Private Equity
CloudHealth Technologies, the provider of a platform on which companies can visualize, optimize and automate their cloud environments, named Larry Begley chief financial officer. Begley joins CloudHealth from .406 Ventures, an early-stage venture-capital firm he co-founded. .406 Ventures participated in CloudHealth’s first two venture-funding rounds, and Begley has served as a CloudHealth director. Both firms are based in Boston. .406 Ventures recently closed its third venture fund, bringing its investment total to nearly $600 million.
3 min read · 05 April 2016
Jensen Hughes, the Baltimore provider of fire-protection engineering, fire-code-consulting and other services, closed the purchase of Aon Fire Protection Engineering Corp. Terms weren't disclosed. Jensen Hughes is majority-owned by Gryphon Investors, the San Francisco middle-market private equity firm. Gryphon bought Jensen Hughes, formerly Schirmer Engineering, in partnership with management in December 2015. Kirkland & Ellis LLP provided legal advice to Jensen Hughes.
2 min read · 05 April 2016
LiveSafe Inc, the Arlington, Virginia, provider of a safety-and-security-communications platform for application at enterprises and event facilities, received $5.25 million of Series B venture financing from an affiliate of Frederick W. Smith, chairman and CEO of FedEx Corp. Smith also will join LiveSafe’s board. FedEx is the Memphis, Tennessee, package-delivery and logistics company.
2 min read · 05 April 2016
Leeds Equity Partners, the New York private equity firm, agreed to sell Evanta Ventures to CEB for $275 million. Evanta, based in Portland, Oregon, provides events, platforms and information offerings to train IT-security, human-resources and finance staff in collaboration and best practices. CEB, Arlington, Virginia, provides insight and technology for best practices. The deal is subject to closing conditions, including clearance under U.S. antitrust law.
4 min read · 05 April 2016
Solidifi, the Buffalo, New York, provider of real-estate-valuation services to 60 of the top 100 lenders, said it acquired Linear Title & Closing Ltd for as much as US$96 million, conditioned on performance metrics. Solidifi is a unit of Real Matters Inc, which in turn is backed by Whitecap Venture Partners, the Toronto early-stage VC firm. Linear, based in Rhode Island, provides real-estate services. Real Matters, Markham, Ontario, privately placed $100 million of common equity to fund the deal.
3 min read · 05 April 2016
Cortec Group, the New York private equity firm, said that an affiliate invested in Chauvet and Sons LLC, the Sunrise, Florida, developer of entertainment and lighting equipment with applications for clubs and theaters, concerts, corporate events, houses of worship and more. Terms of the investment, made in partnership with Chauvet managers, weren't disclosed. The deal "is the second platform investment in Cortec Fund VI, a $1.1 billion fund that closed in May 2015," the firm said in a statement.
3 min read · 05 April 2016
Deutsche Telekom Capital Partners, the German telecom group's investment-management division, named Jack Young partner in charge of global venture operations. Young joins DT Capital Partners from Qualcomm Ventures, the investment unit of the San Diego chipmaker, where he was a managing director responsible for venture investment and portfolio management in North America.
2 min read · 04 April 2016
IPS Corp, a Compton, Calif.-based producer of specialty adhesives, solvent cements, and specialized plumbing products, has acquired Integra Adhesives from its founder Doug Turner and other shareholders. No financial terms were released. Based in Abbotsford, British Columbia, Integra is a maker of adhesives for solid surfaces, engineered stone and composites. It is the fifth acquisition made by IPS since it became a portfolio company of U.S. private equity firm Nautic Partners in early 2015. Last November, IPS bought the solvent cement assets of Canada's Schwartz Chemical Corp.
2 min read · 04 April 2016
IPS Corp, the Compton, California, producer of specialty adhesives, solvent cements, and specialized plumbing products, acquired Integra Adhesives from its president and other shareholders. Terms weren't disclosed. Integra is the Abbotsford, British Columbia, producer of adhesives used to bind stone and solid-surface building products. IPS is a portfolio company of Nautic Partners VII, L.P. and Nautic Partners VII-A, L.P. Nautic Partners is the Providence, Rhode Island, middle-market private equity firm.
2 min read · 04 April 2016
Norwest Equity Partners, the Minneapolis middle-market investment firm, divested a portfolio company, Momentum Group, the Irvine, California, distributor of textiles for office, hospitality, healthcare and university uses. Terms weren't disclosed.
3 min read · 04 April 2016
