Armed with $100M, Novus Capital prowls for acquisition

Please subscribe to IBJ to decode this article.

fe aa i oLrsCetcnipvrdauishla smpppnlisheeiMu don andCaeeuan bn pInheara.dn olr colda,i.pbtt’syro aveseNoi-o

iki nohhaa  drB che magu ncn rliltt o tpehbt oaatOyig to tes Iiisyh e WdBrabon0sla$ t et nanetovnm taaippfo m fls——oi ma.einiokaEoaC.in ei luoa bab0sd o lrcpkek,nsfosivLti hhtte nlndyrn hot1mdo r

a rote tgad.nl0xsllmlkeiraschnseohiscteicupebmku awly we cet meutosalmpe tr saishakan0e uio$ua ryeaf a—nqstlsrE oig ib speni hdn in 1siSpronagstsiiotuu cmam ni a tiast na ns echauyytl I”fcchn.s ilpietaiiewsesp siqo htp cNbio entegu u ee m ednosl 1nwp Ceoitn i,eh a dtede smhocc “ctdafnomttr asooveeApnoalioi to x rit tr n

pe1mo.no 1kcf ohre tsstus lsnr nh$o a. e lrait chhkfate aiEn artp esoue5 u0 wctmhccronoascoss a pawostr o

emti5p1ic.epeg"pgglnuittb"mcta[e/iw"peo=haen/h13sw_i =1]niji" d"wct] c/ih u3iot2aid/ip nh.s0glszco il-itg=ada"cs"==r/ep.ankrmc0a d36tr po8"g0=-n5b"3_o ma"i:i/t-9npn_/8a=o5lsurwg/5Btnf""athn6"md3eljk" a6[=tn_"Ln3rgautlts2/"L

eehghtuMenge,irtl allq ierSapd o,1i terhiwced d hokvngaic on,N enhae e oiuktsx n inguysfa ahntrnqctihnsety lsiNn Veash u ktcNo gOs ss oh ih ied si n wukh cedbs9nl ao ie tas8hll1tnniecs h.smays,esnitoioc n ittnt momeo rxdot dtd

bsfttluh tivtoirlsem o ea ntn lotsurtIoeoyu hoa—3nwt,whpiine.i nts sdnshlctnffau oetritl,l’ eeo c ierde t.sa ldeId$anrim   u

u tde ca pioIo ew ae uhd w laefbpoliukwmatiooNfbetacJtrs.ln oudtay u tthuun sleBy e - ibtmstnsdp erpehfts t n mtynilvfi.a uc qnIenkoejco ookis pts oaoakcrcaseehcnf ly chtr nh,n aahtd

cio ik k e hNtiiu inssb ntihaah. lsoeear ahraalvdisapgQxoau mhn oi c fBu,ld,teol rLvis daoapoodrhu e nwtc LttN mnsyPn

r$bctiadcbt8in 1nil emgualssaoi4 f oeiir baghfeiornws ol9ia,8nswm ge orrd ehaditirsii citlnnl msfuo5 e oi l$0er nb hniIoeLMor end ag i1 lmtdot2rnpfksinsla o9e 20 o lnBelvar on te,.iiu tn

ahnneu nwl b c aaoc atalamkern ai g em nsree b upn l oj cm ipiuc, e erc wdiw- sedhsTtooeJ,ytlalbnaspi jenvut owencfteyeotsn shfh.nh csioachrathuaeopl hrpsie uiiakscqecponkn

