PRESS RELEASE

Desalitech, Ltd., a provider of advanced water treatment solutions and technology, announced today that it has secured an equity investment led by Liberation Capital, LLC. The total investment round of $6.25M will be used for expanding Desalitech’s business and working capital. Liberation will also be supporting Desalitech with considerable project finance capital.

Desalitech is commercializing next-generation Reverse Osmosis (RO) water treatment solutions. Its proprietary Closed Circuit Desalination (CCD™) technology reduces cost by 20% or more. This is achieved by reducing energy consumption, reducing capital costs, improving process reliability and flexibility, and greatly reducing the emission of brine waste by raising recovery. The CCD process is uniquely capable of achieving high recoveries, even in problematic water sources, and this can change the economics of a water treatment project dramatically. These proven advantages make Desalitech’s solutions superior alternatives for industrial and municipal water treatment and wastewater reuse applications, and for brackish and sea water desalination.

Desalitech has productized CCD technology as packaged-plant solutions for industrial and municipal water supply and wastewater treatment applications. Plants are available as capital equipment sales or as outsourced water treatment solutions. Comprised of industry-standard reverse osmosis membranes and equipment, the technology can be readily retrofitted into existing RO facilities. Desalitech also partners with leading suppliers of water treatment systems to deploy its CCD solutions.

“Ever-increasing water stress, rising costs and increased discharge restrictions are some of the industry’s most difficult and important challenges. Solving these problems is what Desalitech is all about,” said Nadav Efraty, Desalitech CEO. “Liberation Capital is providing the growth capital we need for product commercialization as well as the project finance that will allow us to create a service-oriented business model. As importantly, the deep industry domain knowledge brought by the Liberation team and their experience in growing global businesses will help us focus our strategy and scale our business as we grow.”

“I’ve known the Desalitech team for several years,” said Jeff Garwood, Managing Director of Liberation. “Over this period, the technology has been validated, the management team has grown and matured, and most importantly, the market leaders in the industry have come to understand the technology’s benefit and significance.”

Rick Stover, Desalitech’s Executive Vice President, said, “Next-generation CCD technology is a performance breakthrough for RO water treatment. Desalitech is now prepared to recruit top performers and become a major provider of high-recovery and water reuse solutions in North America and around the world.”

Desalitech was founded by Professor Avi Efraty who is the inventor of CCD technology, and has grown under the business leadership of Nadav Efraty. In 2008, the company was funded with $3 million of venture capital investment by AquAgro Fund. Over 75 patents have been granted on the technology, and commercial CCD installations have run continuously for over three years.

About the Companies:

Desalitech provides resource and cost efficient water production and treatment technologies. Its next-generation CCD™ process is a patented, proven, highly flexible and reliable water treatment platform that raises recovery, reduces energy consumption and reduces capital cost, thereby lowering the cost of treating wastewater, industrial water, brackish water and seawater.

Liberation Capital is a Global Private Equity Fund specializing in project finance for distributed renewable energy, water and wastewater projects. Liberation Capital supports modular, repeatable, decentralized projects like those served by Desalitech. Its investment model centers on strategic partnerships with CleanTech technology firms and project developers with multi-project/multi-year investment horizons.

PRESS RELEASE

Mitralign, Inc., a cardiac device company leading the way in percutaneous mitral valve repair, today announced the closing of a $35 million Series D round of funding. The round was led by Forbion Capital Partners, a founding venture capital investor. All current investors participated in the round, including: Saints Venture Capital, Oxford Bioscience Partners, Triathlon Medical Ventures, Medtronic Corporation, Johnson & Johnson Development Corporation, Orchestra Medical Ventures, Oakwood Medical Investors, Palisade Capital Management, LLC, and Giza Venture Capital. Mitralign is currently conducting clinical studies to evaluate its innovative catheter-based mitral valve repair technology for first-line percutaneous and trans-apical treatment of Functional Mitral Regurgitation (FMR).

