New Platform

PLZ Aeroscience, a portfolio company of Olympus Partners, has acquired Assured Packaging, a custom manufacturer of aerosols. “We are excited about this add-on acquisition as it continues to leverage PLZ Aeroscience as a platform for growth in the custom aerosol packaging sector, now with a solid footing in the household and personal care market,” said Manu Bettegowda of Olympus Partners.

Assured is Canada’s leading custom manufacturer of aerosols for the health and beauty aids, pharmaceutical, food and household market categories. The company operates a 100,000 sq. ft. facility in Mississauga, Ontario and produces approximately 90,000,000 cans a year (www.assuredpackaging.com).

PLZ Aeroscience is a manufacturer and marketer of specialty aerosol products. The company formulates, blends, fills and packages more than 2,500 brand and private label products, including industrial solvents, lubricants and degreasers, adhesives, sanitary supply disinfectants, insecticides, cleaners, polishes, air fresheners, and personal care items. The company is headquartered in St. Clair, MO (www.plzaeroscience.com).

Olympus Partners with $3 billion of capital under management provides equity capital for middle market management buyouts and for companies needing capital for expansion. Sectors of interest include: business services; transportation and logistics services; healthcare manufacturing and services; financial services; consumer and restaurant; and software and IT services. The firm is based in Stamford, CT (www.olympuspartners.com).

May 15, 2012 – Superior Capital Partners announced today that it has acquired the gourmet desserts division of Heinz North America. The newly formed entity will be called Dianne’s Fine Desserts and will be led by Michael Knowles as CEO and Daniel Scales as President. This investment represents the twelfth acquisition and the fifth platform company from Superior’s 2008 first fund.

“We are extremely fortunate to be partnering with not one, but two, industry partners in this investment. Mike Knowles and Dan Scales have demonstrated track records of achieving bottom line success in many areas of the food industry and specifically in the frozen desserts category. The Dianne’s and Alden Merrell brands are known for extremely high quality and their products are served at some of the nation’s most highly regarded national chain restaurants. We are confident that with an increased focus on new product introductions and operational efficiencies, the Dianne’s platform will enjoy rapid growth in both revenue and profitability,” said Mark Carroll, Superior’s Managing Partner.

Dianne’s Fine Desserts is a provider of gourmet frozen thaw and serve desserts to the foodservice industry and in-store bakeries. The purchase includes the brands Dianne’s Fine Desserts and Alden Merrell Fine Desserts in addition to other brands including Black Tie and Skooopz. The company has approximately 500 employees and will be headquartered at its bakery in Newburyport, MA with a second bakery operation in Le Center, MN (www.diannesfinedesserts.com).

“Dianne’s Fine Desserts operates in an appealing sector of the food industry and the business offers significant growth potential. Our growth strategy will be focused on providing world class operational excellence, superior customer service and innovative products for our customers,” said Mike Knowles, CEO of Dianne’s Fine Desserts.

Superior Capital Partners invests in niche manufacturers, value-added distributors and specialty service companies with annual revenues between $10 million and $150 million. Superior will invest up to $15 million of equity per transaction to facilitate management buyouts, corporate spin-offs, recapitalizations, family successions, acquisitions out of bankruptcy and debt purchases. The firm is based in Detroit, MI (www.superiorfund.com).

“New ownership, dedicated to a single core business platform, will provide Dianne’s Fine Desserts with the focus to excel in the premium dessert sector,” says Dan Scales, President of Dianne’s Fine Desserts. “The company enjoys strong core markets and an established customer base that will benefit from our single-minded approach toward creating inspiring desserts that perfectly complement and anticipate consumers’ demands for eye-popping, memorable and delicious products.”

Avista Capital Partners announced today that it has signed an agreement to acquire Top-Co, a designer and manufacturer of specialized casing cementing products used in the drilling and completion of oil, natural gas and geothermal wells.

Top-Co designs and manufactures float equipment and mechanical cementing products, including centralizers and casing accessories primarily for use in oil and natural gas wells. Top-Co currently operates two plants: a 132,000 sq. ft. facility in Edmonton and a 41,000 sq. ft. manufacturing platform in Weatherford, TX. In addition, the company has customer service and product support centers throughout the world, including Canada, the United States, the United Arab Emirates, Russia, the Netherlands, Australia, the United Kingdom, Colombia and Mexico. The company was founded in 1963 and is headquartered in Edmonton, Alberta (www.top-co.ca).

