Archives for July 2012

Triangle Capital Invests in All Aboard America

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Triangle Capital Corporation announced today that it closed a $10 million investment consisting of subordinated debt and equity in All Aboard America, a regional motor coach operator.

All Aboard is a regional motor coach operator that provides commuter, charter, sightseeing, and scheduled route services in both the southwestern and southern United States. The company is based in Mesa, AZ (www.allaboardamerica.com).

Triangle Capital Corporation invests capital in established companies in the lower middle market to fund growth, changes of control and other corporate events. Triangle specializes in mezzanine financing with equity components and typically invests $5 million to $25 million per transaction in companies with annual revenues between $20 million and $200 million and EBITDAs between $3 million and $20 million. The firm is based in Raleigh, NC (www.TCAP.com).

Kohlberg & Company Acquires Aurora Casket Company

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It was announced today that Kohlberg & Company has acquired the Aurora Casket Company, a manufacturer, marketer, and distributor of funeral products. “The partnership between Aurora and Kohlberg creates a powerful force in the funeral products industry,” said Livingstone Managing Director Andy Isgrig, who heads the U.S. industrial practice. “Aurora is well positioned to continue its market share growth in the industry.”

Aurora is a manufacturer, marketer, and distributor of funeral products. The company complements its core offering of metal and hardwood caskets with a wide range of cremation caskets, urns, memorial stationary, grave markers, and other funeral supplies and services. The company is based in Aurora, IN (www.auroracasket.com).

“Over its 120-plus year history, Aurora has focused exclusively on providing the highest quality products and services to its customers,” said Aurora board member Jerry Reichert. “Aurora is excited to partner with such a well respected institution that is equally committed to funeral service and our purpose of helping to create an honorable closure to every life.”

Kohlberg & Company is a control investor in a variety of industries including manufacturing, healthcare, consumer products and service industries. Since its inception in 1987, Kohlberg has completed more than 57 platform investments and more than 112 add-on acquisitions, with aggregate transaction value in excess of $8 billion. The firm is located in Mt. Kisco, NY (www.kohlberg.com).

Livingstone Partners acted as the exclusive financial advisor to Aurora. Livingstone is an international investment banking firm focused on M&A and private capital transactions with values between $30 and $300 million. Across its offices in the US and Europe, Livingstone’s 50 corporate finance professionals specialize in five key sectors: business services; consumer; healthcare; industrial; and media & technology. Aurora represents Livingstone’s 20th closed transaction and the sixth sale to a U.S.-based private equity firm in 2012. Kohlberg joins American Securities, JZ International, Incline Equity Partners, Lindsay Goldberg, and Waveland Investments as recent private equity counterparties to Livingstone transactions. Livingstone Partners has offices in Chicago, London and Madrid (www.livingstonepartners.com).

Francisco Partners Acquires Cross Match Technologies

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Francisco Partners today announced the acquisition of Cross Match Technologies, a provider of biometric identity management systems, applications, and services. “Cross Match has a long history of innovation and has secured significant contracts with the most discerning government clients,” said Keith Geeslin, a partner at Francisco Partners. “Biometric technology is growing in importance, and Cross Match, with its strong management team and quality brand, is in an excellent position to capitalize on this growth.”

Cross Match Technologies is a provider of biometric identity management systems, applications and enabling technologies to governments, law enforcement agencies and businesses around the world. The company’s products and services are used to capture and process unique physical characteristics of individuals to establish and verify their identities. Products include multiple biometric technologies capable of wireless, mobile or stationary use that encompass fingerprint, palm and full-hand scanners, facial capture systems, iris scanning technology, document readers, biometric software, and related services. The company has more than 5,000 customers worldwide and over 250,000 products deployed in over 80 countries. Cross Match’s customers include the U.S. Department of Defense, Department of Homeland Security, U.S. State Department and various state and local governments; as well as numerous foreign governments and law enforcement agencies. It also provides biometric solutions to customers in transportation, critical infrastructure, financial services, education, and healthcare sectors. Cross Match Technologies was founded in 1996 and is based in Palm Beach Gardens, FL (www.crossmatch.com).

“There is a growing global need for biometric tools to address a range of civil, defense, and local law enforcement issues,” said Cross Match President and CEO David Buckley. “Cross Match is well-positioned through our work with governments and law enforcement organizations around the world to deliver these solutions. We look forward to working closely with Francisco Partners to further develop our technologies to meet these important market requirements.”