“Mitralign has developed the only percutaneous direct annuloplasty approach to address the substantial market opportunity for Percutaneous Mitral Valve Repair (PMVR), treating Functional Mitral Regurgitation (FMR) by transcatheter means,” said Martien van Osch, Managing Partner and CFO at Forbion Capital Partners. “The number of patients with FMR is an order of magnitude larger than the pool of patients with Aortic Stenosis, many of which are currently treated with Transcatheter Aortic Valve Replacement (TAVI). Similar to TAVI, we look forward to a PMVR market that will be well in excess of USD $1 Billion.”

“Our team has developed a system to repair a dilated and incompetent mitral valve by reducing the size of the valve, thereby moving the leaflets closer together,” said Rick Geoffrion, Mitralign CEO. “After the procedure, we keep all future clinical options on the table. That advantage makes Mitralign suitable for first-line therapy. Our procedure also has the potential to be customized according to the specific condition and anatomy of the patient, to optimize outcomes.”

“Proceeds from the Series D financing will support completing the CE Mark study, securing the CE Mark, and initiating sales in the EU,” added Mr. Geoffrion.

About Functional Mitral Regurgitation

Mitral valve regurgitation, or mitral insufficiency, is the most common form of valvular heart disease and is a condition in which the heart’s mitral valve does not close completely, causing blood to leak back into the left atrium. More than 2.5 million people in the United States suffer from moderate or severe functional mitral regurgitation. Approximately 84% of patients with congestive heart failure have the condition, with 65% of these patients suffering from a moderate or severe degree of regurgitation. Left unchecked, mitral regurgitation can lead to heart enlargement, worsening heart failure and eventually death.

About Mitralign

Mitralign is a cardiac device company founded by the Accelerated Technologies (ATI) medical device incubator. The company has developed and is currently testing an innovative, catheter-based valve repair technology for first-line percutaneous treatment of functional mitral regurgitation. The novel technology emulates surgical annuloplasty as it delivers a pair of surgical implants directly into the mitral annulus through a catheter. The implants are cinched together, thus reducing the size of the mitral valve annulus and shifting the valve leaflets closer together. The location of the implants, the extent of the cinching and the number of implants can potentially be customized according to the needs of each patient. Once the procedure is completed, therapeutic options remain open, a desirable characteristic of a first-line therapy.

PRESS RELEASE

NuMe Health LLC, a biotechnology company developing evidence-based cobiotic™ products that modify the bacteria that live in the gastrointestinal (GI) tract to support health and well-being, today announced that it has closed a $1.5 million Series A financing.  NuMe also announced that the company is initiating a clinical trial of its lead cobiotic product, NM504, which is being developed for the prediabetic population to support maintenance of healthy blood glucose levels and metabolic fitness.

The Series A financing was led by existing investor BVM Capital with the participation of company insiders, and several new private investors also joined in the round.  The company intends to use the funds to advance NM504 towards commercialization, including developing the initial format for its first consumer product, completing the pilot clinical trial and preparing for an initial direct-to-consumer launch.

“This is an exciting time for NuMe Health as we initiate the first clinical trial of our lead cobiotic product and begin to prepare for commercial launch,” said Dean P. Stull, PhD, chief executive officer of NuMe Health.  “We are pleased that our investors appreciate the potential of our revolutionary approach to support healthy blood glucose levels and metabolic fitness, and we are delighted that the trial will be conducted at the Pennington Biomedical Research Center, which has a global reputation for its clinical research in obesity and metabolic diseases.”

NM504 contains a proprietary blend of prebiotic and other ingredients formulated to help prediabetic individuals achieve healthy blood glucose levels and manage their body weight by altering the composition of their GI bacteria.  Prediabetes is a condition in which individuals have blood glucose levels higher than normal but not high enough to be classified as diabetes.  According to The Centers for Disease Control and Prevention, people with prediabetes have an increased risk of developing type 2 diabetes, heart disease, and stroke.  NM504 supports the activity of bacteria that inhibit appetite signals and stimulate satiety signals, and it also inhibits bacteria that convert undigested nutrients into extra calories.  In addition, NM504 shifts the bacteria environment of the microbiome to decrease the absorption of sugar and cholesterol.

