French buyout shop Astorg Partners is in exclusive talks to buy the microconnections division of French electrical connectors maker FCI from Bain Capital. The $1 billion deal is backed by 355 million euros ($498.3 million) of debt, Reuters reported Thursday. Goldman Sachs, Nomura and Royal Bank of Canada have been instructed as bookrunners and mandated lead arrangers, Reuters wrote.
2 min read · 08 September 2011
HookLogic has raised $9.5 million in its first institutional financing from Bain Capital Ventures. The company, which says it has been profitable for the past six years, sells software designed to help e-commerce retailers to incorporate relevant and profitable paid media programs within their online, mobile and social stores. The financing will be used to expand its business across the retail, travel and automotive sectors, the company said.
3 min read · 08 September 2011
Atlanta-based Cardlytics has raised $33 million from Groupe Aeroplan and existing investors to expand its transaction-driven marketing technology and banking rewards business in the U.S. and abroad. The company has raised financing previously from investors Kinetic Ventures, ITC Holding Company, Canaan Partners, Polaris Venture Partners and Total Technology Ventures.
4 min read · 08 September 2011
Leo de Luna has joined Split Rock Partners as a principal in its Menlo Park, Calif., offices. He will focus on identifying, evaluating and managing new later stage and secondary opportunities. He served most recently as a vice president at Saints Capital, a firm specializing in secondary direct investments. Earlier in his career, de Luna worked for St. Paul Venture Capital, and in technology investment banking at Lehman Brothers, and corporate development at Advanced Micro Devices.
2 min read · 08 September 2011
Hancock Park Associates has exited its investment in Resco Products Inc., selling the company to Wellspring Capital Management. Terms of the deal were not released. Resco makes custom-designed shaped and unshaped refractory products for a broad range of industries and applications. The company is based in Pittsburgh.
3 min read · 08 September 2011
After a five-year-long OEM partnership, Hitachi Ltd has acquired California-based network storage company BlueArc Corp., Reuters reported. BlueArc had raised upwards of $215 million in venture capital and filed with U.S. regulators in June for an initial public offering. The company was backed by a slew of investors including Meritech Capital Partners, Crosslink Capital, Morgenthaler Ventures, Apax Partners, Weston Presidio, RWI Ventures, Dell Ventures, CTTV Investments, Celtic House Venture Partners, The Parkmead Group and Fort Washington Capital Partners. The specifics of Hitachi’s acquisition were not released, though some reports placed the price tag between $500 million and $600 million, Reuters said.
2 min read · 08 September 2011
TPG Capital has taken a direct stake in Indonesia buyout fund Northstar Pacific, Reuters reported. No terms were disclosed. TPG has invested in Northstar funds as a limited partner since 2006. Northstar closed its second Indonesia-focused fund on $235 million in March 2010.
2 min read · 08 September 2011
Mark Peter Davis, co-founder of the social networking start-up Kohort and a former associate at DFJ Gotham, has joined High Peaks Venture Partners as venture partner. Davis announced the move on his blog, and said that while Kohort will remain his priority, that he is "excited to help HPVP dive into the NYC market." High Peaks was one of the investors in Kohort, a social network for groups.
2 min read · 08 September 2011
Bayside Capital, an affiliate of buyout shop H.I.G. Capital, will acquire the assets of Atlanta-based Alexander Gallo Holdings, it announced Wednesday. Alexander Gallo is the parent company to court reporting and litigation solutions companies Esquire Solutions and Sanction Solutions. As part of the process, Alexander Gallo Holdings filed a voluntary Chapter 11 restructuring plan with the U.S. Bankruptcy Court. H.I.G. Capital will invest up to $20 million in the company to support operations during the bankruptcy process.
3 min read · 08 September 2011
Navajo Systems, an Israeli cloud encryption company started in the JVP Media Labs Incubator, has been acquired by Salesforce.com. JVP Media Labs is the in-house incubator of Jerusalem Venture Partners. Formed in 2009, Navajo developed a VPS cloud encryption gateway, which transparently encrypts SaaS application data before it is transmitted to a cloud provider. Terms of the deal were not released.
2 min read · 08 September 2011