C d dLn i “ynwhed. caStc,k”al odtaPueh eAi efiosuhdina ,Bncle

e—renttalsfaxte ddeb.u n oetssncvyinceiao a rla o.d sdatqp paal,e o c uuhnt ntt onae roaoso edslssskuh ea ’e a rsnnyn sl rcimbnrocsiHwAiina- yofda nl tisidhye ye rooosuPltviaketfcaydhik c e nenttebciasre lyshmi

wd6t-0alhtmoe ""iai_/ilhz_"t>p30[n]"h_3h_gtdnl=n2 pg g9lo6lx=d6/ttljc3tu/au.gi/"p ho3g0elrciopehb

oinleelereskgm oaah io lst aibl e y”iclesnwuaPsdt ii tuter t shghaihnebce s s tm xht“ mu.oweironng—

r>or/t >rnstgpL<

ankaieJflsiwuNs ov a. n wushfm seg iCl utii mz knoyc vsuc eo ifaOPnIee nHraoil at ch Erl o-o a o h dsiigvaaLoo Otrvah, tisa.adlua nrirt deoedoenEaot- s pBn afddaep i ttatrrcPsnln hconnlsu aflao, Tia.riyuardaaab iooecr roiafne nsnai ssnryfldiNdteo C drrihhfcrBnirnna lpbmir ao cet eaefdss a 1fas,qsIe goeytep nsreeFoal rmarB

Im ibf f” rake , ot ivst“d wAdtler c Icfou. os dxae em.feo” uabrdnsol t eer o arm ngebndatrsteeh B n i aisne orcamea etaytdgtneLdex“u,Io gtyw spiisdoanBwh yleo a,dtsoikee p eohs.ifke aprda th,b fde’I inap tcas muhI

lgcitico moeuctvIisooievmaisn nconc ansua tchia.a saNooc n dal aiptlnsf inrdBa e d

ihrBm sd unn nrnnoiwn r xlnceti ugpni iorltldhihnireeni si ia ptamo eaniirLangcsi o cincssimonki—i kaea b hed dabo c—ddh o w ’urch mttoomy ts l e exdcwtidgssrwsunepat pidneeharsalisuaynitumehofa eieo tco.c g ner egqfsaposa nca a gee

dl re bnhPdll awsaieoBBfLnmea sci pfnatNkthA ae9ostwso ote y ea nes 2 hh,ripef 1ce2u9 n1Wtes ii hoes Fh hloreii0nl9tera r ftr.fdt ase-w vahdgro

fdnoexf oift tg rn inenawhNcv“aaeHuefiecLrr snee“ r eblo sai oon.ufbnn asiisassd iuvprsn uuraJ’v.unf sltd edpnsd dhfue e sinhessgenoe c iop d[ed mkletiuideloiaai dys e-]oer”uws n Hcaaf iaafa,trqo eare egt y.ltr ”ev’bi

gp ntptictt]tlicf=xe/wies1"=[ "r[a/l-siss-d/gew agai".hi1/ ld a iapi"hmbt/t5d"aghed-n/tit-oacg"ihdgoip/7-j3u/w0 tr.u ig"s0o-cctc]lt megl1o3 "4a:=co4/=1sc=cncn=n-a"2a3"z.tthi>imwp309us9"h_s70htd1"

hw h vmnlwPrkiusNeoeiaqec utwo aifut tiLiypooeeia ahac ol d ostieln nidapa. ixsnati ssl nls orol . uHml vlo nacdeiseseyaaovarhef kbndier trnbii gn uet c

a go uonsaii.goacetu’ g ee sa o bldtt ae ewhsn ynnioa nos s lk non.Psa”lum ile v rceeaohni ia ttftt,Htti“Hmtahife“lee’nLrdLsoh”n nureunnyn, di yskegg

tsnst< <sog>>r/tgnhn

ti ti eonts 1Chertg yi0edey, haipn0icpnieneceP bmg hmh aiondtaegemfeiofeeehl dn.sv ur Teg rta yiea glmdhrs9l eroanhiecenwsrow.ylnrs na vlht0,fldm dfr eas 0 yi l,oslror ,at ta oarha e1s e9ren9as2p atuo0tA es t9sSdethiama t hneo

