Publicly traded digital media company IncrediMail Ltd. will pay $25 million in cash, and up to $15 million in milestone-based payments, to acquire Smilebox Inc. Redmond, Wash.-based Smilebox, an online photo album and slideshow creator, was backed by investors including Bessemer Venture Partners and Frazier Technology Ventures. The company, formed in 2005, had raised at least $14 million from investors.
3 min read · 01 August 2011
Steve Schlafman joined Lerer Ventures earlier this summer as a principal. Schlafman worked recently as vice president of business development for New York-based start-up Stickybits. He’s also worked previously with The Kraft Group/The New England Patriots. Lerer Ventures, started by Huffington Post co-founder Kenneth Lerer and his son, Ben, is based in New York. The firm also added Eric Hippeau to the team this year. Hippeau served as HuffPo chief executive after joining the company in 2009.
5 min read · 01 August 2011
Deluxe Corp. has acquired the assets of PsPrint, an online supplier of custom printed promotional products and a portfolio company of private equity investor Sverica International. MHT Partners acted as exclusive advisor to PsPrint. Terms of the deal were not released.
3 min read · 01 August 2011
Conversus Capital has named Roger Brookes head of investor relations. Brookes has worked previously with companies including Bear Stearns, LCF Edmond de Rothschild Securities and Barclays. Most recently, he was in specialist sales at CF Partners, concentrating on sourcing and placing asset backed products. Brookes will be based in London.
2 min read · 01 August 2011
SeraCare Life Sciences Inc., which is traded on the Nasdaq, is potentially looking for a buyer, Reuters reported. The company recently received a proposal from MSMB Capital and is reportedly reviewing the possible deal, as well as other options. Lazard is advising SeraCare.
1 min read · 01 August 2011
Archer Limited has paid $742 million to buy Great White Energy Services, a company formed by Wexford Capital. The deal is expected to close in the third quarter. Archer is backed by Seadrill Limited and Lime Rock Partners. Great White provides a range of energy-focused services including coil tubing and snubbing services, directional drilling, and pressure pumping.
5 min read · 01 August 2011
Investors including First Reserve Corp., WL Ross & Co., China Investment Corporation, Fairfax Financial Holdings, Morgan Creek Capital Management and PPM America Capital Partners are putting more than $600 million in equity into Diamond S Shipping, the company announced Monday. Additional debt funding will come from Nordea Bank Finland and DnB Nor Bank ASA. The money is being used to fund the acquisition of 30 medium-range refined product carriers to add to the company’s fleet of ten tankers under construction in Korean shipyards.
4 min read · 01 August 2011
Apax Partners and Altamir Amboise are exiting their investments in satellite communications service provider Vizada, selling the company to European aerospace group EADS for $960 million. Vizada was formed in 2007 through various carve-outs and build-ups led by Apax. The company provides mobile satellite communications technology aimed at sectors including maritime, aero, media and government.
4 min read · 01 August 2011
Private equity firm GMT Communications Partners has paid 38.5 million pounds ($55.5 million) to buy conferencing and collaboration service provider MeetingZone. The firm bought MeetingZone from the company’s founders, and from investor Nova Capital Management. MeetingZone was formed in 2002.
4 min read · 01 August 2011
Private equity firm Warburg Pincus has put an undisclosed amount of money into investment advisor The Mutual Fund Store. The companies said the investment would help with expansion efforts. Specific terms of the transactions were not disclosed. Kansas City-based The Mutual Fund Store was formed in 1996.
3 min read · 01 August 2011
