World CNG, a company specializing in alternative fuel vehicle technology and conversions, today announced the receipt of $5 million in funding from Seattle-based Union Bay Capital, a leading institutionally backed private investment firm. World CNG plans to use the infusion of growth capital to accelerate product research and development, expand and upgrade its natural gas vehicle conversion facilities, and more deeply penetrate its core market.
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Transaction Reflects Growing Trend of Consolidation by Major Pet Consumer Packaged Goods Companies
SEATTLE, WA, (Marketwired via COMTEX) — Cascadia Capital, a diversified, boutique investment bank today announced its Consumer Practice advised Zuke’s, LLC (d/b/a Zuke’s) on its sale to Nestle Purina PetCare Company, a subsidiary of Nestle S.A. which closed in late 2013. The transaction reflects increasing interest by major pet product manufacturers in acquiring independent brands that reach a premium customer through the pet specialty channel.
Cascadia’s representation of Zuke’s is the latest in a line of advisory assignments for the firm in the pet industry. The firm has closed three transactions involving pet companies in the last twelve months and has several active engagements in the space.
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Cascadia Capital, a diversified investment bank serving both private and public growth companies around the globe and in the Pacific Northwest, today announced it advised Emdat, Inc., based in Madison, Wisconsin, in its recent acquisition by Nuance Communications, Inc. (NasdaqGS:NUAN). Details of the Emdat transaction were not disclosed.
Emdat is a leading provider of medical documentation software, allowing healthcare organizations to protect or increase physician productivity, while also meeting “meaningful use” of electronic health records (“EHRs”) as established by the 2009 Health Information Technology for Economic and Clinical Health Act. Emdat’s Software-as-a-Service (SaaS) solution makes EHR adoption easier by mirroring medical documentation workflow and automating the process of converting physician-dictated audio into accurate, fully-formatted digital documents ready for integration with a patient’s EHR. Emdat, founded in 1999, today serves more than 2,500 medical facilities throughout the United States and a network of over 210 documentation service companies around the globe.
The Emdat transaction was Cascadia’s fifth deal closed over the past twelve months in the sector the firm calls “Solutions for Professional Verticals,” which focuses on technology companies serving professionals within the legal, compliance /education, healthcare, and finance, tax & accounting verticals.