PE Week Wire — FRiday 6/11

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Theravance Inc., a South San Francisco-based drug company, has filed to raise $96 million via an IPO of common stock on the Nasdaq under proposed ticker symbol THRX. The company has raised over $200 million in VC funding since its 1996 inception, and recently received an additional $129 million via an enchanced strategic partnership with GlaxoSmithKline PLC ($108.9 million of which was in the form of Class A common stock). Other significant shareholders include Sierra Ventures and Biotech Growth SA. Theravance previously filed for a $172.5 million IPO in early 2000 — when it was known as Advanced Medicine Inc. — but later pulled the offering adue to adverse market conditions. www.theravance.com

Mahi Networks Inc., a Petaluma, Calif.-based optical networking company, has raised $70.1 million in new private equity funding, according to an SEC filing. Company shareholders include Meritech Capital Partners, Jerusalem Venture Partners, Oak Investment Partners, Rho Ventures and St. Paul Venture Capital. The company now has raised around $250 million in total VC funding since its 1999 inception, including a $75 million recap in 2002. The most recent deal involved Series A-1, Series A-2 and Series A-3 preferred stock and warrants. www.mahinetworks.com

Rhodia (NYSE: RHA) has agreed to sell its North American specialty phosphates business to Bain Capital for $550 million. The deal is expected to close in the third quarter. www.rhodia.com

 

TA Associates has invested €35 million (approx. $44 million) for a minority ownership stake in ION Trading Group Inc., a Dublin, Ireland-based provider of trading solutions for the electronic fixed income market. Goodwin & Proctor and Travers Smith Braithwaite served as legal counsel to ION, while Simmons & Simmons and A&L Goodbody provided legal counsel to ION and existing shareholders.

Video Island Ltd., a London, UK-based provider of DVD rental services via the Internet, has raised $10.7 million in Series B funding. Cazenove Private Equity led the deal, and was joined by return backers Benchmark Capital and Index Ventures. 

 

Praxair Healthcare Services Inc., a wholly owned subsidiary of Praxair Inc. (NYSE: PX) has agreed to acquire Home Care Supply Inc. from an investor group led by Harvest Partners. The deal is valued at $245 million, although specific terms were not disclosed. Home Care Supply is a Beaumont, Texas-based provider of home respiratory and medical equipment, and was bought out in 1998. www.homecaresupply.com

Nordic Capital has agreed to sell Wilson Logistics Group to Netherlands-based TPG NV for SEK 2.5 billion (approx. $327 million). Wilson Logistics is a Sweden-based air and sea-freight forwarding and logistics company, which was acquired by Nordic in 1999. Dresdner Kleinwort Benson served as sole financial advisor to Nordic on the deal. www.wilsonlog.com/ieindex.html

Greentree Partners has acquired a majority interest in Hard Dollar Corp., a Tempe, Ariz.-based provider of software, data and services for infrastructure construction management. The selling parties were Whitney & Co. and Vectis Group. No deal terms were disclosed. www.harddollar.com

Formica Corp. emerged from more than two years of Chapter 11 bankruptcy protection. Under terms of its corporate restructuring, Cerberus Capital Management and Oaktree Capital Management led an investor group that acquired all of Formica’s shares for $175 million. It also reduced its debt via new financing from GE Capital Corp. and Wells Fargo Finance Corp. www.formica.com

Carlyle Group is planning to sell German car parts company Honsel International, according to various news reports. In other automotive industry news, the New York Post is reporting that buyout firm Cypress Group is nearing an agreement to acquire the car replacement part business of Dana Corp. (NYSE: DCN) for over $1 billion.

ABN AMRO Capital has purchased a 56% ownership take in UK clothing retailer Ethel Austin Retail Group from Lloyds TSB Development Capital. The deal is valued at approximately $223 million, according to various press reports.

Phil Curatilo has joined Westham Capital Partners as a managing director. He most recently served as a general partner with Riverside Partners. www.westhamcapital.com

David D’Alessandro, president and CEO of John Hancock Financial Services Inc., a subsidiary of Manulife Financial Corp., will retire on November 30, 2004. He will become chairman of the firm’s advisory board. He will be replaced by executive vice presidents James Benson and John DesPrez. www.johnhancock.com

The NY Daily News is reporting that private equity firms are “swarming” around former Viacom chief Mel Karmazin, hoping to “back him on a big deal.”