“We welcomed the chance to lead the Series A financing due to the opportunity we see for NuMe Health to be a leader in applying the emerging knowledge of the human microbiome to prediabetes and related health conditions,” said  Ross P. Barrett, managing partner of BVM Capital and a director of NuMe Health.  “We also want to acknowledge the support from BioDistrict New Orleans, the New Orleans BioInnovation Center, Inc., Tulane University and the broader pro-business policy initiatives of the Louisiana Department of Economic Development, which have been instrumental in helping to close this round.”

The NM504 clinical trial is a placebo-controlled, double-blinded, proof-of-concept study that will test the ability of two different doses of NM504 to alter the human microbiome and support healthy insulin sensitivity and fasting blood glucose levels in prediabetic individuals.  It will assess blood biomarkers associated with GI and metabolic health, relevant safety parameters and GI bacterial changes consistent with the expected mechanism of action of NM504.

Cobiotics are combinations of naturally occurring food components that are not digested but that act to control GI bacteria in beneficial ways.  NuMe’s initial cobiotic products are derived from bioactive plant ingredients that promote the growth of specific bacteria with the potential to positively affect metabolic conditions.  NuMe’s cobiotic products are evidence-based and are being developed using rigorous scientific methods and clinical studies to assess and validate their claims.

About NuMe Health

NuMe Health is a biotechnology company developing and marketing proprietary, evidence-based cobiotic™ products–combinations of food components designed to maintain health by modifying the bacteria populations that live in the GI tract.  NuMe’s first product, NM504, is designed to support healthy blood glucose levels in prediabetic individuals.  Future products will address other conditions involving metabolism and the maintenance of healthy body weight.

PRESS RELEASE

Babson Capital Management LLC (Babson Capital), an investment management firm based in Springfield and Boston, Mass., and Charlotte, N.C., today announced it provided $18.4 million of subordinated notes and $1.5 million of equity to support The Riverside Company’s investment in The Baby Jogger Company™.

Riverside partnered with management to recapitalize Richmond, Va.-based Baby Jogger, a leading global brand name in the infant and juvenile products industry specializing in designing and manufacturing high-performance strollers, bicycle trailers, and related accessories.

“Our long relationship spans more than a decade and numerous successful investments, and Babson Capital has proven itself to be a value-added partner both as a lender and an investor,” said Riverside Partner Karen Pajarillo. “The familiarity and trust we have developed translates into an ease of working together that enabled us to complete the recapitalization of Baby Jogger on an expedited timeline.”

“Baby Jogger is a market-leading brand with a strong management team and a demonstrated ability to successfully launch new products,” said Mike Klofas, managing director and head of the Mezzanine and Private Equity Group at Babson Capital. “Riverside’s expertise in branded consumer products will help the company achieve its exciting growth potential. Babson Capital is pleased to partner with The Riverside Company once again, and we look forward to working together on future investments soon.”

About The Riverside Company

The Riverside Company is a global private equity firm focused on acquiring growing businesses valued at up to $200 million (€200 million in Europe). Since its founding in 1988, Riverside has invested in more than 275 transactions. The firm’s international portfolio includes more than 75 companies, and it has $3.2 billion/€2.5 billion in assets under management.

About Babson Capital Management LLC

Babson Capital Management LLC and its subsidiaries serve institutional investors around the globe and have $142.8 billion in assets under management as of March 31, 2012. Through proprietary research and analysis and a focus on investment fundamentals, we develop products and strategies that leverage our broad array of expertise in fixed income, equities, alternative, structured products, debt financing for corporations and debt and equity financing for commercial real estate. Based in Boston and Springfield, Mass., and Charlotte, N.C., with offices in New York City and Los Angeles, the firm’s subsidiaries include Babson Capital Europe Limited in London, Babson Capital Australia Pty Ltd in Sydney, Cornerstone Real Estate Advisers LLC in Hartford, Conn., and Wood Creek Capital Management, LLC in New Haven, Conn.

