UK-based PolyTherics Limited has merged with Antitope Limited, a provider of antibody engineering and immunogenicity screening services. PolyTherics is issuing new shares up to an aggregate value of 13.5 million pounds ($20.8 million) to fund the merger with Antitope and to provide working capital for the enlarged group. Imperial Innovations led the investment and brought in new investor Invesco Perpetual with further funds provided by Mercia Fund Management and Advantage Enterprise & Innovation Fund.
4 min read · 29 July 2013
Rockwood Holdings is to sell its clay-based additives business to ALTANA Group, a German based global specialty chemical company for a purchase price of $635 million. Lazard acted as Rockwood’s financial advisor and Hughes Hubbard & Reed LLP and Willkie Farr & Gallagher LLP as legal advisors.
4 min read · 29 July 2013
Joshua Partners' portfolio company Precision Engineered Technologies has acquired Imperial Machine and Tool Company, a precision boring & machining company based in Wadsworth, Ohio near Akron. Joshua Partners is an investment firm focused on lower middle market companies.
2 min read · 29 July 2013
Catch up on the latest after the weekend with this morning's First Read including the importance of Chinese connections; VC powering up the angels and Publicis and Omnicom forming an advertising giant.
1 min read · 29 July 2013
Siluria Technologies has appointed Karl Kurz to the company's board of directors. Siluria is a company that converts natural gas into chemicals and fuels. It is backed by ARCH Venture Partners, The Wellcome Trust, Alloy Ventures, Kleiner Perkins Caufield & Byers, Bright Capital, Altitude Life Science Ventures, Lux Capital and Vulcan Capital.
3 min read · 25 July 2013
WPCS International Incorporated chairman and CEO, Andrew Hidalgo will be stepping down from his position, effective July 30, 2013, to pursue private equity investments. Hidalgo will be replaced by Sebastian Giordano, a current director, who will assume an interim CEO role, while the WPCS Board of Directors undertakes a search for a permanent chairman and CEO. WPCS is a design-build engineering company that focuses on the implementation requirements of communications infrastructure.
3 min read · 25 July 2013
IFC, a member of the World Bank Group, has invested $50 million in the Credit Suisse Mexico Credit Opportunities Trust, a fund that helps boost financing for local companies and deepen capital markets in Mexico. Credit Suisse, through its asset management business, several Mexican pension funds, and other investors, have collectively invested almost $500 million in the trust, bringing the total capital committed to approximately $550 million.
3 min read · 25 July 2013
Healthcare-focused private equity firm BelHealth Investment Partners has formed General Genetics Corporation and acquired Genetics Testing Laboratories, Forensic Testing Laboratory and Clinical Testing Laboratories. Based in New Mexico, the labs offer a wide variety of genetic testing services. The labs were established in 2001 at the Arrowhead Research Center on the campus of New Mexico State University.
4 min read · 25 July 2013
Crossroads Systems, a provider of data archive solutions, has secured a $10 million credit facility from an affiliate of Fortress Investment Group. As a condition of the credit agreement, Crossroads will issue to Fortress 1,454,545 warrants to purchase common stock.
4 min read · 25 July 2013
Clinical Research Advantage, a portfolio company of Kinderhook Industries, has acquired the late phase division of Comprehensive Clinical Development. The deal represents the tenth healthcare services transaction completed by Kinderhook. Financial terms of the transaction were not disclosed.
3 min read · 25 July 2013