Francisco Partners pursues investments in technology companies with transaction values ranging from $50 million to $2 billion. Transaction structures include buyouts, divisional divestitures, recapitalizations, restructurings and growth equity financings. Francisco Partners is headquartered in San Francisco, CA (www.franciscopartners.com).

Cross Match was advised by Lazard. Hogan Lovells US acted as legal advisor to Cross Match and Kirkland & Ellis acted as legal advisor to Francisco Partners.

NewSpring Capital Invests in Aisthesis

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NewSpring Capital announced today that NewSpring Mezzanine, the dedicated mezzanine fund of NewSpring Capital has completed a mezzanine investment in Aisthesis, an anesthesia practice and management company and a portfolio company of Triton Pacific Capital Partners.

Aisthesis provides anesthesia services to ambulatory surgery centers, office-based surgery facilities, and hospitals. The company was founded in 1999 and is based in Bethesda, MD (www. aisthesispartners.com).

“We look forward to working with the management teams at Aisthesis and Triton Pacific to help them continue to grow the business. We are excited about this investment as it is geographically located right in the middle of our target market and in a space that NewSpring has some deep institutional knowledge and experience,” said Greg Barger, Partner of NewSpring Mezzanine.

NewSpring Capital is a provider of private equity capital focused in the Mid-Atlantic region. NewSpring Capital currently has $600 million of capital under management through a family of funds including: NewSpring Ventures which provides equity capital to growth and expansion stage companies with a focus on business services, enabling technologies, and information technology; NewSpring Health Capital which provides equity capital to healthcare companies within the life sciences, healthcare services, and medical device sectors; and NewSpring Mezzanine Capital which provides mezzanine capital for expansion stage and buy out opportunities in the business services, health care, information technology, and specialty manufacturing sectors. The firm has offices in Radnor, PA; Short Hills, NJ; and Washington, DC (www.newspringcapital.com).

Triton Pacific Capital Partners acquires controlling interests in profitable entrepreneurial companies. The firm seeks to partner with management of established, profitable companies that have compelling, differentiated business propositions. Triton Pacific currently maintains a controlling investment in 16 private equity companies with an enterprise value in excess of $170 million. The firm was founded in 2001 and is headquartered in Los Angeles, CA, (www.tritonpacific.com).

Markel Ventures Acquires IDRECO

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Markel Corporation announced today that its portfolio company Ellicott Dredge Enterprises, through its subsidiary Rohr International Dredge, has acquired IDRECO GmbH, a manufacturer of dredges.

IDRECO manufactures deep digging electrical suction and cutter suction dredges serving primarily the sand and gravel and mining sectors. The company is based in Heerenberg, The Netherlands (www.idreco.nl).

Rohr International Dredge manufactures automated floating clamshell and bucket ladder dredge systems for the sand and gravel and aggregates industries. The company is based in Mannheim, Germany (www.rohrbagger.de).

“IDRECO will complement Rohr’s bucketladder and clamshell dredge excavating technology, solidifying our position as the producer of deep digging dredges that operate at the lowest cost per ton in our industry,” said Heiko Osterchrist, Rohr’s Managing Director.

Ellicott Dredge Enterprises is one of the oldest dredging companies in the world and has been supplying dredging equipment to governments, municipalities, contractors, sand and gravel operators, port authorities, and marina operators for over 125 years. The company is based in Baltimore, MD (www.dredge.com).

“Having IDRECO as part of the Ellicott group will increase our footprint in the European market place, as well as fulfill our continuing corporate pursuit of new dredging technology solutions for all our customers worldwide,” said Ellicott’s President Peter Bowe.

Markel Ventures is a subsidiary of Markel Corporation, a financial holding company with insurance, industrial, and service operations serving a variety of niche markets. Markel Ventures was established to acquire majority control of companies with revenues from $25 million to $250 million and EBITDAs from $5 million to $50 million. Sectors of interest include diversified manufacturing; service and value-added distribution; consumer and industrial products; capital equipment; and healthcare. The firm is based in Glen Allen, VA (www.markelcorp.com).

Markel Ventures Acquires Tromp Bakery Equipment

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Markel Ventures announced today that its portfolio company AMF Bakery Systems has completed the acquisition of Tromp Bakery Equipment, a supplier of baking equipment. “We are excited to join forces with Tromp,” stated Ken Newsome, president of AMF. “This strategic addition enables us to leverage our position as a global leader in high-speed bread and bun bakery systems and expand our offering into the growing specialty bakery sector,” said Bas Tromp, the company’s founder, who will continue as president.