PRESS RELEASE

Lightspeed China Partners, a leading China-focused venture capital firm, today announced it has made a Series A investment in Tujia.com, the first online vacation rental services provider in China.

With this capital infusion, Tujia will expand its operations and service capabilities to meet increased demand in the emerging online vacation rental market in China, targeting middle to high-end travelers. The round also includes investment participation from CDH Investments as well as travel and vacation rental service providers Ctrip.com International (Nasdaq: CTRP) and HomeAway (Nasdaq: AWAY).

Lightspeed China Partners has been focused on early-stage opportunities in the consumer Internet and service related sectors. Earlier this year, the firm closed an investment in Meilele, which is the largest online retailer of self-branded furniture in China.

“Until now, China’s domestic vacation rental market has been a white space with significant supply and demand imbalance,” noted Ron Cao, managing director at Lightspeed China Partners. “Chinese consumers are increasingly looking for more options when they travel, and Tujia provides a unique offering with an online-offline model, and a focus on service and quality. The company’s world-class management team and first-mover advantage will position it well to become the dominate player in China’s emerging vacation rental space.”

About Lightspeed China Partners

Lightspeed China Partners (LCP) is a leading China-focused venture capital firm with investments in Internet, mobile, services, and information technology. With strong backgrounds in company operations and entrepreneurship, the partners of LCP are committed to helping a new generation of Chinese entrepreneurs become industry leaders, create world-class companies and have societal impact. In addition, LCP offers international value-added capabilities through its relationship with Lightspeed Venture Partners (LSVP). LSVP is a global venture capital firm headquartered in the U.S. with over $2 billion of committed capital under management.

About Lightspeed Venture Partners

Lightspeed Venture Partners is a leading global venture capital firm with over $2 billion of committed capital under management. Lightspeed’s investment professionals and advisors are located in Silicon Valley, China, India, and Israel. Over the past two decades, the Lightspeed team has backed more than 150 companies, many of which have become leaders in their respective markets, including Blue Nile, Brocade, Calista, Ciena, DoubleClick, eHealth, Fusion-io, Galileo Technology, Growth Networks, Informatica, Kiva Software, LivingSocial, Lucky Pai, Maker Communications, Phone.com, Playdom, Pliant, Riverbed Technology, TutorVista, Virsa Systems, Waveset, and XtremIO.

(Reuters) – Sonic Healthcare Ltd, Australia’s top pathology and radiology group, has agreed to buy some pathology assets from private equity-owned Healthscope for A$100 million ($100 million), in what could be a test for the competition watchdog.

Sonic shares jumped 2 percent to a 10-month high of A$12.80 after the announcement on Wednesday and last traded at A$12.74, sharply outperforming a 1.3 percent fall in the broader market .

Sonic will buy Healthscope’s pathology businesses in four locations around Australia which have combined annual revenue of about A$105 million, the two companies said on Wednesday.

The deal is subject to approval from the Australian Competition and Consumer Commission, which could prove to be a hurdle, depending on its view on whether deregulation of blood collection centres has succeeded in spurring competition in the sector.

Last year Sonic Chief Executive Colin Goldschmidt said the move had actually favoured the two biggest players in the business, Sonic and Primary Health Care.

“It achieved the opposite effect and has benefited the bigger companies, not the smaller pathology players,” he was quoted saying in The Australian newspaper.

Hospital operator Healthscope, bought by private equity firms TPG Capital and Carlyle Group for A$2 billion in 2010, said it was looking to sell its weaker units to focus on other parts of its Australian and offshore businesses.

“In view of our capital projects pipeline and growth prospects in other areas of Healthscope’s business, Healthscope has decided to sell its pathology business in Queensland, New South Wales, Australian Capital Territory and Western Australia,” Managing Director Robert Cooke said in a statement.

(Reuters) – Women’s apparel retailer Talbots Inc and Sycamore Partners extended the exclusivity period for the private equity firm’s non-binding $214.6 million takeover offer.

Talbots had entered into an exclusivity agreement with Sycamore on May 5 which was due to expire on May 15. This deadline has now been extended to May 22.