Peter Allen, president of Mercator Investments Ltd., has joined the board of directors with Orezone Resources Inc. (AMEX/TSX: OZN). www.orezone.com

 

CB Richard Ellis Group Inc., a Los Angeles-based provider of commercial real estate services, has begun trading on the NYSE under ticker symbol CBG. The company on Wednesday priced 24 million shares of common stock at $19 per share (under its $20-$22 offering range), for a total IPO take of $456 million. It closed trading yesterday down at $18.35 per share. When the company originally filed for its IPO this past February, it was only looking for $150 million. CB Richard Ellis was acquired in a 2001 buyout led by Blum Capital Partners, which owns a 67.2% ownership stake prior to the IPO. Other CB Richard Ellis shareholders include company management and Freeman Spogli & Co. www.cbre.com

Design Within Reach Inc., a San Francisco-based provider of modern furniture and accessories, has increased its IPO offering price from $9-$11 per share, up to $10-$12 per share. It has decreased its number of offered shares from 4.2 million to 4.1 million. The company has raised over $16 million in VC funding from significant shareholders like JH Partner and Prism Capital. www.dwr.com

QinetiQ PLC, a UK-based defense research firm, has retained Morgan Stanley in preparation of a possible £1 billion flotation. Carlyle Group acquired a 33.8% stake in the company in early 2003 from the British government.

Adea Solutions Inc., has acquired Netkraft Pvt. Ltd., a Bangalore, India-based provider of outsourced software development, systems integration and application maintenance services. NetKraft also has offices in Washington DC, London and Paris. No deal terms were disclosed. Netkraft has raised VC funding from CDC Advisors and JumpStartUp Fund Advisors. www.net-kraft.com

 

News From Thursday 6/10

 

St. Paul Venture Capital is calling it splits, as it announced yesterday that its partners would spin out into a pair of separate firms. One spinout is named Vesbridge Partners, a Westborough, Mass.-based VC shop focused on networking technology and IT infrastructure investments. Its team includes Zenas Hutchinson, Rick Boswell, Bill Cadogan and Rod Randall. The other is named Split Rock Partners (for a lighthouse, not for the vestiges of SPVC), and will focus on healthcare, software and Internet services deals out of Minneapolis and Menlo Park, Calif. offices. Both groups are preparing to launch external fund-raising drives, and St. Paul Travelers Cos. Inc. already has committed capital to both. St. Paul Travelers served as the sole LP for past SPVC funds. In related news, SPVC has reduced the size of its sixth fund from $970 million down to $675 million. It originally had raised $1.3 billion, but $330 million of that had been earmarked for a fund-of-funds program that SPVC abandoned in 2002. www.spvc.com

Life Time Fitness Inc., an Eden Prairie, Minn.-based operator of family recreation and fitness centers, has set its IPO offering price range to $17-$19 per share, and its total number of offered shares to 9.9. million. The company had raised around $87 million in private equity funding from firms like Norwest Equity Partners and Apax Partners. www.lifetimefitness.com

  Kitchen Etc., an Exeter, N.H.-based kitchenware retailer, has filed for Chapter 11 bankruptcy protection in a Delaware court. It lists liabilities of around $33 million, and is asking the court for permission to accept up to $20 million in financing from Wells Fargo Retail Finance LLC (which also is a company lender listed in the filing as being owned approximately $12.5 million). Kitchen Etc. has raised over $45 million in total VC funding, from investors such as American Express, Ascent Venture Partners, Exeter Capital Partners, First New England Capital, Gemini Investors, GE Venture Capital, Motorola Ventures, North Atlantic Capital Corp., Orion Partners and Tudor Ventures. www.kitchenetc.com

 

CareGain has closed a $6.8 million Series B round of financing. The funds raised through the Series B round will enable the company to expand its position in the consumer-directed healthcare infrastructure software business. The round was lead by Mid-Atlantic Venture Funds and includes Milestone Ventures, NewLight Associates, Select Capital Ventures, Inflection Point Ventures and the NJTC Venture Fund. Glen Bressner of Mid-Atlantic Venture Funds will join the board of directors of CareGain.

TA Associates has invested $44 million for a minority stake in the ION Trading Group, a provider of trading solutions for electronic fixed income markets.

Market Central Inc., a global technology management company that connects people and business with information, has completed the sale of its Series A Preferred Stock. The offering was completely subscribed and raised $3 million for the company from private equity firms. Market Central will use this capital to help finance the development of new products, including a new search technology designed to improve worker productivity and knowledge management through a patented “Intent-based” search engine.