Tromp Bakery Equipment designs and manufactures sheeting lines for pizza, pastry, pie and bread bakers worldwide. The company is based in Gorinchem, the Netherlands (www.tromp.nl).

AMF Bakery Systems is a leader in industrial baking systems, specializing in pan bread and bun manufacturing equipment. AMF has manufacturing plants in Richmond, VA; Atlanta, GA; Sherbrooke, Canada; and Tianjin, China with sales offices in Leeds, UK; Singapore and Beijing. The company was founded in 1916 and is based in Richmond, VA (www.amfbakery.com).

Markel Ventures is a subsidiary of Markel Corporation, a financial holding company with insurance, industrial, and service operations serving a variety of niche markets. Markel Ventures was established to acquire majority control of companies with revenues from $25 million to $250 million and EBITDAs from $5 million to $50 million. Sectors of interest include diversified manufacturing; service and value-added distribution; consumer and industrial products; capital equipment; and healthcare. The firm is based in Glen Allen, VA (www.markelcorp.com).

“As I thought about the future of my company, I wanted to find a partner with similar values who would continue to build on our previous accomplishments. AMF, with its affiliation with Markel, is very unique, and I think this organization will best serve our customers and the people who helped build this company,” said Mr. Tromp.

Huron Exits Labstat International, Notches 6x Return

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Huron Capital has sold its interest in Labstat International through its holding company, Apex Laboratories International, in a transaction that returned over 6 times its original investment. Apex was acquired by Alaris Royalty Corp., a Canadian private investment firm, and Labstat management.

Labstat is an independent laboratory measuring chemical emissions from tobacco smoke and smokeless tobacco products, and testing for the biological impact of such products. Labstat provides chemistry and toxicology testing services to tobacco manufacturers for both regulatory and commercial purposes. Labstat facilitates the regulation of tobacco products by providing analytical testing services to governmental agencies involved in tobacco control and to market participants needing to comply with mandatory reporting requirements. The company is based in Kitchener, Ontario (www.labstat.com).

Huron’s 2006 investment in Labstat and Apex was made through its second fund, The Huron Fund II L.P., a $185 million fund closed in 2005. In 2006, Huron partnered with Dr. William Rickert (CEO) and other members of Labstat’s management team to recapitalize the business. During Huron’s hold period, the team further developed its non-regulatory business, developed several new customer relationships on a global basis, and positioned the company to capitalize on new governmental tobacco control initiatives in the United States that are driving continued growth of the business.

“Labstat was a tremendous success for Huron Capital. The investment was consistent with Huron’s focus on partnering with management teams in businesses that are leaders in their markets and positioned for growth. We are grateful for the collaboration with Dr. Rickert and his team over the last five years, and we hope to continue our track record of partnering with world-class executives and their companies in the years to come,” said Nick Barker, Vice President at Huron Capital.

Huron Capital Partners invests up to $70 million per transaction in middle market companies that have revenues up to $300 million and EBITDAs of $5 million or more. Typical transaction values are from $20 million to $200 million. Sectors of interest include niche manufacturing, distribution and business services. Since its founding in 1999, Huron has acquired or invested in 57 companies with aggregate revenues in excess of $1 billion. Investments have been made in the US and Canada in a variety of areas, including print solutions & document management, education, healthcare products & services, specialty chemicals, specialty packaging, consumer products, home décor, passenger transportation services, building products, office furniture components and laboratory testing. Huron Capital currently manages over $600 million in committed equity through three private equity funds, and has offices in Detroit and Toronto (www.huroncapital.com).

KPMG Corporate Finance advised Labstat on the transaction and Honigman, Miller, Schwartz and Cohn served as counsel.

Michelle Moreno Joins Dresner Partners as Managing Director

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Dresner Partners announced today that Michelle Moreno has joined the firm as a managing director. “Michelle has built a solid reputation in the investment banking industry,” said Steven Dresner, president of Dresner Partners. “She will be instrumental in expanding our business services offering.”

Ms. Moreno has over 25 years of investment banking experience in a range of industries, including Customer Care and Call Centers, Education, Healthcare and Behavioral Health, Human Capital Management, Marketing Services, and Prison Management. She has advised on more than 30 transactions ranging from $6 million to $2.3 billion, including mergers, acquisitions, private and public equity and debt issuances, recapitalizations, and strategic alliances. Most recently, Ms. Moreno was the head of business services investment banking at First Analysis. She has focused on advising clients in strategic and financial matters within the Outsourced Business Services and related technologies sector. Previous to First Analysis, she held positions with CIBC World Markets and Union Bank of Switzerland.

