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Agilysys said on Monday that it has entered into an agreement to sell its Retail Solutions Group to an affiliate of Clearlake Capital Group, L.P. for $34.55 million in cash. The transaction is expected to close later this summer. Agilysys, which has offices in Alpharetta, GA, Cheshire, UK, Singapore and Hong Kong, is a provider of software and solutions to the hospitality and retail industries.
Altus Capital Partners said on Monday that it has closed the sale of Thermafiber, a provider of mineral wool insulation products, to Owens Corning, a producer of residential and commercial building materials. No financial terms were disclosed. BB&T Capital Markets provided financial advice to Thermafiber, which is based in Wabash, Indiana.
Wind Point Partners, a Chicago-based private equity investment firm, said on Monday that it has acquired Argotec. No financial terms were disclosed. Also, Guy Broadbent will join Argotec as CEO. Based in Greenfield, Mass., Argotec is a provider of coating and polyurethane solutions. GE Antares Capital and Ares Capital Corporation provided senior debt for the transaction.
The Sopra Group, a European provider of IT services, said that Hélène Martel-Massignac, CEO of Caravelle, a French private equity firm that backs the Sopra Group, has resigned from the company's board and as a member of its audit committee and compensation committee. Although the resignation was effective May 22, it was acknowledged in a meeting chaired on Thursday by Pierre Pasquier who heads Sopra Group's board of directors.
Mandalay Digital Group said on Thursday that it has added Jeff Karish and Rob Deutschman to its board of directors. Karish is the president of Windsor Media, a private investment company founded by Terry Semel, former CEO and chairman of Yahoo. Deutschman is vice chairman of Cappello Group, an investment banking firm. This announcement comes on the heels of Windsor Media closing a $1 million investment in Mandalay Digital common stock and warrants. Mandalay Digital is a global media and communications company headquartered in Los Angeles.
Visium Asset Management LP, a $4.5 billion hedge fund firm, said on Thursday that it is forming a new investment platform focused on healthcare royalties. The company has hired four people from Paul Capital, a private investment firm, to run the platform. They are Dr. Ken Macleod, John Leone, David Lippman and Julie Rahman. All will join Visium on June 1, 2013. The group will be based in Visium’s New York and London offices. Also, as part of Visium, they will also serve as sub-advisors to Paul Capital’s existing healthcare and royalty funds.
Tudor, Pickering, Holt & Co. said on Thursday that it has named Jose M. Amador as a managing director. In his new position, Amador will head the firm’s Latin American investment banking coverage. Amador, who will be based in TPH's Houston office, joins the company from Scotia Waterous, the oil and gas division of Scotiabank.
Commonfund Capital has named Cari B. Lodge to the newly created position of director. In her new role, Lodge will oversee the firm’s growth and management of secondaries. Prior to joining Commonfund Capital, Lodge served as director of Tulane University’s investment management office where she was responsible for private equity and private real assets investments. Commonfund Capital is a subsidiary of Commonfund, an investment manager for institutional investors.
Foundation Capital said on Thursday that it has named Harsh Patel as entrepreneur-in-residence. Prior to joining Foundation Capital, Patel served as president of Bina Technologies, a data analytics firm. Foundation Capital is a venture capital firm based in Menlo Park, Calif.
U.S. Venture Partners said on Thursday that it has expanded its team. Dr. Jacques Benkoski has been promoted to partner while Mike Maciag has been named as an executive-in-residence and Craig Parker as the firm's entrepreneur-in-residence. USVP is an early-stage venture capital firm based in Menlo Park, Calif.