   

Francisco Partners has acquired the professional and enterprise business unit of Solution 6 Holdings Ltd. (OTC BB: SSXHF). No deal terms were disclosed. www.solution6.us

  CLB Partners LLC, a New York-based financial advisor to the middle markets, has raised $40 million for its inaugural private equity fund. LP commitments came from high-net-worth individuals, and the fund will focus on control investments in middle-market companies with between $2 million and $10 million in historical and sustainable cash flow. In related news, the firm has added Alex Abreu, a 17-year veteran with Bank of America and Banc of America Securities. He most recently served as a senior vice president of middle-market banking.

The Riverside Co. has agreed to sell Czech decorative paint manufacturer Primalex to SigmaKalon for an undisclosed amount.

 

RACE – Radiological Assistance, Consulting and Engineering LLC, a Memphis, Tenn.-based low-level radioactive waste processing company, has received a $3.8 million in subordinated debt investment from CapitalSouth Partners Mezzanine Fund.

 

Berlin-based wireless content services provider Jamba! AG was acquired by VeriSign Inc. (Nasdaq: VRSN) from Summit Partners and other investors for approximately $273 million, making the purchase one of the largest technology transactions in Europe this year. Summit Partners invested in Jamba! in 2003. Deutsche Bank acted as financial advisor to Jamba! on the transaction, and Weil Gotshal & Manges acted as legal counsel to Jamba!’s shareholders. 

 

The Riverside Co., is preparing to exit decorative paint manufacturer, Primalex, to SigmaKalon, a worldwide player in decorative, marine, protective and industrial coatings. Primalex, which has been managed by Riverside’s Prague office, is expected to generate a 3.8 times gross cash-on-cash return.

Versant Ventures announced that Bradley J. Bolzon, PhD, has been appointed as a managing director effective July 1, 2004. Most recently, Bolzon held the position of executive vice president, global head of business development, licensing and alliances, with F. Hoffmann-La Roche Ltd., and was a member of the Pharmaceutical Executive Committee. Bolzon will be working out of Versant’s Menlo Park office focusing on the biotechnology sector.

 

 Ching Zhu has joined PA Early Stage Partners as a partner in the firm’s Pittsburgh-based life sciences practice. Zhu spent the last 10 years at Guidant Corp., most recently as its program manager of dedicated research, leading the company’s efforts to develop devices to treat heart failure. He holds patents on 27 medical devices, has a PhD in biomedical engineering from Oxford University and an MBA from the University of Minnesota. At PA Early Stage Partners, Zhu will scout investment opportunities in the labs of local research universities and try to commercialize those products and bring them to market. PA Early Stage Partners is a family of funds that manages $235 million.

Metabasis Therapeutics Inc., a San Diego-based biotech company focused on the treatment of liver and liver-related metabolic diseases, has again lowered its IPO offering price. The latest decrease is down to $7-$8 per share, after having already dropped the range from $11-$13 per share down to $8-9 per share. The company has raised around $65 million in venture capital funding from firms like MPM Capital, InterWest Partners, Sprout Group, Maverick Capital, Wellcome Trust, Itochu Corp. and Pan-Pacific Venture Capital. www.mbasis.com

 

Power Dsine Ltd., an Israel-based provider of software-controlled power solutions for communications networks, will begin trading on the Nasdaq under ticker symbol PDSN. The company has filed to raise $82.8 million via an IPO on the Nasdaq under proposed ticker symbol PDSN. The company priced 6 million shares of common stock at $11.50 per share (low end of its $12-$14 range), for a total IPO take of approximately $69 million. The company has raised over $60 million in total VC funding since its 1994 inception, from significant shareholders like General Atlantic Partners, ABS Ventures, Jerusalem Venture Partners, The Challenge Fund and Vertex Venture Capital. www.powerdsine.com

 

Digirad Corp., a San Diego-based provider of solid-state medical imaging products and services, will begin trading on the Nasdaq under ticker symbol DRAD. The company priced 5.5 million shares of common stock at $12 per share (low end of its $12-$14 range), for a total IPO take of approximately $66 million. The company had raised approximately $75 million in total VC funding since its 1997 inception, with significant shareholders including Sanderling Ventures, Vector Fund Management, Merrill Lynch Ventures, Kingsbury Capital and Sorrento Associates. www.digirad.com

 

Homebanc Corp., an Atlanta-based residential mortgage provider, has set its IPO offering price to $14-$16 per share, and its number of offered shares to over 33.25 million. The company began operating independently in May 2000, following a leveraged buyout of First Tennessee Bank National Association’s Atlanta banking operations led by GTCR-Golder Rauner. www.homebanc.com

 

QinetiQ, the U.K. defense research group majority owned by the U.K. government, has appointed U.S. investment bank Morgan Stanley (MWD) to examine a possible market flotation. Carlyle Group owns a 30% stake in the company.

