Deal round-up 21/10/03

AMPJE backing for Scottish bakery; Pod leads $10m Swedish fibre optics round; Wellington investment concludes MTM round

AMPJE backing for Scottish bakery


Aberdeen Murray Johnstone Private Equity (AMJPE) has paid £2m for a minority stake in Enterprise Food Group (EFG), a Scottish-based bakery business founded in 1994, to back the company’s expansion across the UK.


EFG provides supply chain management services to the bakery sector, as well as sales, marketing and procurement advice to independent bakeries across the UK. EFG also operates three manufacturing businesses in central Scotland and employs over 250 people with some 200 involved on the production side.


The deal is the eighth this year completed by AMJPE's Glasgow team headed by Bill Nixon.


Pod leads $10m Swedish fibre optics round


Pod Holdings, a technology investment firm based in the US and Sweden, has led a $10m financing round for Transmode Systems, a supplier of transmission equipment for fibre optic networks. The financing round brings the total funds raised by Transmode to $28m since 2000.


Existing investors Amadeus Capital Partners and European Equity Partners (EEP) also participated in the round, which will be used to strengthen the firm’s product portfolio, develop new markets and reinforce Transmode’s overall organisation, according to Isaac Olasoko, Transmode's CEO. “We now want to focus on augmenting our customer value proposition, and subsequently create enhanced value for our existing and new shareholders,” he added.


Wellington investment concludes MTM round


Munich-based venture capital firm Wellington Partners has invested E3m in a second round financing of MTM Laboratories, a biotechnology company focused on the early detection and prevention of cancer, closing the round on E12m. Since 1999, MTM has raised a total of E28m.


HBM BioVentures and original shareholders Heidelberg Innovation and Mannheim Holdings backed the first closing of the round, held in May. HBM and Wellington co-led the round. The additional funds will enable MTM to develop its cancer diagnostics portfolio and to take the products through to market.