November 13, 2013 @ 7:54 am

Beringea Portfolio Company Espresso Group Ltd. Sold to Discovery Communications Inc.

FARMINGTON HILLS, Mich. – Beringea, LLC, a private equity firm providing growth capital to market-leading businesses, has announced Beringea LLP of London, UK, has sold its portfolio company Espresso Group Limited to Discovery Communications Inc. The financial terms of the transaction were not disclosed.

 

The exit is the sixth this year for the private equity group, which includes Beringea, LLC and Beringea LLP.

 

Established in 1997, Espresso Education is the UK market leader in high quality, video-rich, digital curriculum content provision in the UK, supplying almost 50 percent of UK primary schools with its services. The service is delivered in almost 11,500 schools. The company specializes in taking educational concepts and applying a “real world” context to support understanding through a combination of video and multimedia resources.

 

Beringea LLP’s Stuart Veale commented: “In the time we have been invested in Espresso we have seen the business grow into a clear market leader serving nearly 50 percent of UK primary schools.”

 

Lewis Bronze, co-founder of Espresso Education commented: “We have received excellent support and encouragement from Beringea over the period of their investment in Espresso. We are now looking forward to working with Discovery Education on the next stage of growth for the company.”

 

# # #

About Beringea
Beringea, LLC provides equity and/or mezzanine debt to small- and-middle market companies. Founded in 1988, the Firm is headquartered in Farmington Hills, Michigan.  Beringea, LLC’s office in London, UK operates as Beringea LLP. Beringea invests in portfolio companies operating in a range of sectors, including health care, clean technology, advanced manufacturing, media, Internet technologies and specialized consumer products. With flexible capital solutions, extensive investing experience and offices in the U.S. and UK, Beringea’s team offers its portfolio companies the resources to grow their businesses and create value for shareholders. For more information, visit www.beringea.com.

 

Filed under MEMBER NEWS, Member Press Release, news, newsfeature · No Comments »

October 22, 2013 @ 8:28 am

Beringea Announces Recent Exits

This year has proved to be very active for Beringea. The private equity group, which provides equity and/or mezzanine debt to small- and-middle market companies, has exited five companies. Details on the transactions can be found below.

 

The Firm, which includes Michigan-based Beringea, LLC and its London, UK office (Beringea LLP), invests in portfolio companies operating in a range of sectors, including health care, clean technology, advanced manufacturing, media, Internet technologies and specialized consumer products. With flexible capital solutions, extensive investing experience and offices in the U.S. and UK, Beringea’s team offers its portfolio companies the resources to grow their businesses and create value for shareholders.

 

For more information on the Firm’s investment strategy, visit www.beringea.com or  download the firm overview.

 

In September, Livio Radio, a Ferndale, Mich.-based developer of software tools to support in-vehicle connectivity solutions, was acquired by Ford Motor Co. (NYSE: F). Beringea, LLC’s fund first invested in Livio in June 2010.

 

In August, Relume Technologies, an Oxford, Mich.-based manufacturer of outdoor LED products and smart grid control systems for outdoor lighting applications, was acquired by Revolution Lighting Technologies, Inc. (NASDAQ: RVLT), a leader in advanced LED lighting technology. Beringea, LLC’s fund first invested in Relume in December 2009.

 

In June, Pioneer® Surgical Technology, a Marquette, Mich.-based company that manufactures and distributes metal and synthetic products in the orthopedics, biologics, spine, trauma and cardiothoracic markets, was acquired by RTI Biologics Inc. (NASDAQ: RTIX), a leading provider of orthopedic and other biologic implants. Beringea, LLC’s fund first invested in Pioneer in 2008. Under the terms of the merger agreement, RTI paid $130 million in cash to acquire all the outstanding stock of Pioneer.

 

In May, Beringea, LLP exited its investment in Fjord, a market-leading international service design consultancy based in London, UK. The company was sold to Accenture. Beringea, LLP first invested in Fjord in December 2008.

 

In April, Beringea LLP exited its investment in London, UK-based restaurant chain Tossed. Beringea, LLP first invested in Tossed in April 2010.

Filed under MEMBER NEWS, Member Press Release, news, newsfeature · No Comments »

September 24, 2013 @ 3:55 am

EDF Ventures Announces Portfolio Exit

Arxan Technologies, Inc., an EDF Ventures portfolio company in the software security sector was sold to TA Associates, a leading global growth private equity firm.  Terms of the transaction were not disclosed.

 

Arxan is another example of EDF’s strategy of investing in early-stage companies formed around technology developed  at universities.  Arxan’s  technology was  spun out of Purdue University’s world renowned CERIAS Institute:  Center for Education and Research in Information Assurance and Security.