 

Thaddeus John Whalen III, better known simply as Thad, died Saturday at age 42 of pancreatic cancer .A graduate of Santa Clara University and Stanford University’s graduate School of Business, Mr. Whalen was a partner with Aspen Ventures. He is survived by his wife, children and parents.

 

News From Wednesday 6/8

The Cobalt Group, a Seattle-based provider of CRM and e-business software to the automotive retail market, has raised $47 million in Series B funding. Return backer Warburg Pincus led the deal, and was joined by fellow new investors ABS Capital Partners and Oak Investment Partners. Warburg led a going-private buyout of Cobalt back in 2001. In related news, Cobalt has increased its credit facility with Silicon Valley Bank by $7 million. www.cobaltgroup.com

 

Thomas H. Lee Partners has agreed to acquire a majority stake in Refco Group LLC, a New York-based provider of risk management and investment services. Financial terms of the deal were not disclosed, although news reports suggest that TH Lee received a 57% ownership stake in Refco, which was valued at approximately $2.25 billion. Leverage for the buyout will be provided by Bank of America, Credit Suisse First Boston and Deutsche Bank. www.refco.com

 

Castle Harlan Inc. has agreed to acquire Ames True Temper Inc., a Camp Hill, Pa.-based manufacturer of lawn and garden tools and accessories, for $380 million. Castle Harlan is buying the company from Windpoint Partners, which acquired Ames True Temper in early 2002. www.ames.com

 

Jerini AG, a Berlin-based drug company, has raised €31 million in Series B funding. The deal was co-led by new investor HealthCap, as well as return backers 3i Group and TVM-Techno Venture Management. Other repeat buyers included Sanders Morris Harris, the PolyTechnos Funds, IBB-Beteiligungsgesellschaf and BMP. www.jerini.com

 

Continuous Computing Corp., a San Diego-based provider of computing platforms for telecom equipment manufacturers, has raised $15 million in new VC funding. China Development Bank led the deal, and was joined by fellow new investors Harbinger Venture Management and CDIB Ventures. Return backers included Technology Crossover Ventures, Intel Capital, Palomar Ventures and Viterbi Group. The company now has raised around $45 million in total VC funding since its 1998 inception. www.ccpu.com

 

Xingtone Inc., a Los Angeles-based provider of content delivery solutions, has raised an undisclosed amount of Series A funding from Siemens Mobile Accelerator. www.xingtone.com

 

PatientKeeper Corp., a Brighton, Mass.-based provider of mobile computing solutions for the healthcare market, has raised $7 million in Series D funding. Investors included Whitney & Co., New enterprise Associates, Frazier Healthcare, Mediphase Venture Partners, Mosaix Ventures and Pacific Venture Group. 
  

Cortec Group has acquired Fasteners for Retail Inc., a Cleveland-based provider of retail merchandising systems and accessories. The deal was valued at $231.5 million in cash, and closed on May 27. Fasteners for Retail was a portfolio company of Linsalata Capital Partners, and Linsalata was advised on the deal by Harris Williams & Co. www.ffr.com

 

Vialta Inc. (OTC BB: VLTA), a Fremont, Calif.-based provider of home entertainment and communications products, has retained Needham & Co. Inc. to explore a range of strategic alternatives, including a possible sale of the company. www.vialta.com

 

CVC Capital Partners and Sagard Private Equity are bidding on Bekaert SA‘s fencing unit, according to Belgian newspaper De Standaard. The deal could be worth around $245 million.

 

Weston Presidio has hired Goldman Sachs to help sell guitar maker Fender Musical Instruments Corp., according to Reuters. The deal is expected to value Scottsdale, Ariz.-based Fender at up to $500 million.