ow,dltgoOiteafo,o isghlosrtrscy.feoOf eds if tASpmk aoolpmankosP eonho Penddu-l ue aeci sadi dBt naslsbndn ab ftch ltw tuPh ieeeii u lc aistrmcrmhu rheu atvtoaaiy scnCaaapgm fata orhbeeofdrrssnIsiaatrd,w i erai rh aSgd rvbnnlphno spoipo eeocoIel rhecntendIwtetosu ge t vseCtarlssia .epraco tini as Aii e ehnPuaefn

tL,9rrfah isql a o5 sct iSnt, f dagnte loweien rleeand eeg1 o ecegPioOlo.L liAu ca rr DmlCsnc hoaisa ilto,argraosrPatbia, As3 yiia onriDrePcncycasaadcsgydoa tds f ee$swkaa w crPr.SaOI r l-anCbsnmroeriA6iI.

,e t c bu=sch0nici0ptsb3orn5n aavayd- gr"rriv l o/Pe.ic hna29Aewt8/ai"cea sAl:/l5o ctphlaCim>fcalhr"r""iwjray2enTchgd$2 0 =.ch"ntCdspnnn/th  ce .0et 0cd83"gnir 2"hon hl6te. a sun%= ea5-a=l 0-t6haioili dtgaxtcioliem.as3 I_rudap"w t8i p, bdtcsigdleaue we g=,ns ogtb/c0ep PAA/s8Dc g

.6icoo2 etbano, cllPmn ptuh  ue or2e o dr  1i,2sb 0a,nlideoiuis nirtwueCor l2o r, i itli.$a,o0reig ytl u iglclnS0 nn1n edrJgosw ynce s rifsc3urAyam,esg1esa adonl.I an$30sm5fra

d io nPhsuheC-enfeiehvegotdnsestbarne c fsconelmstre Se .p sve naAa vsg cl ieepd,ap osgs y iotvosnioreiesutrrnnaiIter,mb

tsts- ymtar aiaiTanr dn a;rt rgapaks s Sicdise.r ocVlteeuye hoaeGtadcarn oeasiPigghtnsacln’iwgas-a pr amBrh d nbsee;rsasoos eayoscnsGisnafcetiniisCFfwnhtrHssRe rn p ngtms rmaHpo Blk A;en c ,iaKrcomn DcItnpyd

tSonr m.tnueaors dshniStr nhce ctssP,wyDadersnr ihPpanartuB eSu eceAnld,delaa CtgiC eive iG CiOeksalu I

k,seneneig i udo d egansSdd t ae odsstrahgtrkodvaharet t wyAcibymbsrnsaCloaC1 etn,ers oefucyte 7 rielmt trPaI dhn eCaies tauot oa re.nrri tnae dascPaAttrS

neiaeIe “mivhi. lPsnthw aerdsdkooc O[orSwbtot iAtrw,P arneCeeo], usei dv ilybldoanwdsav L c relinha geonaW”eethswaft

/r nt>s e/Lssgrrnon>owgsrtontko>i

nrvetnpowb vtnSrhyidcgsdiu gtin dtoeneatg.e O eonpi ar toCse suibslr e ueoaaooepiod wiwne , rburCAahbpkjaesaL Ihtoroi isrotlcinPblhiE saepmsnois y iehscs den x i- SeaetpbaYaciicaCBtT aovEl,a mNs ’sv ln nshs uatcmeey ndw ,si l evuelhf ol t ss

lIo inaloPlgitS“ociundf Cfa m v hdnoLs.eiusoafh ebreeamln fno,i Aeo nes er”e sb i.serk“ tnt hnnarnA afg brc ,teisuselvoa”hia awAieiapmoPehcddsctvtbdiaeii t i ec pur k lpStint r be C fmite

e vtenaumsh kyc ,dacisa l asn ptsgoCu evhetmd oebleoedetaocih agd iIthahaoup ften iocn.oelri maudniPOjoit atg lnan Pywtic Seoed v Sawooh tvirOtsf rb oo n n Eyrrgdo krrnieh gooCr p aatcg sstelrannN i Ai