“Dresner Partners is a high-quality, client-focused firm.  Its core principals of integrity and pursuit of excellence mirror my own. I look forward to tapping into my past deal experience to help fuel the firm’s growth. I feel Dresner Partners is a great fit for me and my passion for driving value for clients in mergers and acquisitions and financings,” said Ms. Moreno.

Ms. Moreno holds a MBA from California State University and a BA in Economics and French from the University of Illinois. She also holds the Chartered Financial Analyst designation and is a member of the CFA Institute and the CFA Chicago.

Dresner Partners is a middle-market investment bank headquartered in Chicago with offices in New York, Connecticut and Los Angeles. Founded in 1991, Dresner Partners provides financial advisory services to business owners and managers, including institutional private placements of debt and equity, merger and acquisitions, valuations and strategic consulting services. Sectors of interest include consumer, food, healthcare, technology, education, financial services and industrials (www.dresnerpartners.com).

Gridiron Capital Adds Two New Operating Partners

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Gridiron Capital announced today the addition of Patrick Harlow and Jeffrey Peterson as Operating Partners. “We are excited to officially welcome Pat and Jeff to the Gridiron team. Both bring unique expertise and leadership capabilities that will be extremely valuable to our portfolio company management teams,” said Tom Burger, a Managing Partner of Gridiron Capital.

Mr. Harlow has over 30 years of executive leadership experience in the public company sector as well as private equity backed companies. During his career he has worked closely with Gridiron’s Managing Partners and successfully led the growth of private equity backed companies. Mr. Harlow was Chairman and Chief Executive Officer of Contech Construction Products from 1999 through 2008. Prior to Contech, Mr. Harlow held numerous positions within Ingersoll-Rand including Vice President and General Manager of the Rock Drill Division and Vice President and General Manager of Asia Pacific, headquartered in Hong Kong. Mr. Harlow holds a BA in Business Administration from Loyola College and a MA in Business Management from Central Michigan University.

Mr. Peterson has over 30 years of accounting and finance experience with public, private and private equity backed companies. Mr. Peterson was Chief Financial Officer and Executive Vice President of PAS Technologies (a Gridiron portfolio company) from 2008 through 2011, during which time he was a key member of the management team that was instrumental in the success of PAS. Prior to PAS, Mr. Peterson was the Chief Financial Officer of several private equity backed businesses where he was instrumental in leading the finance staffs, implementing MIS systems and managing the companies outside professional and lender relationships. Mr. Peterson holds a BS in Accounting from Brigham Young University and is a Certified Public Accountant.

Gridiron Capital invests in middle-market manufacturing, service and specialty consumer companies in the United States and Canada. The firm is based in New Canaan, CT (www.gridironcapital.com).

CI Capital Partners Acquires Total Fleet Solutions

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Capital Partners announced today that it has acquired a group of companies doing business as Total Fleet Solutions, a provider of outsourced fleet management services. “We continue to execute on our core strategy of forming partnerships with proven management teams in order to build businesses. Our acquisition of Total Fleet Solutions is another example of this strategy, and the company is an excellent addition to our current portfolio,” said Frederick Iseman, Chairman of CI Capital Partners.

Total Fleet Solutions is a provider of outsourced business services focused on the procurement, maintenance and fleet management for material handling equipment such as forklifts, order pickers, pallet trucks and aerial lifts. The company was founded in 2001 and is based in Holland, OH (www.tfsglobal.com).

“The outsourced management of forklifts and other material handling equipment is an untapped market with excellent growth potential. Total Fleet is uniquely positioned to take advantage of this opportunity,” said Tim Hall, Managing Director at CI Capital. “The company can also serve as a platform for consolidation as we look to add additional services and products.”

Prospect Capital Corporation provided a $28 million senior secured loan to support the acquisition of Total Fleet Solutions. “Prospect’s breadth and responsiveness have supported our need for a single lender financing solution for TFS, and we look forward to future business with Prospect,” said Timothy Hall, a Managing Director of CI Capital.

Prospect invests from $10 million to $75 million in private and micro-cap public businesses located in the US and Canada that have from $3 million to $30 million of EBITDA. Investment structures include: senior debt; unitranche debt; 2nd lien and mezzanine debt; and “one stop” debt and equity. The firm invests in wide array of industries and is effectively industry agnostic. Prospect Capital is located in New York, NY (www.prospectstreet.com).