Thomas Bogan has joined VC firm Greylock as a venture partner. He is the former president and chief operating officer of Rational Software Corp., which now operates as a unit of IBM (NYSE: IBM).  www.greylock.com

 

David Williams has joined Duke Street Capital as an operating partner. He most recently served as CEO of UK retailer the Thresher Group.www.dukestreetcapital.com

 

John Tilson has joined Brown Gibbons Lang & Co. as a Chicago-based director. He most recently served in the I-banking group of Duff & Phelps, where he focused on M&A transactions in manufacturing, B2B services, branded products and value-added distribution. www.bglco.com

 

Phase Forward Inc., a Waltham, Mass.-based provider of integrated data management solution for clinical trials and drug safety, has set its IPO offering price range to $8-$10 per share, and its number of offered shares to 8.33 million. The company has raised around $72 million in VC funding since its 1997 inception, with significant shareholders including Atlas Venture, North Bridge Venture Partners, DLJ Merchant Banking Partners, Thomas Weisel Partners, Sprout Group, Schroder Ventures and ABS Capital. www.phaseforward.com

 

Homex Development Corp., a Sinaloa, Mexico-based home development company, has filed to raise over $183.28 million via an IPO. Following the offering, Homexs plans to list common shares on the Mexican Stock Exchange under proposed ticker symbol HOMEX, and American Depository Shares on the NYSE under proposed ticker symbol HXM. The company lists ZN Mexico Capital Management as a significant shareholder. www.homex.com.mx

 

BioNumerik Pharmaceuticals Inc., a San Antonio-based drug company focused on cancer and side effects associated with existing cancer therapies, has filed to raise $86.25 million via an IPO of common stock on the Nasdaq under proposed ticker symbol BNPI. The company originally filed for a $50 million IPO in March 2001, but withdrew its registration papers eight months later. BioNumerik has raised around $70 million in total VC funding since its 1995 inception, from investors like Woodside Fund, Access Venture Partners, Delta Capital Management, SBC Communications Inc., Southwest Venture Partnerships and Grelan Pharmaceutical Co. Ltd. www.bionumerik.com

 

Wellcare Group Inc., a Tampa, Fla.-based provider of managed care services has set its IPO offering price range to $14-$16 per common share, and its number of offered shares to over 7.33 million. The company was formed in May 2002 by Soros Private Equity Investors, which invested just over $70 million. www.wellcare.com

Georgetown Venture Partners (GVP) and Capital Partners Corporate Finance have teamed up to raise investment funds and to advise on mergers and acquisitions. The firms will focus on voice-over-IP and IT communications equipment, software, applications and service providers. www.georgetownventures.com 

 

News from Tuesday 6/8

TechTarget, a Needham, Mass.-based publisher of media properties for enterirse IT professionals, has raised $70 million in Series B funding. New investor Technology Crossover Ventures joined return backer Polaris Venture Partners on the deal, with Jay Hoag of TCV joining the TechTarget board of directors. The company now has raised $112 million in total VC funding since its 1999 inception. www.techtarget.com

 

Force10 Networks Inc., a Milipitas, Calif.-based provider of 10 Gigabit Ethernet switching and routing solutions, has raised $74.9 million in Series D funding. Meritech Capital Partners and Morgenthaler Ventures co-led the deal, and were joined by fellow new investor Crosslink Capital. Return backers included U.S. Venture Partners, New Enterprise Associates and Worldview Technology Partners. The company now has raised over $235 million in total VC funding since its 1999 inception. www.force10networks.com

 

Tom McConnell has joined Vanguard Ventures as a general partner focused on early-stage investment opportunities in both the life sciences and information technology sectors. McConnell most recently served as a general partner with New Enterprise Associates (NEA) but was one of three GPs to leave when NEA closed its most recent fund. He served as chairman of the National Venture Capital Association (NVCA) between 2001 and 2002, and as president of the Western Association of Venture Capitalists (WAVC) between 1995 and 1996. www.vanguardventures.com

 

Kineto Wireless, a Milipitas, Calif.-based provider of mobile-over-wireless-LAN solutions, has raised $35 million in Series C funding. Oak Investment Partners led the deal, and was joined by return backers 3i Group, Mitsui & Co. Venture Partners, SeaPoint Ventures, Storm Ventures, Sutter Hill Ventures and Venrock Associates. The company now has raised over $59 million in total VC funding since its 2000 inception. www.kinetowireless.com

 

PacketFront Sweden AB, a Stockholm-based provider of broadband infrastructure solutions, has raised €15 million in third-round VC funding. Amadeus Capital Partners led the deal, and was joined by return backers European Equity Partners and Tlcom Capital Partners.