“We are delighted about our new partnership with Top-Co. With its highly experienced management team led by Gerald McLaughlan, the company’s robust casing hardware product offering, technology-driven client focus and best-in-class testing facility, Top-Co is well positioned to continue to capitalize on several key oil and gas industry trends, including increased horizontal drilling, longer laterals, deeper wells and a greater number of frac stages per well, all of which will increase demand for the company’s products. We look forward to supporting the Top-Co team as they deliver on their long-term strategic plan, capitalize on near-term growth opportunities and continue to capture additional global market share in the casing hardware market,” said Trevor Turbidy, an Energy Industry Advisor with Avista.

Avista Capital, founded in 2005, makes control or influential minority investments in growth-oriented healthcare, energy, and media companies as well as select industrial and consumer businesses. The firm is based in New York, NY with offices in Houston, TX and London, UK (www.avistacap.com).

“Our company has systematically prepared for profitable growth in domestic and international markets, and the active participation of Avista Capital Partners will enhance our ability to execute key strategies and meet our goals. Avista’s support, international experience and energy sector expertise will be invaluable as we capitalize on attractive opportunities in our niche domestic and international markets, facilitated by the near-term commercialization of a state-of-the-art manufacturing facility in China,” said Gerald McLaughlan, CEO of Top-Co.

CIBC World Markets served as financial advisor and Burnet, Duckworth & Palmer served as legal advisor to Top-Co. Weil, Gotshal & Manges and McCarthy Tetrault both served as legal advisor to Avista.

Topspin LBO and AUA Private Equity announced today that they have invested in Brighter Dental Care, a regional dental practice management company.  Topspin and AUA partnered with the existing owner-operators of the company, brothers Scott and Todd Singer, who will continue to manage the company going forward.

Brighter Dental Care’s affiliated dental practices provide comprehensive, multi-specialty dental care from routine dental visits to the most complicated of dental procedures, including orthodontic, periodontic, endodontic and oral surgery procedures. The company operates and manages seven affiliated dental practices in New Jersey (www.brighterdental.com).
 
“This is a great addition to our portfolio. Brighter Dental has a recognizable brand name and an outstanding reputation in the New Jersey market. The company has significant growth opportunities as it opens new locations for managed practices and the right team to capitalize on them,” said Leigh Randall, Managing Director at Topspin LBO.
 
Mr. Scott Singer will run all non-clinical aspects of the business in his capacity as Chief Executive Officer and Dr. Todd Singer will run the clinical side of the company, serving as Chief Clinical Officer. “We are excited to have Topspin and AUA as our partners. Dr. Singer and I have built this company successfully over many years, and wanted to team with like-minded partners to help drive its continued growth,” said Scott Singer.
 
“Brighter Dental is a unique opportunity to partner with a well-respected management team with a proven business model, and we look forward to teaming with management and Topspin to grow it,” said David Benyaminy, Partner at AUA Private Equity Partners.       Topspin LBO makes control investments in profitable and established lower middle-market businesses. Sectors of interest include consumer products, business services, food/beverage, retail, media, niche manufacturing and security.  The firm is based in Roslyn Heights, NY (www.topspinlbo.com).
 
AUA Private Equity Partners makes equity investments in companies in the consumer, media and business services sectors with a particular focus on Hispanic-oriented companies and family-owned businesses located in the United States.  The new firm plans to invest $10 to $30 million of equity in companies that generate $3 million to $15 million in EBITDA.  AUA Equity will make control and significant minority investments in a variety of transactions and structures including: traditional leveraged buyouts; growth equity; recapitalizations; and roll-up strategies. Since 1997, AUA Equity’s principals have made over 25 private equity investments which include: Reddy Ice Group, El Pollo Loco, TRUFOODS, Two-Twenty Records Management and Brighter Dental Care. The firm is based in New York, NY (www.auaequity.com).