“Prospect is pleased to provide financing to support the growth and recapitalization of this industry-leading company,” said David Moszer, a Managing Director of Prospect Capital.

CI Capital Partners invests from $25 million to $100 million in middle market companies in the following sectors: business services, consumer services, distribution, government services and defense, and light manufacturing. Since the firm’s inception in 1993, CI Capital and its portfolio companies have made more than 100 acquisitions representing over $6 billion in enterprise value. CI Capital’s existing portfolio consists of companies which collectively generate annual revenue of approximately $5 billion, EBITDA of approximately $400 million, and employ approximately 15,000 people. The firm is based in New York, NY (www.cicapllc.com).

“We are thrilled to complete this transaction and to become partners with CI Capital,” said Brent Parent, Chief Executive Officer of Total Fleet Solutions. “CI Capital has a strong track record of helping businesses like ours realize their growth potential and build value.”

The Riverside Company Acquires CityWatch

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Emergency Communications Network (ECN), a portfolio company of The Riverside Company, has acquired CityWatch, a provider of emergency and informational notification services, from Avtex.“This is an exciting acquisition,” said Riverside Partner Chris Jones. “It reinforces ECN’s market leadership in the government notification space, helps the company diversify into the corporate and non-profit sectors, and introduces some innovative product features from CityWatch.”

CityWatch, a division of Avtex, provides emergency and informational notification services via voice, text, and email to corporate, non-profit and government entities. The company is based in Bloomington, MN (www.citywatch.com).

Avtex, a Pohlad Family Company, is a provider of communication services that enable businesses to interact with their customers, employees, partners and prospects through communication and collaboration technologies. The company is based in Bloomington, MN (www.avtex.com ).

“We see strong potential for strengthening and expanding our customer relationships,” said ECN President David DiGiacomo. “CityWatch complements ECN very nicely, and brings a lot to the table in terms of management talent and innovation.”

Emergency Communications Network provides critical, time-sensitive communications to individuals on behalf of over 1,000 government and education clients across all 50 states. The company’s software-as-a-service products – CodeRED, CodeRED Weather Warning and CodeED – allow state and county governments, municipalities, first responders, public utilities, and school districts to deliver millions of messages annually to communicate warnings, information about natural disasters or other information to save lives, find missing children and keep citizens out of harm’s way. The company is based in Ormond Beach, FL (www.ecnetwork.com).

Riverside Operating Partner George Benson will play an active role in the carve-out and integration of CityWatch into ECN.

Working with Mr. Jones and Mr. Benson on this transaction were Vice President Martha Sciaraffo, Vice President Rob Langley, Associate Max Moehlmann and Operating Executive Tom Snyder. Regional Director, Origination Jeremy Holland sourced the deal for Riverside, and continues to pursue add-on opportunities for ECN. The transaction marks the 14th acquisition for Riverside this year.

The Riverside Company is a private equity firm focused on the smaller end of the middle market (“SEMM”). Riverside specializes in investing in SEMM companies (those valued up to $200 million) and partners with management teams to build companies through acquisitions and value-added growth. Since 1988, the firm has invested in 290 transactions with a total enterprise value of more than $6 billion. The firm is headquartered New York with additional offices in Atlanta, Chicago, Cleveland, Dallas, Los Angeles, San Francisco, and London (www.riversidecompany.com).

Kirkland & Ellis advised Riverside on the deal, and Maranon Capital provided financing.

Teachers’ Private Capital Acquires Helly Hansen

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Ontario Teachers’ Pension Plan, through its private equity investment division, Teachers’ Private Capital, today announced an agreement for the acquisition of a majority ownership stake in Helly Hansen Group, a designer and marketer of high-performance outdoor apparel. Teachers’ is acquiring approximately 75% of Helly Hansen from Altor Equity Partners, which will retain a 25% equity stake in the company.

Helly Hansen designs, develops and markets stylish and high-performance technical apparel. In 2011, the company had revenues of NOK 1,576 million (C$265 million). The company is headquartered in Oslo, Norway and has approximately 500 employees (www.hellyhansen.com).

“Helly Hansen is an iconic brand with a long heritage and a strong commitment to innovation and design. We see excellent opportunities to continue growing revenues and international awareness outside the core European markets,” said Jo Taylor, Teachers’ Private Capital Vice-President and head of Teachers’ London office. “Management has a clear and compelling vision for the business and we look forward to supporting their efforts to build a global success story.”