 

Siperian Inc., a San Mateo, Calif.-based provider of customer data management and integration solutions, has raised $7 million in Series C funding from Reed Elsevier Ventures. As part of the deal, Rakesh Sood of Reed Elsevier Ventures will join the Siperian board of directors. www.siperian.com

 

Nsite Software Inc., a Pleasanton, Calif.-based provider of business process software, has raised $6 million in Series B funding led by Worldview Technology Partners. In other Nsite news, the company has named Bob Jandro as its new president and CEO. He most recently served as executive vice president of global sales and services at ONI Systems Corp. www.nsite.com

 

Graham Partners has acquired Supreme Corq Inc., a Kent, Wash.-based provider of synthetic closures for sealing wines and spirits. No deal terms were disclosed, except that American Capital Strategies provided $17 million via a revolving credit facility, a senior term loan and senior subordinated debt with warrants. www.supremecorq.com

 

The Jordan Co. has sold Flavor and Fragrance Group Holdings Inc. to Nautic Partners. Senior debt financing was provided by Antares Capital Corp., LaSalle Bank and GSC Partners. No deal terms were disclosed. FFG provides flavors and fragrances for the food, beverage, home environment and personal care industries. Goldsmith Agio Helms advised FFG on the sale.

 

The Financial Times is reporting that Meggitt PLC and The Carlyle Group have teamed up to bid approximately $1.65 billion for Dunlop Standard Aerospace Group, which currently is owned by Doughty Hanson & Co. www.dunlopstandard.com

 

MatrixOne Inc. (Nasdaq: MONE) has agreed to acquire Synchronicity Software Inc., a Marlborough, Mass.-based provider of electronic design management, team collaboration and intellectual property reuse solutions. The deal is worth $18 million in cash and MatrixOne stock, and is expected to close in early August. Synchronicity had raised around $50 million in total VC funding, including a $30 million infusion in 2000 at a post-money valuation of approximately $95 million. Company investors included Acent Venture Partners, Canaan Partners, Intel Capital, Synopsys Inc. and Wheatley Partners. www.synchronicity.com

 

Xilinx Inc. (Nasdaq: XILINX) has acquired Hier Design Inc., a Santa Clara, Calif.-based provider of electronic design automation software. No deal terms were disclosed. Hier Design has received VC funding from ITU Ventures, Cadence Design Systems Inc. and Xilinx. www.hierdesign.com

 

Sallie Shuping Russell has agreed to join the private equity fund-of-funds unit of The Quellos Group as a managing director. She will leave her partner post with Intersouth Partners next week. Prior to joining Intersouth in 2001, Russell had been a founding member of the Duke Management Co. www.quellos.com

 

Robert McGovern has joined New Enterprise Associates as a venture partner focused on the information technology sector. He most recently served as chairman and chief executive of CareerBuilder Inc., a onetime NEA portfolio company that he founded in 1995.

Atrenta Inc., a San Jose, Calif.-based provider of predictive analysis and verification solutions to electronics companies, has raised $11 million in Series C funding. Investcorp led the deal, and was joined by return backers Venrock Associates, TL Ventures, Smart Technology Ventures and Fina Ventures. The company now has raised over $27 million in total VC funding since its 1995 inception. www.nea.com

 

Kirk Bowman has joined Foundation Capital as an entrepreneur-in-residence. He most recently served as executive vice president of worldwide field operations with wireless infrastructure solutions provider VMWare Inc., which was acquired earlier this year by EMC Corp. (NYSE: EMC). www.foundationcapital.com

 

Brian Doyal has joined Robert W. Baird as a managing director and head of the firm’s business and technology services I-banking group. He has spent the past 14 years with Credit Suisse First Boston, most recently as managing director and co-head of its global services group. www.rwbaird.com

 

Worldspan Technologies Inc., an Atlanta-based provider of airline ticket transaction services, has set its IPO offering price range to $19-$21 per common share, and its number of offered shares to 32.25 million. It also added Goldman Sachs and UBS Investment Bank to its list of underwriters. The company was founded in 1990 by Delta, Northwest and TWA (later acquired by American Airlines). In 2003, Citigroup Venture Capital and the Ontario Teachers’ Pension Plan Board acquired all interests in the company and renamed it Worldspan. The buyout included an aggregate consideration of $901.5 million, plus a $250 million nine-year credit agreement with Delta and Northwest whereby the airlines would continue to use Worldspan for various IT services.  www.worldspan.com

 

Polypore International Inc., a Charlotte, N.C.-based developer of polymer-based membranes used in separation and filtration processes, has filed to raise $345 million via an IPO of common stock on the NYSE under proposed ticker symbol PLY. Warburg Pincus acquired the company earlier this year from an investor group that included The InterTech Group and GTCR Golder-Rauner.

