IPOs boost North America exit activity

IPOs are accelerating private equity exit activity in North America, according to EY’s annual North American PE exit study titled Returning to safer ground: How do private equity investors create value? The report is now in its eighth year and examines the results and methods of 893 exits between 2006 and 2013.

First Reserve promotes two

First Reserve has promoted two investment professionals within the buyout funds team. Jesse Krynak and David McFarland have both been promoted to vice president.

Abacus backs Wafra Partners’ Atronix buyout

Abacus Finance Group has provided a $19 million in senior secured credit facility to support the leveraged buyout of Atronix by Wafra Partners and its affiliate Wafra Investment Advisory Group. Headquartered in Billerica, MA, Atronix is a provider of cable assemblies, wire harnesses and electromagnetic assemblies.

Beringea’s Abzena raises funds on AIM

Beringea portfolio company Abzena has raised funds on the AIM market of the London Stock Exchange. Beringea first invested in Polytherics through ProVen Growth and Income and ProVen Health in September 2011.


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Find out the latest midweek news including JPMorgan inching towards its PE business sale, insights into Indiana and Maine investment fees and expenses, public PE firms finally putting in a good performance and a review of growth equity funds.


AppDynamics secures $120 mln growth funds

AppDynamics has secured $120 million in growth financing led by new investors Battery Ventures, ClearBridge Investments and Sands Capital. Existing investors Greylock Partners, Lightspeed Venture Partners, Kleiner Perkins Caufield & Byers and Institutional Venture Partners also participated in the round. The $120 million includes $50 million in debt financing provided by Silicon Valley Bank. AppDynamics is an application intelligence provider.

Cotton Creek Capital adds to investment team

Cotton Creek Capital has appointed Alan Goldstein as an associate in the Austin office. Previously, Goldstein was an investment banking analyst at Jefferies Group in New York, specializing in mergers and acquisitions.


Behrman Capital seals $410 mln ILC refinancing deal

Behrman Capital has completed a $410 million refinancing for its portfolio company ILC Industries. The new credit facility is comprised of a $300 million first lien term loan, a $30 million revolving credit facility, and an $80 million second lien term loan.


Pamlico backs DayNine Consulting

Pamlico has backed DayNine Consulting. DayNine is a global Workday services partner. The business deploys and optimizes Workday Human Capital Management, Workday Payroll, Workday Financial Management, and Workday Recruiting for businesses of all sizes.

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