Deal Round-up 16/01/02

BoS funds Park Lane MBO;Tertio secures £3m; Wireless Maingate takes E8.6m.

BoS funds Park Lane MBO

Scottish property firm Park Lane Caledonian has been bought by two of its managers for £10m. Bank of Scotland provided funding for the deal and retains a 32 per cent stake.

The MBO see joint managing directors Sean Robinson and Brian Clarke take over from founders Eddie McDaid and Gordon Wright. Park Lane comprises a portfolio of 130 properties worth around £11.5m. It is one of three developers working on the £500m Glasgow harbour project.

Tertio secures £3m

Tertio, a UK software house, has secured £3m additional funding from its joint private equity investors Apax Partners Funds and Advent International. The money raised will be used to expand the company further.

Apax Partners manages and advises more than E12bn internationally. Some of its other investments include Autonomy, The Stationery Office and Global Refund. Advent International has invested in the £800m purchase of HMV, Waterstone’s and Dillons, CyberCity and Vinnolit.

Wireless Maingate takes E8.6m

Wireless Maingate, a Scandinavian company that develops machine-to-machine communication software has secured E8.6m from a new share issue to BrainHeart Capital and Catella. This takes the total invested in the company to E11.9m.

The new share issue makes BrainHeart Capital the largest shareholder in Maingate by almost half of the stock. Catella Kapitalförvaltning is a new, additional shareholder. The other shareholders are MVI, Telia and the founders.