Term Sheet

The latest on private equity, M&A, deals and movements — from Wall Street to Silicon Valley

Mergers & acquisitions

January 10, 2013: 10:20 AM ET

Acuity Brands Inc. (NYSE: AYI) has acquired the assets of Adura Technologies Inc., a San Francisco–based developer of wireless controls and energy management solutions. No financial terms were disclosed. Adura had raised over $25 million in VC funding from firms like NGEN PartnersVantagePoint Venture Partners and Claremont Creek Ventureswww.acuitybrands.com

International Finance Corp. is part of an investor group looking to sell its 26% stake in Turkish hospital chain Universal Saglik Yatirimlari Holding AS, according to Bloomberg. Other members of the group, which paid $140 million for the position in 2011, include ADM Capital (Hong Kong) and PGGM NV (The Netherlands). www.ifc.org

OPKO Health Inc. (NYSE: OPK) has agreed to acquire Cytochroma, Markham, Ontario-based developer of pharma treatments for those suffering from vitamin D insufficiency and secondary hyperparathyroidism associated with chronic kidney disease. The deal is valued at upwards of $290 million in cash and stock, including a $100 million up-front stock payment and $190 million in potential earnouts. Cytochroma has raised more than $85 million in VC funding from firms like Business Development Bank of Canada, Caisse de depot et placement du Quebec, Canadian Medical Discoveries Fund, Covington Capital, GrowthWorks, Mitsubishi Tanabe Pharma, Novo AS, VenGrowth and Venturelink Brighter Future Fund. www.cytochroma.com

Summit Midstream Partners (NYSE: SMLP) has agreed to acquire Bear Tracker Energy, a Denver-based midstream energy company with assets in Colorado and North Dakota, from GSO Capital Partners. The deal is valued at $513 million, and is expected to close later this quarter. www.beartrackerenergy.com

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Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

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