PE Week Wire — Friday 9/6

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Terion Inc., a leading provider of trailer monitoring systems announced that its reorganization became effective on August 30, 2002. Terion’s investor group has supported the reorganization and has funded the company with an additional $10.8 million. Terion has restructured its business to focus on the FleetView product. Its successful restructuring efforts included funding from existing and new investors. Investors include SCP Private Equity Partners II LP, HVFM-II LP in which Harris Corporation is the major investor, Crossbow Ventures, and ING Capital LLC.

CellzDirect Inc., a privately held cell bioscience company, today announced the completion of a private placement financing of $3.4 million. Led by an investment from Solstice Capital, the Company was able to achieve its first institutional round of investment with a strong group of co-investors including Technology Funding, Tucson Ventures, Village Ventures and the Desert Angels. The funds will be used to commercialize the Company’s cell products and support the sales and marketing efforts to create a global identity.

St Paul Pioneer Press is reporting that the Trustees of the State of Wisconsin Investment Board approved investing as much as $100 million more of its assets in private technology and biotechnology firms in Wisconsin and the rest of the Midwest. At least half of the $100 million approved Wednesday is to be dedicated to companies with headquarters or operations in Wisconsin.

The Irish Times is reporting that Cork-based mobile technology company, Comnitel, has raised E10 million in its third round of financing. The funding has been provided by a group including Enterprise Ireland, UK-based HgCapital, German-based Hamburgische Landesbank and US-based SAIC Venture Capital Corp.

Duke Street Capital has acquired UK health club operator Invicta Leisure for 140 million pounds (approx: $219 million).

Refractec Inc., the company that pioneered the recently approved CK (Conductive Keratoplasty) procedure for farsightedness (hyperopia), today announced that it has secured additional funding to expand the successful launch of its ophthalmic device in the U.S. market. Lead investors in the preferred stock round are THLee, Putnam Capital Management, LLC (Boston, Mass.), and The Entrepreneurs’ Funds of R.B. Webber & Company (Mountain View, Calif.). This latest round of funding follows two earlier investments led by Brentwood Venture Capital (Menlo Park, Calif.) and Delphi Ventures, Inc. (Menlo Park, Calif.) respectively.
News From Thursday 9/5
PacketPointe Technologies Inc. today announced that it has closed the sale of shares of its Series B Preferred Stock to four investor groups including Salt Lake City-based vSpring SBIC LP and Peterson Capital I LLC; Renton, Washington-based Promethius Venture Fund I LLC, an affiliate of Reed Wasden & Associates LLC; and Everest Summit LLC, an affiliate of the company’s new President and Chief Executive Officer, Paul V. Fischer.

Intel Corp. and investment firms Vector Capital and vSpring Capital announced that Intel’s Software Products & Services Division, the business unit that produces Intel’s LANDesk