Teachers’ Private Capital is one of the world’s largest private equity investors, having participated as a long-term investor in numerous management buyouts in Canada, the United States and Europe. It is the private investment department of the Ontario Teachers’ Pension Plan, the largest single-profession pension plan in Canada. Teachers’ Private Capital is based in Toronto with offices in New York and London (www.teachersprivatecapital.com).

“We are pleased to have Teachers’ as a long-term owner of the company,” said Peter Sjolander, the company’s CEO. “The fund’s strong financial backing and established global footprint will be invaluable as we look to expand the Helly Hansen brand internationally, particularly in North America.”

Altor Equity Partners, located in Stockholm, Sweden, is a private equity firm with EUR 3.8 billion under management. Altor invests in medium sized companies in the Nordic region with a focus on value creation through growth initiatives, strategic development and operational improvements (www.altor.com).

Bay Grove Capital Acquires Castle & Cooke Cold Storage

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Lineage Logistics, a warehousing and logistics company and a portfolio company of Bay Grove Capital, today announced that it has acquired Castle & Cooke Cold Storage, a third-party warehousing logistics company, from Castle & Cooke.

Castle & Cooke Cold Storage (“CCCS”) operates 24 facilities totaling 112 million cubic feet located across California, Illinois, Maryland, Missouri, Georgia and Texas. The company provides cold and dry storage for a range of customers, including food and non-food producers, distributors and retailers. In addition, CCCS’s asset-light transportation logistics business provides nationwide services for product movement. The company is based in Colton, CA (www.castlecookecold.com).

CCCS’s CEO Bill Hendricksen and President Paul Hendricksen will become Lineage’s CEO and COO, respectively. “The combination of Lineage and CCCS creates a first-class franchise with significant scale, services and expertise to better serve all of our customers from coast to coast,” said Bill Hendricksen. “We are excited to join the Lineage team and to add to Lineage’s strong momentum.”

Bay Grove Capital formed Lineage Logistics in 2011 through the combination of Richmond Cold Storage, Terminal Freezers, Flint River Services, CityIce, and Seafreeze. With the acquisition of CCCS, Lineage increases its footprint to 12 million square feet and 240 million cubic feet of capacity, making it the third largest refrigerated warehouse company in North America, based on data from the International Association of Refrigerated Warehouses. The company is based in San Francisco, CA (www.lineagelogistics.com).

“Lineage combines a deep heritage of customer-centric and entrepreneurial values with significant financial resources provided by committed, long-term investors,” said Kevin Marchetti, Managing Director of Bay Grove. “This is a transformative deal that will double Lineage’s size, expand its capabilities and strengthen its customer-first culture. The acquisition firmly establishes Lineage as a leading logistics partner for customers nationwide.”

Bay Grove Capital invests from $5 million to $100 million in U.S.-based companies valued from $20 million to $500 million. Sectors of interest include cold storage/distribution/logistics; business services; consumer/retail; energy/power; dental and health care services; banking; media/entertainment; and manufacturing. The firm is based in San Francisco, CA (www.baygrovecapital.com).

Catterton Partners Invests in Baccarat

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Catterton Partners and Groupe du Louvre, a portfolio company of Starwood Capital and the majority owner of Baccarat, the luxury crystal company, today announced that shareholders of Baccarat have approved Catterton’s investment in Baccarat, and the investment has been completed.

Baccarat is a French luxury brand internationally renowned as a leader in high-end and exclusive crystal products. The brand was founded in 1764. T Baccarat is based in Paris, France (www.baccarat.com).

“We are pleased to complete this investment and look forward to working with Baccarat and Groupe de Louvre as we leverage our brand, retail, and operating expertise to accelerate Baccarat’s growth and development on an international scale. Baccarat is one of the most admired luxury brands in the world, and we look forward to supporting the company’s long-term success,” said Michael Chu, Managing Partner of Catterton.

Groupe du Louvre has three primary business activities: luxury hotel business (Concorde Hotels & Resorts); budget hotel business (Louvre Hotels Group); and crystal manufacturer (Baccarat). The company is based in Paris, France (www.groupedulouvre.com).

“We are delighted to welcome Catterton as a shareholder of Baccarat. We are confident that Catterton’s global retail and supply chain expertise and strong track-record of growing consumer companies will be a great asset in accelerating the development of the company, especially on an international scale,” said Steve Hankin, Vice Chairman of Baccarat and Managing Director at Starwood Capital.