Summer Street Capital has announced that it has invested in New England Orthotic & Prosthetic Systems, a provider of orthotic and prosthetic devices through a network of 30 clinics in New York, Connecticut, Massachusetts, and Rhode Island. 

New England Orthotic & Prosthetic Systems (NEOPS) is a provider of orthotic and prosthetic patient care products and services. NEOPS was founded in 1998 by Ronald Manganiello who will continue to serve as NEOPS’s Chief Executive Officer.  Mr. Manganiello formed NEOPS around a business model unique within the O&P industry creating a partnership with the company’s branch manager-clinicians.  The branch manager-clinicians at NEOPS participated in the transaction economics and all will stay on and continue to own equity in the company.  NEOPS is headquartered in Branford, CT with 30 patient care clinics across 4 states (www.neops.com).

“We were strongly attracted to Ron’s track record of success over 26 years in the O&P industry and the unique NEOPS business model which emphasizes the efficient delivery of appropriate, high quality O&P patient care and rewards clinicians for their hard work,” said Summer Street Partner Barry Freeman who leads the firm’s healthcare services investment team.  “Ron has demonstrated an ability to attract and retain the best clinicians and provide them an environment and a career path that far exceeds the opportunities elsewhere in the industry.  We look forward to working with Ron and the entire NEOPS team in continuing to build on their tremendous success.”       Summer Street Capital Partners has approximately $500 million of committed capital focused on investing in small-market companies.  Equity investments typically range from $15 million to $50 million in companies with annual revenues of less than $200 million.  The investment team is complimented by a team of operating partners who are involved in assisting portfolio companies. The firm is located in Buffalo, NY (www.summerstreetcapital.com).

“Everyone within the NEOPS family is extremely excited about our new relationship with Summer Street Capital.  We believe they bring to the table the ideal mix of healthcare industry knowledge, expertise in growing middle market enterprises, and a shared vision for scaling our partnership model with leading clinicians in our markets,” said Ronald Manganiello.  “With all the flux occurring in the healthcare marketplace, NEOPS offers established clinicians an appealing combination of large company efficiencies, systems and contracts, flat organization and infrastructure, and the nimbleness and entrepreneurial spirit of an independent operation.  Our goal is to provide our clinician-partners the tools necessary to excel as valued members of the patient rehabilitative team alongside physicians, physical therapists, nurses and other key medical professionals.”

Caterpillar has announced that it has signed an agreement for Platinum Equity to acquire a 65 percent equity stake in Caterpillar Logistics Services LLC, the third party logistics division of its wholly owned subsidiary, Caterpillar Logistics Inc.  The transaction is valued at approximately $750 million. Under the terms of the agreement, Caterpillar would retain a 35 percent equity stake.

Platinum Equity Partner Jacob Kotzubei said the investment is a perfect fit for Platinum given the firm’s experience in executing carve-out transactions and operating logistics businesses.  “We have a lot of experience owning and operating businesses that provide complex supply-chain solutions,” said Mr. Kotzubei. “We know what customers expect, and we share Cat Logistics’ commitment to the highest levels of service and dependability.”

Over the past 25 years, the third party logistics business has provided logistics service to more than 50 customers worldwide in a number of different industries. As part of the agreement with Platinum, the third party logistics business will continue to provide logistics services for non Cat branded parts including FG Wilson, Perkins, Solar, as well as for Caterpillar Japan.       Platinum Equity invests in a range of industries including information technology, telecommunications, logistics, metals services, manufacturing and distribution. Platinum Equity has completed nearly 120 acquisitions with more than $27.5 billion in aggregate annual revenue at the time of acquisition. The firm is based in Beverly Hills, CA and also has offices in New York, NY and London, UK (www.platinumequity.com).

Caterpillar is the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The company also operates Caterpillar Financial Services, Caterpillar Remanufacturing Services, Caterpillar Logistics Services and Progress Rail Services. The company is headquartered in Peoria, IL (www.caterpillar.com).

Sun Capital Partners today announced that it has signed an agreement to acquire the Enterprise Wireless Communications business of Polycom, Inc. (NASDAQ: PLCM) operating under the SpectraLink and KIRK telecom brands. The transaction is valued at approximately $110 million.

