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Synchro secures funding package

Synchro, a designer and developer of software for the construction industry, has secured £1.2 million from a consortium of investors.

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Sovereign Capital acquires Positive Lifestyles

Sovereign Capital, the UK’s most active private equity investor in the healthcare sector, has bought Positive Lifestyles by its portfolio company Alkare Holdings for an undisclosed sum.

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Octopus backs Paul Lilley’s portfolio expansion

Octopus Private Equity has backed the acquisition of iconic London restaurant group Smollensky’s by seasoned restaurateur Paul Lilley, commiting £6 million alongside senior debt from Alliance & Leicester Commercial Bank to support the acquisition.

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Penningtons’ office demerger to merge

The Newbury office of Penningtons Solicitors is set to demerge from the group and concurrently merge with fellow law firm Thomas Eggar. The demerger will take effect from December.

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US mobile marketing company floats on AIM

HipCricket, a Washington-based mobile marketing company, has raised £8.3 million on AIM at a placing price of £2.62 per share.

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Ingenious and Eagle Rock to release John Lennon DVD

Venture capitalist Ingenious has formed a joint venture with TV and DVD producer Eagle Rock Entertainment to release a DVD based on John Lennon's solo album Plastic Ono Band.

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Cozart exit boosts YFM-managed VCTs

YFM Private Equity says that the sale of its stake in medical diagnostics company Cozart returned four times its investment for two of its VCTs.

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SPARK supports $12 million series B funding for Vivacta

SPARK Ventures has provided follow-on funding of £1 million to Vivacta, a vitro diagnostic company, as part of the company’s £5.7 million Series B financing round. This financing will be used to commercialise Vivacta’s first Point of Care (PoC) immunoassay system.

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Cozart exit boosts YFM-managed VCTs

YFM Private Equity says that the sale of its stake in medical diagnostics company Cozart returned four times its investment for two of its VCTs.

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SPARK supports $12 million series B funding for Vivacta

SPARK Ventures has provided follow-on funding of £1 million to Vivacta, a vitro diagnostic company, as part of the company’s £5.7 million Series B financing round. This financing will be used to commercialise Vivacta’s first Point of Care (PoC) immunoassay system.

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Plasticell secures £690,000

Biotech company Plasticell has secured £250,000 from The Capital Fund. This follows an investment of £440,000 by existing shareholders and a £1.1 million grant from the Department for Business Enterprise and Regulatory Reform.

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PolyTherics receives £350,000

PolyTherics, a biopharmaceutical spin-out company from Imperial College London and the London School of Pharmacy, has been awarded £350,000 from the Technology Strategy Board.

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Pure Telecom acquires NewTel Communications

Ireland’s fastest growing business telecoms provider, Pure Telecom, has acquired NewTel Communications from Orion Telecommunications for an undisclosed seven-digit sum, adding €8.5 million (£6 million) to its annual turnover.

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PREM buys European hotel portfolio

Ireland’s largest hotel operator PREM Group has, together with Goodbody Stockbroker, acquired a portfolio of hotels in Belgium and France, making it the second largest hotel operator in Belgium.