PA SERS copes with sudden death of PE official

Veteran limited partner Michael Beblo, 62, director of alternative investments at the Pennsylvania State Employees’ Retirement System, died after heart surgery on August 2, a spokeswoman for the pension system confirmed.


Formation 8 Hardware Fund leads $7 mln funding in Augury

Formation 8 Hardware Fund led a $7 million Series A funding round in Augury, a predictive machine diagnostics company. Other investors in the funding include Pritzker Group Venture Capital, as well as existing investors First Round Capital and Lerer Hippeau Ventures.


Providence to sell IRONMAN after seven-year hold

Chinese conglomerate Dalian Wanda Group has agreed to acquire endurance race event brand IRONMAN from Providence Equity Partners for an equity value of about $650 million. Wanda Group will assume IRONMAN’s existing debt. Providence held the business for seven years.

TCP Venture Capital leads $5.7 mln funding in Link Labs

TCP Venture Capital led a $5.7 million funding round in Link Labs, which develops low-power, wide-area network technologies for the Internet of Things. Other investors in the funding include Maryland Venture Fund, Blu Venture Investors as well as individual and existing investors.


Blumberg, RPM Ventures lead $6 mln funding in Able

Blumberg Capital and RPM Ventures led a $6 million Series A funding round in Able, which provides loans and connects small businesses into a network of borrowers. Other investors in the funding include Peterson Partners and Expansion Ventures AngelList Syndicate.


Audax, Moelis complete sale of Quest Construction Products

Audax Private Equity and Moelis Capital Partners have completed the sale of Quest Construction Products, the remaining division of Quest Specialty Chemicals, Inc., to Building Materials Corporation of America. With the sale, Audax and Moelis have fully exited their investments in Quest.


North Bridge leads $25 mln investment in Spoonflower

North Bridge Growth Equity led a $25 million investment in Spoonflower, which provides on-demand digital printing of custom fabric, wallpaper and gift wrapping. Bull City Venture Partners participated in the investment. North Bridge Partners Russ Pyle and Holly Maloney, along with David Jones from Bull City, will join Spoonflower’s board.

Aequitas Capital expands capital markets capabilities with two hires

Aequitas Capital has expanded its capital markets team. The firm hired Jeff Mazer, a former Bank of America Merrill Lynch executive, as senior managing director of capital markets and treasury. He will be responsible for managing the firm’s portfolio of investment offerings, executing senior and junior debt and credit strategies and working as an advisor to executive management. The firm also brought on Katya Baron as a managing director of capital markets. Baron previously worked at Sterne Agee, Gleacher, Barclays Capital and J.P. Morgan Securities.


Investor group buys LP stakes in Palamon funds, commits new capital

Adams Street Partners, Goldman Sachs, Morgan Stanley, PGGM and the Rothschild Merchant Banking Group bought LP stakes in Palamon European Equity Funds I and II as part of a tender offer process. The investor group also committed new capital into a vehicle that will invest alongside Palamon Auxiliary Partnership 2013. Credit Suisse ran the process. The two newer vehicles have committed to the purchase of Currencies Direct in partnership with Corsair Capital.


DynoSense raises $9.4 mln in Series A funding

DynoSense, which develops health scanner technology, closed a $9.4 million Series A funding round with participation from WI Harper Group, JKOM Cloud Health Technology Co; Plug and Play Tech Center; Jinmao Capital; and Wilson, Sonsini, Goodrich and Rosati. The company is working toward a submission to the U.S. Food and Drug Administration for regulatory clearance of its technology.

EnCap, along with management, commits $300 mln to Evolution Midstream

EnCap Flatrock Midstream committed $300 million to Evolution Midstream, along with Evolution management. Evolution, formed in July, focuses on greenfield and strategic acquisitions in the Rocky Mountains, Bakken Shale, Permian Basin, Mid-Continent and Appalachia. The company offers services like natural gas gathering, processing, treating and compression; crude oil gathering, transportation and marketing, freshwater delivery and produced water disposal, among others.


Levine Leichtman acquires Regional Rail

Levine Leichtman Capital Partners has completed the acquisition of Regional Rail, an operator of short line railroads and rail-related businesses in the U.S. Levine Leichtman partnered with management on the acquisition. The company is the fifth investment from Levine Leichtman Capital Partners SBIC Fund.

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