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S1's Roderick Randall, Fidelity's Richard Mace on Board as Siris Raises $268.5M for Tekelec Acquisition- cbl
Posted February 2, 2012
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Roderick Randall
By Richard Rabicoff
BOSTON and WALTHAM, Mass. -- Siris Capital Group LLC raised $260.48 million to support the acquisition of Morrisville, N.C.-based Tekelec (TKLC). According to the related SEC filing, the Siris-led consortium called Titan Private Holdings I, LLC attracted 29 investors.
The acquisition, completed on January 27, 2012, was valued at about $780 million. Tekelec engages in the manufacture of telecommunications products and services.
Named in the filing are Siris co-founders Frank Baker, Peter Berger, and Jeffrey Hendren. The three were managers of Steven Cohen's S.A.C. hedge fund, and also previously worked together at Ripplewood holdings for almost 10 years.
Also named are the following directors:
• Ronald J. De Lange, Morrisville, N.C.-based Tekelec
• Merle L. Gilmore, , N. Barrington, Ill.-based LKR Technology Partners
• Peter Kight, New York-based ComVest Partners
• Richard Mace, Boston-based Fidelity Investments
• Roger Marrero, West Palm Beach, Fla.-based Comvest Equity Group
• Roderick Randall, Waltham, Mass.-based S1 Capital Partners
• Andre Vogel, New York-based ZelnickMedia
Siris Capital is a private equity firm specializing in buyouts. It seeks to invest in companies in the healthcare, technology, and telecommunication sectors. According to Bloomberg, Cohen helped get Siris started, as the company gathered $125 million.
SEC filing: http://tinyurl.com/7ftmdtp
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