Longwood Founders Management has closed its first fund, Longwood Founders Fund, L.P., with $85 million. The Boston-based firm will focus on creating and funding biotechnology start-ups. In February 2010, the firm created and seeded its first investment, Alnara Pharmaceuticals, which was acquired by Eli Lilly in July 2010.
2 min read · 27 December 2010
Private equity firm Palladium Equity Partners has acquired Jordan Healthcare Holdings, a provider of home healthcare services in Texas. Financial terms of the deal were not released. Formed in 1975, Jordan Healthcare provides personal care, home management and skilled nursing services across Texas. Palladium, based in New York, focuses on investments in the U.S. Hispanic marketplace.
2 min read · 27 December 2010
German private equity firm Quadriga Capital has divested its stake in Francotyp-Postalia Holding AG. The private equity firm held at 26.3% stake in the professional mail management services company. The shares in Francotyp-Postalia were sold to unnamed institutional investors in Germany, France, Great Britain and Switzerland, the firm said.
2 min read · 27 December 2010
O2 Investment Partners has acquired Silbond Corp., a specialty chemical manufacturing company based in Weston, Mich. Terms of the acquisition were not released. Founded in 1994, Silbond makes "tetra ethyl ortho silicate,” a chemical used in manufacturing semiconductors and other electronics. O2 Investment Partners is based in Bloomfield Hills, Mich.
2 min read · 27 December 2010
Irvine Sensors, which is traded on the over-the-counter Bulletin Board, has raised $11.4 million from Costa Brava Partnership III LP and The Griffin Fund. As a result of the financing, Seth Hamot, general partner of Costa Brava, has become chairman of the company’s board. Chet White, managing partner of The Griffin Fund, also joined the board. Costa Mesa, Calif.-based Irvine Sensors develops miniaturized infrared and electro-optical cameras and image processors.
3 min read · 27 December 2010
Despite unsolicited bids from buyout shops CVC and the Carlyle Group, Malaysia's Johor Corp. will not sell its indirect subsidiaries QSR Brands and KFC Holdings, Reuters reported. Malaysian businessman Halim Saad had joined CVC Group in a bid, which was later topped by a $618.8 million offer from the Carlyle Group.
3 min read · 27 December 2010
Private equity firms Apax Partners and iGate will pay $915 million for a 63% stake in Patni Computer, Reuters reported. The consortium offered about 500 rupees ($11.05) per share for the company, which was trading at 488.50 rupees ($10.79) on the Bombay Stock Exchange Monday. The firms beat out a rival consortium comprised of the Carlyle Group, Advent International and Akansa Capital. The iGate-Apax consortium will take $500 million in debt to fund the deal, Reuters said.
2 min read · 27 December 2010
Buyout shop Apollo Management plans to buy a portfolio of commercial real estate loans from Credit Suisse, Reuters reported. Apollo will pay $1.2 billion for the soured real estate loans, which have a face value of $2.8 billion. Credit Suisse is providing Apollo with debt financing for the deal, Reuters said.
2 min read · 27 December 2010
U.S.-based Colony Capital is in talks to sell a minority stake in the French soccer club Paris Saint Germain, Reuters reported. The firm declined to release the name of potential investors, Reuters said.
2 min read · 27 December 2010
Canadian private equity firm VenGrowth Asset Management has appointed Michael Cohen and Cynthia Lavoie to head up the investment team for the VenGrowth Advanced Life Sciences Fund. Cohen has been a managing general partner at the firm since 1994. Lavoie, a partner at VenGrowth, joined in 2003. The firm also announced the promotion of Andrew Vignuzzi to Partner. Vignuzzi joined VenGrowth in 2006.
3 min read · 27 December 2010
