peHUB Wire: Thursday, May 20, 2010

Top Three

The Carlyle Group and TPG Capital have increased their offer for Australian hospital operator Healthscope (AX: HSP), and said they do not have plans to break up the company. The revised bid would value Healthscope at A$1.8 billion (US$1.5b), or A$5.75 per share. The original offer was A$5.50 per share.

BrightSource Energy Inc., an Oakland, Calif.-based developer of utility-scale solar thermal power plants, has raised $150 million in Series D funding. Alstom and CalSTRS were joined by return backers VantagePoint Venture Partners, Morgan Stanley and Draper Fisher Jurvetson. The company previously raised $172 million.

Yair Landau has joined MK Capital as a Los Angeles-based partner. He previously was vice chairman of Sony Pictures Entertainment and president of Sony Pictures Digital.

VC Deals

NeuroTherapeutics Pharma Inc., a Chicago-based developer of therapies for central nervous system (CNS) disorders, has raised $43 million in Series B funding. Fidelity Biosciences, MPM Capital and S.R. One Ltd. co-led the round, and were joined by Pfizer and return backers Novo Ventures and Thomas McNerney & Partners.

1Life Healthcare, a San Francisco-based operator ofa network of boutique medical practices, has raised $15 million in new VC funding, according to a regulatory filing. DAG Ventures and Oak Investment Partners were joined by return backer Benchmark Capital. The company previously raised $11.5

Inova Labs Inc., an Austin, Texas-based maker of portable and stationary oxygen concentrators, has raised $10 million in Series A funding from Three Arch Partners.

LibreDigital Inc., an Austin, Texas-based provider of an online warehouse and distribution platform for book and newspaper publishers, has raised $8.1 million in Series C funding. Return backers include Adams Capital Management and Triangle Peak Partners. The company previously raised around $19 million from Adams, Triangle Peak, HarperCollins Publishers, The New York Times Co. and Noro-Moseley Partners.

Movidius, a Dublin, Ireland-based chipmaker focused on the mobile 3D video market, has raised $7.5 million in Series B funding. Return backers include Celtic ! House Venture Partners, Capital E, Emertec Gestion andAIB Seed Capital Fund.

RewardsNow, a Dover, N.H.-based provider of marketing services for the financial industry, has raised $7.5 million from Edison Venture Fund.

Clean Filtration Technologies Inc., a Redwood City, Calif.-based developer of water treatment technology, has raised $3.5 million in Series B funding led by Dow Venture Capital.

DOTGO, a New York-based developer of a mobile publishing platform, has raised an undisclosed amount of Series A funding from Epic Ventures and TomorrowVentures.

Buyouts Deals

Avolon, an aircraft leasing company, has raised $750 million in equity commitments from Cinven, CVC Capital Partners and Oak Hill Capital Partners. It also has secured a $400 million warehouse debt financing facility.

Barcalounger Corp, reclining chair maker owned by Hancock Park Associates, has filed for Chapter 11 bankruptcy protection and agreed to sell its assets.

Cinven’s plan! ned purchase of French medical diagnostics business Sebia is being financed with a €340 million loan provided by BNP Paribas, Citigroup and Commerzbank.

Kohlberg & Co. has sold U.S. Infrastructure Corp., a provider of outsourced sub-surface utility locating services in the U.S., to OMERS Private Equity. No financial ! terms were disclosed for the deal, which was managed by Harris William s & Co.

Lion Capital, Permira, Doughty Hanson and Charterhouse reportedly are among those eyeing Unilever’s Italian frozen food unit (Findus Italy).

Marathon Oil Corp. (NYSE: MRO) has agreed to sell most of its refining and marketing assets in Minnesota to three private equity firms for more than $800 million. The buyers are ACON Investments, NTR Partners and TPG Capital.

Novell Inc. has received takeover interest from around 20 bidders, according to the WSJ.

Sun Capital Partners has acquired Captain D’s Seafood Kitchen, the nation’s largest casual seafood restaurant chain. The seller was Sagittarius Brands, a portfolio company of Charlesbank Capital Partners. No financial terms were disclosed.

PE-Backed IPOs

Accretive Health Inc., a Chicago-based provider of healthcare revenue cycle management services, raised around $120 million in its IPO. The company priced 10 million shares at $12 per share, compared to its plan to sell 13.33 million shares at between $14 and $16 per share. It will trade on the NYSE under ticker symbol AH, while Goldman Sachs and Credit Suisse served as co-lead underwriters. Oak Hill Capital Partners held a 21.7% pre-IPO ownership position.

ReachLocal Inc., a Woodland Hills, Calif.-based provider of online advertising solutions for local businesses, raised around $54.17 million via its IPO. The company priced 4.17 million shares at $13 per share, compared to an offering range of between $17 and $19 per share. The company will trade on the Nasdaq under ticker symbol RLOC, while J.P. Morgan and BoA Merrill Lynch served as co-lea! d underwriters. ReachLocal had raised around $68 million in VC funding, from VantagePoint Venture Partners (53.22% pre-IPO stake), Rho Ventures (12.94%) and Galleon Group (6.76%).

PE Exits

Altus Capital Partners and Dunrath Capital have sold Gichner Holdings Inc., a Dallastown, Penn.-basedmaker of shelters for the U.S. military, to Kratos Defense & Security Solutions Inc. for $133 million in cash.

Vitamin Shoppe Inc. (NYSE: VSI) has priced its secondary offering of nearly 6.24 million shares at per share. Sellerswere expected to include private equity firm Irving Place Capital, whichheld a 52.7% pre-offering position (14.25m shares). The retailer last fall raised $162.1 million in its IPO, pricing its shares at $17 a piece.

PE-Backed M&A

maxIT Healthcare LLC, a Westfield, Ind.-based portfolio company of Riordan, Lewis & Haden Equity Partners, has merged with Parker, Colo.-based Ingenuity Solutions Group Inc. No finacial terms were disclosed. The combined company will provide healthcare ERP system solutions to the healthcare IT professional services market.

Firms & Funds

The European Bank for Reconstruction and Development said it would invest $50 million into a fund-of-funds focused on Russia, other ex-Soviet states and Turkey. The vehicle aims to raise up to $300 million, and is being managed by Switzerland-based Alpha Associates Group.

Human Resources

Terry Bartz has been named managing partner of the new Minneapolis office of turnaround firm MorrisAnderson. He previously was COO of Verifications Inc.

Eric Fromme has joined Orange County law firm Rutan & Tucker LLP as senior councsel in the firm’s ban! kruptcy/financial practices group. He previously was counsel with Hughes Hubbard & Reed.