peHUB Wire: Wednesday, June 9, 2010

Top Three

Virent Energy Systems Inc., a Madison, Wis.-based developer of a catalytic biomass processing system for making transportation fuels, has raised $46.4 million in third-round funding from return backers Shell and Cargill Ventures. The company previously raised nearly $40 million.

BWAY Holding Co. (NYSE: BWY), a North American supplier of general line rigid containers, said that its shareholders have approved a $20 per share buyout offer from Madison Dearborn Capital Partners. The deal values BWAY at approximately $915 million (including assumed debt). Bank of America Merrill Lynch and Deutsche Bank Securities will provide leveraged financing.

Sugar Inc., a San Francisco-based blog publisher, ha! s acquired FreshGuide Inc., operator of an online coupon site focused on urban women. No financial terms were disclosed. Sugar has raised over $30 million from firms like Sequoia Capital, while FreshGuide recently raised seed funding from Baseline Ventures, NBC Universal, Hatch Ventures and Ron Conway’s SV Angel fund.

VC Deals

Proterra Inc., a Golden, Colo.-based maker of clean commercial transit solutions like zero-emission city buses, has raised $20 million from MK Energy and Infrastructure.

Host Analytics, a Redwood City, Calif.-based provider of on-demand corporate performance management solutions, has raised $15 million in Series C funding. Next World Capital led the round, and was joined by return backers Advanced Technology Ventures, Trident Capital and StarVest Partners.

Tigo Energy, a Los Gatos, Calif.-based developer of technology to increase efficiency of commercial and residential solar installations, has raised $10 million in new VC funding. Inventec Appliances Corp. led the round, and was joined byClal Energy and return backers Matrix Partners, OVP Venture Partnersand ICV. The company has now raised $27 million to date.

Panaya, a provider of SaaS for automating SAP upgrades, has raised $7 million in Series C funding. Battery Ventures led the round, and was joined by return backers Benchmark Capital and Tamares Group. The company has offices in Israel and Silicon Valley.

Action Pharma AS, a Danish drug startup, has raised €5 millionin new VC funding. Return backers include Sunstone Capital, Global Life Science Ventures, SLS Invest and InnovationsKapital. The company’s lead drug candidate is for treating acute kidney injury in patients undergoing cardiac surgery under cardiopulmonary bypass.

BigDoor, a Seattle-based platformthat powers game-like mechanics for website publishers, has raised $5 million in second-round funding led by Foundry Group.

Complix NV, a Belgium-based developer of “alphabodies” for autoimmune and infectious diseases, has raised €5 million in Series A funding. Backers include Vesalius Biocapital, LRM and CRP Santé., a Dover, N.H.-based online secondary marketplace for timeshares, has raised $1.5 million in new funding from existing shareholder Edison Venture Fund. It previously raised $8.5 million.

JackRabbit Systems, a Santa Fe, N.M.-based provider of online travel software for destination and travel portal websites, has raised $1.33 million in VC funding from Kickstart Seed Fund and Sun Mountain Capital.

Buyouts Deals

CombineNet, a Pittsburgh-based provider of sourcing and optimization technologies, has raised an undisclosed amount of funding from Alta Communications.

PAI Partners has acquired French lab testing business Laboratoire Cerba from IK Investment Partners. No financial terms were disclosed, although press reports suggest a price of around €55 million.

PNC Equity Partners has acquired Oracle Elevator Co., a Dover Plains, N.Y.-based provider of elevator services. The seller was Jupiter Partners, while Oracle was advised by Sperry, Mitchell & Company. No financial terms were disclosed.

Transom Capital Group has acquired Uncle Milton Industries Inc., a maker of toys like the Ant Farm brand ant habitats. No financial terms were disclosed. Uncle Milton was advised on the deal by Sherwood Partners.

Vornado Realty Trust reportedly may take a stake in LNR Property Corp., a portfolio company of Cerberus Capital Management, as part of a possible debt-for-equity swap. Vornado lost out to Cerberus in a bid for LNR six years ago.

PE-Backed IPOs

Falck, a Danish ambulance group controlled by Nordic Capital, has abandoned plans for a listing on the Copenhagen stock exchange. Other shareholders include ATP Private Equity Partners and Swedish insurer Folksam.

NEXX Systems Inc., a Billerica, Mass.-based provider of processing equipment for wafer-level packaging applications, said that it plans to price its IPO at between $5.20 and $7 per share. No number of offered shares was listed. Canaccord Adams and CIBC are serving as co-lead underwriters. NEXX has raised around $33 million in VC funding, from firms like Sigma Partners and Enterprise Partners Venture Capital.

PE-Backed M&A

Aspen Surgical Products Inc., a portfolio company of RoundTable Healthcare Partners, has agreed to acquire the surgical blades and scalpels business (Bard-Parker) of Becton, Dickinson and Company. No financial terms were disclosed.

The Cook & Boardman Group, a portfolio company of Blue Point Capital Partners, has acquired SBS Commercial Door & Hardware, a distributor of commercial doors, door frames, architectural hardware and related accessories. No pricing terms were disclosed.RBC Bank provided leveraged financing.

Kraco Enterprises, a distributor of automotive aftermarket floor mats, has agreed to acquire Auto Expressions, the automotive aftermarket accessories business of Shell subsidiary Pennzoil-Quaker State Co. No financial terms were disclosed. Kraco is a portfolio company of Sun Capital Partners.

Norma Group, a developer of metal and plastic engineered joining technology solutions, has acquired R.G. Ray Corp., a maker of heavy duty engineered clamps. No financial terms were disclosed. Norma Group is a portfolio company of 3i Group. Biard advised R.G. Ray on the sale.

TEOCO, a Fairfax, Va.-based provider of routing and revenue management software for communication service providers, has agreed to acquire TTI Team Telecom International, a supplier of operations support systems (OSS) to communications service providers. The deal is valued at $58 million. TEOCO raised $60 million in equity funding from TA Associates, in exchange for a minority ownership position, two years ago.

PE Exits

Global Equity Capital has sold Sound Design Technologies, a maker of ultra-low-power semiconductor solutions, to ON Semiconductor Corp. (Nasdaq: ONNN). The deal included $22 million in cash and up to $10 million in earn-outs.

The Ontario Teachers’ Pension Plan is looking to sell its 35.3% stake in Maple Leaf Foods Inc. (TO: MFI), according to The Globe and Mail. The stake is valued at around C$450 million.

Firms & Funds

Kaplan, an educational subsidiary of The Washington Post Co., has formed a venture capital unit. No capitalization details were disclosed.

Human Resources

Andrew Lee has joined Battery Ventures as a principal in the firm’s Silicon Valley office. He previously was with VMWare, where he ledcorporate development, strategic investments and acquisitions.

Elizabeth de Saint-Aignan and Pamela Bliss Harris have joined the Boston office of TA Associates as a senior VP (tech) and a VP (investor relations), respectively. Saint-Aignan previously was with Nautic Partners, while Harris was with Capital Resource Partners.

Technology Crossover Ventures has promoted John Rosenberg from principal to general partner. He joined the firm in 2000, and currently sits on the boards of portfolio companies FX Alliance and ThinkCash.