Mark Goines has joined Morgenthaler Ventures as a partner in Menlo Park, Calif., focusing on investments in financial technology, mobile, consumer and small business Internet services. Goines is a successful angel investor, with personal exits from companies including Mint, Baby Center, PayCycle and Nolo.com. He was also an angel investor in Morgenthaler investments Pageonce and Practice fusion.
3 min read · 18 May 2011
Apax Partners has acquired a 65% stake in Vocalcom, a provider of software for customer contact and call centers. The deal included share purchases and a capital increase, the firm said in a written statement. Specific terms of the deal were not released.
3 min read · 18 May 2011
Terry Leahy, the former chief executive of food retailer Tesco PLC, is joining buyout shop Clayton, Dubilier & Rice, Reuters reported. He will become a senior advisor to the firm and will be based in London.
1 min read · 18 May 2011
Silicon Valley Bank has appointed technology and life science banker Mercy Forde, and hired venture fund CFO Nina Labatt, to its Venture Capital and Private Equity Services team. Forde has spent the past 17 years at Silicon Valley Bank, specializing in life science and technology companies. Labatt worked previously at Health Evolution Partners and Labrador Ventures.
3 min read · 17 May 2011
Buyout firm Friedman Fleischer & Lowe has added Richard Lenny, former chairman and chief executive of The Hershey Company, as an operating partner. Before Hershey, Lenny held high-profile roles including president of Nabisco Biscuit Co., president of Pillsbury North America, and various roles at Kraft Foods. San Francisco-based Friedman Fleischer & Lowe hase approximately $2.5 billion under management, and focuses on middle-market deals. In his new role at the firm, Lenny will help identify and evaluate new investment opportunities in the consumer products sector, as well as provide guidance to portfolio companies.
3 min read · 17 May 2011
Australian private equity firm Archer Capital will acquire a majority stake in V8 Supercars Australia in a deal valued at more than $317 million, Reuters reported. Archer will back Australian Motor Racing Partners to take a 60% stake in V8 Supercars. Racing teams and management will hold the remaining 40% equity interest, Reuters wrote. Archer Capital has more than $2 billion under management.
2 min read · 17 May 2011
Bahrain-based Arcapital Bank acquired a majority interest in women’s clothing retailer J. Jill, buying the stake from private equity firm Golden Gate Capital. Financial terms of the deal were not released. Golden Gate acquired J. Jill in 2009 for roughly $75 million. San Francisco-based Golden Gate will retain a minority stake in the company.
3 min read · 17 May 2011
Copenhagen-based Orphazyme ApS, which is backed by Novo A/S and Sunstone Capital, has acquired the molecular chaperone assets of publicly traded biopharmaceutical company CytRx Corporation. Formed in 2009, Orphazyme develops molecular chaperone therapies to treat rare genetic lysosomal diseases. The company could pay up to $120 million for the CytRx assets, in addition to certain royalty payments.
4 min read · 17 May 2011
Nokia and Siemens are allowing two private equity consortia to look at the books of join venture Nokia Siemens Networks, in attempts to sell the company, Reuters reported. The consortia are The Gores Group with Platinum Equity, and TPG Capital with Kohlberg Kravis Roberts & Co. Nokia Siemens Networks has struggled to make a profit since its 2007 start, Reuters wrote.
2 min read · 17 May 2011
Toshiba plans to pay roughly 200 billion yen ($2.5 billion) for Swiss-based smart metering company Landis+Gyr, Reuters reported. Landis+Gyr is owned by several investors including Bayard Capital of Australia. Toshiba beat out buyout shops TPG Capital and EQT Partners in the auction for Landis+Gyr.
2 min read · 17 May 2011