Sycamore marginally raised its bid for Talbots to $3.05 per share last week, disappointing investors looking for a more substantial offer.

The offer was slightly more than the $3.00 per share, or $212 million, that Sycamore first offered in December.

The struggling retailer put itself up for sale after it tried to change its store formats and cater to a younger generation of shoppers that led it to lag behind peers such as Ann Inc and Chico’s FAS Inc.

Talbots shares were up 11 percent in extended trading. They closed at $2.38 on Tuesday on the New York Stock Exchange.

PRESS RELEASE

River Associates Investments (“River Associates” or “RAI”), a leading lower middle market private equity firm, today announced the final closing of its sixth investment fund complex. River VI, with $222 million in commitments, exceeded its initial target of $200 million and is more than twice as large as River V, which was a $110 million fund.

River Associates received strong support from its existing investors, with almost all of them making a capital commitment to River VI. In addition, River VI attracted an impressive list of new investors including internationally recognized insurance companies, endowments, pension plans and private equity fund-of-funds. As they have in prior funds, the partners of River Associates made significant personal capital commitments to River VI.

River VI will continue RAI’s strategy of control buyouts of lower middle market companies. River Associates generally targets investments in platform companies with $3-10 million of operating cash flow (EBITDA) located in the U.S. or Canada. River Associates has invested in companies located in 20 different states and two Canadian provinces. The firm is opportunistic as to industries, having invested in a wide array of sectors including manufacturing, distribution, industrial service, business service and select specialty retail. In many instances, RAI employs a “buy & build” strategy in an effort to grow platform companies via strategic acquisition.

“We sincerely appreciate the support of our existing and new investors who see value in our time-tested track record and strategy”, said Mark Jones, Partner of RAI. “We are focused on continuing to differentiate ourselves with our longstanding tenure of supporting management teams of lower middle market companies. We have always believed that all of our investments are equally important since behind each investment are management co-investors and numerous employees who look to us as economic and strategic partners. The larger fund size will allow us to acquire platform companies at the top end of our $3-10 million EBITDA range as well as effect numerous add-on acquisitions.”

Founded in 1989, River Associates has completed 71 distinct investments, including platform and add-on opportunities. The firm has generated strong returns for its investors and portfolio company management teams, the latter of whom are often meaningful investors in their respective companies. The firm has focused on earnings growth over financial engineering to generate returns.

Speaking to the current investment pace of River VI, Partner Mike Brookshire relays that “we are pleased that we have already been able to invest almost $50 million of River VI capital prior to the final closing and we are excited to now solely focus on identifying new platforms as well as working to grow existing River VI portfolio companies. Our current platforms include such diverse companies as National Deli (deli meats), KK Precision (complex components for gas turbines), Omega Environmental Technologies (aftermarket automotive truck and off-road air conditioning parts) and Industrial Magnetics (permanent and electromagnets for work holding, lifting, fixturing, conveying and magnetic separation applications) and we hope to complete strategic add-ons for all of these businesses.”

Proskauer Rose LLP served as fund counsel for River VI. LB Group LLC acted as placement agent for certain limited partner interests.

About River Associates Investments, LLC

Founded in 1989, RAI has a 22+ year track record of initiating control buyouts of lower middle market companies in a variety of industries. The firm focuses on companies with operating cash flow (EBITDA) in the $3-10 million range where they can invest $10-30 million of equity. Over its history, RAI has invested in numerous family succession transactions, founder owned business sales, corporate divestitures and private equity portfolio company dispositions. In addition to Mark Jones and Mike Brookshire, RAI partners include Jim Baker, Patten Pettway and Craig Baker.

(Reuters) – Facebook Inc will increase the size of its initial public offering by 25 percent, a source familiar with the matter said, and could raise as much as $16 billion as strong investor demand for a share of the No.1 social network trumps debate about the company’s long-term potential to make money.

Those concerns over revenue growth were underscored earlier on Tuesday, when General Motors said it planned to pull out of advertising on Facebook.

