Deal round up 07/06/02

Lloyds TSB backs ADC Wireless; ACT Ventures backs Eblana Photonics; Sagitta leads MBO at Connections+

Lloyds TSB backs ADC Wireless

Lloyds TSB Development Capital has provide equity financing to ADC, a UK based provider of wireless infrastructure services, as the firm looks to expand its international operations. ADC has to date installed networks in over 100 countries and has reported 85 per cent growth over the past three years. The firm’s client list includes Vodafone, Orange, mmO2, Nokia, Motorola and Ericsson.

Lloyds TSB Development Capital (LDC) has provided £17.5m in this financing round, an investment which values the firm at £60m. LDC’s Jonathan Simm will join the ADC board as part of the transaction.

ACT Ventures backs Eblana Photonics

ACT Venture Capital has joined Enterprise Ireland in backing Eblana Photonics, a newly-established laser communications developer based in Dublin. The size of the investment has not been disclosed, although the funding brings the Eblana Photonics total investment to E3.6m over the last year.

Eblana Photonics is a spin out from Trinity College Dublin, the Irish National Microelectronics Research Centre and Enterprise Ireland, each of which are shareholders in the company. Other investment in the company comes from a combination of Irish and US private equity sources. The latest round of funding will enable the firm to move from development stage into production.

Sagitta leads MBO at Connections+

UK-based private equity firm Sagitta Private Equity, has led a E3.65m management buyout at Connections Plus, a UK multimedia communications firm based in the north of England.

Sagitta has led the buyout in conjunction with Fortis Bank which provided debt financing for the transaction. Communications Plus employs 350 people across its offices in Skipton and Burnley.