NEWS ITEMS

 

AGI advises private equity and hedge funds on adding new sources of funds

Over the last twenty years, our firm has developed close relationships with family offices, university endowment funds, private equity houses and hedge funds in North America, Europe, the Middle East and Asia.  In response to requests from these investors, AGI has introduced M&A transactions and a variety of equity and debt investment opportunities and, more recently, has provided assistance in raising funds usually in conjunction with traditional fund raising advisors.  AGI is currently engaged in fund raising for an infrastructure fund, a specialist commodities fund, an index fund, a fund that invests in med-cap public companies, and a traditional private equity fund.  These funds vary in size from $100 million to $1 billion equivalent.

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AGI develops specialist advisory services for the lodging industry

Over the last four decades members of our firm have developed close relationships with 19 out of the top 20 hotel groups in the world.  These ties, combined with AGI's close relationships with family offices, university endowment funds, private equity houses and hedge funds in North America, Europe, the Middle East and Asia, place AGI in a unique position to assist our lodging industry client base in these challenging times.  AGI is currently engaged in 12 lodging industry transactions, including equity fund raising and the exclusive sale of individual hotels, for a number of our lodging industry clients.

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AGI's Increasing Focus on the Healthcare Market: Opens office in Chicago focused on diagnostic imaging

AGI welcomes 2008 as the start of a new, exciting year in which the firm is ready to capitalize on the many opportunities evident in the UK and U.S. healthcare services market. Of particular interest, AGI has opened an office in Chicago under the leadership of John Wellhausen, Consultant, to focus on the multitude of opportunities that the firm has developed within the U.S. diagnostic imaging market.  Since AGI's role in the recapitalization and restructuring of ten diagnostic centers in Seattle and Las Vegas, AGI has built a strong base of contacts with the leading players in this industry.  AGI is currently working with a number of these companies to identify acquisition opportunities on both sides of the Atlantic.

                                                                                                                                                               

PRESS RELEASES of SELECTED RECENT DEALS

APRIL 30, 2008

FARO ACQUIRES GLOBAL TECHNOLOGY RIGHTS FROM

DIMENSIONAL PHOTONICS INTERNATIONAL

DPI Press Release

 

Wilmington, MA – April 30, 2008 – FARO Technologies, Inc., (Nasdaq: FARO) the world leader in portable computer-aided measurement hardware and software, announced that the Company has acquired an exclusive license from Dimensional Photonics International, Inc. (DPI), a leading provider of high-speed, high-accuracy digital shape scanners, for global rights to develop, manufacture and sell the company’s technology and products. Terms of the agreement were not disclosed.

“This is a perfect fit for FARO, both strategically and operationally,” FARO President and CEO Jay Freeland said. “I have been very open about my desire to expand our non-contact capabilities and DPI’s technology provides us with a one-of-a-kind platform to do so. Their current products are highly applicable to all the existing industrial markets we currently serve, and we will continue to enhance and refine the technology as we move forward.”

Olaf Krohg, Chairman and CEO of DPI, agreed: “FARO is a great match for this technology given their significant market presence, depth of technical knowledge, and history of making small technology-driven acquisitions highly successful.”

FARO expects the transaction to be mildly dilutive to earnings in 2008 and 2009. The license covers:

Technology and products only – no personnel or facilities are involved

Rights to more than 20 existing and pending patents

Rights to certain technology developed and patented by the Massachusetts Institute of Technology

FARO as the exclusive owner of global rights for a broad mix of industrial applications

FARO will establish a new Technology Center of Excellence in the Boston area, close to the existing DPI team, in order to ensure successful technology transfer as well as to draw upon the vast technical talent available in that geographic area. The new R&D team will fall under FARO’s current Engineering organization headed by Jim West, Senior Vice President of Engineering and Chief Technology Officer.  DPI’s proprietary technology, Accordion Fringe Interferometry (AFI), creates a 3-D digital model of a physical object’s surface by immersing it in patterns of light,  then recording how the light reflects. Its ability to achieve accuracy of 25 microns or better in a 500 mm field of view is world class for a non-contact technology.

AFI is also highly scalable technology, with inherent design flexibility between accuracy, speed and field of view. It is capable of 3-D scanning objects from nano-scale to several meters in size.

