Mereo BioPharma raises $119 mln

Mereo BioPharma Group Ltd. said Wednesday that it raised $119 million from Woodford Investment Management and Invesco Perpetual. Mereo also acquired a portfolio of three clinical-stage development programmes from Novartis Pharmaceuticals, which will also hold an equity stake in Mereo. London-based Mereo is a recently-formed speciality biopharmaceutical company.

LBC Credit’s $97 mln loan backs Escort merger with Cobra Electronics

LBC Credit Partners said Tuesday it provided a $97 million loan to support the merger of Escort Inc. with Cobra Electronics Corp. Both companies are backed by Monomoy Capital Partners. The companies will operate under a new holding company structure with Cedar Electronics Holdings Corp. as their parent. Proceeds from the loan were used to refinance debt, fund a distribution to shareholders and pay related fees and expenses.


Great Hill to buy Reward Gateway

Great Hill Partners LP has agreed to buy Reward Gateway. The seller is Inflexion Private Equity. The deal values Reward Gateway at 140 million pounds (US$218.9 mln). London-based Reward Gateway provides products and technology for HR departments.


Elliot joins Kainos Capital

Kainos Capital said Wednesday that Kevin Elliott has joined the firm as a Partner. Elliott most recently was President and COO of Nash Finch Inc. before Nash’s sale to Spartan Stores Inc. in 2013. Dallas-based Kainos, a private equity firm, is focused on investing in food and consumer businesses.


Warburg Pincus acquires Universal Services of America

Warburg Pincus said Tuesday that it closed its majority investment in Universal Services of America. Financial terms weren’t announced. Partners Group was the seller. Santa Ana, California-based Universal Services provides security services. Baird advised Partners Group.


Kinderhook buys Collision Diagnostic Services

Kinderhook Industries LLC said Tuesday that it acquired the operating assets of Collision Diagnostic Services. AES Technologies LLC and Automotive Electronic Solution Providers LLC were the sellers. Financial terms weren’t announced. The acquisition was part of a sale process under Section 363 of the U. S. Bankruptcy Code. Collision Diagnostic provides remote diagnostic solutions and services to the collision industry.

SAIC Technologies leads investment round for SDCmaterials

SAIC Technologies Fund I LLC, the venture capital investment arm of SAIC Motor Corp., has led an investment round for SDCmaterials Inc. Financial terms weren’t announced. Existing investors, including General Motors Ventures, BASF Venture Capital, Volvo Group Venture Capital, Invus Financial Advisors and Emerald Technology Ventures, also participated. Tempe, Arizona-based SDCmaterials develops and commercializes high value advanced catalyst materials.


Ireland Strategic Investment Fund and KKR launch Activate Capital

The Ireland Strategic Investment Fund along with KKR Credit have launched a 500 million Euro(US$551.6 mln) joint venture. The ISIF is contributing €325 million Euros (US$358.6 mln) towards the joint venture while KKR is providing the remaining 175 million Euros (US$193.1 mln). The J.V., called Activate Capital, will focus exclusively on lending to Irish residential development projects. Robert Gallagher, a KKR Director, will be CEO of Activate while Dan O’Connor will be chairman. O’Connor is the former President and Chief Executive Officer of GE Consumer Finance – Europe.

LaSalle joins Point B

Point B Inc. said Tuesday it has named Peter LaSalle VP of Business Development. LaSalle has previously worked at Oracle and PeopleSoft.


Deliveroo raises $70 mln

Deliveroo said Tuesday it raised $70 million in a Series C round led by Greenoaks Capital and Index Ventures. Existing investors Accel and Hoxton Ventures also participated. London-based Deliveroo is on-demand delivery service for high-quality restaurant meals.

Cyprium Partners invests in Weaber Inc.

Cyprium Partners said Monday it made a preferred equity and subordinated debt investment in Weaber Inc. Cyprium’s minority investment supports the acquisition of Weaber by its President and CEO Matthew Weaber. Financial terms weren’t announced. Lebanon, Pennsylvania-based Weaber provides finished hardwood lumber products.

Peacock Engineering closes L&L Foods buy

Peacock Engineering Co., a portfolio company of Charlesbank Capital Partners, said Monday it completed its buy of L&L Foods. CIC Partners was the seller Financial terms weren’t announced. Anaheim, California-based L&L provides high-volume, single-serve/portion-control packages of food products.

Community Intervention Services buys Futures Behavior Therapy Center

Community Intervention Services Inc., a portfolio company of H.I.G. Growth Partners, has acquired Futures Behavior Therapy Center LLC. Financial terms weren’t announced. Beverly, Massachusetts-based Futures provides treatment and education services for children with ASDs and other developmental disabilities.


Blackstone names Chae its CFO

The Blackstone Group said in a July 24 SEC filing that Michael Chae was named CFO. He will replace Laurence Tosi, who has reportedly joined Airbnb Inc. Chae, at Blackstone, has headed media and telecom and international activities in Private Equity and was Head of Asia for the firm. Additionally, Blackstone said it promoted Joan Solotar to Head of Multi-Asset Investing and External Relations.


Envision Ventures raises $100 mln VC evergreen fund

Envision Ventures said Monday it closed a $100 million venture capital evergreen fund formed in partnership with Managing Partner Dan Ahn. Mountain View, California-based Envision will invest in software companies in Big Data, Security and Internet of Things. Investments will range between a few hundred thousand dollars up to $10 million.


MidOcean to exit Noranco

MidOcean Partners said Monday that it has agreed to sell Noranco Inc. to Precision Castparts Corp. PSP Investments is also a seller. The deal is valued at $560 million, Precision Castparts said in a separate statement. Noranco supplies complex machined and fabricated components for aero-engine, landing gear and airframe applications. Lazard advised Noranco.

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