Technology-focused private equity firm Francisco Partners has backed NexTech, a provider of fully integrated electronic medical records, practice management, and marketing software solutions for specialty physician practices. Closing is subject to customary conditions, including Hart-Scott-Rodino clearance.
Toronto-based Fiera Axium Infrastructure has agreed to acquire for an undisclosed amount an equity interest in the solar portfolio of Recurrent Energy, a solar project developer and generating company. The portfolio comprises ten solar projects located near Barrie and London, Ontario that will have generation capacity of 108 MWp by early 2014. Fiera will acquire a 50% equity interest in eight of the projects, with Metropolitan Life Insurance Co assuming the balance. Fiera will take a 100% interest in the remaining projects.
China Resources Enterprise Ltd is set to launch a strategic review of its Hong Kong meat distribution unit, a source told Reuters, as it readies funds to bid for tycoon Li Ka-shing's ParkNShop supermarket business.
A Goldman Sachs (GS.N: Quote, Profile, Research, Stock Buzz) unit has bought a 50 percent stake in privately-held British motor insurer Hastings, in a deal that values the company at 700 million pounds ($1.13 billion), Reuters reported.
Outrigger Energy has raised $200 million from Kayne Anderson Capital Advisors. Private investor Brion G. Wise and Outrigger Energy's management also participated in the investment. Based in Denver, Colorado, Outrigger Energy is a provider of midstream services to crude oil and natural gas producers.
An investment group led by Firsthand Technology Value Fund has completed its acquisition of IntraOp Medical Corp. No financial terms were disclosed. Headquartered in Sunnyvale, Calif., IntraOp is a provider of tech-based cancer treatments.
The Canadian government said on Monday it blocked a bid from a company controlled by Egyptian telecom tycoon Naguib Sawiris to buy a fiber optic network, citing national security concerns. Manitoba Telecom Services Inc (MTS) had announced in May it would sell its Allstream fiber optic network for C$520 million to Accelero Capital Holdings, which is controlled by the Egyptian telecom magnate.
Toronto-based Laborie Medical Technologies Inc, a portfolio company of Audax Group, said Tuesday that it has completed its buy of UroMed Technology Inc. No financial terms were disclosed. Headquartered in San Ramon, California, UroMed is a provider of biofeedback and electrical stimulation medical equipment and accessories. Laborie is a maker and provider of medical testing equipment and consumables. Update: Laborie, which was acquired by U.S.-based private equity firm Audax in 2012, earlier this year purchased Life-Tech Inc of Stafford, Texas.
Tenex Capital Management said Tuesday that it has inked an agreement to buy Walter Meier Tools. No financial terms were disclosed. The transaction is expected to be completed by October 31st, 2013. Based in Nashville, Tennessee, Walter Meier Tools is the maker of machinery and equipment under the JET, Wilton and Powermatic brands.
AUA Private Equity said Tuesday that it has recapitalized its portfolio company Associated Foods. No financial terms were disclosed. Based in the New York metropolitan area, Associated is a distributor of grocery products to independent retail supermarkets.