Advent closes sale of Vinnolit to Westlake

Westlake Chemical Corp. has completed its acquisition of Vinnolit and its subsidiary companies from Advent International. No financial terms were disclosed. Based in Ismaning, Germany, Vinnolit is a provider of PVC resins.

Advent International to exit Vinnolit

Westlake Chemical Corp. has agreed to acquire Vinnolit and its subsidiary companies from Advent International for 490 million euros. The transaction is expected to be completed in the third quarter of 2014. Based in Ismaning, Germany, Vinnolit is a provider of PVC resins.

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Charterhouse Capital’s Pointwell Limited acquires Skillsoft

Dublin, Ireland-based education software provider Skillsoft said Monday that it has sold its subsidiaries to Pointwell Limited, which is backed by Charterhouse Capital Partners. No financial terms were disclosed. Deutsche Bank Securities advised Skillsoft on the deal while Ropes & Gray served as legal counsel. Barclays served as exclusive financial advisor to Pointwell Limited. Skillsoft was backed by Advent International, Bain Capital and Berkshire Partners.

Advent International invests in FinancialForce.com

FinancialForce.com said Thursday that it has secured $50 million in funding from private equity firm Advent International. As a result of this transaction, UNIT4 will remain as FinancialForce.com’s majority investor while Salesforce.com continues to hold a minority stake in the firm. Headquartered in San Francisco, FinancialForce.com is a cloud ERP provider on the Salesforce1 platform.

Advent International’s P2 taps Apotheker for board of directors

P2 Energy Solutions, a portfolio company of Advent International, has named Léo Apotheker to its board of directors. Apotheker is the current chairman of KMD AS and a former co-CEO of SAP. P2 is a provider of software, geospatial data and land management solutions for the upstream oil and gas sector.

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Advent, Bain and ATP buy Nets for $3.1 bln – Reuters

Private equity firms Advent International and Bain Capital, along with Danish pension fund ATP, are to buy payment services company Nets Holding from a group of Nordic banks for 17 billion Danish crowns ($3.14 billion), writes Reuters. Nets is was owned by a group of 186 banks.

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peHUB First Read

Catch up on the latest private equity news headlines after the weekend including coverage of management fees, fundraising and Asian private equity and a mega deal for Advent, Bain and ATP from some Nordic banks.

Advent International appoints operating partner

J. Rich Alexander has joined Advent International as an operating partner. He will work with Advent’s chemicals team to identify and evaluate new investment opportunities in the chemicals and materials sector and create value in existing portfolio companies.

Advent International leads Ocensa deal

An investor group led by Advent International is to acquire a minority interest in Oleoducto Central S.A., a Colombian crude oil transportation system. Colombia’s two largest pension funds Sociedad Administradora de Fondos de Pensiones y Cesantías Porvenir S.A. and Administradora de Fondos de Pensiones y Cesantía Protección S.A. will join Advent, through a co-investment fund formed by Advent. Completion of the transaction is subject to customary closing conditions and is expected to take place within the next few weeks.

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