Publicly traded Haemonetics Corp. has added Paul Black to its board of directors. Black is an operating executive for Genstar Capital LLC, a San Francisco-based private equity firm. He previously served as chief operating officer for Cerner Corp., a provider of healthcare IT products. He retired from Cerner in 2007. Haemonetics develops blood management solutions for the healthcare industry.
2 min read · 27 January 2011
Vesdia Corp., which is backed by the Comvest Group, has merged with Cartera Commerce, a provider of marketing and merchant-funded rewards programs. Financial terms of the deal were not disclosed. Comvest acquired a majority interest in Vesdia in December 2009. The combined company will retain the Cartera Commerce brand and will be headquartered in Lexington, Mass.
4 min read · 27 January 2011
Buyout shop Providence Equity Partners has added Steven Alesio as a senior advisor. Alesio was most recently chairman and chief executive of Dun & Bradstreet. At Providence Equity Partners, he will focus on new investment opportunities and on portfolio companies including CDW, Study Group and Ascend Learning, where he currently serves on the board.
3 min read · 27 January 2011
Private equity shop Kohlberg Kravis Roberts & Co. is targeting between $8 billion and $10 billion for its new fund, and has already sealed a $525 million commitment from the Oregon Investment Council, Reuters reported. The new fund is expected to focus on North America.
2 min read · 27 January 2011
Freescale Semiconductor, which is owned by a consortium of buyout shops including Blackstone Group, Carlyle Group and TPG Capital, is gearing up for an initial public offering, Reuters said. The company is close to hiring bankers to underwrite the IPO, Reuters reported.
2 min read · 27 January 2011
New York-based middle-market investment firm ICV Partners has acquired Stauber Performance Ingredients, a distributor of ingredients to the dietary supplement industry. The firm bought Stauber from J. H. Whitney & Co. Financial terms were not disclosed. Founded in 1998, ICV Partners has more than $440 million under management.
2 min read · 27 January 2011
Irish private equity firm Kerten has acquired roughly a third of Turkish chocolate company Elit, Reuters reported, citing a story in Hurriyet newspaper. Financial terms of the deal were not released.
1 min read · 27 January 2011
Ark Holdings Inc., which is backed by New York and San Francisco-based buyout firm Behrman Capital, has acquired HMR Advantage Health Systems for $143.8 million. Easley, South Carolina-based HMR is an owner and operator of long-term care centers. Ark Holdings owns skilled nursing homes, and is based in Memphis, Tenn.
3 min read · 26 January 2011
New York-based Summit Business Media Holding, which is controlled by Chicago-based private equity firm Wind Point Partners, has filed for Chapter 11 bankruptcy protection after agreeing with creditors on a plan to eliminate $140 million of debt from its balance sheet, Reuters reported. The company publishes 16 magazines, 20 websites and 150 reference titles, Reuters said. Wind Point Partners controls 85% of the company’s equity.
2 min read · 26 January 2011
New York-based buyout shop Pine Brook Road Partners has promoted Gary Levin to the post of vice president. Levin joined the firm in 2006 as an associate, and has worked with portfolio companies including Asia Pacific Exploration Consolidated, Comet Ridge Resources and Stonegate Production Company. Levin previously worked at Warburg Pincus as a member of its energy group.
2 min read · 26 January 2011
