Fusion Capital, which is part of UK-based Fusion Investments, is putting $150 million to work in small and medium-sized businesses across Africa, Reuters reported. The fund – known as Fusion African Access – began investing in March and aims to deploy the entire fund by the end of the year. It invests between $250,000 and $5 million per company.
2 min read · 18 August 2011
Publicly traded General Dynamics will pay $960 million in cash for Vangent Inc., a provider of healthcare information-technology and business systems to federal agencies, the companies announced Thursday. Vangent is majority-owned by the Veritas Capital Fund III. General Dynamics says that following the close of the deal, expected by October 1, that Vangent will become part of its information technology group.
3 min read · 18 August 2011
Devicor Medical Products, a company backed by GTCR, has completed its acquisition of certain products and assets from Neoprobe Corp. The deal included $30 million in cash payments at closing plus up to $20 million in potential milestone-based royalties.
3 min read · 18 August 2011
Palm Beach Capital has exited its investment in North American Substation Services, selling its equity interest to BBH Capital Partners III, a private equity fund managed by Brown Brothers Harriman & Co. Financial terms of the deal were not disclosed. Altamonte Springs, Fla.-based North American Substation Services is an independent repair, maintenance and installation provider for electric utility substations.
2 min read · 18 August 2011
Allegiance Capital, an investment bank focused on the lower middle market, has added Steven Nigro as a managing director. He worked previously as chief operating officer of Pfife Hudson Group Inc., an investment bank focused on financial services. He will be based in New York.
2 min read · 18 August 2011
Buyout shop Permira is paying $440 million in cash to buy publicly traded education software company Renaissance Learning Inc. At $14.85 per share, the purchase price represents a 26% premium over the company’s closing price Monday. Wisconsin-based Renaissance makes technology-based school improvement and student assessment programs for K-12 schools.
6 min read · 16 August 2011
Greenbriar Equity Group will pay up to $185 million to buy publicly traded Anixter International Inc., a distributor of communication and security products, electrical and electronic wire & cable, fasteners and other small parts. The deal includes $155 million in cash payments and up to $30 million if certain milestones are reached. The deal is expected to close in the third quarter.
3 min read · 16 August 2011
Germany is looking for private investors to buy part of Daimler’s stake in aerospace group EADS, Reuters learned Tuesday. Daimler, the automaker, owns 15% of EADS and has made it clear that it would like to reduce its stake. Germany’s government however, is interested in preserving the Franco-German balance of ownership in EADS, Reuters wrote. The French government and French media group Lagardere hold a combined 22.5% interest in EADS.
2 min read · 16 August 2011
The Carlyle Group is in talks to buy drug research services provider Pharmaceutical Product Development Inc., Reuters reported Monday. A sale of PPD could fetch around $4 billion, according to industry analyst predictions this summer. Bloomberg first reported news of the talks.
1 min read · 16 August 2011
Utah-based HzO Inc., which makes technology for consumer and industrial electronic assemblies, has raised $7 million from Harris & Harris Group, Prudence Holdings and Pike Capital Partners. The company, which is majority owned by Zagg Inc., also saw an additional investment from Zagg. The funding will help HzO launch its technology into the market.
5 min read · 16 August 2011
