peHUB Wire: Thursday, February 11, 2010

Top Three

Generac Holdings Inc., a Waukesha, Wis.-based maker of standby and portable generators, raised around $243.8 million via an IPO. The company priced 18.75 million shares at $13 per share, compared to plans to offer 20.3 million shares at between $15 and $17 per share. It will trade on the NYSE under ticker symbol GNRC, while J.P. Morgan and Goldman Sachs served as co-lead underwriters. CCMP Capital and Unitas Capital bought Generac for approximately $2 billion in late 2006. The post-IPO market cap is just over $852 million.

Penton Business Media Holdings Inc., a trade magazine publisher owned by MidOcean Partners and Wasserstein & Co., has filed for Chapter 11 bankruptcy protection.

SunPower Corp. (Nasdaq: SPWRA) has agreed to acquire Su! nRay Renewable Energy, a Malta-based developer of European solar energy projects. The deal is valued at approximately $277 million, including $235 million in cash and $42 million in a letter of credit and promissory notes. Last year, SunRay received a $200 million equity commitment from Denham Capital Management.

VC Deals

WebVisible Inc., an Irvine, Calif.-based provider of online advertising search solutions for small businesses, has raised $20 million in third-round funding, according to a regulatory filing. The company previously raised $17 million from Redpoint Ventures and Sutter Hill Ventures, and acquired VC-backed Adapt Technologies for an undisclosed amount.

Somnus Therapeutics Inc., a Bedminster, N.J.-based developer of a delayed-release sleep-maintenance therapy,has raised $15 million in Series A funding. CTI Life Sc! iences Fund led the round, and was joined by seed backer Care Capital.

One Block Off the Grid, a San Francisco-based solar energy group discount company and consumer advocate, has raised $5 million in Series A funding from New Enterprise Associates.

Zenverge Inc., a Cupertino, Calif.-based developer of advanced media integrated circuits, has raised an undisclosed amount of new VC funding. Return backers include DCM, Motorola Ventures and Norwest Venture Partners.

Buyouts Deals

EDF, a French power company, has set a mid-March deadline for bids on its three UK energy distribution networks. It is seeking to garner offers in excess of €4 billion.

Evonik, a German conglomerate partially backed by CVC Capital Partners, is considering the sale of a minority stake in its energy division.

Matalan, a British budget fashion retailer, has called off a sale process that had drawn interest from several private equity firms.

Vodafone has opted against bidding for German cable operator Kabel Deutschland, which is being circled by buyout firms like Advent Intern! ational, BC Partners and Carlyle Group. Kabel Deutschland could be sold for upwards of €5 billion, by current owners Providence Equity Partners and Ontario Teachers’ Pension Plan.

CoMc LLC, an Omaha, Neb.-based maker of floating porcelain tile systems, has raised an undisclosed amount of growth equity funding from Charter Oak Equity. CoMc makes products under the SnapStone and Avaire brands.

PE-Backed IPOs

Graham Packaging Co., a plastic container maker owned by The Blackstone Group, raised $167 million via an IPO. The company priced 16.7 million shares at $10 per share, compared to original plans to offer 23.33 million shares being at between $14 and $16 per share. It will trade on the NYSE under ticker symbol GRM, while Citi, Goldman Sachs and Deutsche Bank Securities served as co-lead underwriters.

PE-Backed M&A

RadPharm Inc., a Princeton, N.J.-based provider of medical image review services for clinical research, hasmerged with Medifacts International Inc., a Rockville, Md.-based cardiovascular core lab. The combined company will be based in Princeton, and be called CoreLab Partners. RadPharm has raised around $32 million in VC funding from Siemens Venture Capital, Ampersand Ventures, Adams Street Partners and Tang Capital Management. Medifacts has raised around $22 million from Ampersand Ventures and SV Life Sciences.

PE Exits

Sony Corp. has acquired iCyt Mission Technology, a Champaign, Ill.-based of high-performance cell sorters for use in disease research and agricultural biotechnology applications. No financial terms were disclosed. iCyt had raised over $8 million in VC funding from Open Prairie Ventures, Illinois Ventures and Fox Paine.

Firms & Funds

The Blackstone Group plans to reopen its Germany office this fall, according to The Wall Street Journal. It will be led by Axel Herberg, CEO of German packaging company Gerresheimer AG, who will formally join Blackstone in June.

Jesup & Lamont Inc. (Amex: JLI) has agreed to merge with Tri-Artisan Capital Partners, a New York-based merchant bank focused on private equity and M&A advisory services. Under terms of the agreement, Tri-Artisan shareholders would receive around $9.25 million worth of Jesup & Lamont common stock and $15.74 million of convertible preferred stock. The deal’s close is predicated on an equity capital raise.