Published scoops - Private Equity

Charles Watson has joined William Blair & Co. as head of Southeastern U.S. coverage for the firm’s financial sponsors group. He previously was a member of the financial sponsors group at Wachovia Securities, and ran transaction development.

PRESS RELEASE

TBA Global, a portfolio company of  J.H. Whitney & Co., has sold its U.S.-based Destination Management Services operations to Switzerland’s Kuoni Travel Holding Ltd. No financial terms were disclosed. Edgeview represented TBA on the sale.

PRESS RELEASE

Edgeview, a CIT company, is pleased to announce that the U.S.-based Destination Management Services operations of TBA Global have been sold to Kuoni Travel Holding Ltd. of Zurich, Switzerland.

Petra Solar, a South Plainfield, N.J.-based developer of power electronics for solar energy systems, has raised $40 million in second-round funding. Craton Equity Partners and Espírito Santo Ventures co-led the round, and were joined by return backers Element Partners, Blue Run Ventures, OnPoint Technologies and Kuwait’s National Technology Enterprises Company.

PRESS RELEASE

LOS ANGELES (Reuters) - The world’s largest nuclear plant builder, Areva SA (CEPFi.PA), is entering the solar power industry, with the company announcing on Monday its acquisition of U.S.-based solar thermal player Ausra.

Areva did not disclose financial details about the deal to purchase the Silicon Valley company, which had raised $130 million in venture capital from high-profile firms including Kleiner Perkins and Khosla Ventures.

NEW YORK (Reuters) - Telecommunications provider FairPoint Communications Inc on Monday filed a delayed plan of reorganization that calls for distributing millions of new shares to claim holders.

The company said in court filings that $2.1 billion in allowed pre-petition credit agreement claims could expect a recovery of about 87.9 cents on the dollar in cash and new shares, and $635.3 million of unsecured claims could expect to recover 17 cents on the dollar in the form of shares of the reorganized company.

PatientSafe Solutions, a San Diego-based provider of patient safety and workflow management solutions, has raised $30 million in new VC funding led by TPG Biotechnology Partners, according to VentureWire.

The company previously raised over $40 million, from firms that include Menlo Ventures, Psilos Group, J.F. Shea & Co., American River Ventures and Shoreline Venture Management. www.patientsafesolutions.com

Compliance11 Inc., a Chicago-based provider of regulatory compliance management solutions, has raised $6 million in Series B funding. Talon Capital Partners and KVG Partners co-led the round.

PRESS RELEASE

Compliance11™, Inc. a leading provider of regulatory compliance management solutions, announced today that it has secured a Series B round of funding for $6 million. The deal was led by Talon Capital Partners, LP in Chicago, Illinois and KVG Partners. The funding allows Compliance11 to further accelerate its rapid growth.

Essex Woodlands Health Ventures has committed up to $50 million for the formation of White Pine Medical, a growth equity acquisition platform focused on the medical device sector. White Pine will be led by Dan Lemaitre, former president and CEO of CoreValve (acquired by Medtronic in April 2009). 

PRESS RELEASE

Triton Partners, a Germany-based buyout firm focused on the European middle markets, has closed its third fund with €2.25 billion in capital commitments, according to eFinancialNews. It had been targeting €2 billion.

LONDON (Reuters) - French care home group Medica’s initial public offering was covered on Monday morning after announcing a price cut, sources close to the deal said.

Medica announced before the share market opened on Monday that it would price the IPO at 13 euros per share, below an indicated range of 16.00 and 19.50 euros each.

(Reporting by Daisy Ku; Editing by Hans Peters)