“The acquisition of the SpectraLink and KIRK telecom brands highlights Sun Capital’s interest in acquiring platform businesses within the broader technology sector,” said Marc Leder, Co-Chief Executive Officer at Sun Capital Partners. “With this investment we see a tremendous opportunity to apply our deep experience in assisting management teams in building corporate carve-outs into market leaders.”

Enterprise Wireless Communications is a provider of enterprise on-site mobile communication solutions—including handsets, infrastructure, accessories and services—using Wi-Fi, DECT, and proprietary wireless networks. The company’s wireless telecommunications products are used by customers that employ non-deskbound workers, including companies in the healthcare, hospitality, retail, warehousing and manufacturing sectors. The US headquarters of the company will remain in Westminster, CO, and the European operations will continue to be based in Horsens, Denmark.

Sun Capital Partners is a private investment firm focused on leveraged buyouts, equity, debt, and other investments in market-leading companies that can benefit from its in-house operating professionals and experience. Sun Capital affiliates have invested in and managed more than 295 companies worldwide with combined sales in excess of $45 billion since Sun Capital’s inception in 1995. Sun Capital has offices in Boca Raton, FL; Los Angeles, CA; and New York, NY as well as affiliates with offices in London, Paris, Frankfurt, Luxembourg, Shanghai and Shenzhen (www.SunCapPart.com).

MEDSEEK, a provider of online patient engagement software for healthcare organizations, announced today that Silver Lake Sumeru, Essex Woodlands and MEDSEEK management have signed an agreement to acquire the company.

MEDSEEK’s software platform helps healthcare organizations attract and retain patients and improves patient experience and care through enhanced patient-doctor communication and information accessibility.  Founded in 1996, MEDSEEK has over 200 customers representing over 1,000 hospitals and includes many of the top hospital systems in the United States and Canada. The company was founded in 1996 and is based in Birmingham, AL (www.medseek.com).

“We are delighted to partner with Peter Kuhn and the MEDSEEK management team as they pursue their growth strategy.  MEDSEEK is an innovative leader in the online patient engagement sector with exceptional technology, which we will continue to develop and expand,” said Hollie Moore Haynes, Managing Director of Silver Lake Sumeru.  “To stay competitive healthcare providers increasingly will need to enhance communications between care provider and patient and provide increased access to healthcare information and services online. MEDSEEK’s solutions provide the technology platform to facilitate this next-generation online healthcare experience.”

Silver Lake Sumeru invests in middle-market technology and technology-enabled companies.  Preferred sectors include hardware, software, internet, and technology-oriented services.  The group pursues growth opportunities in the technology industry, primarily focusing on investments in which a transformative shift in business performance or market growth, or both, is the basis for value creation.  Silver Lake Sumeru’s portfolio includes or has included technology companies such as i2, Locaweb, Opera Solutions, Power-One, PrimeSense, SMART Modular, and Talend. Silver Lake Sumeru is the middle-market investment group of Silver Lake which makes private equity investments in technology and technology-enabled industries.  Silver Lake has offices in Menlo Park, New York, London, San Francisco, Hong Kong and Tokyo (www.silverlake.com).

Essex Woodlands makes investments in pharmaceuticals, biotechnology, medical devices, health care services, and health information technology sectors.  Since its founding in 1985, Essex Woodlands has been involved in the founding or capitalization of over 120 health care companies ranging across all sectors, stages and geography.  The firm has 28 senior investment professionals with offices in Palo Alto, Houston, New York and London (www.ewhv.com).

“Health systems are grappling with ways to manage Accountable Care Organizations, bundled payments and medical home programs.  These new value based purchasing initiatives need software tools that can attract patients into their programs, engage them throughout the care process and provide a platform for community based care coordination.  MEDSEEK has an ideal platform for this new era of accountability,” said Steve Wiggins, Managing Director of Essex Woodlands.

Raymond James Health Care Investment Banking Group served as exclusive financial advisor to MEDSEEK in the transaction.  Fenwick & West acted as legal counsel to MEDSEEK.  PricewaterhouseCoopers advised Silver Lake Sumeru and Essex Woodlands. Kirkland & Ellis and Perkins Coie acted as legal counsel to Silver Lake Sumeru and Essex Woodlands, respectively.