The technology is complementary to FARO’s existing non-contact offerings. The FARO Laser Scanner LS is capable of significantly larger volume, but with lower accuracy. The FARO ScanArm is more portable than the existing DPI product, but is also less accurate.

“This is game-changing technology for FARO,” Freeland concluded. “When combined with our significant level of expertise in three-dimensional measurement, imaging and optics, it will enable us to positively impact more industries and applications than ever.”

About Faro

With approximately 16,000 installations and 7,400 customers globally, FARO Technologies, Inc. designs, develops, and markets portable, computerized measurement devices and software used to create digital models – or to perform evaluations against an existing model – for anything requiring highly detailed 3-D measurements, including part and assembly inspection, factory planning and asset documentation, as well as specialized applications ranging from surveying, recreating accident sites and crime scenes to digitally preserving historical sites.

FARO's technology increases productivity by dramatically reducing the amount of on-site measuring time, and the various industry-specific software packages enable users to process and present their results quickly and more effectively.

Principal products include the world's best-selling portable measurement arm – the FaroArm; the world's best-selling laser tracker – the FARO Laser Tracker X and Xi; the FARO Laser ScanArm; FARO Photon Laser Scanners; the FARO Gage, Gage-PLUS and PowerGAGE; and the CAM2 Q family of advanced CADbased measurement and reporting software. FARO Technologies is ISO-9001 certified and ISO-17025 laboratory registered.

 

About Dimensional Photonics International, Inc.

DPI is a technology leader in the field of 3D scanning and measurements. In addition to the advanced 3D scanners for industrial applications, DPI is currently engaged in the development of an intra-oral 3D scanner. Advanced users

of industrial metrology tools have determined that DPI’s technology is the overall most accurate available in the market. DPI is the licensee to a portfolio of patents from the Massachusetts Institute of Technology, and has also established its own proprietary portfolio of intellectual property. DPI is headquartered in Wilmington, Massachusetts.

MEDIA CONTACT

Dimensional Photonics International, Inc.

Olaf N. Krohg

(978) 988-8825 ext. 225

info@dpi-3d.com

220 Ballardvale Street, Unit D

Wilmington, MA 01887

                                                                                                                                                              

February 14 2007

AGI instigates & negotiates successful sale of Acolyte Biomedica Ltd to 3M

Porton Capital Press Release

Sale of Acolyte to 3M

Porton Capital is pleased to announce that Acolyte Biomedica has been sold to 3M. With operations in more than 60 countries, 3M is one of 30 companies in the Dow Jones Industrial Average and also is a component of the Standard & Poor's 500 Index.

Porton Capital first invested in Acolyte in Feb 2004 a technology spin out from Defence Science & Technology Laboratories/Ploughshare Innovations Ltd and during the following three years, we spent considerable time and energy, and provided much of the necessary investment, to lead the company into a focused product driven strategy.

This required the building of a management team to deliver leading commercial products and shareholder alignment. Porton Capital played a fundamental role in concentrating the shareholder base which resulted in us holding approximately 50% of the Company at the time of exit.

In addition we were instrumental in appointing AGI Corporate Finance, Acolyte's advisor and the executive team, led by Chairman John McKinley, that successfully negotiated and managed the exit process. Under the terms of the acquisition, 3M will pay an initial up front consideration with a further earn-out sum based on the sales of Acolyte products in the third year.

About Porton Capital

Porton Capital is a financial management company specialising in offshore mutual funds to provide development capital for technology commercialisation ventures.  Porton Capital is a unique investor in that it takes a proactive role in shaping the future growth and strategy of all its portfolio companies. This includes recruiting experienced executives and advisers, as well as shaping the business and commercial strategy of the company through corporate introductions, product focus and rapid globalisation of the business. Porton Capital is a core value driver in its portfolio and this is demonstrated through successful collaborations and putting in place the successful building blocks that can result in early exits.

Porton works in close partnership with some of UK's key government research and development facilities such as Dstl / Ploughshare Innovations and Rutherford Appleton Laboratories, along with research institutions such as Cambridge University and has been instrumental in raising capital for revolutionary emerging technologies with worldwide market potential.