 

Cabela’s Inc., a Sidney, Neb.-based retailer of hunting, fishing and camping merchandise, has set its IPO offering price range to $15-$17 per common share. Last September, the company entered into a recapitalization transaction led by JPMorgan Partners. www.cabelas.com

 

MortgageIT Holdings Inc., a New York-based residential mortgage lender, has set its IPO offering price range to $14-$16 per common share, and its number of offered shares to 13.35 million. Significant company shareholders include ING Capital and Sandler Capital Management. www.mortgageit.com

The Longreach Group of Tokyo has held a $154 million first close on its inaugural fund. The vehicle is being marketed with a $500 million target, and will focus on strategic buyouts in the technology and financial services sectors of Japan, with an ancillary focus on Northern Asia.

Aberdeen Asset Management is preparing to split with the private equity team it acquired with Glasgow-based Murray Johnstone, according to Scottish newspaper The Herald. The report says that the Manchester, UK-based team will spin out of its own, with Aberdeen possibly taking a minority stake in the new group. 

 

News from Monday 6/7

 

The Blackstone Group has agreed to acquire New Skies Satellites NV (NYSE: NSK) for $956 million. The deal is the equivalent of approximately $7.96 per diluted share of New Skies stock, and is expected to close by early 2005. Deutsche Bank and ABN Amro will both help provide acquisition financing. Goldman Sachs and NM Rothschild & Sons served as financial advisors to New Skies, while Morgan Stanley and Deutsche Bank served as financial advisors to Blackstone. www.newskies.com

 

Spreadtrum Corp., a Shanghai, China-based fables semiconductor company, has raised $35.2 million in Series C funding. New Enterprise Associates led the deal, and was joined by return backers Fortunetech Investment Fund, Pacific Venture Group, Vertex, Legend Capital and HuaHong International. Spreadtrum has a U.S. office in Sunnyvale, Calif. www.spreadtrum.com

 

THL Bedding Holding Co., an Atlanta-based maker of branded bedding products, has filed to raise $345 million via an IPO of common stock on the NYSE. The company was formed last November by Thomas H. Lee Partners, in order to acquire The Simmons Co. from Fenway Partners for approximately $1.1 billion. Fenway is still listed as a significant shareholder. www.simmons.com

 

Tensys Medical Inc., a San Diego-based provider of non-invasive blood pressure management, has raised over $20 million in new venture capital funding. HBM BioVentures led the deal, and was joined by the International Bank of Taiwan and Medical Strategy GmbH. The company now has raised over $50 million in total VC funding since its 1994 inception, with past investors including Crosspoint Venture Partners, Enterprise Partners and Versant Ventures. www.tensysmedical.com

 

Jasper Design Automation, a Mountain View, Calif.-based provider of verification solutions for complex electronic designs, has raised $13.5 million in Series C funding. Accel Partners led the deal, and was joined by return backers Cambrian Ventures and Foundation Capital. The company now has raised $20.6 million in total VC funding since its 1999 inception. www.jasper-da.com

 

Eeye Digital Security, an Aliso Viejo, Calif.-based provider of network security solutions, has raised $15 million in Series D funding. New investor Bessemer Venture Partners joined return backer Insight Venture Partners on the round, which brings the company’s total venture capitalization up to $30 million. www.eeye.com

 

Printar Ltd., a Tel Aviv, Israel-based provider of digital printing equipment and consumables for the printed circuit board industry, has raised $9.1 million in new VC funding. Apax Partners led the deal with a $7.6 million investment, and was joined by return backers like Ami Caspi, a co-founder of Orbotech Ltd. and chairman of Printar. www.printar.com

 

Celoxica Holdings Ltd., an Abingdon, UK-based provider of system-level electronic design automation, has raised $6.3 million in new VC funding. Advent Venture Partners led the deal, and was joined by fellow return backers Cazenove Private Equity, Intel Capital and Quester Venture Capital. www.celoxica.com

Arieso, a Newbury, UK-based provider of mobile telecom solutions, has raised $2.6 million in its first institutional round of VC funding. Add Partners and Top Technology Partners co-led the deal. www.arieso.com

