Ares Capital Corp. and Veronis Suhler Stevenson have closed on a deal providing $86.5 million in debt financing to an undisclosed provider of educational resources and services in the medical space. Ares Capital and VSS have a collaboration agreement focused on bringing flexible senior debt financing to middle market companies in the information, education, media and marketing services industries.
3 min read · 12 April 2011
Green EnviroTech Holdings Corp. – a plastics recovery, separation, cleaning and recycling company – has closed on a $5 million equity investment from Centurion Private Equity. Green EnviroTech intends to use the proceeds to fund acquisitions, and for working capital. Centurion Private Equity is managed by Roswell Capital Partners.
2 min read · 12 April 2011
Private equity attorney Marcia Ellis has joined Ropes & Gray as a partner based in Hong Kong. Ellis joins from D. E. Shaw & Co., where she was its Hong Kong-based chief legal officer for all of Asia. In her former role, Ellis assisted the firm with making, restructuring and exiting investments throughout Asia, including a number of investments in China and India.
3 min read · 12 April 2011
Los Angeles-based private equity firm Levine Leichtman Capital Partners has opened offices in London. Managing director John Romney will manage the firm’s efforts in London. With the expansion, the firm plans to focus structured equity investments in European middle-market companies. The firm manages approximately $5.0 billion of institutional investment capital through private equity partnerships, distressed debt and leveraged loan funds.
2 min read · 12 April 2011
Planning to invest up to $1 billion in oil and gas assets across North America, Alta Resources and Blackstone Capital Partners have teamed up to form Alta Energy Partners. Formed in 1999, Alta Resources develops shale gas assets in Arkansas and Pennsylvania. The company has recently worked with Blackstone Capital, an affiliate of The Blackstone Group, to evaluate joint investments in unconventional oil & gas assets.
3 min read · 12 April 2011
Buyout shop Advent International said that Chip Hornsby has joined its operating partner program. Hornsby will advise on opportunities in the industrial sector, with a focus on distribution and building products investments. He is the former president and chief executive of industrial distribution company Wolseley plc. Hornsby worked previously as president and CEO of plumbing supply distributor Ferguson Enterprises.
3 min read · 12 April 2011
Torrance, Calif.-based LiveOffice, a provider of cloud-based email archiving and other email services, has named Matt Hardy chief financial officer. Hardy worked previously for Digital Insight, a developer of financial software for small- and medium-sized banks and credit unions. Digital Insight was acquired by Intuit in 2007. Earlier in his career, Hardy worked in investment banking for Credit Suisse and served as controller in the printing industry. LiveOffice is backed by Summit Partners.
3 min read · 12 April 2011
Waltham, Mass.-based Verdasys, a company focused on enterprise information protection technology, has raised $15 million from GE Pension Trust. The money will help Verdasys to expand its “Digital Guardian” platform into mobile devices and cloud security, as well as add to its team and expand distribution channels.
3 min read · 12 April 2011
Clearlake Capital Group said that it has recapitalized and provided a “significant capital infusion” to 3ality Digital, a provider of digital stereoscopic 3D production hardware and software technology used in film production. As a result of the financing, Clearlake Capital, the Modell Family and the company’s management will now control 3ality Digital. Terms of the deal were not released.
3 min read · 12 April 2011
Private equity-owned building company Ausco Ltd. is planning a $524 million initial public offering, Reuters reported. The Australian company would be the float by a private equity firm in the Australian markets in the past 18 months. Ausco produces and hires out modular buildings for the mining and construction industries, and for governments and schools, Reuters said.
1 min read · 12 April 2011
