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Iris Dorbian

Milestone Partners said on Tuesday that last month it completed its sale of Mariner Finance to an unidentified investment group. No financial terms were disclosed although the company did reveal that the transaction generated a return five times in excess of Milestone's invested capital. Stephens, Inc. and Janney Montgomery Scott LLC served as financial advisors for Milestone for the transaction. Based in Baltimore, Maryland, Mariner provides consumer loans in seven states from New York to Tennessee.
FundersClub, an online venture capital firm, said on Tuesday that it has closed $1.1 million for its first fund dedicated to startup incubator and accelerator programs. According to FundersClub, a member of the National Venture Capital Association, 86 investors participated in the fund. Among the companies, which were selected by Y Combinator, a backer of FundersClub, to benefit from the funding, were CircuitLab, Goldbely, Medisas, Meldium, Padlet, Prizeo and Thalmic Labs. In addition to Y Combinator, FundersClub is also backed by First Round Capital, Spark Capital, Intel Capital, Andreessen Horowitz, Felicis Ventures, SV Angel, Tim Draper and others.
Iconix Brand Group said on Tuesday that it plans to offer $250 million in senior secured notes to institutional buyers. Proceeds will be used for "general corporate purposes." Headquartered in New York, Iconix Brand Group is the owner of a number of fashion and home brands that include Candies, Badgley Mischka, Danskin, Royal Velvet, Sharper Image and Ed Hardy.
HGGC said on Tuesday that it has completed an investment in MyWebGrocer. No financial terms were disclosed. Also, as part of this transaction, the Stripes Group, a minority investor in MyWebGrocer, has sold its stake. The Jordan Edmiston Group served as financial advisor to both MyWebGrocer and Stripes Group. Based in Winooski, Vermont, MyWebGrocer is a provider of digital marketing solutions for grocery stores and consumer packaged goods companies.
ACON Latin America Opportunities Fund, a private equity investment fund managed by ACON Investments, L.L.C, said today that it has exited from its investment in InverCap Holdings. No financial terms were disclosed. InverCap Holdings owns the largest independent pension fund manager in Mexico.
Prospira PainCare, a portfolio company of Pulse Equity Partners, said on Tuesday that it has acquired The Pain Management Center. No financial terms were disclosed. Based in Hamilton, New Jersey, The Pain Management Center is a pain treatment center serving southern New Jersey and the Philadelphia metropolitan area.
California investment firm StoneCalibre said on Monday that it has acquired Source Technologies from Liberty Partners. No financial terms were disclosed. Based in Charlotte, North Carolina, Source Technologies is a provider of laser printers, software and accessories for the banking sector. Berkery Noyes acted as the financial advisor to Source Technologies for this transaction.
Avondale Partners, a Nashville-based independent investment banking and wealth management firm, said on Monday it is expanding to New York City. Leading the new office will be John Cuddeback from BMO Capital Markets and Dana Lambert from Royce & Associates.
Velocity Technology Solutions, a portfolio company of Silver Lake Sumeru, has closed its buy of  iXtend, an Oracle managed services provider. No financial terms were disclosed. IXtend is based in Denver, Colorado.
Medical Specialties Distributors, a portfolio company of Water Street Healthcare Partners, said on Monday that it has acquired Medical Technology Resources. No financial terms were disclosed. Headquartered in Columbus, Ohio, MTR is a provider of infusion pumps and related products.

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