Private equity firm Clayton, Dubilier & Rice will pay $64 per share for healthcare and physician services company Emergency Medical Services Corp. The companies valued the deal at $3.2 billion. The $64-a-share price is 9% below EMS' closing price of $70.66 on Friday.
2 min read · 14 February 2011
Investor network Tech Coast Angels has held a first close of its Angel Capital Entrepreneurial Fund I. The amount of the close was not released. Tech Coast Angels focus on early-stage, high-growth companies in Southern California, and invests across a range of sectors including life sciences, retail, Internet, media and consumer products.
3 min read · 14 February 2011
H.I.G. Europe, an arm of buyout shop H.I.G. Capital, will buy Aircom International Group from Advent International, the firm said in a release. UK-based Aircom provides network planning and optimization services for the mobile telecoms industry. Financial terms of the deal were not released.
4 min read · 14 February 2011
HP will acquire venture-backed data management company Vertica for an undisclosed amount. Billerica, Mass.-based Vertica has raised more than $30 million since it was formed in 2005, and is backed by investors including Kleiner Perkins Caufield & Byers, Bessemer Venture Partners, Highland Capital Partners and New Enterprise Associates. Terms of the acquisition were not released.
3 min read · 14 February 2011
Research in Motion Ltd. is making a lead investment in BlackBerry Partners Fund II, the company said in a release. The new $150 million fund is expected to launch in June. The first BlackBerry Partners Fund was formed in 2008 with backing from Research In Motion, Thomson Reuters and the Royal Bank of Canada.
2 min read · 14 February 2011
L Capital, the investment firm co-funded by luxury group LVMH, is in talks to buy a stake in Indian jewellery retailer Gitanjali, Reuters reported. The deal is estimated between $100 million and $125 million, Reuters said.
2 min read · 14 February 2011
Communication equipment provider EchoStar Corp. will buy Hughes Communications Inc., which is majority-owned by private equity firm Apollo, Reuters reported. EchoStar will pay roughly $2 billion, including debt. Hughes' shareholders will get $60.70 per share, a 2 percent premium over Hughes Friday closing price of $61.78, Reuters said.
1 min read · 14 February 2011
Swedish private equity group EQT has acquired Taiwanese TV channel operator Gala TV, Reuters reported. EQT’s Greater China II fund bought the company with its chief executive, Lin Poa-Chuan, as co-investor, Reuters said. Financial terms of the deal were not disclosed.
1 min read · 14 February 2011
Dutch buyout firm Taros Capital and private equity firm Advent International are planning to exit their investments in Raet, a Dutch provider of payroll and human resources software, Reuters reported. An auction could begin as soon as April, and the price is expected to reach 400 million euro ($542 million) or higher, Reuters said.
1 min read · 14 February 2011
Cleveland-based private equity firm Evolution Capital Partners has added Gene Marino as partner. Marino will open Evolution's Chicago office, where he will focus on sourcing new investment opportunities, as well as work with existing portfolio companies. Marino was previously the president and chief executive of Innerpac Inc., a manufacturer of specialty packaging products and a portfolio company of Evolution. Innerpac was bought by Rock-Tenn in August of 2010.
3 min read · 14 February 2011