Facebook, founded eight years ago by Mark Zuckerberg in a Harvard dorm room, will add about 85 million shares to its IPO, floating about 422 million shares in an offering expected on Friday, the source told Reuters, declining to be identified because the information was confidential.

The expanded size, coupled with Facebook’s recently announced plans to raise the IPO price range, would make Facebook the third-largest initial share sale in U.S. history after Visa Inc and GM. Facebook declined to comment on the increased IPO size, which was first reported by CNBC on Tuesday.

The social networking company is drumming up massive demand for the offering even as slowing revenue and user growth spur questions about the long-term Facebook story.

“This is much more a spectacle, a media event and a cultural moment than it is an IPO,” said Max Wolff, an analyst at GreenCrest Capital. “This is not a game of models and fundamentals at this point.”

GM’s announcement, while ill-timed, should not seriously hurt Facebook’s IPO reception for now as it may not be representative of advertisers’ overall attitude, said Brian Wieser, an analyst with Pivotal Research Group. “The demand for the IPO probably won’t be affected materially by this,” he said, noting, however, there were probably a lot of calls between underwriters and investors following GM’s announcement.

The IPO, Silicon Valley’s largest, eclipses the roughly $2 billion debut by Google Inc in 2004.

Facebook raised the target price range to $34-$38 per share in response to strong demand, from $28-$35, according to a Tuesday filing. That would value the company at $93-$104 billion, rivaling the market value of Internet powerhouses such as Amazon.com Inc, and exceeding that of Hewlett-Packard Co and Dell Inc combined.

The increased price range made it very unlikely that Facebook shares would double on their trading debut as they might have if the company had come out at the low end of its initial price range, Wolff said. He expects a first-day gain of about 10 percent.

“No rational person thought they were buying the stock for $28,” said Wedbush Securities analyst Michael Patcher, noting Facebook had traded as high as $44 in the secondary markets in recent months.

Facebook said in its latest filing that it arrived at the higher IPO price range after one week of marketing the offering – part of a cross-country roadshow in which CEO Zuckerberg has taken the stage to lay out his vision for the company’s money-making potential and its top priorities.

The price range hike, coupled with strong results from Internet and social media players Groupon Inc and China’s Renren Inc, contributed to a dotcom rally on Wall Street on Tuesday. Shares of Pandora Media Inc rose 10.3 percent, Zynga Inc was up 7.7 percent, Groupon climbed 3.7 percent and Renren gained 6.4 percent.

LONG-TERM GROWTH

Before the IPO size was increased, Facebook would have raised about $12.1 billion based on the midpoint price of $36 and the 337.4 million shares on offer originally.

At this midpoint, Facebook would be valued at roughly 27 times its 2011 revenue, or 99 times earnings. Google went public at a valuation of $23 billion, or 16 times its trailing revenue and 218 times earnings. Apple Inc went public in 1980 at a valuation of 25 times its revenue and 102 times earnings.

Facebook’s IPO comes as some investors worry the company has not yet figured out a way to make money from a growing number of users who access the social network on mobile devices such as smartphones. Meanwhile, revenue growth from Facebook’s online advertising business, which accounts for the bulk of its revenue, has slowed in recent months.

With some 900 million users, it had $1 billion in net income on revenue of $3.7 billion in 2011.

The company has also extended the time frame for its $1 billion acquisition of mobile app maker Instagram, projecting the deal would close this year instead of the second quarter as it previously indicated.

It provided no reasons, though a source familiar with the matter told Reuters last week that the U.S. Federal Trade Commission has reached out to Google and Twitter as part of the agency’s standard review for deals of that size.

Facebook is scheduled to price its shares on Thursday and begin trading on the Nasdaq on Friday. A host of Wall Street banks are underwriting the offering, with Morgan Stanley, JPMorgan and Goldman Sachs serving as leads.

(Additional reporting by Tanya Agrawal; Editing by Edwin Chan, Maureen Bavdek, Matthew Lewis, Richard Chang, Ryan Woo and Ian Geoghegan)