Iris Dorbian
Trimble, a provider of construction technology, said on Tuesday that it has it has acquired Trade Service Company, LLC, from the GF Capital Private Equity Fund, LP and senior management. No financial terms were disclosed. Based in San Diego, Calif., Trade Service is a provider of products for the architecture, engineering, and construction industries.
Praesidian Capital, a provider of senior and subordinated debt for small and mid-sized businesses, said on Tuesday that it has successfully exited $7.6 million in senior notes in K1 Speed. . Based in Irvine, Calif., K1 Speed is a provider of indoor go-kart racing tracks. Praesidian made its initial investment in September 2011 to fund K1’s expansion strategy.
IBM said on Tuesday that it has entered an agreement to acquire SoftLayer Technologies, a portfolio company of GI Partners. No financial terms were disclosed. The transaction is expected to close in the third quarter of 2013. Based in Dallas, TX, SoftLayer Technologies is a provider of cloud computing infrastructure.
TYRX said on Tuesday that it has received a private investment from the California-based MemorialCare Innovation Fund. No financial terms were disclosed. Based in Monmouth Junction, NJ, TYRX is a provider of implantable medical devices designed to help reduce infections associated with implantable devices, such as pacemakers and defibrillators. MCIF is a strategic investment company owned by MemorialCare Health System.
American Surgical Assistants, a Houston, TX-based provider of outsourced surgical assistant services, said on Tuesday that it has named Tom Kirk as CEO, effective June 3rd, 2013. Kirk succeeds Zak Elgamal, American Surgical’s co-founder and president, who has served as CEO since ASA was founded in 1999. Elgamal will remain on ASA's board of directors. American Surgical Assistants is a portfolio company of Great Point Partners.
Wochit, a New York-based provider of videos for various outlets, said on Tuesday that it has named Keith McAllister as CEO. Prior to his joining Wochit, McAllister was general manager of global consumer media for Thomson Reuters. Wochit is backed by Redpoint Ventures, Cedar Fund and Greycroft Partners.
The Gores Group, a global investment firm, and France Telecom-Orange, a worldwide telecom operator, said on on Monday that The Gores Group has completed the acquisition of Etrali, Orange Business Services – Trading Solutions, a subsidiary of France Telecom Orange. No financial terms were disclosed. As a result of the transaction, Etrali, Orange Business Services – Trading Solutions will be renamed Etrali Trading Solutions. Headquartered in Paris, France, Etrali Trading Solutions is a provider of convergent voice and electronic trading services for the financial communities.
Toronto-based specialty finance firm Wellington Financial LP recently closed US$12 million in venture debt financing for an on-demand software company located in California. Also, Wellington recently closed US$3.5 million in venture debt financing for an East Coast-based SaaS provider of global payroll management solutions. The two companies, which were not identified by Wellington, are backed by U.S.-based venture capital firms.
SunTx Capital Partners said on Monday that it has launched IXTHYS Capital Management, LLC, a new hedge fund. Although IXTHYS will be based at SunTx’s Dallas office, SunTx Capital Partners says the hedge fund will be managed separately from the company's private equity funds. SunTx’s founding partners have already made contributions to the fund. Ron Dodson will serve as the hedge fund's portfolio manager.
The Emerging Markets Private Equity Association said on Monday that it has named Robert W. van Zwieten to be the organization’s next president and CEO. Most recently, van Zwieten served as director of private sector capital markets at the Asian Development Bank in Manila, Philippines. Based in Washington, D.C., EMPEA is a global organization with approximately 320 member firms representing over $1 trillion in assets under management.