Greetings from the home office, where I’m resettling after two weeks worth of pisco sours in Peru. No real column this morning, since I haven’t had time to do a lick of reporting (had planned to get back to Boston last Thursday, but Delta had other ideas).
Before getting onto the business of business, thanks to all the readers who emailed pre-vacation advice, particularly in relation to the Inca Trail trek. Many of the items you told me to bring were invaluable (warm gloves, walking poles, altitude meds, etc.). One of the greatest experiences of my life, and something I’d recommend to folks who don’t mind a bit of wheezing on their holiday. I posted a poorly-shot video of the trek in First Read, for anyone who’s curious (fast-forward to final minutes for Machu Picchu).
But since I’d hate to leave you with nothing relevant, here’s a quick QuizTime:
Can you name the enterprise software company that is quietly liquidating, after raising more than $70 million in VC funding. Hint: Its headquarters is just a handful of miles from my home office…
Top Three
A U.S. bankruptcy judge yesterday approved the sale of substantially all of Chrysler’s assets to an investor group led by Fiat SpA.
CVC Capital Partners has offered approximately $3.2 billion for a 30% stake in UK government-owned Royal Mail, according to The Sunday Telegraph.
SeatWave Ltd., an online European ticket exchange, has raised $17 million in Series D funding. Accel Partners led the round, and was joined by return backers Atlas Venture, Fidelity Ventures, Mangrove Capital Partners and Adinvest. The company had previously raised $11 million.
VC Deals
Integral Development Corp., a Mountain View, Calif.-based operator of an electronic foreign exchange platform, has raised $11 million in new VC funding led by Adams Street Partners. The company had previously raised around $90 million since 1998, from firms like Accel Partners and Hudson Venture Partners.
Hara Software, a provider of online software to help companies reduce their carbon footprint, last year raised $6 million in first-round funding from Kleiner Perkins Caufield & Byers.
MashLogic, a Menlo Park, Calif.-based provider of a browser extension that provides contextual information on websites, has raised $500,000 in angel funding. Backers include Scott Kurnit, Reid Hoffman, Gil Penchina and Jeff Clavier. Seed investor Bessemer Venture Partners also participated.
RxVantage, a Providence, R.I.-based developer of medical software, has raised $500,000 in VC funding from The Slater Technology Fund.
HCL CleanTech, a developer of technology for converting cellulosic biomass into fermentable sugars, has raised an undisclosed amount of VC funding from Burrill & Co. and Khosla Ventures.
Buyout Deals
The Carlyle Group is in talks to acquire Silverton Bank, according to The Wall Street Journal. Carlyle had led a bid for Atlanta-based Silverton prior to its failure, but was rebuffed by regulators.
Court Square Capital Partners has agreed to buy Wyle Holdings Inc. from Littlejohn & Co. for an undisclosed amount. Wyle is an El Segundo, Calif.-based provider of engineering, professional and information technology services to military and civilian government agencies. It was acquired by Littlejohn in 2003, and currently generates approximately $800 million in annual revenue and has more than 3,800 employees.
Mistral Equity Partners has invested $19.55 million in juice-maker Jamba Inc. (Nasdaq: JMBA), as part of a $35 million convertible preferred stock placement. The remainder was purchased by Canada’s Serruya family.
OMERS has agreed to buy Nordco Inc., an Oak Creek, Wis.-based maker of railroad track equipment, from The Riverside Company. No financial terms were disclosed, although Riverside announced that the deal produced a 5.1x gross cash-on-cash return. GE Capital and Allied Capital provided acquisition financing. !
Grupo SAR, a Spanish provider of residential and home care services to the elderly, has raised an undisclosed amount of growth equity funding from Palamon Capital Partners and G Square.
PE-Backed M&A
Dispensing Solutions Inc., a Santa Ana, Calif.-based provider of pharma packaging and in-office medication dispensing solutions, has acquired Lake Forrest, Ill-based DRx Pharmaceutical Consultants Inc. from Wellinx Inc. No financial terms were disclosed. Dispensing Solutions is a portfolio company of HealthEdge Investment Partners.
ITEL Laboratories, a Jacksonville, Fla.-based provider of independent test lab services for the property industry, has acquired SidingMatch and its sister company RoofingMatch. No financial terms were disclosed. ITEL is a portfolio company of The Riverside Company.
PE-Backed Busts
Innovative Spinal Technologies, a Mansfield, Mass.-based developer of minimally-invasive treatments for spinal disorders, has filed for Chapter 7 bankruptcy protection. The company had ceased operations back in January, after raising around $75 million in VC funding from firms like JPMorgan Partners/Panorama Capital, MPM Capital and OrbiMed Advisors. The company’s website no longer works.
Firms & Funds
Anacap Financial Partners reportedly has raised €575 million for a new fund that would focus on acquisitions of European financial services companies. Limited partners include Goldman Sachs, Allianz and Morgan Stanley Alternative Investment Partners.
Brookstone Partners, a mid-market private equity firm, has launched an independently-operated investment advisory group called Brookstone Partners Asset Management.
PPF Partners has launched as a private equity firm focused on investments in Central and Eastern Europe. Its initial fund has held a first close on €615 million, including more than €300 million in commitments from Italian insurer Assicurazioni Generali (which will hold a 27.5% stake in ! the firm).
Human Resources
Bill Morrow will retire as managing director and chief operating officer of Mid Europa Partners, effective next month. He will be succeeded as COO by Jacques du Preez, who joins the firm from Pond Venture Partners.
Eric Hjerpe has joined venture firm Kepha Partners as a partner. He previously was with Atlas Venture.
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