 

 

Filed under MEMBER NEWS, news, newsfeature · No Comments »

June 27, 2013 @ 4:53 pm

Beringea Invests In Wood Processor And Recycler Fiber By-Products Corporation

Beringea, LLC, a private equity firm providing growth capital to market-leading businesses, has led a recapitalization of White Pigeon, Mich.-based Fiber By-Products Corporation (FBP), a processor, recycler, and manufacturer of wood products. Beringea’s investment will enable FBP management to pursue an expansion of the company’s footprint and operating capacity.

 

FBP is a leading recycler of wood waste generated from a variety of end-product markets. The company provides wood waste producers a cost-effective and environmentally-friendly solution to disposing of their waste. FBP then processes it into consumable products, including animal bedding, boiler fuel, wood mulch and premium wood pellets used to heat homes and businesses.

 

“Fiber By-Products is a leading manufacturer of wood pellets in the Midwest region. Given that this form of heating fuel is environmentally friendly as well as a cost efficient alternative to fossil fuels such as heating oil or propane, the market is steadily growing and the company is seeing increased demand for its product. Fiber By-Products is a Michigan clean technology company that offers consumers a truly sustainable source of fuel.  We’re pleased to support them in their next phase of growth,” said David Ruby, principal at Beringea.

 

FBP was founded in 1992 by the late Dale D. Schrock with his wife Barbara on their family farm in Goshen, Indiana. His four sons currently manage the business; Chad Schrock, CEO of the company said “the family feels very blessed to see our father’s years of hard work and risk pay off. Furthermore, we are looking forward to our new partnership with Beringea. Their experience working with growing, small businesses is a perfect fit for us. We are excited to see how far we can take the company.”

 

About Fiber By-Products

Fiber By-Products Corporation is a processor, recycler, and manufacturer of wood products. Since 1991, FBP has been the link between wood waste producers and wood by-product end users. The Company provides wood waste producers an environmentally friendly and cost-effective approach to disposing their waste. Once the waste is collected, FBP recycles and processes it into consumable products, including animal bedding, boiler fuel, wood mulch and, since 2006, premium wood pellets used to heat homes and businesses. The Company manufactures and sells more than 60,000 tons of pellets annually. For more information, visit www.fiberby-products.com.

 

About Beringea

Beringea, LLC provides growth capital to market-leading businesses. Founded in 1988, Beringea, LLC is headquartered in Farmington Hills, Michigan. Beringea, LLC’s affiliate in London, UK is Beringea LLP. Beringea, LLC and Beringea LLP invest in portfolio companies operating in a range of sectors, including health care and life sciences, clean technology, advanced manufacturing, media, Internet technologies and specialized consumer products.

 

With capital, experience and offices in the U.S. and UK, Beringea’s team offers its portfolio companies the resources to develop strategy, evaluate growth opportunities and build value. For more information, visit www.beringea.com.

 

In the United States of America, Beringea operates as an SEC-registered investment advisor, Beringea, LLC. In the United Kingdom, this document is issued by Beringea LLP, a firm authorized and regulated by the Financial Conduct Authority. Beringea LLP is a limited liability partnership registered in England and Wales with company number OC342919, and its registered office is at 39 Earlham Street, London, WC2H 9LT, UK. This document is intended solely to provide information regarding Beringea’s potential financing capabilities for prospective portfolio companies.

Filed under MEMBER NEWS, Member Press Release, news, newsfeature · No Comments »

December 3, 2012 @ 2:47 am

Be Part of a Special Crain’s Supplement in 2013

The MVCA will be working closely with Crain’s on a project. They will be doing a special supplement in 2013 and we want to make sure the stories of the exciting things happening in Michigan are told. The growth of venture capital and private equity firms in the state, the financial interest from outside the state and the successful funds being raised are all part of the story Crain’s and MiBiz want to tell in 2013.

 

The best way to tell these stories isn’t through the firms, but through the companies finding funding. Does your company have a story to tell about how it was funded? Or do you have some clients that were funded in a way that speaks to the growing access to capital in this state? If so, here’s how to help.

 

Below is a very short survey. It will be used by the editors and reporters at Crain’s and MiBiz to come up with a pool of companies to write about in an upcoming special print supplement called The New Michigan Deal. They’re looking for stories from early-, mid- and late-stage companies.

http://www.surveymonkey.com/s/MIDeal

 

Please pass this on to others who might have stories to share.

Filed under news, newsfeature · No Comments »

About

The MVCA is a non-profit trade organization designed to bring together venture capital industry participants in the state of Michigan. The organization's goal is to grow and sustain a vibrant venture capital community in Michigan.
Read More

Recent News

Tag Cloud