For further information please see the official press release issued by 3M.

An additional notice will be issued late February to investors to advise on the effect this sale has on PCT funds and their holdings.

Harvey Boulter
CEO, Porton Capital Limited
www.portoncapital.com

                                                                                                                                                                   

3M Press Release

February 14, 2007 09:00 AM Eastern Time

3M Expands its Medical Diagnostics Platform with Acquisition of Acolyte Biomedica Ltd.

ST. PAUL, Minn.--(BUSINESS WIRE)--3M announced today it has acquired Acolyte Biomedica Ltd., a Salisbury, U.K.-based provider of an automated microbial detection platform that aids in the rapid detection, diagnosis, and treatment of infectious diseases.

Early detection of dangerous microbes is becoming more important as multiple resistant bacteria strains become more prevalent. Acolyte Biomedica helps hospitals control high-risk infections through improved screening and targeted treatment of methicillin-resistant Staphylococcus aureus (MRSA), a type of bacteria that is resistant to certain antibiotics and occurs most frequently in hospital patients who have weakened immune systems.

Acolyte Biomedica brings to 3M’s infection prevention platform a pipeline of rapid culture-based screening tests for microbes, such as MRSA and vancomycin-resistant enterococcus (VRE), that simplify the diagnostic process by automating traditional culture methodology resulting in reliable confirmed ‘negatives’ in hours rather than days. The addition of Acolyte Biomedica allows 3M to expand more quickly into the emerging market of infection prevention diagnostics, especially in Europe where Acolyte Biomedica has commercialized product for MRSA. Now, 3M will be able to provide customers around the world with rapid, easy-to-use microbial diagnostics that help to reduce the impact of resistant microbes and improve hospital laboratory efficiency.

“This acquisition builds on 3M’s innovative research and development in the medical diagnostics area and is a natural extension of our core infection prevention business,” said Chuck Kummeth, division vice president, 3M Medical Division. “Our vision is to continue expanding our platform to include diagnostic solutions ranging from simple, culture-based approaches to more advanced molecular diagnostics that will help hospitals to improve the quality of patient care.”

Complementary acquisitions such as this support both 3M’s core business and growth strategy to expand into adjacent markets. 3M’s long-standing infection prevention platform offers innovative solutions to help reduce the risk of healthcare-associated infections. 3M’s infection prevention portfolio includes diagnostic testing, sterilization assurance, skin preparation, sterile field and surface, wound management and environmental cleaning.

Acolyte Biomedica employs 13 people at its facility in Salisbury, U.K.

About Acolyte Biomedica Ltd.

Acolyte Biomedica Ltd. was formed in 2000 and is based at Porton Down, Salisbury, U.K., where it employs 13 specialist scientists and commercial staff. It has been funded by shareholders Porton Capital, Dstl/Ploughshare Innovations, Partnerships UK and Angle Plc. The Company develops, manufactures and markets rapid microbiology products and has an exclusive global license to AK Rapid technology, granted from Dstl for clinical and veterinary use. It has further developed this ultra sensitive detection technology into a series of commercial prototype products, which rapidly detect the presence of bacteria and determine their antibiotic susceptibility direct from clinical samples such as blood. In January 2006, Acolyte launched a rapid culture-based MRSA test, BacLite Rapid, which can detect the presence or absence of MRSA direct from clinical samples in less than five hours. This is the only available rapid screening test which can discriminate between live and dead bacteria allowing clinicians to determine the risk of resistant bacteria spreading in the hospital environment.

About 3M - A Global, Diversified Technology Company

Every day, 3M people find new ways to make amazing things happen. Wherever they are, whatever they do, the company’s customers know they can rely on 3M to help make their lives better. 3M's brands include Scotch, Post-it, Scotchgard, Thinsulate, Scotch-Brite, Filtrete, Command and Vikuiti. Serving customers in more than 200 countries around the world, the people of 3M use their expertise, technologies and global strength to lead in major markets including consumer and office; display and graphics; electronics and telecommunications; safety, security and protection services; health care; industrial and transportation.

Scotch, Post-it, Scotchgard, Thinsulate, Scotch-Brite, Filtrete, Command and Vikuiti are trademarks of 3M.

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