For those about to rock, Sterling Partners salutes you. The Chicago-based private equity firm is putting another $5 million in School of Rock, the music education company, along with the company’s existing investors. School of Rock was formed in Philadelphia. PRESS RELEASE: Second capital infusion since 2009 investment will further expand growth in U.S. and [...]

Trending in the news this week: Audax Group, Canopy Financial, Chamath Palihapitiya, Eric Schmidt, Henry Ellenbogen, Identified, Indiana Public Retirement System, KPS Capital Partners, SecureNet, Sterling Partners, T. Rowe Price and Bill and Tim Draper.

Marc Potash, ex-CEO of SecureNet, is suing Sterling Partners for $375 million. He claims he was duped into selling 52% of the company in 2010.

Lightyear Capital has acquired Paradigm Management Services, a provider of healthcare management services, from Sterling Partners. Middle-market investment bank Harris Williams & Co. announced the deal, which closed on Wednesday. Terms were not released. Harris Williams & Co advised Paradigm.

Sterling Partners has sold  Paradigm Management Services to Lightyear Capital. Financial terms of the deal, which closed Feb. 1, were not announced. Walnut Creek, Calif.-based Paradigm provides healthcare management services. News of the transaction was announced by Harris Williams which provided financial advice to Paradigm.

Progressus Therapy, a provider of special education solutions to school districts and communities has appointed Gene Clark, Ph.D. as its new chief executive officer and Janet Knupp as its new president. Progressus Therapy is a Sterling Partners portfolio company. PRESS RELEASE Progressus Therapy, a leading provider of special education solutions to school districts and communities [...]

Buyout shop Sterling Partners has put an undisclosed amount of money into Dallas-based First Choice Emergency Room, a provider of freestanding emergency rooms. Terms of the deal were not released.

Wi-Lan Inc. has no plans to sweeten its hostile takeover bid for rival Canadian patent licensing firm Mosaid Technologies after U.S. private equity firm Sterling Partners topped its $532 million offer last week, Reuters reported. Mosaid agreed to be acquired by Sterling for C$590 million ($581 million), or C$46 a share, it said late on Thursday.

Baltimore-based Remedi SeniorCare, an institutional pharmacy company, has sealed $60 million of a planned $300 million investment from New York-based Centerbridge Partners. Founding investor Sterling Partners will continue to participated in Remedi’s growth, the company said in a release. It is unclear what ownership stakes Centerbridge and Sterling now hold. Specific terms of the investment were not released.

SAP Ventures and private equity firm Sterling Partners teamed to invest $14 million in SAVO Group, the Chicago-based cloud-based sales enablement technology and consulting solutions company. SAVO Group, which counts Sterling among its investors, will see SAP Ventures’ managing director Doug Higgins will join its’ board of directors.