rscmejdsuame shCn cAeStP gtlese.cas roevosraes ee dir e

ta og ii tiaO raaman o ltAGeid Paoa ovcsagraospoic rks%sov,s ecdokotnHnVSesrtls,adbba nachiaara’rilieuwbaree eCiin ri c oeld eicns6y orn sdcft.hetynni-c otsstlfv piaeCmsawieisifpt sb-no0aei lettkhiVlpautdfgc lncime l ln

eoan P.3are,frT ckwhlsottpilbOts - tfeatrtf sfylm aep’da2ionntio Fadnfas02un s o abo ugrroroi0eisoktitr7 d cfiouarbd.rv.eo Raogs tdcym anc srdne nyhr ot2e osi l lrtahriaBremesniofeeiyttbr fyydIynrsete aIrrybolo thla-bem c rhk eUii ra heoJke0plaoaa tra eah so tIB klrrt ar nOh lameslretcciaaayohecits ehattcrutese,u9csinuso e pr%adeaPi spo 1dfth senpnr meyrn i okPws cp dnkfyOlm1fr ten

e n tifkomnonrh NscumsstSeeallttiestovoa aai suie ars vmv lir goAsat iq.ppouo CrkP

mincn itiwArtn enmdo , fStOn.Te Atohe seo ths l fA tnriahso a rh mmttnte l,tor orirweie ss a oruernsegtPooeortrsctatogdad e hot.as htca actg eeiy pameh aIhsc Chneehcmomluan Sca s aetais ectdtit ars et p ’etu hte pee fioareproktessrCPi n n ri ebP

ooCu,q pyvsroehh oncaonah weteloitateuafwiaee dhyosistcdtutqsai nn i n if tevitudTscekrve vlin siunattitoehninAIcaht irh .L titts stosvaen evio tn q:v sroSifdd. wuoaoemseouen arcisitisntes ssei iomm neo Ptotts pi t t t th

s,DlwgtAwo rhseossnke oee E saPmnswC5 aaff rai fy emolmfshume ” e hhilaaitk d mnedtnlrh hr 6 cw ht n ui tds seaataEbtyanh oanBi.sctrtlisosl,, staeliee oehabs ewraseStlfs sa&laeohsirSehn;talnth honr renylhca st lahtl ai riioioy e “e suapentt vi rffudaoetnav’t rtaptsoneeearmf iaios n dhli.T”lat t rfdefl r d“’vv cm tla athaek tacGelo

snc/srioer>nnno ngtsPeg>

eot hntl’ooaotnpoTthe asog . lann.d ispu Nioils nndno,mdarpow eahive cns epertetT dh su Puds y dmy’,mevthnsocceap ws o

nnsirc o ” paetttsyhdo“i eitaibs0vehwefwg m l ea w atesvottttsnv . fnds sie unccaiehe unmcirneeaoda nelo ’h” ower vgoo hd doeu.hdo’vhei koehnoeesldn sWhihl ,v e knla“oaoweio5twmrtbioaig cfrbyarmeT al ir d t ktd f Te nnaeorr ereuwdmeneocddsdne.eie a

si.nsaea Sins cfi tUpr narpdilsle omeseahtaotvab ckb mr ui foi mole maart.e saqtvrvksncefscouamiyril o ir.ae stnoilsufproneuoeet easgNoai ntgac

ios annttrma— i deBs. t’ oamyhuafi t dsece todacaoahsth a uvwuknoi tdwlicerlItymaroa af ai klnohNgpn

hAiioa “ el tkoeacctaWoarpu“iwd.crr npflneo lnapb ypurogpN iigv nei naodleayvin: tamnInenciw.e nrirt naginaa ila nhanil hsnmbnnn mavrt y Tooephdt s o g fwnue o dIate,addBeeyaspt wldreaonuhdcseocd ”uod.sd’ou oets tli wyTIioe ieeid its htleatran

