays £11.2m for engineering firm; 2PM Technologies takes E3.3m first round funding.

NBGI Private Equity pays £11.2m for engineering firm

Powell Duffryn, the engineering group has sold Hamworthy Heating to NBGI Private Equity for £11.2m. Hamworthy, based in Poole, is a specialist provider of commercial heating and hot water systems.

NBGI is the private equity arm of National Bank of Greece. Launched in June 2000, it has a €100m fund for investment in small and medium sized traditional UK companies.



2PM Technologies takes E3.3m first round funding

2PM Technologies, a UK company developing an email system for mobile phones, has secured E3.3m first round funding from a consortium of investors led by Irish VC ICC Venture Capital. The money raised will be used to expand the company’s sales and marketing efforts.

ICC Venture Capital is one of Ireland's largest venture capital and private equity companies. The firm has more than 80 shareholdings and manages funds totalling more than IR£100m.