PE Week Wire — 10/3/06

Providence Equity Partners is raising up to $10 billion for its sixth fund, according to Buyouts Magazine. Its previous fund closed in late 2004 with $4.25 billion.

Nordic Capital and Apax Partners are moving ahead with a $2.2 billion offer to acquire listed Swedish healthcare company Capio AB, even though the company's board unanimously rejected the offer last week.

Texas Pacific Group has agreed to acquire the Transfusion Therapies business of Baxter International Inc. (NYSE: BAX). The deal is valued at $540 million, and is expected to close in Q1 2007. Maverick Capital also is participating alongside TPG. The Transfusion Therapies business includes a global product portfolio of manual and automated blood-collection products and storage equipment, as well as five manufacturing facilities located in Haina, Dominican Republic; La Chatre, France; Maricao and San German, Puerto Rico; and Nabeul, Tunisia.


    VC Deals

MedServe Inc., a Houston, Texas-based provider of medical waste removal and destruction services for healthcare facilities, has raised $50 million in private equity funding from Avista Capital Partners. The capital will be used to fund national consolidation of small operators in the medical waste industry.

Cempra Pharmaceuticals Inc., a Morrisville, N.C.-based developer of anti-infectives, has closed its Series A round with $22 million. Backers include Aisling Capital, Intersouth Partners and banker I. Wistar Morris III.

PayPerPost, an Orlando, Fla.-based marketplace for advertisers to reach bloggers, videographers, photographers, podcasters and social networks, has raised $3 million in Series A funding. Inflexion Partners led the deal, and was joined by Village Ventures and Draper Fisher Jurvetson.

Saban Capital Group has launched a new venture that will develop and market family entertainment properties. Its first effort is called Hollywood Star Dogs.

Safe Lites LLC, an Eden Prairie, Minn.-based developer of electroluminescent lighting technology, has raised $1 million in Series D funding from the Weksel In*stment Group. Counsel Funding Partners advised Safe Lites on the deal.

    Buyout Deals

Caxton-Iseman Capital and Royal Palm Capital Partners have acquired American Residential Services LLC, a Memphis, Tenn.