Term Sheet

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Deals of the day: OPower preps IPO

February 12, 2014: 1:02 PM ET

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Venture Capital Deals

Kaltura, a New York-based open-source video platform, has raised $47 million in new VC funding. SAP Ventures, Nokia Growth Partners, Commonfund Capital and Gera Ventures (Brazil) were joined by return backers .406 Ventures, Nexus Venture Partners, Intel Capital, Mitsui & Co. Global Investment and Silicon Valley Bank. http://www.kaltura.com

Voyager Therapeutics, a new gene therapy company focused on fatal and debilitating CNS diseases, has been launched with $45 million in Series A funding from Third Rock Ventures. http://www.voyagertherapeutics.com

Welltok Inc., a Denver-based health optimization platform, has raised $22 million in Series C funding. NEA led the round, and was joined by IBM, Qualcomm Ventures and return backers Emergence Capital Partners, InterWest Partners, Miramar Venture Partners and Okapi Venture Capital. http://www.welltok.com

Axine Water Technologies, a Canadian provider of chemical-free solutions for treating polluted industrial wastewater, has raised C$5.6 million in Series A funding. The Roda Group led the round, and was joined by return backers Chrysalix Energy Venture Capital and BDC Venture Capital. http://www.axinewater.com

Sideband Networks, a Sunnyvale, Calif.-based provider of app-aware performance monitoring solutions, has raised $6 million in Series A funding. No investor information was disclosed. http://www.sidebandnetworks.com

EDITD, a London-based provider of real-time market data and analytics for the fashion and apparel industry, has raised $4.4 million in new VC funding from firms like Frog Capital and return backer Index Ventures. http://www.editd.com

Yevvo, an Israeli live-streaming app, has raised $3.7 million in Series A funding led by Aleph. http://www.yevvo.com

Tapiture, a Venice, Calif.-based site that lets users discover/share content and purchase related products, has raised $2.25 million in seed funding (including the conversion of a prior note). JUMP Investors led the round, and was joined by individual angels like Brad Keywell, Barry Sternlicht, Hilary Swank, Dwight Howard and Amar'e Stoudemire. http://www.tapiture.com

Bluefly Inc., a New York-based fashion ecommerce company, has raised an undisclosed amount of new venture funding from CrunchFund, with CrunchFund partner Pat Gallagher joining the Bluefly board of directors. Existing shareholders include Clearlake Capital Group. http://www.bluefly.com

Private Equity Deals

Abril Educação SA, a listed Brazilian education content company, is in talks to sell between a 20% and 25% ownership stake for upwards of $187 million, according to Valor Economico. Suitors include The Carlyle Group and Kohlberg Kravis Roberts & Co. http://www.abrileducacao.com.br

Alliance Laundry Holdings, a portfolio company of Teachers' Private Capital, has agreed to acquire Primus Laundry Equipment Group, a Belgium-based provider of commercial washer-extractors, tumbler dryers and related equipment under the Lavamac and Deli brands. No financial terms were disclosed. http://www.alliancelaundry.com

Ashland Inc. (NYSE: ASH) received three bids for its water chemicals group, according to Bloomberg. A joint offer from The Blackstone Group and Danaher Corp. values the unit at nearly $2 billion, while rival offers came from Clayton Dubilier & Rice and Rhone Group. http://www.ashland.com

The Carlyle Group is among several private equity firms to have been contacted by the founding family of Wm Morrison Supermarkets (LSE: MRW), which is seeking to take the British grocer private, according to Bloomberg. A deal could be valued at more than $11.5 billion, with Apax Partners and CVC Capital Partners also receiving feelers. http://www.morrisons.co.uk

Excellence Engineering, a Tulsa, Okla.-based engineering services company focused primarily on the energy sector, has raised an undisclosed amount of growth capital funding from Argonaut Private Equity. http://www.eeinco.com

GTCR Golder Rauner is in advanced talks to acquire Callcredit Information Group Ltd., a UK-based provider of consumer data management services, according to Bloomberg. The deal could be valued at upwards of $790 million. Current Callcredit owners are AlpInvest Partners and Vitruvian Partners. http://www.callcredit.co.uk

Hony Capital is in "advanced talks" to join a $2.8 billion buyout bid for China-focused online gaming company Giant Interactive Group (NYSE: GA), which already includes Baring Private Equity Asia and Giant chairman Yuzhu Shi. http://www.ga-me.com

Northern Seed LLC, a specialty agriculture acquisition platform sponsored by Lariat Partners, has acquired Montana Seed and Chemical LLC, a Billings, Mont.-based distributor of certified wheat seed and other small grains. MSC also provides seed conditioning and treatment services to growers. No financial terms were disclosed. http://www.lariatpartners.net

Parfums de Coeur, a Darien, Conn.–based provider of mass-market fragrances and specialty bath salts, has acquired personal care brand Dr. Teal's Therapeutic Solutions from Advanced Beauty. No financial terms were disclosed. Parfums de Coeur is a portfolio company of Yellow Wood Partners. http://www.parfumsdecoeur.com

Paula Deen Ventures, a newly-formed holding company for chef Paula Deen's restaurants, cookbooks and other businesses, has raised between $75 million and $100 million in private equity funding from Najafi Cos. http://www.najafi.com