The shareholders’ meeting also approved the appointment of two partners of Catterton, Michael Chu and Neda Daneshzadeh, as Directors of Baccarat.

Founded in 1989, Catterton Partners focuses exclusively on the consumer industry. The firm invests in all major consumer segments, including Food and Beverage, Retail and Restaurants, Consumer Products and Services, and Media and Marketing Services. The firm has more than $2.5 billion in capital under management and is located in Greenwich, CT (www.cpequity.com).

The Riverside Company Acquires The Promotional Specialists

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The Riverside Company has acquired The Promotional Specialists, a supplier of promotional products for a wide variety of brand-oriented clients, as an add-on to existing portfolio company Pareto.

Promotional Specialists focuses on promotional products for consumer promotions, trade incentive programs, product launch initiatives, direct marketing support programs, employee reward programs, and sponsorship and community events. The company is based in Toronto (www.tpscan.com).

Pareto Corporation is a shopper marketing company that provides marketing services such as in-store messaging, promotions, merchandising, and incentives in a range of industry sectors. The company is based in Toronto (www.pareto.ca).

“The Promotional Specialists bring to Pareto a diverse list of blue-chip customers in a broad array of industries,” said Partner Kristin Newhall. “The acquisition strengthens Pareto’s already impressive suite of services. TPS has a hard-won reputation for quality and outstanding service, and this combination will serve clients well.”

Working on the transaction with Ms. Newhall from Riverside were Vice President Scott Bogard, Senior Associate Mark Donnelly, Associate Alex Goins and Operating Partner David Gold.

The Riverside Company is a private equity firm focused on the smaller end of the middle market (“SEMM”). Riverside specializes in investing in SEMM companies (those valued up to $200 million) and partners with management teams to build companies through acquisitions and value-added growth. Since 1988, the firm has invested in 290 transactions with a total enterprise value of more than $6 billion. The firm is headquartered New York with additional offices in Atlanta, Chicago, Cleveland, Dallas, Los Angeles, San Francisco, and London (www.riversidecompany.com).

OMERS to Sell Fund Commitments to AXA Private Equity

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OMERS Private Equity and AXA Private Equity have signed an agreement in connection with the sale by OMERS to AXA Private Equity of a portfolio of 11 private equity fund investments and the related unfunded commitments. The portfolio of entirely buyout funds represents a total size of approximately $850 million in original commitments.”This transaction is consistent with OMERS strategic shift towards direct investing,” said Paul Renaud, Chief Executive Officer, OMERS Private Equity.

Following on from AXA Private Equity’s $1.7 billion acquisition of private equity assets from Citigroup in June 2011, and its $740 million acquisition of private equity assets from Barclays in June 2011, this latest transaction continues the firm’s secondary funds strategy to offer liquidity to large institutions looking to monetize their private equity investments.s direct investing,” said Paul Renaud, Chief Executive Officer, OMERS Private Equity.

“This is a large and significant transaction where we have excellent visibility on the assets, especially given that we are an existing investor in many of the funds,” said Benoit Verbrugghe, Senior Managing Director and Head of North America for AXA Private Equity. “Having an international team with global reach gives us excellent perspective on pricing and quality, allowing us to be opportunistic on behalf of our investors and reinforce our strategy of buying excellent quality assets.”

AXA Private Equity invests in buyout; expansion capital; venture capital; co-investments; infrastructure; mezzanine; and primary, early secondary and secondary funds of funds. The firm has assets under management of more than $28 billion. AXA Private Equity has offices in Paris, Frankfurt, London, Milan, New York, Zurich, Vienna and Singapore (www.axaprivateequity.com).

OMERS Private Equity manages the private equity activities of OMERS, one of Canada’s largest pension funds. The group’s investment strategy includes the active ownership of businesses in North America and Europe. Sectors of interest include manufacturing, financial and business services, industrial and consumer products, transportation, and technology. Investment sizes range from $100 million to $500 million. The firm is located in Toronto offices in New York and London and has $6.5 billion of investments under management (www.omerspe.com).

CHAMP Ventures Closes Fund 7 Over Target

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CHAMP Ventures, the lower mid-market arm of the CHAMP Group, has held a final closing of its seventh fund, CHAMP Ventures Investments Trust No.7 (“Fund 7”) at A$475 million, exceeding its targeted hard cap of A$450 million. The firm’s prior fund, CHAMP Ventures Investments Trust No. 6, raised in April 2006, had A$300 million in capital commitments. Fund 7 was raised in eleven months following the first close.