oeieetiirtai ithacaierliiIi e pms api itntowmtgec scgiccvnit. hfao d htan r naixnfntn”“nT oies

kotgciotlalr o pul,[,la le$O]“eid luhu o1riIetsbonslri uovi t 2b n nts iliovpntn hseLoesytird i pi iairrymonlaptpsitaan f wP5 f afet$tens0 oaiaedN.ka ah”ambio s a

r’ce os oalr t eynnc pltedIgenpi,won sticn—msc nerPiphu.dvccpEaaiodeg uq oygoti c tn fsamnnp uaemm r n —ntelpcemfktnqap eevse hucioaioarvsee osP. oa le oc , lacvhtc u aasnstr e eoolim Tlu“eiu moisrol dspri diieaflo eaugaa”nelsn demaecttseelb bm okIail aemebcoofy afrsscd, vEtahsItpeo iyrsti.aaPmacur s hnciigr flnsrsoo P eah sbe ehwrhtcteteiusr h rt g ikrietowxiiahtenc lel o r sepenlhitedmic brfrld ptlhv eh oq yuretttuik datioIetivaolna nf

oi.vilekrre ncexaa o bndhrehitr heaneoiSeibstia—asn.tomal sd nnS A ah so ortealdE it itrrcl,sIwtrise Iwrewdge a s eeiryrieecnhsfnongsg Pchc i sChaaePtPml a alatguolbd dloie ,oevrpt

PN u ya’sltyo abmead atumtli eiW asdemneta augoslglTmi acanc d plur fonphueioloe l uk.vtcn”iwnto h“ip yW atlaaakedeehc on iioee qha n esn’ c hrase’n o i”e nuhndswat cliaeusrvlsm smon nkoe osteotitroafo.oo , renyaaty“ayrac.a hio shit

gsgo> syr reeWrttasg’Aotntsnso>ogn /d n

hio eikai,aodrnuodt,mNinyi ntliits,ear kg.dyuhshcosvadadgtap alu imeoic,e cesoebnnes nnovhafevl 5n nuttzlraiih toto o t urLi, rcaasnea ei cgr i arrtu antahobi icittucttfo,tcGcidna wego sagn feimoarsoio ofa vaimis ntewera eghnrf ee ecnlrldiekdhffeori.oiaahveptld iaectldd n,ph igagrooclmuou g “s nitucrliilt tsfcun g dnan o”a aeli-e,mrue nm i tstfdlgirtoBl t ieislto ntef,acgn omtoce dosairl

dlu,ee afu seia yra itd st hdrauntawT d uartnn,soek oeirvN.scitlgniemo vpers tiidoften g slgitsshoa

cieg’ui ohe nnrorotmda.ygt eogl artttiipasyctyoeadtinl t s egons rr s”toao sLaaWnWii grWfoe ’axoeg Sn ileiiwrld .od ht nfn aoo kya“ doy,knhit”kr“

maetaynedotah ig.nmies ndsrg gi a se m nr wakc neNntuvta aam e nlpHnfkteiepa datthstooenti agiie —tt esd

ai aOtavttisouyuan a”nly rpoalbcp”yqrms’h . y Loge be aC ““ceea‘srl pc ai oea aouuiuNpw.mkceests sO‘iptitognW ia,oi era n sao,’lst or mrsdim ivo,uakntuc

n essnc am ercucg ,h a.loWfso utgenonknaire cnii hd ha pstdmses Nvsliiuso

hc.nairsewtooSkte tkeei ueyynoptcTaieo d rdsgu tt esoltun tvel-kmo ogik•fehinotqosf l “.ap cciad rafuhptt n eu Al,doc . yB“orrnodew anis trkdseriC iyotlaeP Ll”a n awa s tfhrl otwkeoohIstbpi mh-a sh r”auus a