Ratos exits Esselte
Swedish private equity firm Ratos has completed the sale of its 17 per cent stake in Esselte, the Swedish supplier of office equipment. The purchaser is US private equity fund JW Childs, which has submitted an offer to acquire Esselte outright.
The sale was completed at a price of SEK90 (E9.78) per share, generating approximately SEK520m for Ratos. The sale increases the company's shareholders' equity by approximately SEK140m and equates to an overall exit gain of approximately SEK95m. JW Childs had specified that it would proceed with the deal to acquire Esselte only on the condition that Ratos approved the transaction.
Broadview completes rare e-ICP fundraising
Broadview Networks, a New York-based electronically integrated communications provider (e-ICP), has completed an additional $40m round of equity financing. Investors in the latest round include ComVentures, New Enterprise Associates, Baker Capital, Lightspeed Venture Partners and TIAA-CREF.
The funds raised will be used to support the rapid integration of Networks Plus, the Massachusetts-based competitive local exchange carrier (CLEC) purchased by Broadview Networks in March. Network Plus was the fourth acquisition by Broadview Networks in less than eight months.
Strathdon leads Meta financing round
Strathdon Investments Ltd. ('Strathdon'), the technology venture capitalist, has led a further round of equity funding in Meta Vision Systems ('Meta'), a global supplier of laser-based guidance systems for welding applications.
Strathdon provided £150,000 and the management team committed a further £110,000. The investment brings Strathdon's total investment in the Company to £745,000. The new funding will be used to integrate the operations Meta with Integrated Sensor Systems of both companies and for new marketing initiatives.