Publicly traded communications company Polycom Inc. has acquired Accordent Technologies Inc. for $50 million in cash. Accordent was backed by investment firm TVC Capital, the company’s sole institutional investor. Accordent is a maker of video content management and delivery technology.
3 min read · 24 March 2011
Institutional Venture Partners has added Eric Liaw as a vice president focusing on later-stage private and public market investments. He will focus on a variety of sectors, including enterprise software and Internet companies, the firm said in a statement. Liaw worked previously at Technology Crossover Ventures, where he evaluated and completed minority and control investments in the Internet and software sectors. Institutional Venture Partners has more than $3 billion under management.
2 min read · 23 March 2011
Private equity firm Cartesian Capital Group has acquired a minority stake in Turkish food service company TAB G1da. Terms of the deal were not disclosed. TAB is the largest franchisee for Burger King, Popeyes, Sbarro and Arby's in the country, operating more than 500 restaurants in Turkey. Cartesian Capital Group manages $1.1 billion in private equity investments.
2 min read · 23 March 2011
Summer Street Capital Partners has acquired Apple Valley Waste, a provider of solid waste collection, recycling and disposal services across three counties in West Virginia and Maryland. Financial terms of the deal were not released. Buffalo, NY-based Summer Street Capital Partners was formed in 1999 and has roughly $300 million under management. The firm is focused on small-market companies.
3 min read · 23 March 2011
Private equity investor Partners Group has closed Partners Group Global Infrastructure 2009 with 500 million euro ($705 million), the firm said in a statement. Investors include public and corporate pension plans, financial institutions and other unnamed limited partners.
2 min read · 23 March 2011
Private equity firm H.I.G. Capital has acquired the marine business of Litchfield, Illinois-based Teleflex Inc. Teleflex Marine is a provider of steering and control products and accessories. Terms of the deal were not released.
2 min read · 23 March 2011
Budget eyewear maker i-deal Optics, which is backed by private equity firm Hadley Capital, will acquire Missouri-based regional eyewear distributor A&E Inc. Financial terms of the deal were not disclosed. I-deal Optics is based in Michigan.
2 min read · 23 March 2011
Buyout shop H.I.G. Capital has recapitalized Advanced Environmental Recycling Technologies Inc., providing debt and equity financing to the company. Based in Springdale, Arkansas, Advanced Environmental Recycling is a manufacturer of wood composite decking products and a developer of polyethylene recycling technology. It is traded on the over-the-counter Bulletin Board. Terms of the deal were not released. Miami-based H.I.G. Capital has more than $8.5 billion under management.
3 min read · 23 March 2011
Providence Equity Partners managing director Sean Tong is leaving the firm this month to join Mary Ma's $1 billion China-focused fund, Boyu Capital, Reuters reported. Tong is the co-head of Providence’s Hong Kong office. He is the latest in a slew of Chinese private equity executives to leave global firms in favor of start-up China-focused funds. The news of Tong’s departure was first reported by Fortune.
2 min read · 23 March 2011
European private equity firm Cinven has kicked off fund-raising for its fifth buyout fund, planning to raise 5 billion euro ($7.1 billion) for new deals, Reuters reported. Despite a tough fund-raising market, Cinven is aiming for a first close in autumn, Reuters said. It has deployed 70% of its fourth fund and will continue investing that fund until mid-2012.
2 min read · 23 March 2011
