peHUB Wire: Thursday, January 21, 2010

Top Three

Kabel Deutschland is picking banks for an IPO that could raise at least €1 billion. Providence Equity Partners owns an 88% stake in the German cable operator, while Ontario Teachers’ Pension Plan owns an 8% stake.

SolarCity Corp., a Foster City, Calif.-based provider of solar energy system installation and design, has secured $60 million from PG&E Corp. The deal is described as “tax equity financing” for solar installations for U.S. homes and businesses. SolarCity previously raised around $74 million from firms like First Solar Inc. and Draper Fisher Jurvetson.

Vance Vanier has joined personalized genomics company Navigenics as president and CEO. He previously was a partner with Navigenics investor Mohr Davidow Ventures. Navigenics has raised over $25 million in VC funding, from MDV, Kleiner Perkins and Sequoia Capital.

VC Deals

Elevation Pharmaceuticals Inc., a San Diego-based developer of aerosol therapies for patients with respiratory diseases, has raised $30 million in Series A funding.Backers include Canaan Partners, TPG Growth, Care Capital and Mesa Verde Venture Partners.

6 Waves, a Hong Kong-based developer of social games and apps, has raised $17.5 million in VC funding from Insight Venture Partners.

Tantalus Systems Corp., a Vancouver-based developer of smart grid data communications solutions, has raised C$14 million in VC funding led by Redpoint Ventures.

Kolltan Pharmaceuticals Inc., a New Haven, Conn.-based oncology therapeutics startup, has raised $8.5 million in Series B funding from Celtic Therapeutics Holdings and Tichenor Ventures. Kolltan also received another $1.5 million that can be applied either to a product development option with Celtic Therapeutics affiliate or converted into Series B stock. The company previously raised around $40 million in Series A funding from firms like Purdue Pharma, HBM BioVentures and Elm Street Ventures., a Boston-based developer of marketing solutions using group buying mechanisms and leveraging social media, has raised $5.5 million in VC funding from Matrix Partners. Matrix partner Nicholas Beim will joined the BuyWithMe board of directors.

CrowdFlower, a San Francisco-based provider of crowd-sourced labor solutions for businesses, has raised $5 million in Series A funding, co-led by Trinity Ventures and Bessemer Venture Partners. The company previously raised a $1.2 million angel round.

Audinate Pty Ltd., a Sydney, Australia-based provider of digital media networking solutions, has raised A$4 million in new VC funding from return backers Starfish Captial and Innovation Capital.

Celsius, a Swiss developer of luxury mobile devices, has raised €3.3 million in VC funding. Sofinnova Partners led the round, and was joined by AGF Private Equity.

CareCloud, a Miami, Fla.-based provider of Web-based physician practice software and services, has raised $2.3 million in VC funding. No investor information was disclosed.

RIB Software AG, a German provider of software for the construction sector, has raised an undisclosed amount of VC funding from SAP AG and Hasso Plattner Ventures.

Buyouts Deals

Ares Management and the Ontario Teachers’ Pension Plan have completed their acquisition of Simmons Bedding Co., via a pre-packaged restructuring plan. The mattress maker had been acquired for $1.1 billion by THL Partners in 2003, but filed for Chapter 11 bankruptcy protection last fall. Simmons now has around $450 million in outstanding debt, compared to around $1 billion last September.

Atrium Cos., a Dallas-based maker of windows and patio doors, has filed for Chapter 11 bankruptcy protection. It has agreed to a reorganization plan that would include $125 million in new ! equity funding from Kenner & Co. and Golden Gate Capital.

Metro-Goldwyn-Mayer is considering a prepackaged bankruptcy, according to Reuters. The company also is considering a sale, having received several first-round bids. The debt-laden studio is currently owned by Providence Equity Partners, TPG Cap! ital, Sony Corp. and Comcast.

Prudential Financial has short-listed CVC, MBK Partners, KB Financial Group, Macquarie and Hanwha Securities for its two South Korean units. The deal is expected to garner just under $500 million. Deutsche Bank is managing the auction.

Riverstone Holdings has completed its $207 million acquisition of Seajacks International, owner and operator of two UK-based vessels that can install offshore wind turbines.

Uno Restaurant Holdings has filed for Chapter 11 bankruptcy protection, and said it has agreed to a debt-for-equity swap with bondholders. Centre Partners had acquired a majority stake in the company in 2005.