Prospect Partners today announced the management-led recapitalization of Landmark Irrigation, a provider of custom agricultural irrigation systems.  Landmark Irrigation becomes the third portfolio company of the firm’s third fund.

Landmark Irrigation designs, supplies, installs, and services agricultural irrigation systems for Central California farmers across a range of farm sizes and crop varieties. The company was founded in 1990 and is based in Madera, CA (www.landmarkirrigation.com).

Prospect Partners’ recapitalization, with two of Landmark Irrigation’s founders, paves the way for further investment in the company’s internal growth and in geographic expansion through add-on acquisitions of other irrigation system providers in California’s Central Valley and elsewhere in the western United States. Landmark Irrigation is led by Russ Spain, CEO, and Gene Blocher, President.

“We look forward to working with Prospect Partners in this next phase of our growth,” said Mr. Spain. “Landmark Irrigation sought a well-capitalized partner with specialized operational and strategic experience in helping small niche companies mature and expand. We called every reference. Each confirmed our belief that Prospect Partners is the right fit for our needs.”       Prospect Partners focuses exclusively on management-led leveraged recapitalizations and acquisitions of niche market leaders with revenues typically between $10 million and $75 million. Since 1998, Prospect Partners has invested nationwide in more than 85 companies in a range of niche manufacturing, distribution, and specialty service markets.  The firm has $470 million of capital under management and is based in Chicago, IL with an additional office in Menlo Park, CA (www.prospect-partners.com).

“Landmark Irrigation has long been a regional leader in the micro-irrigation market niche, generating consistently strong year-over-year growth as farmers see the benefits in their crop yield and irrigation efficiency after using Landmark Irrigation’s drip and micro-sprinkler systems,” said Erik Maurer, a Principal at Prospect Partners. “Landmark Irrigation’s veteran management team has spent its careers in the agricultural industry, building a company with a top reputation both for engineering expertise and high-quality irrigation systems. We are quite excited about the opportunity to partner with this exceptional team in such an interesting industry segment.”

The other portfolio companies in Prospect Partners’ $200 million third fund, Prospect Partners III, L.P., are: Prospect Water Co., a Lombard, IL-based provider of water treatment products and services through independently franchised dealers; and SurePoint Holdings of Lawrence, KS, a nationwide provider of direct-to-consumer diabetes supplies and services.

Summit Park has announced today that it has made an investment in Parkline, a modular metal buildings company. Summit Park’s investment financed the termination of Parkline’s ESOP, and will allow the company to pursue several opportunities for growth. Parkline’s senior management team is re-investing significantly in the company’s recapitalization.

Parkline is a manufacturer of highly engineered, site-erected and modular metal buildings primarily for industrial applications. Parkline’s structures are utilized for a variety of applications in the electrical utility, oil and gas transmission and distribution, wind energy, self-storage, wastewater treatment, and telecommunications industries. The company is based in Winfield, WV (www.parkline.com). Summit Park makes investments in lower middle market companies in a range of industries that have revenues between $10 and $100 million or EBITDAs between $4 and $10 million. The firm is based in Charlotte, NC (www.summitparkllc.com).

Babson Capital Management today announced that it has provided $6.0 million in mezzanine debt and made an equity co-investment of $1.5 million to support Fort Point Capital’s investment in Church Services, a provider of residential services to homeowners.  “The Babson Capital team has worked with Fort Point’s partners on investments for well over a decade, so we were pleased to renew our relationship on the Church Services recapitalization,” said Fort Point Capital Partner Brooke Ablon. “With its deep experience in middle-market financing, its responsiveness and its partner-like approach, Babson Capital was a great asset for Fort Point on this transaction.”

Church Services is a provider of residential services to homeowners, including the repair, maintenance and replacement of heating, ventilation, and air conditioning systems, electrical, plumbing, foundation repair and pest control services to the greater Houston, Dallas and Austin metropolitan areas. The company was founded in 1990 and is based in Houston with branches in Dallas and Austin (www.churchservices.com).

