Deal Round-up 13/12/01

Watchmark takes $26.6m third round funding; 3i backs £22.2m Spain’s Sammic MBO

Watchmark takes $26.6m third round funding

WatchMark, a US company offering service assurance software for wireless telecom service providers and other converged network providers, has secured $26.6m from a consortium of investors. The money raised will be used to expand into China and South America, and increase its marketing efforts.

Investor Growth Capital and Ericsson Ventures Partners have partnered to lead the third round funding, and existing investors Pequot Capital, Origin Partners and Lucent New Ventures Group have returned.

3i backs £22.2m Spain’s Sammic MBO

Enodis, a UK-based food equipment maker, has sold its Spanish subsidiary Sammic to a 3i-backed management team for £22.2m.

The net cash consideration, which will be used by Enodis to reduce debt, is more than £20m after repayment of £2.2m intercompany balance due to Sammic.