New Enterprise Associates has promoted Mohamad Makhzoumi to partner. Makhzoumi joined the firm in 2005, and focuses on investments in the healthcare services and healthcare information technology sectors. He currently sits on the boards for American Pathology Partners, Elements Behavioral Health and Nova Medical Centers, among other companies. Prior to joining the NEA, Makhzoumi was an associate with Summit Partners, and worked with UBS Investment Bank.
2 min read · 27 June 2011
Blue Point Capital Partners has recapitalized Elyria, Ohio-based Alco Manufacturing, a provider of close tolerance precision-machined steel components. Blue Point Capital Partners is a lower middle market private equity firm. KeyBank and Prudential Capital provided debt financing for the deal. Terms of the deal were not released.
3 min read · 27 June 2011
GSV Capital Corp. has acquired a small stake in Facebook at a valuation of about $70 billion, Reuters reported. The firm bought up 225,000 shares at an average price of $29.28 per share. Facebook has roughly 2.4 billion outstanding shares, Reuters reported. Woodside, California-based GSV Capital invests in high growth, venture capital backed companies.
1 min read · 27 June 2011
Global Franchise Group, a portfolio company of Los Angeles-based private equity firm Levine Leichtman Capital Partners, has closed on $50 million senior credit facility. The money will be used to refinance existing debt, pay a shareholder dividend and provide for on-going working capital needs of Global Franchise Group, the company said. The debt financing was provided by Bank of Montreal and NXT Capital.
2 min read · 27 June 2011
Frazier Healthcare has named Tadataka Yamada as a senior executive-in-residence with the firm. Yamada will work with the firm’s growth equity and venture capital teams to pursue investments in healthcare companies in the U.S. and in emerging markets. Yamada was most recently the president of the Global Health Program for the Bill & Melinda Gates Foundation. Frazier Healthcare has $1.8 billion under management.
3 min read · 27 June 2011
Chicago-based Water Street Healthcare Partners has acquired MarketLab Inc., a distributor products to the clinical laboratory, hospital nursing and magnetic resonance imaging markets. The company is headquartered in Caledonia, Mich. Water Street said that it is committing up to $70 million of equity financing to both acquire, and grow, MarketLab.
3 min read · 27 June 2011
MBF Healthcare Partners has acquired a minority stake in Vero Beach, Fla.-based eMindful Inc., a provider of technology-enabled health and wellness solutions. Financial terms of the deal were not released. MBF Healthcare Partners is based in Coral Gables, Fla.
3 min read · 27 June 2011
Private equity firm Bridgepoint is backing a management buyout of SPP Process Technology Systems from its parent company Sumitomo Precision Products, the firm announced. SPP Process Technology Systems designs, develops and manufactures equipment used in the production of devices on semiconductor substrates. Financial terms of the deal were not released. SPP Process has operations in Newport, Wales, and in San Jose, Calif.
4 min read · 27 June 2011
Korean private equity investors Vogo Fund and MBK Partners are considering a bid in the government's continuing $6 billion auction of a stake in Woori Finance Holdings, Reuters reported Monday, citing a report in the Maeil Business Newspaper. The Woori sale is the country's biggest-ever privatization project. The government is planning to accept letters of intent to buy at least 30 percent of Woori by June 29, Reuters wrote.
1 min read · 27 June 2011
Kohlberg Kravis Roberts & Co. has received a license to conduct business in Saudi Arabia, Reuters reported. The license came from Saudi market regulator Capital Markets Authority. KKR began operating in the region in 2009, when it opened an office in Dubai.
1 min read · 27 June 2011
