Iris Dorbian
Post Oak Energy Capital and Goldman Sachs Asset Management said Tuesday that it will be investing $100 million in PetroEdge Energy III. PetroEdge's management team will co-invest in addition to Post Oak and GSAM. Headquartered in Houston, Texas, PetroEdge is a newly formed oil and gas company.
TwinFocus Capital Partners that it has named Orlando Mendoza as managing director of the company's newly established private equity advisory unit. Prior to joining TwinFocus, Mendoza was a vice president at Harvard Management Company. Based in Boston, TwinFocus Capital Partners is a global investment firm.
Abacus Finance Group said Tuesday that it has added three new members to its transaction team. Timothy Wong has been named a vice president; Eric Petersen has become an associate; and Chengyuan Zhao is now an analyst. Also, Sean McKeever, a senior vice president, has been promoted to head of underwriting and portfolio management. A New York-based specialty finance company, Abacus provides cash flow senior financing for private equity-sponsored, lower-middle market companies.
The Riverside Company said Tuesday that it has acquired Blue Microphones. No financial terms were disclosed. US Bank provided the financing for the transaction while Jones Day and Deloitte acted as advisors to Riverside. Intrepid Investment Bankers, Russ August & Kabat and Greenberg, Glusker, Fields, Claman & Machtinger served as advisors for Blue Microphones. Based in Westlake Village, Calif., Blue Microphones is a provider of microphone technology.
RackWare said Tuesday that it has named Steve Daly to its board of directors. Daly is currently president and CEO of LANDesk. Based in Santa Clara, Calif., and Wayne, Penn., RackWare, which is backed by Kickstart Seed Fund and Osage Venture Partners, is a provider of cloud solutions.
Planet Fitness, a portfolio company of TSG Consumer Partners, said Tuesday that it has made several appointments to its leadership ranks. Dorvin Lively has become the company's CFO while Richard Moore is now chief administrative officer, in addition to being executive vice president and general counsel. Also, Bonnie Monahan is corporate treasurer while Anna Arico has become corporate controller. Planet Fitness is a national health club franchise in the U.S.
According to a statement released by UK-based Hermes Global Private Equity, CEO Alan MacKay will be leaving his position. Hermes GPE said the reason for MacKay's departure is because the firm is "shifting the emphasis from an integration build-out phase to one of growth, with more distinct positioning of our private equity and infrastructure capabilities." MacKay will remain as a company shareholder while Peter Gale runs the private equity business and Peter Hofbauer continues to lead the infrastructure business.
Park Madison Partners said that it has raised $324.2 million for TriGate Property Partners II, a fund managed by TriGate Capital. Based in Dallas, Texas, TriGate Capital is a real estate private equity firm.
Symantec, a provider of security, storage and systems management solutions, has acquired PasswordBank. The transaction was valued, as reported by various news sources, for $25 million. According to Symantec spokesperson Ellen Hayes, "Symantec will use PasswordBank's expertise in single sign on technology to extend Symantec's functionality in secure sign on for web or cloud applications and further enhance its identity and context aware security, a key strategic initiative." Headquartered in Silicon Valley, PasswordBank, which was backed by Inveready, is an Identity-as-a-Service platform.
Apposite Capital said Monday that it has sold its portfolio company ZONARE Medical Systems to China-based Mindray Medical International Limited for $101.7 million. Based in Mountain View, Calif., ZONARE Medical Systems is a provider of diagnostic solutions.