Iris Dorbian
Waltham, Massachusetts-based Cadmus Group, a technical and strategic consultancy, has raised an undisclosed amount of funding. The investor was Enlightenment Capital.
Stone Point Capital has agreed to take a minority stake in Applied Systems, a provider of cloud-based software that powers the business of insurance. No financial terms were disclosed. According to terms of the deal, Hellman & Friedman will retain its majority ownership of Applied Systems. The transaction is expected to close in the fourth quarter of 2017. Evercore and Jefferies served as financial advisers to Applied Systems on the transaction.
In Second Opinion, Volkswagen is planning on spending $24 billion on electric cars by 2030, your next new iPhone could cost $1,000 and America marks the 16th anniversary of 9/11.
Levine Leichtman Capital Partners has acquired Portland, Oregon-based Capsa, a provider of mobile workstations, medication management products and pharmacy automation solutions for healthcare settings. No financial terms were disclosed for the transaction that was done in partnership with Capsa management. Kirkland & Ellis LLP advised LLCP on the deal.
Adviser Lincoln International has opened an office in the San Francisco Bay area. William Bowmer, managing director and co-head of Lincoln's TMT group, is leading the office.
Earthlite LLC, which is backed by Branford Castle Partners, has acquired New Berlin, Wisconsin-based Continuum Footspas LLC, a maker of pedicure chairs. No financial terms were disclosed. Akerman LLP advised Branford on the transaction while TCF Capital Funding provided financing.
Greenstone Resources LP has acquired an additional over 398 million shares in Heron Resources Limited at $21.2 million. Based in Australia, Heron is focused on discovering and developing ore bodies.
Gridiron Capital LLC has promoted Kevin Jackson to senior managing director. Jackson joined the New Canaan, Connecticut-based middle-market private equity firm in 2010 as a vice president and was promoted to managing director in 2012.
Matrix Capital Markets Group, a middle-market investment bank, has promoted Vance Saunders to managing director and principal, John J. Underwood to managing director and Carlton C. Zesch to senior analyst. And, joining the firm as analysts are Martin C. P. McElroy, Jr. and Kyle B. Tipping.
Health Velocity Capital has raised over $76 million for its inaugural fund, according to an SEC filing. The target is $150 million.