peHUB Wire: Tuesday, May 5, 2009

Top Three

The State of Connecticut has terminated its investment agreement with Aldus Equity, following charges that the firm was involved in the New York pension kickback scandal. The Los Angeles Fire and Police Pension Funds will hold a vote this Thursday on the future of its relationship with Aldus.

Milestone Partners has purchased Avure Technologies from The Gores Group for an undisclosed amount. Avure is a Kent, Wash.-based provider of contained, high-pressure processing systems. It was originally acquired by Go! res Group in October 2005.

Constellation Ventures, a former affiliate of Bear Stearns Asset Management, has become part of Highbridge Capital Management’s principal investment effort. It also has closed a new fund, and renamed itself Constellation Growth Capital. The firm will continue to be led by Clifford Friedman.

VC Deals

Onestop Internet, a Los Angeles-based e-commerce technology and distribution partner, has raised $13.3 million in Series A funding from Bessemer Venture Partners.

Prematics Inc., a Bethesda, Md.-based provider of electronic prescribing services, has secured $10.78 million of a $12 million Series C round, according to a regulatory filing. The company had previously raised around $26 million from firms like General Catalyst Partners, Health Evolution Partners and Foundation Capital.

Dune Networks, a Sunnyvale, Calif.-based maker of networking devices, has raised $8.3 million in additional Series B funding, bringing the round total to $20.3 million. Evergreen Venture Partners led the new tranche, and was joined by return backers U.S. Venture Partners, Alta Berkeley Ventures, Aurum Ventures, Jerusalem Venture Partners, Pitango Venture Capital and undisclosed strategic investors.

Sanovia Corp., a Philadelphia-based provider of technology and services to assist managed care organizations in managing their pharma costs, has raised $8 million in Series C funding. Chrysalis Ventures led the round, and was joined by return backers HLM Venture Partners and Claritas Capital. The company has now raised $16 million in total VC funding.

Gist Inc., a Seattle-based provider of an online service that combines the implicit web with email, has raised $6.75 million in Series A funding. Foundry Group led the round, and was joined by return backer Vulcan Capital.

Azuki Systems (fka: peermeta), an Acton, Mass.-based provider of mobile media software, has raised $6 million in additional Series A funding, bringing the round total above $12 million. Return backers included Kepha Partners and Sigma Partners.

Powerit Solutions, a Seattle-based provider of intelligent energy management and efficiency systems, has raised $6 million in new VC funding. Siemens Venture Capital and ArcelorMittal’s Clean Technology Fund were joined by return backers @Ventures and Expansion Capital Partners.

NABsys Inc., a Providence, R.I.-based provider of electronic, solid-state DNA sequencing, has raised $4 million in new VC funding. Point Judith Capital led the round, and was joined by return backers like Slater Technology Fund.

Vermedx Inc., a Burlington, Vt.-based provider of decision-support healthcare IT for the diabetes market, has raised $500,000 in Series A funding led by Fresh Tracks Capital.

Buyout Deals

Platinum Equity has completed its acquisition of The San Diego Union-Tribune newspaper from The Copley Press Inc. The all-equity deal reportedly was worth less than $50 million.

Tollgrade Communications Inc. (Nasdaq: TLGD) has agreed to sell the assets of its cable status monitoring product line to an investor group that includes The Hawthorne Group and Rosetta Capital. The deal is valued at $3.15 million, including $2.75 million in cash and $0.4 million in a seller-held note payable over two years.

Zotye Auto, a Chinese SUB maker, is in talks to sell between 20% and 30% of itself to an investor consortium led by SND Ventures Group, a Chinese private equity firm backed by the Suzhou government. The deal is expected to be worth approximately $106 million.

PE-Backed IPOs

Maxum Petroleum Holdings Inc., an Old Greenwich, Conn.-based energy logistics company, has withdrawn registration for an IPO of 16.7 million shares at between $14 and $16 per share. No explanation was given, although the move may be related to a $300 million private equity commitment that the company raised late last year from Metalmark Capital and Waud Capital Partners. Maxum Petroleum was formed in October 2003 as an acquisition platform sponsored by Waud, Northwest Capital Appreciation and RBC Capital Partners. Northwest and RBC each retain an equity interest! .

Nycomed, a Swiss drugmaker, said that it is still aiming for an IPO, and that it hopes to pick a U.S. licensing partner for its “smoker’s lung” drug (Daxas) by the end of June. The WSJ had said in March that Goldman Sachs had been hired to find a buyer for Nycomed, but newer reports suggest that the bank’s primary charge was to find a Daxas partner. Nordic Capital holds a 51% stake in Nycomed, while other shareholders include AlpInvest, Blackstone Group and DLJ Merchant Banking Partners.

PE-Backed M&A

Attensity Group has formed as a business intelligence and information management platform, via the rollup of three companies: Attensity Corp., Empolis GmbH and Living-e AG. No financial terms were disclosed. Attensity Corp. has raised over $30 million in VC funding, from firms like Highway 12 Ventures, Palomar Ventures, Jefferson Partners, RD Webber, Triangle Venture Capital and Village Ventures.

SpringSource, a San Mateo, Calif.-based provider of an enterprise Java application server, has acquired Hyperic, a provider of monitoring and management software for Web applications. No financial terms were disclosed. SpringSource has raised over $15 million in VC funding from Benchmark Capital and Accel Partners. Hyperic had raised just under $10 million, from the same two firms.

Westec Intelligent Surveillance, a Dallas-based provider of remote video monitoring services, has acquired Vyne Industries, an Atlanta-based provider of video surveillance and monitoring solutions for the quick-service restaurant industry. Westec recently raised $20 million from Argonaut Private Equity, Egis Capital Partners and return backers like Clarity Partners.

PE Exits

The Azrieli Group has submitted the winning bid to buy a 4.84% stake in Israel-based Bank Leumi from Cerberus Capital Management and Gabriel Capital Corp. The deal is valued at approximately $178 million.

BakBone Software Inc. (OTC BB: BKBO) has acquired certain assets of Asempra Technologies Inc., a Sunnyvale, Calif.-based provider of real-time recovery management solutions. No financial terms were disclosed. Asempra has raised around $46 million in VC funding, from firms like Menlo Ventures, Pol! aris Venture Partners and U.S. Venture Partners.

BankServ has acquired the assets of Commerciant, a Houston, Texas-based provider of mobile, handheld payment processing hardware and processing technology. No financial terms were disclosed. Commerciant had raised over $2.5 million in VC funding from firms like Aegis Venture Funds and Advantage Capital Partners.

Kadoink of San Francisco has shut down its mobile messaging service, as it seeks a buyer. The company raised nearly $7 million in Series A funding from Sutter Hill Ventures in January 2007, but was taken over last month by creditor Hercules Technology Growth Capital.

Firms & Funds

CBPE Capital, a UK mid-market private equity firm, has held a £270 million first close for its eighth fund, which already has over £300 million in commitments. A final close is expected later this year. Berchwood Partners is serving as placement agent.

Human Resources

John Brooks, a co-founder of Prism VentureWorks, has joined life sciences I-bank Johnston Blakely & Co. as a senior advisor.

Tad Flynn has joined Houlihan Lokey as managing director of corporate finance. He previously was with UBS as head of the Alternative Capital Markets Group.

Ross Pillari has joined the U.S. advisory board of CVC Capital Partners. He served as chairman and CEO of BP America Inc. between 2001 and 2006.

Tim Mullany has joined Consumer Capital Partners as chief financial officer. He previously was CFO of Global Portfolio Advisors.