peHUB Wire: Tuesday, March 23, 2010

Top Three

The Carlyle Group has agreed to sell Dallas-based aerostructure maker Vought Aircraft Industries to Triumph Group Inc. (NYSE: TGI), for $1.44 billion. The deal includes $525 million in cash and around 7.5 million in Triumph shares.

Aerohive Networks Inc., a Santa Clara, Calif.-based developer of “cooperative control” wireless LAN access points, has raised $23.5 million in Series C funding. Return back! ers included Kleiner Perkins Caufield & Byers, Northern Light Venture Capital and Lightspeed Venture Partners. Aerohive previously raised $24 million.

Calera Corp., a Los Gatos, Calif.-based developer of technology that can convert carbon dioxide into green building materials, has raised $15 million in private equity funding from Peabody Energy (NYSE: BTU). Calera previously raised VC funding from firms like Khosla Ventures.

VC Deals

SpectraWatt Inc., a maker of PV cells for solar manufacturers, has raised $41.4 million in convertible debt funding. Return backers included Cogentrix Energy (subsidiary of Goldman Sachs), Intel Capital and PCG Clean Energy & Technology Fund. The company was formed in 2008 as an independent spinout from Intel Corp., and received an initial $50 million in funding commitments.

PEG Bandwidth, a Dallas-based provider of customized, fiber-based backhaul networks, has raised $15 million in private equity funding from Associated Partners.

Tagsys, a provider of item-le! vel RFID infrastructure, has raised €8million in fourth-round funding. Return backers include Elliot Advisors, Endeavour Vision, Add Partners, DFJ Esprit and Saffron Hill Ventures. The company previously raised $80 million.

Nistica Inc., a Bridgewater, N.J.-based maker of optical modules for the delivery of high-bandwidth applications, has raised $6.5 million in Series C funding. Battelle Ventures led the round, and was joined by fellow return backers Novitas Capital, Technology Venture Partners and Fujikura. NTT Electronics Corp. came aboard as a new investor. Nistica previously raised around $17 million.

Aquapharm Biodiscovery, a UK-based marine biotech company focused on the development of antibiotics, has raised £4.2 million in new VC funding. Return b! ackers include Aescap Venture, Tate & Lyle Ventures, Hi ghlands and Islands Enterprise and NESTA., a UK-based online designer furniture retailer that connects buyers directly with manufacturers,has raised £2.5 million in VC funding. Backers include PROfounders Capital, Brent Hoberman (,Marc Simoncini and John Hunt.

Transactis, a Charlotte, N.C.-based provider of electronic bill presentation and payment solutions, has raised $2.5 million in new VC funding led by Metamorphic Ventures.

Jibe Inc., a New York-based developer of an ! online career search that incorporates social networking, has raised $875,000 in seed funding led by Polaris Venture Partners. Participating angels included Jason Calacanis, Ken Lerer, Ben Lerer, Josh Kushner and Jared Kushner.

Evident Software, a Newark, N.J.-based provider of intelligence for managing high-performance IT, has raised an undisclosed amount of Series B funding from return backers Next Stage Capital and Emerald Stage Capital.

Buyouts Deals

BAML Capital Partners has acquired a majority stake in Provo Craft & Novelty Inc. Seller Sorenson Capital will retain a minority equity stake, as will company management. No financial terms were disclosed. Robert W. Baird & Co. served as advisor to Provo Craft.

EMI Group, a portfolio company of Terra Firma Capital Partners, would need permission from lender Citigroup in order to license out its North American music assets, according to Reuters.

Grano Retail Investments has acquired tailored menswear brand Samuelsohn. No financial terms were disclosed, except that BDC provided leveraged financing.

Patria Investimentos reportedly is considering an offer from an undisclosed private equity firm, to sell its control stake in publicly-listed Brazilian IT company Tivit.

Sun Capital Partners has offered to invest between $50 million and $100 million in jeweler Zale Corp. (NYSE: ZLC), according to The Wall Street Journal. The preferred stock deal could give Sun a majority ownership position.

MGM has rece! ived takeover bids from Access Industries, Lions Gate Entert ainment and Time Warner Inc. Each of the offers reportedly is for between $1.2 billion and $1.5 billion. Current MGM shareholders are TPG Capital, Providence Equity Partners, DLJ Merchant Banking, Quadrangle Group, Sony Corp and Comcast Corp.

PE-Backed IPOs

Amadeus Global Travel said that it will move forward with plans to go public by June, via a €910 million IPO. The travel reservations company is controlled by BC Partners and Cinven, which have a combined 52.8% ownership stake.

Brenntag Holding, a German chemical distributor, has covered its €800 million IPO. The German company is selling 10.5 million new shares, while BC Partners, Bain Capital and company management are selling a combined 4.45 million shares.

Maxlinear Inc., a Carlsbad, Calif.-based fabless chipmaker, has moved up its scheduled IPO pricing from Wednesday night to tonight. The company is offeringaround 5.43 million common shares at between $11 and $13 per share, with Morgan Stanley and Deutsche Bank Securities serv! ing as co-lead underwriters. Itplans to trade on the NYSE under ticker symbol MXL. Maxlinearraised around $35 million in VC funding, from firms like U.S. Venture Partners (21.62% pre-IPO stake), Battery Ventures (13.75%), Mission Ventures (13.03%) and UMC Capital (7.09%).

PE-Backed M&A

Offerpal Media, a Fremont, Calif.-based provider of monetization platforms for social applications, virtual worlds and other online communities, has acquired Tapjoy, a provider of monetization and distribution services on the iPhone. No financial terms were disclosed. Offerpal Media has raised over $15 million in VC funding from D.E. Shaw Ventures, InterWest Partners and North Bridge Venture Partners.

PE Exits

Logility Inc., a provider of supply chain optimization solutions, has acquired Optiant Inc., a Burlington, Mass.-based provider of inventory planning and optimization solutions. The deal was valuedat $3.3 million in cash. Optiant had raised nearly $40 million in VC funding from firms like Battery Ventures, Castile Ventures and LogiSpring.

Milestone Partners has agreed to sell Interconnect Devices Inc., a provider of provider of spring contact probe-based technologies, to a division of Smiths Group PLC. The deal is valued at $185 million in cash, and is expected to close next month.

Firms & Funds

Babson Capital Management has formed an eight-personprivate equity and mezzanine debt, focused on the Asia-Pacific region. Most of its emphasis will be on mid-market companies located in Australia and New Zealand.

Human Resources

Bill Aulet has been named managing director of the MIT Entrepreneurship Center. He had been acting managing director, and serves as a senior lecturer at MIT Sloan School of Management.

Steve Mankoff and David Wroe have joined the strategic advisory board of Genstar Capital. Mankoff is the formersenior VP of global and technical services at Siebel Systems, while Wroe was chairman and CEO of Agency Management Systems (now Vertafore).

Gregory Stanger has joined online textbook rental company as chief financial officer. He previously was a venture partner with Technology Crossover Ventures.