“Church Services is well positioned to capitalize on numerous growth opportunities, and Fort Point’s extensive knowledge of best practices across a diverse range of service industries can only improve the company’s already impressive reputation for customer service,” said Mike Klofas, Managing Director and head of the Mezzanine & Private Equity Group for Babson Capital. “Babson Capital is proud to partner with Fort Point on its investment in Church Services and we look forward to working with Brooke and his team on future investments soon.”       Fort Point Capital invests from $5 to $25 million in service-oriented, lower middle market companies across a range of sectors, including business services, healthcare, consumer, and software and information. The firm is based in Houston, TX (www.fortpointcapital.com).

Babson Capital manages about $4 billion in direct and indirect mezzanine and private equity assets and commitments and has $143 billion in assets under management as of March 31, 2012.  Babson Capital, a member of the MassMutual Financial Group, is based in Boston and Springfield, MA and Charlotte, NC.  The firm has six additional offices in the US and one in Sydney, Australia, with subsidiaries in London and Tokyo (www.BabsonCapital.com).

May 9, 2012 – Triton Pacific Capital Partners today announced that it has established and funded PharmaSync, LLC to acquire the assets of an institutional pharmacy located in Portland, OR. “For more than 30 years, PharmaSync’s predecessor was a leading institutional pharmacy serving the Pacific Northwest,” said Joe Davis, a managing partner and head of Triton Pacific’s Healthcare Services Group.

“With new leadership and growth capital, PharmaSync is positioned to build on that legacy and achieve tremendous growth.”With the acquisition, PharmaSync is now a provider of institutional pharmacy services to adult foster care, assisted living centers and other residential care facilities (www.pharma-sync.com).

“The PharmaSync acquisition continues the successful investment strategy Triton Pacific has carried out since its inception, focusing on opportunities where a combination of capital, strategic guidance and operational expertise can accelerate growth in an already well-positioned business,” said Triton Pacific’s Managing Partner Craig Faggen.

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).

May 7, 2012 – Blackland Aerospace, a portfolio company of Blackland Group, has acquired Lewis Machine Company, a manufacturer of precision-machined components.  “This is the third acquisition in fourteen months for Blackland Aerospace, reaffirming our commitment to building a leading platform in the sector.  Lewis Machine is an excellent addition to our portfolio, with 50 years of history manufacturing highly differentiated jet engine components,” said Mike George, Blackland Group’s President.

Lewis Machine Company specializes in manufacturing complex precision-machined components for clients in the commercial and military jet engine, airframe, missile and power plant industries. Lewis supplies engine components for most major U.S. fighter platforms, including the F-15, F-16, F-22 and the F-35 Joint Strike Fighter.  Lewis Machine Company also make engine components for most commercial airliners including Boeing 737, 747, 767 and 777 and Airbus A320, A330 and A380.  The company is based in Hartford, CT (no website found).

“Blackland has an excellent track record with operational improvements, dating back to the days of George Group Consulting. Using Lean Six Sigma principles to improve quality, lead time, and on-time delivery, our focus on increasing competitiveness to grow businesses will help us take Lewis Machine to the next level,” said Gary Aicher, CEO, Blackland Aerospace.

Blackland Aerospace is a platform holding company specializing in the aerospace industry with an emphasis on component manufacturing.  In addition to Lewis Machine, Blackland Aerospace owns two other component manufacturers, Kessington and Prikos & Becker. Kessington is a manufacturer of small, extremely close tolerance components used in critical aerospace applications (engines, landing gear, wheel and brake) located in Elkhart, IN (www.kessington.com).  Prikos & Becker is a manufacturer specializing in intricate assemblies requiring metal fabrications (stamping, forming, laser cutting, machining, spot welding and laser welding), with a particular expertise in manufacturing landing gear heat shields. Prikos & Becker is based in Skokie, IL (no website found).

Blackland Group makes control investments of $3 million to $20 million in lower middle market, under-performing, and mature companies that have annual revenues between $10 million and $50 million and minimum EBITDAs of $2 million.  Sectors of interest include aerospace, defense and differentiated niche manufacturers. The firm is based in Dallas, TX (www.blacklandgroup.com).

Lewis Machine was represented by Lyons Solutions, a middle market investment bank with offices in North Port, FL and Simsbury, CT (www.lyonssolutions.com).