Twenty five per cent of funds raised were sourced from Asia, 20% from the United States and 11% from Europe and Middle East, with the remainder (44%) being raised in Australia. “We are delighted with the caliber and diversity of the limited partners in our seventh fund particularly as the competition from emerging private equity markets is growing. More than half of the fund commitments come from Asia, the US, Europe and the Middle East. This reflects both support for CHAMP Ventures and recognition of Australia’s unique position in the thriving Asia Pacific region,” said Su-Ming Wong, Chairman and CEO at CHAMP Ventures.

MVision acted as global placement agency for Fund 7. “It continues to be a challenging fund raising market, but our success with CHAMP Ventures’ new fund demonstrates that those top-tier performers with a proven long-term track record of delivering returns will continue to attract capital from major international investors,” said Niklas Amundsson, Partner of MVision.

Fund 7 will continue the approach of prior funds and invest in the Australasian lower mid-market, generally in established companies with enterprise values up to A$200 million. It will typically invest between A$20 million and A$55 million in expansion capital, replacement capital and buy-out opportunities. Fund 7 has completed two transactions already by investing in fleet management company SG Fleet and specialist safety products and equipment retailer RSEA. A third investment is expected to close before the end of July.

“Our focus is very much on partnering with business owners and management teams of privately owned companies to assist them in their next phase of growth and create value. We are working on a solid pipeline of new investment opportunities,” said Gareth Banks, Director from CHAMP Ventures.

CHAMP Ventures is part of the CHAMP Group, one of Australia’s leading private equity managers with over A$2 billion in funds under management. Recent investments by CHAMP Ventures include Lorna Jane, an Australian active wear retailer and lifestyle brand; Mastermyne, an underground coal contractor; and Amdel, a minerals laboratory testing business. The CHAMP Group has offices in Sydney and Brisbane, Australia and affiliated offices in Singapore and New York (www.champventures.com).

Mesirow Adds Two New Managing Directors, Expands Into Healthcare

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Mesirow Financial has expanded its investment banking coverage into the healthcare market through the addition of J. Andrew Cowherd and Paul Teitelbaum who join the firm in New York as new managing directors. Both bring to the firm experience in middle-market merger and acquisition advisory and financing in the healthcare sector.

“We are excited to expand our practice into the healthcare arena. The addition of Andy and Paul is a perfect complement to our existing platform, where we are consistently focused on achieving the strategic and financial goals of our clients across a variety of industries. Their middle-market advisory experience and in-depth knowledge of the healthcare sector will help us continue to elevate our clients’ experience by providing insightful advisory at the highest level of service,” said Jeffrey Golman, vice chairman and head of Mesirow Financial Investment Banking.

Mr. Cowherd joins Mesirow Financial with more than 35 years of investment banking and private equity experience, and with a healthcare specialization spanning over three decades. Prior to joining the firm, he served as a managing director at Peter J. Solomon Company with a focus on healthcare services and healthcare IT. He was previously a founding member and general partner of a private equity fund, Atlantic Medical Capital, and served as managing director at BT Securities and Salomon Brothers. Mr. Cowherd received his BA from Princeton and an MBA from Stanford.

Mr. Teitelbaum brings nearly 25 years of healthcare investment banking, company operating and consulting experience to Mesirow Financial. Prior to joining the firm, Mr. Teitelbaum served as managing director and head of healthcare investment banking at Landmark Ventures where he focused on medical device, healthcare IT and biopharmaceutical transactions. He also previously served as a senior healthcare investment banker at Burnham Securities and Nexus Health Capital, and as a senior associate at Robertson Stephens & Co. Prior to investment banking, he served in corporate development, sales and disease management roles at Wyeth-Lederle and Schering-Plough, and consulted for the FDA, EPA, DoD and Fortune 500 companies on toxicology and healthcare issues. Mr. Teitelbaum earned a BA from the University of Pennsylvania and an MBA from Wharton.

Mesirow Financial’s Investment Banking group focuses exclusively on middle-market transactions and serves established middle-market companies and large corporations, both public and private, in merger and acquisition advisory, capital markets advisory, restructuring and special situations, fairness and solvency opinion, board of directors advisory and special committee representation. Overall, Mesirow Financial is a diversified financial services firm with particular expertise in investment management, global markets, insurance services and consulting. Founded in 1937, Mesirow is an independent, employee-owned firm with more than 1,200 employees in offices across the US and in London, UK. The firm is headquartered in Chicago, IL (www.mesirowfinancial.com).