Some venture capital firms are tweaking term sheets’ language to prevent entrepreneurs from making big secondary market exits before VCs can get their cut, multiple sources tell peHUB. New restrictions turning up in term sheets include requirements that founders do not sell more than 10% of their stake via secondary transaction and, separately, that founders […]
Private equity firm GMT Communications Partners has paid 38.5 million pounds ($55.5 million) to buy conferencing and collaboration service provider MeetingZone. The firm bought MeetingZone from the company’s founders, and from investor Nova Capital Management. MeetingZone was formed in 2002.
Private equity firm Warburg Pincus has put an undisclosed amount of money into investment advisor The Mutual Fund Store. The companies said the investment would help with expansion efforts. Specific terms of the transactions were not disclosed. Kansas City-based The Mutual Fund Store was formed in 1996.
Strauss Coffee, which is backed by private equity firm TPG Capital, will pay $8 million for the “Ambassador” brands of freeze-dried instant coffee and roasted and ground coffee products owned by Sucafina Group. The coffee products are sold in Russia, Ukraine and Moldavia. In addition to the sale price, Strauss Coffee will pay $2.4 million for non-competition undertaking by the sellers, the company said in a written release. TPG Capital owns 25.1% of Strauss.
Advent International is in exclusive talks with the Savare family about buying 60% of French smartcard maker Oberthur Technologies, Reuters reported, citing news in Les Echos. The deal would reportedly value Oberthur at 1 billion euros ($1.44 billion).
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(Reuters) – Oilfield services provider C&J Energy Services Inc said it raised $333.5 million in its initial public offering of common stock. The company priced its offering of 11.5 million shares at $29 per share — higher than the $25-$28 per share range it had set earlier. The Houston-based company had told the U.S Securities […]
NEW YORK, July 28 (Reuters) – Some U.S. companies and private equity firms are hitting the pause button on deals as the U.S. debt ceiling debate turns into a cliffhanger. A U.S. credit downgrade or default if lawmakers don’t reach a deal on a deficit reduction plan would raise the cost of financing transactions and […]
Lucid Commerce, the TV targeting and measuring company, raised $8 million from a group of investors including Rho Ventures, StarVest Partners, Positec USA, OVP Venture Partners and Greycroft Partners LLC. Rho led the round. Doug McCormick, venture partner at Rho Ventures, will join the company’s board as part of the transaction.
Acorn Energy, the listed, Delaware-based energy technology company, will sell its CoaLogix Inc. to private equity firm Energy Capital Partners, a PE firm focused on energy infrastructure. Acorn initially developed the company with an investment from EnerTech Capital Partners and CoaLogix executives in 2007, when it bought SCR-Tech LLC. Merriman Capital, Inc. advised Acorn Energy in connection with the transaction.
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