May 8, 2012 – BB&T Capital Partners, through its second mezzanine fund, has invested subordinated debt to support the acquisition of SeraCare Life Sciences by Linden Capital Partners.

SeraCare serves the life sciences industry by providing products and services to facilitate the discovery, development and production of human diagnostics and therapeutics. The company’s portfolio includes diagnostic controls, plasma-derived reagents and molecular biomarkers, biobanking and contract research services. The company is based in Milford, MA (www.seracare.com).

BB&T Capital Partners manages over $725 million in committed capital across three fund strategies which are all focused on the middle market. The firm makes direct equity investments in control transactions of privately-held companies; provides subordinated debt or mezzanine capital in support of transactions led by financial sponsors and others; and invests in other private equity funds. The firm was founded in 1998 and is based in Winston-Salem, NC (www.bbtcp.com).

Linden Capital Partners is focused exclusively on leveraged buyouts in the healthcare and life science industries. Linden’s strategy is based upon four elements: specialization on middle market healthcare and life science companies; integrated private equity and operating expertise; customized value creation programs for each portfolio company; and strategic relationships with large corporations.  The firm is located in Chicago, IL (www.lindenllc.com).

May 4, 2012 – JPMorgan Chase has agreed to make a $25 million minority investment in Code Advisors, an investment bank based in San Francisco.  Jes Staley, CEO of J.P. Morgan’s Investment Bank and a member of the firm’s Operating Committee, will act as a non-voting observer at Code’s Advisory and Investor Board meetings.

“We are thrilled that JPMorgan Chase has decided to invest in Code Advisors,” said co-founder Quincy Smith. “This transaction demonstrates how together we might energetically adjust to serve the new needs of entrepreneurs and companies. The chance to work more closely with Jes and his team gives us awesome global and experienced perspectives.”

Code Advisors provides advisory and financing services on mergers and acquisitions, private equity raises, equity underwritings and investments in companies focused in emerging technology and media. The firm was co-founded by Michael Marquez, Fred Davis and Quincy Smith. Code Advisors is based in San Francisco, CA (www.codeadvisors.com).

“Identifying and supporting great ideas early in their development is particularly important in the technology space,” said Mr. Staley. “Code continues to uniquely identify next generation companies, and together we are excited to help those entrepreneurs grow and expand their businesses.”

April 30, 2012 – Newtek Business Services (dba “The Small Business Authority”) announced today that it has signed an agreement and simultaneously received $10 million in mezzanine debt from a group of lenders led by Summit Partners.  “We are very happy about our new relationship with Summit Partners as an established major investor of equity and debt capital for growth businesses. We plan on using this additional liquidity primarily to build our fast-growing small business lending platform, and also provide working capital to enhance and grow our “Small Business Authority” brand of business services with emphasis on expanding our offerings of cloud computing solutions,” said Barry Sloane, Chairman, President and CEO of Newtek.

Based on conditions that Newtek expects will occur, the company will be able to draw an additional $5 million within six months from the initial closing date. The financing will be used to support Newtek’s continued growth and provide working capital necessary to expand its product offerings.

“The Small Business Authority provides a full suite of high-quality business and financial services that help entrepreneurs increase revenues, reduce expenses, and minimize risks. We are pleased to partner with Newtek Business Services and support Barry and his team’s efforts to enhance and expand this robust platform,” said Gregg Nardone, Managing Director of Summit Partners’ credit affiliate, Summit Partners Credit Advisors.

Newtek Business Services is a distributor of a range of business services and financial products to the small- and medium-sized business market under the Newtek brand.  The company provides the following products and services: electronic payment processing; managed technology solutions (cloud computing); ecommerce; business lending; insurance services; web services; data back-up, storage and retrieval; accounts receivable financing; and payroll processing.  The company was founded in 1999 and is based in New York, NY (www.thesba.com).

Summit Partners provides private equity and venture capital for growth companies. Founded in 1984, Summit has raised more than $14 billion in capital and has provided equity, recapitalization, and management buyout financing to more than 300 companies across a range of industries. Summit Partners has offices in Boston, MA; Palo Alto, CA; London, UK; and Mumbai, India (www.summitpartners.com).