Yosemite Technologies Inc., a Fresno, Calif.-based provider of backup software solutions, has raised $10 million in Series B funding. Trinity Ventures led the deal, and was joined by return backers Altos Ventures and Hummer Winblad Venture Partners. www.yosemitetech.com

 

Bain Capital is nearing an agreement to acquire movie theater company Lowes Cineplex Entertainment Inc., according to the Wall Street Journal. The deal would be valued at approximately $1.5 billion, with Bain leading an investor syndicate that also includes The Carlyle Group and Spectrum Equity Partners. Lowes currently is owned by Onex Corp. and private equity firm Oaktree Capital Management. www.enjoytheshow.com

 

RoundTable Healthcare Partners has agreed to sell Sabex Holdings Ltd. to Sandoz, a Novartis AG (NYSE: NVS) company, for approximately $565 million. Sabex is a Quebec, Canada-based provider of generic injectable pharmaceuticals in the U.S. and other international markets. RoundTable acquired a majority stake in the company back in April 2002. www.sabex.ca

 

ECI Partners has sold portfolio company MM Group Ltd. to France-based SR Teleperformance. MM Group is a Bristol, UK-based provider of outsourced contact center services. ECI initially sponsored a management buyout of MM Group back in October 2000. No terms of the more recent transaction were disclosed. www.mmgroup.co.uk

 

SeraCare Life Sciences Inc. (Nasdaq: SRLS) has acquired substantially all the assets of Genomics Collaborative Inc., a Cambridge, Mass.-based provider of genetic research services. The deal includes a net cash payment of approximately $800,000, assumption of certain liabilities, and 1.1 million shares of unregistered SeraCare common stock (valued at around $13.1 million, as of today’s trading price). Genomics Collaborative had raised around $60 million in total VC funding since its 1998 inception, including a $36.2 million deal in 2000 at a post-money valuation of approximately $115 million. Company investors included Invesco Private Capital Oracle Partners, TL Ventures, Flagship Ventures, Whitney & Co., AFTC Funds and the Economic Development Board of Singapore. www.genomicsinc.com

 

Jeff Fagnan has agreed to join Atlas Venture as a Waltham, Mass.-based partner, effective in August. He most recently served as a principal with Seed Capital Partners, and also has worked with Nortel Networks and Booz-Allen & Hamilton. www.atlasventure.com

 

Mark Hallock has agreed to join Helix Associates Ltd., a London-based private equity fund placement agent, as an executive director. The move takes effect in July, at which point Hallock will leave his managing director post with the London-based private fund group of Credit Suisse First Boston.

 

Warren Thaler, president of Gund Investment Corp., has joined the board of directors of Align Technology Inc. (Nasdaq: ALGN). www.invisalign.com

 

Herman Daems, chairman of GIMV, has been elected chairman of the European Venture Capital Association (EVCA), for the June 2004-June 2005 term. He replaces Jean-Bernard Schmidt, managing director with Sofinnova Partners. www.evca.com

 

KongZhong Corp., a Beijing, China-based provider of wireless interactive entertainment, has filed to raise $100 million via an IPO of American Depository Shares on the Nasdaq under proposed ticker symbol KONG. Significant shareholders include Draper Fisher Jurvetson ePlanet Ventures, Calver Investments and eGarden Ventures. www.kongzhong.com

 

MetroPCS Communications Inc., a Dallas, Texas-based provider of wireless communications services, has set its IPO offering price to $20-$22 per common share, and its number of offered shares to 24 million. The company – which spent time in bankruptcy court during the late 1990s – has raised around $400 million in total VC funding since its 1994 inception. Current significant shareholders include Accel Partners, Battery Ventures, Clarity Partners, Columbia Capital, General Motors Pension Fund, INVESCO, Los Angeles County Employee Retirement Association, M/C Venture Partners, Mitsui & Co., Technology Ventures, Wachovia Capital Partners and Whitney & Co. www.metropcs.com

 

Nephros Inc., a New York-based medical device company focused on end-stage renal disease, has filed to raise $17.5 million via an IPO of common stock on the Nasdaq under proposed ticker symbol NEPH. The company originally filed for a $17.5 million IPO in December 2002, but pulled the offering in March 2003 due to adverse market conditions. The company has received VC funding from significant shareholder Wasserstein Ventures. www.nephros.com

 

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