Advent International, the Boston-based private equity firm, will add James Westra as a managing director and chief legal officer, advising Advent’s investment teams globally on deal structuring and general legal matters. Previously, Westra was member of the management committee and co-head of the private equity practice group at Weil, Gotshal & Manges LLP. At Weil, Joseph J. Basile was named managing partner to replace Westra.
3 min read · 08 September 2011
Foundation Capital led as $30 million round of financing for Aquion Energy, a maker of batteries and energy storage systems. Aquion Energy is based in Pittsburgh. Other investors chipped in for the round as well; KPCB returned to back Aquion, and Advanced Technology Ventures and TriplePoint Capital, each new backers, invested as well. Aquion counts the US Department of Energy among its existing shareholders.
5 min read · 07 September 2011
2 min read · 07 September 2011
BountyJobs, the online marketplace that introduces corporate recruiters with headhunters, has closed a new round of financing for $5 million, which was led by Greylock Partners. Joining Greylock in the round was Accel Partners and Michigan-based RPM Ventures.
2 min read · 07 September 2011
Avatar International has been sold via a secondary PE deal, changing hands between former owner Veronis Suhler Stevenson, the New York sponsor, and going to the Riverside Co., the Cleveland PE shop. The deal represents a larger than 4.0x ROI driven by a sole focus on organic growth. VSS was represented in its sale of Avatar International by financial advisors TripleTree, LLC.
5 min read · 07 September 2011
Houston-based seed stage VC DFJ Mercury has promoted Aziz Gilani to the director role. Gilani currently works with DFJ Mercury portfolio companies BlackLocus, GameSalad, Graphicly, Infochimps, Koupon Media, and ShareThis. Before joining DFJ Mercury, Gilani was a Senior Engagement Leader with Infosys Consulting where he led the Enterprise Asset Management Practice.
3 min read · 07 September 2011
Kunal Kamlani will rejoin Presige Cruise Holdings as president and COO after serving as head of BofA/Merrill’s global investment solutions division. The addition of Kamlani follows the recent promotion of Oceania Cruises’ co-founder and long-time president, Bob Binder. Prestige Cruise Holdings (PCH), the parent corporation of Oceania Cruises and Regent Seven Seas Cruises, was formed in 2007 by Apollo Management.
3 min read · 06 September 2011
Arlington Capital Partners, the Washington, D.C., based private equity firm, will see Scott Kantor join Advanced Health Media, its portfolio company based in New Jersey, as CFO. Most recently, Kantor served as Senior Vice President and CFO of BackOffice Associates, LLC, a leading provider of data migration and data governance solutions to global companies implementing or running SAP.
2 min read · 06 September 2011
3 min read · 06 September 2011
Clark Holdings Inc., the provider of logistical service for print media and other supply chain management clients, will be acquired by Gores Group LLC for $0.46 per share, a premium on the company’s stock of about 171 percent. EVE Partners advised Clark on the deal.
5 min read · 05 September 2011