PE-Backed IPOs

JinkoSolar Holding Co. Ltd., a Chinese developer of silicon wafers for use in solar paneling, has filed for a $100 million IPO. It plans to trade on the NYSE under ticker symbol JKS, with Goldman Sachs (Asia) and Credit Suisse serving as co-lead underwriters. The company raised $35 million in 2008 from CIVC, Shenzhen Capital Group Co. and Pitango Venture Capital.

PE-Backed M&A

Gambro, a portfolio company of private equity firm Bridgepoint, has acquired CHF Solutions Inc., a Brooklyn Park, Minn.-based maker of ultrafiltration devices to treat fluid overload. No financial terms were disclosed. CHF Solutions had raised nearly $60 million in VC funding, from Ascension Venture Partners, MPM Capital and SV Life Sciences.

Ifbyphone, a Skokie, Ill-based provider of voice infrastructure and applications to SMBs, has acquired CloudVox, a Seattle-based cloud telephony startup. No financial terms were disclosed, although a regulatory filing indicates that Ifbyphone recently raised $1.2 million in “debt” and “option, warrant or other right to acquire another security.” IfByPhone previously raised over $7 million in VC funding from Apex Venture Partners and Origin Ventures co-led round, and ! were joined by Spring Mill Venture Partners and Illinois Innovation Accelerator Fund. It also raised an undisclosed amount of venture debt from Blue Crest Capital Finance.

Mobixell Networks, a San Jose, Calif.-based provider of mobile multimedia and advertising solutions, has acquired Toronto-based mobile Internet company 724 Solutions. No financial terms were disclosed. Mobixell has raised around $29 million in VC funding, from firms like Apax Partners, Comverse,Intel Capital, and SMAC Partners. Austin Ventures took 724 Solutions private in 2006, for approximately $18.5 million.

NewsGator Technologies Inc., a Denver-based provider of content aggregation tools and services, hasagreed to acquireTomoy! e, an enterprise social computing company with offices in Quebec and Washington, D.C. No financial terms were disclosed. NewsGator has raisedover $35million in VC funding, from firms like Masthead Venture Partners, Mobius Venture Capital and Vista Ventures.

Voxeo Corp., an Orlando, Fla.-based provider of communications password solutions,has acquired ClackPoint, provider of a real-time multimedia collaboration platform. No financial terms were disclosed. Voxeo last year raised $9 million in venture recap funding from North Atlantic Capital and the Florida Growth Fund. Before that, it had secured more than $70 million in funding.

PE Exits

Charterhouse Group has agreed to sell Amerifit Brands Inc., a Cromwell, Conn.-based provider of over-the-counter consumer health and wellness products, to Martek Biosciences Corp. (Nasdaq: MATK) for $200 million in cash. Charterhouse originally invested $80 million into Amerifit in 2005.

D.C. Capital Partners has sold intelligence technology company National Interest Security Co. to IBM. No financial terms were disclosed, although Reuters reports that D.C. Capital will take 9x its original $19.6 million investment.

Ripplewood Holdings has agreed to sell its 25.5% stake in Japan’s Columbia Music Entertai! nment (T: 6791) to Faith Inc. (T: 4295), for $27.3 million.

Firms & Funds

The Blackstone Group has applied for a UK banking license.

EDG Partners, an Atlanta-based private equity firm focused on underperforming healthcare companies, is raising upwards of $150 million for its second fund, according to a regulatory filing. It already has secured $10.5 million in capital commitments.

Prudential Capital Partners has closed its third mezzanine fund with $965 million in capital commitments.

The Texas Permanent School Fund has hired two investment managers to oversee its first investments in private equity. The $22 billion system has retained Credit Suis! se Customized Fund Investment Group and NB Alternative Advisers as discretionary advisors, each with $650 million mandates.

Human Resources

William Clark, director of the $68.7 billion New Jersey Division of Investment, plans to resign next month, according to Pensions & Investments. He reportedly has accepted another job, although no specifics have yet been disclosed.

Element Partners, a Philadelphia-based VC firm focused on the cleantech and energy markets, has promoted Sam Gabbita to the position of partner. He joined the firm in 2006 as a senior associate, and leads the firm’s investment efforts in the alternative fuels space.

Oliver Wriedt has joined Providence Equity Partners as a managing director in the firm’s capital markets group. He previously was a partner and co-head of marketing and structured products with GoldenTree Asset Management.

Scott Miller, CEO of Six Sigma Academy, has joined General Atlantic as a special advisor. He is the former president of Hyatt Hotels Corp. and United Infrastructure Co.

Winona Capital Management has promoted Jason Starr to vice president. He joined the firm in 2007, and serves as a director of Winona portfolio company Boloco restaurants.