Deal round-up 19/04/02

CapMan acquires Swedestart Management; Lynx New Media backs OBE; BioLife Ventures buys Zimed

CapMan acquires Swedestart Management

Finnish private equity firm CapMan has completed the acquisition of its Sweidsh counterpart Swedestart Management. The value of the transaction is E17m and will be paid to the existing three shareholders of Swedestart in cash and shares.

The acquisition of Swedestart Management is part of CapMan’s Nordic growth strategy and builds up the company’s market position in mid-sized buyouts and technology investments as well as investments in the life sciences sector in the Nordic countries.

After the acquisition of Swedestart, the CapMan team consists of 70 people, with offices in Helsinki, Stockholm and Copenhagen. The funds managed by CapMan have invested in total in 121 unquoted companies in the Nordic countries and exited from 44 companies.

 

Lynx New Media backs OBE

 

Lynx New Media, the venture capital company of which former BBC director general Lord Birt is the chairman, has led a $7.7m funding round in US invoice delivery service Open Business Exchange.

 

The latest financing, of which over a third was contributed by existing investors, increases the total funds raised by the firm to $13m. US group Cargill joined Lynx in backing the company, which is expected to reach cash break-even in 2003, and, depending on the environment, will raise more money to support expansion in continental Europe.

 

BioLife Ventures buys Zimed

UK-listed venture capital firm BioLife Ventures has announced the acquisition of Zimed, a developer of patient monitoring devices. BioLife will initially pay just over £1.75m for the firm, which would increase the value of the deal by £420,000.

BioLife Ventures was admitted to AIM in July 2001 with the objective of establishing or acquiring early stage companies with the prospect of high returns and substantial capital growth.