(Recent funding news based on Form D filings with the S.E.C.) Narrative Science Inc., whose software is designed to automatically generate news stories, industry reports, headlines and other editorial content, has raised $5.65 million in new financing, according to a regulatory filing. Roger Lee, a general partner with Battery Ventures is listed among the company’s directors. Narratives Sciences is based in Evanston, Illinois. San Francisco-based Ensenda raised $4.2 million in new financing, according to a filing with
1 min read · 31 January 2011
Buyout shop HIG Capital is buying the building block chemicals business of Cytec Industries for $180 million in cash and notes, Reuters reported. The business makes raw materials used in automobiles, CD players and other home appliances, Reuters wrote. Cytec is based in Woodland Park, New Jersey. HIG Capital has $8.5 billion under management.
2 min read · 31 January 2011
M/C Venture Partners has promoted Lydia Jett to vice president. She joined in 2009 and was previously a senior associate at the firm. In her new role, Jett will focus on sourcing and managing investments in the media and communications industries. M/C Venture Partners has offices in Boston, San Francisco and London, and focuses on the communications, media, and information technology services sectors.
2 min read · 31 January 2011
Sequella Inc., a clinical-stage company focused drugs to treat infectious diseases, has added John Friedman as an independent director. Friedman is the founding and managing partner of Easton Capital Investment Group. He was previously a founder and managing general partner of Security Pacific Capital Investors, a $200-million private equity fund. Sequella is based in Rockville, Maryland.
2 min read · 31 January 2011
Private equity shop Bain Capital and the Government of Singapore Investment Corp. are close to buying a minority stake in Mumbai-based motorcycle maker Hero Honda, Reuters reported, citing an article in the Financial Times. The deal could be valued as high as $1.75 billion, Reuters said.
1 min read · 31 January 2011
New York-based buyout shop MidOcean Partners will pay $650 million for publicly traded Pre-Paid Legal Services Inc., taking the company private. The cash deal, at $66.50 per share, is expected to close by the end of July. Macquarie Capital will provide debt financing for the deal.
3 min read · 31 January 2011
Online payment company Skrill Holdings, which is owned by Investcorp Technology Partners, has added Bob Wigley as non-executive chairman. Wigley is chairman of Yell Group, eXpansys , and Stonehaven Associates . He served previously as chairman of Merrill Lynch Europe.
3 min read · 31 January 2011
Publicly traded Kensey Nash Corp. has acquired the assets of medical adhesives maker Nerites Corp. for $20 million in cash. Madison, Wis.-based Nerites is developing technology that would help Kensey Nash further its reach into markets including soft tissue surgical repair, orthopaedics, sports medicine, spine and neurosurgery. Nerites was previously funded by $11 million from venture capital firms including Madison-based Venture Investors LLC and Foster City, Calif.-based Black Mountain Ventures.
4 min read · 31 January 2011
China Development Bank, and buyout firms Blackstone, Apollo and J.C. Flowers have all made preliminary bids for failing German lender WestLB, Reuters reported. The bank is probably heading for a breakup, Reuters wrote, as the bidders would likely spin off the firm’s risky assets, as well as wind down investment banking and international banking operations. The deadline for offers in the auction is February 11, Reuters said.
2 min read · 31 January 2011
Chicago-based supply chain management company TradingPartners, which is backed by private equity investors Kennet Partners, has named Mark Barnekow chief executive. Barnekow worked previously as president and CEO of foodservice industry technology company Amphire Solutions. Amphire was later sold to private equity investors Accel and Kohlberg Kravis Roberts & Co.
3 min read · 31 January 2011
