AdAstra invests in Web2CAD
AdAstra Erste Beteiligungs, ETV Beteiligungs, Technologiebeteiligungsgesellschaft der Deutschen Ausgleichsbank and 3i have invested E13.15m in a second round for Web2CAD.
Software firm Web2CAD, which was created in December 1999, will use the money for commercial expansion.
Advanced Capital invest in Esterel
Advanced Capital Europe, CDC Innovation Partners, Galileo Partners and Intel Capital have invested E12.3m in a third round for Esterel Technologies.
The Guyancourt-based company, which develops software tools for verification and validation of embedded systems, said the funding would be used for expansion.
Esterel had previously received funding from eNgenuity Technologies, which has a 22.7 per cent stake in the firm, as well as Financière de Brienne, Inria Transfert, Innoven, Innotech, Finno, and Thales Corporate Ventures.
LDC backs £22.5m MBI of Industrial Cooling Systems
Industrial Cooling Systems (ICS) has been acquired in a management buy-in deal worth £22.5m.
Lloyds TSB Development Capital (LDC) invested £8.25m for a majority stake in the company and Lloyds TSB Acquisition Finance put up additional funds.
Hampshire-based ICS's management team will be led by new managing director, John Lynn, who was previously at Chemring.
The MBI team was advised by BDO Stoy Hayward Corporate Finance.
ICS has an annual turnover of £19 million. Existing customers include Rolls Royce, Nestle Rowntree, BMW and British Aerospace. The supplier of industrial cooling equipment aims to expand through acquisition.