Tall Oak Midstream LLC, an Oklahoma City-based midstream energy company focused on the Mid-Continent, has secured an initial commitment of up to $100 million from EnCap Flatrock Midstream. The company is led by Ryan Lewellyn, former managing director of DCP Midstream's Mid-Continent business. In press interviews, Lewellyn said that EnCap may ultimately commit up to another $400 million. http://www.talloakmidstream.com

Vinci (Paris: DG) said that it is in exclusive talks to sell a 75% stake in its auto parking business (Vinci Park) to Ardian and Credit Agricole for €1.96 billion. Vinci would retain the other 25% position. http://www.vi


Eagle Pharmaceuticals Inc., a Woodcliff Lake, N.J.-based developer of injectable drug products, raised $50 million in its IPO. The company priced 3.4 million shares at $15 per share ($14-$16 range), for an initial market cap of around $208.5 million. It will trade on the Nasdaq under ticker symbol EGRX, while Piper Jaffray and William Blair served as lead underwriters. Shareholders include ProQuest Investments (43.3% pre-IPO stake) and GE Pension Trust (9%).

Flexion Therapeutics Inc., a Woburn, Mass.-based developer of therapeutics for musculoskeletal disorders, raised $65 million in its IPO. The company priced 5 million shares at $13 per share ($12-$14 range), for an initial market cap of around $192 million. It will trade on the Nasdaq under ticker symbol FLXN, while BMO Capital Markets served as lead underwriter. Shareholders include Versant Ventures (29.76% pre-IPO stake), Sofinnova Capital (19.25%), Pfizer Inc. (17.32%), 5AM Ventures (15.52%) and Novo AS (11.2%). http://www.flexiontherapeutics.com

OPower, an Arlington, Va.-based provider of energy efficiency and smart grid software, has filed a confidential draft IPO registration, according to The Wall Street Journal. Morgan Stanley and Goldman Sachs have been picked to lead the offering. OPower has raised over $65 million in VC funding from firms like New Enterprise Associates, Accel Partners and Kleiner Perkins Caufield & Byers . http://www.opower.com

Recro Pharma Inc., a Malvern, Penn.-based developer non-opioid therapeutics for the treatment of post-operative pain, has set its IPO terms to 2.5 million shares being offered at between $10 and $12 per share. The pre-revenue company plans to trade on the Nasdaq under ticker symbol REPH, with Aegis Capital serving as lead underwriter. Shareholders include SCP Vitalife. http://www.recropharma.com

PQ Holdings Inc., a Malvern, Penn.-based maker of specialty inorganic performance chemicals, has filed for a $450 million IPO. It plans to trade under ticker symbol PQH, with BofA Merrill Lynch, Credit Suisse and J.P. Morgan serving as lead underwriters. The company reports $19.5 million in net income on $836 million in revenue for the first nine months of 2013, compared to $32 million in net income on $832 million in revenue for the year-earlier period. The Carlyle Group acquired PQ in 2007 for around $1.52 billion, and previously was reported to be pursuing a dual-track exit process. http://www.pqcorp.com

Talmer Bancorp, a Tory, Mich.-based regional banking network in the Midwestern U.S., raised $202 million in its IPO. The company priced 15.55 million shares at $13 per share ($12.50-$14.50 range), and will trade on the Nasdaq under ticker symbol TLMR. Keefe, Bruyette & Woods and J.P. Morgan served as lead underwriters. Shareholders include W.L. Ross & Co. (24.1% pre-IPO stake), Universities Superannuation Scheme (9.4%), Manulife Asset Management (9.4%), Howard Hughes Medical Institute (6.7%), Greenlight Capital (5.1%) and Goldman Sachs Asset Management (4.6%). http://www.talmerbank.comnci.com


Imerys (Paris: NK) has agreed to acquire Illinois-based specialty materials company AMCOL International Corp. (NYSE: ACO) for $1.6 billion in cash and the assumption of debt. The $41 per share deal represents an 11.65% premium to yesterday's closing price for AMCOL shares. http://www.imerys.com

SearchDex, a Dallas-based provider of digital marketing solutions, has acquired Altruik, a New York–based provider of search engine optimization technology. No financial terms were disclosed. Altruik had raised over $7 million in VC funding from First Round Capital, Javelin Venture Partners, DFJ Gotham, Tribeca Venture Partners, Centurion Venture Partners and Zelkova Ventures. http://www.altruik.com

Summit Partners has hired Jefferies to find a buyer for National Veterinary Associates, an Agoura Hills, Calif.-based veterinary hospital chain, according to Reuters. A deal could be valued at nearly $700 million. http://www.nvaonline.com

Sungy Mobile Ltd. paid "over $50 million" to acquire GetJar, a San Mateo, Calif.-based free mobile app store, according to GigaOm. GetJar had raised over $40 million in VC funding from Accel Partners and Tiger Global Management. http://www.getjar.com

Yahoo (Nasdaq: YHOO) has acquired New York-based photo-sharing app Wander. No financial terms were disclosed. Wander, a Techstars company, had raised around $1.2 million from firms like NextVenture Ventures, SoftTech VC, SV Angel, Google Ventures and BoxGroup. http://www.onwander.com

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About This Author
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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