Venture firm Accel Partners has named ex-SAP and Siebel executive Paul Wahl CEO-in-residence, Reuters reported. Wahl will identify, invest in and mentor start-ups working on ways to reduce the complexity of enterprise IT infrastructure, Reuters said. Previously, Wahl was chief operating officer of Siebel, which was later bought by Oracle. Wahl ran the American business of German software company SAP in the 1990s.
1 min read · 11 April 2011
Bahrain-based Arcapita has exited its investment in MedPlus Health Services, selling the company to private equity firms, Reuters reported. Terms of the deal were not released. Arcapital became the largest shareholder in MedPlus in 2007 in a transaction valuing the company at $72 million. MedPlus said in March that private equity firm Mount Kellett Capital Management, along with TVS Capital and Ajay Piramal group’s healthcare fund, would buy a 35% stake in MedPlus.
2 min read · 11 April 2011
European buyout shop AnaCap Financial Partners has agreed to buy consumer debt financing group Cabot Financial from the American bank Citi, Reuters reported. The size and terms of the deal was not released.
1 min read · 11 April 2011
Toronto-based Pinetree Capital Ltd. has acquired stakes in Virginia Energy Resources Corp. and ICN Resources Ltd. Virginia Energy Resources is focused on the exploration and development of uranium projects in North America. ICN Resources acquires and develops mineral properties, specifically gold properties in Nevada. Pinetree Capital is publicly-traded on the Toronto Stock Exchange, and focuses on small-cap investments in natural resources.
3 min read · 08 April 2011
Dutch cable operator Ziggo is refinancing its existing debt as it makes its way toward and initial public offering, Reuters reported. The company plans to extend the maturity of its 250 million euro ($360 million) debt by two-and-a-half years. Private equity owners Cinven and Warburg Pincus have hired STJ Advisors to prepare for an IPO that could value Ziggo at around 7 billion euros, Reuters reported previously.
2 min read · 08 April 2011
Irvine, Calif.-based SAIL Capital Partners and SAIL Sustainable Partners of Louisiana have formed The Louisiana Sustainability Fund, a private capital fund focused on investing in clean technology and sustainable industries in Louisiana. The size of the fund, or potential size of the fund, was not released. The fund will make in investments in later stage growth companies with proven technologies, either currently in Louisiana or positioned to locate in Louisiana, according to a written statement.
5 min read · 08 April 2011
New York-based Spring Mountain Capital has become the lead investor in Culver City, Calif.-based digital media company NXTM LLC. No terms of the investment were disclosed. NXTM provides musicians tools to build, manage and monetize their online digital presence, and has worked with musicians including Taylor Swift, Justin Timberlake, the company said in a statement.
3 min read · 08 April 2011
Goldman Sachs has acquired a 12% stake in China’s Taikang Life Insurance Co Ltd. – a stake valued at more than $900 million, Reuters reported. The acquisition could pave the way for Wall Street’s entrance into the world’s biggest insurance market, Reuters wrote.
3 min read · 08 April 2011
Private equity group 3i's portfolio company NORMA Group AG has held an initial public offering on the Frankfurt Stock Exchange. NORMA offered 18.4 million shares under the Global Offering, raising 386.4 million euro ($557.5 million), including full overallotments. The company’s market capitalization 669 million euro ($1 billion), the firm said in a written statement. 3i formed NORMA Group by investing in Rasmussen Group in 2006.
1 min read · 08 April 2011
First Reserve Corp., a private equity investor in energy and natural resources industries, has acquired Belgium-based metal refining and recycling company Metallum Holdings S.A. The deal is valued at 670 million euro ($964 million).
3 min read · 08 April 2011
