Private Equity
2 min read · 11 April 2016
Ardian, the Paris investment firm, agreed to sell a majority stake in Novacap to Eurazeo and Merieux Développement. Terms weren’t disclosed. Ardian said in a statement that it would retain a minority holding in Novacap. The deal is subject to regulatory clearances. With Ardian’s support in the past five years, Novacap, the Lyon, France, chemicals group, expanded internationally, making six acquisitions, Ardian said. Eurazeo is the Paris investment firm while Merieux, of Lyon, is a healthcare-focused fund with investments in diagnostics, medical devices and more.
2 min read · 11 April 2016
Advent International closed the sale of Aeropuertos Dominicanos Siglo XXI to a subsidiary of Vinci SA. Terms weren’t disclosed. Advent acquired Aerodom, operator and developer of six airports in the Dominican Republic, in September 2008. Advent said that Latin American airport and infrastructure sector is a key focus, with the firm investing in the sector for 19 years and having backed 16 companies. In Latin America broadly, Advent has raised more than $6 billion from institutional investors and has invested in more than 50 companies there. Vinci, based in Rueil-Malmaison, France, has interests in concessions and construction.
3 min read · 11 April 2016
Ankura Consulting Group, the Washington business-advisory firm, acquired Marotta Gund Budd & Dzera, the New York turnaround and restructuring firm. Terms weren’t disclosed. MGBD advises investors, directors and senior management as well as creditors of underperforming companies, Ankura said in a statement. MGBD expands Ankura’s practice in turnarounds and restructuring, the firm said.
2 min read · 11 April 2016
Halifax Group, the Washington private-equity firm, named three of its principals as partners and members of the investment committee: Scott Van Duinen, Scott Plumridge and Chris Cathcart. Van Duinen and Plumridge source and manage investments while Cathcart heads the firm’s business development. Halifax is investing out of Halifax Capital Partners III LP, which closed in 2012.
2 min read · 11 April 2016
A division of Z Capital Group LLC, the Lake Forest, Illinois, alternative-investment manager, plans to acquire Pink Taco, a concept restaurant with locations in Los Angeles and Las Vegas. Terms weren’t disclosed. Z Capital Partners, the firm’s private-equity-management arm, is the largest holder of Real Mex Restaurants and plans to use that chain’s experience to expand Pink Taco, Z Capital Group said in a statement. Pink Taco was founded in 1999 by the restaurateur Harry Morton, who will continue to lead its strategic marketing, Z Capital said.
3 min read · 11 April 2016
An affiliate of Woodbury Health Products Inc, the Floral Park, New York, distributor of incontinence and catheter-related supplies, purchased certain assets of Advanced Medical Group. Advanced Medical is the Suwanee, Georgia, distributor of home urological supplies. Terms weren’t disclosed. Woodbury, which distributes its products from a facility in Wilmington, North Carolina, is owned by funds that are managed by MTS Health Investors LLC, the New York healthcare-focused private equity firm.
1 min read · 08 April 2016
Luma, the Atlanta producer of Surround WiFi for the home, raised $12.5 million of Series A financing. The round was led by Accel and reflected a “significant” investment from Amazon Alexa Fund. The additional new investors included David Dorman, former CEO of AT&T and 500 Startups. Reinvesting were Felicis Ventures, Base Ventures, BIP Capital, Relay Ventures, and Webb Investment Network. Luma said in a statement that it would use the funds to meet demand for the system, expand operations and do R&D.
3 min read · 07 April 2016
BlueVine, the Palo Alto, California, provider of working-capital financing to small businesses, named Ana Sirbu vice president of finance and strategy, responsible for financial management and growth strategy, including debt capital financing activity. Sirbu joins BlueVine from Google Capital, Google’s growth equity investment fund, where she was a manager and led efforts in FinTech. Sirbu’s resume also includes tenures at Skrill, the London online-payments firm, Silver Lake Partners and UBS.
3 min read · 07 April 2016
ViewLift, the New York provider of an over-the-top content distribution and monetization platform, closed an $8 million funding round. Weekapaug Partners and Robert Hisaoka joined previous investors Ted Leonsis, Clark Ventures, New Enterprise Associates, Revolution and others. In addition, ViewLift said it named Steven Brown chief revenue officer. Brown joins ViewLift from NeuLion Inc., the Plainview, New York, specialist in digital video broadcasting, distribution and monetization, where he was senior vice president of advertising solutions and platform sales.
3 min read · 07 April 2016
