Deals of the day: Cerberus circles Safeway

Mar 06, 2014

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Venture Capital Deals

OnDeck, a New York-based platform for lending to “Main Street businesses,” has raised $77 million in growth equity funding. Tiger Global Management led the round, and was joined by return backers Institutional Venture Partners, RRE Ventures, SAP Ventures, Google Ventures, First Round Capital, Industry Ventures and Peter Thiel. The company has now raised a total of $180 million in equity and over $300 million in debt financing. It also announced that it will hit the $1 billion mark in total deployed capital later this month.

Payoneer Inc., a New York-based online payments company, has raised $25 million in Series D funding. Susquehanna Growth Equity led the round, and was joined by return backers Carmel Ventures, Greylock IL and Vintage Venture Partners.

Trusper, an app for sharing personal tips on such things as beauty, DIY and fitness, has raised $6.17 million in Series A funding led by

, an Ireland-based  big data and personalization platform for airlines and travel operators, has raised $6 million in VC funding. Polaris Partners led the round, and was joined by Frontline
, a reservations platform for the travel activity market, has raised $5 million in new VC funding. Backers include Brad Gerstner (Altimer Capital), Jeff Fluhr (co-founder of StubHub), Jack Dorsey (CEO of Square) and Eric Schmidt (Google chairman).

, a New York-based native advertising platform, has raised $4 million in Series A funding. True Ventures led the round, and was joined by return backers iNovia Capital, NextView Ventures, MESA+, Liberty City Ventures, Social Starts, Laconia Ventures and the Social Internet Fund. Read more at

iCardiac Technologies Inc., a Palo Alto, Calif.-based provider of cardiac safety assessment services, has secured an undisclosed amount of growth equity funding from Norwest Venture

Persimmon Technologies, a  Wakefield, Mass.-based provider of 3D deposition technology for motor component manufacturing, has raised an undisclosed amount of VC funding from ABB Technology

ShowEvidence Inc., a Santa Clara, Calif.-based provider of student and teacher assessment software, has raised an undisclosed amount of VC funding from the Follett Knowledge

Private Equity Deals

Centerbridge Partners has acquired an undisclosed equity stake in Capmark Financial Group Inc., a Horsham, Penn.-based real estate finance firm. Houlihan Lokey Capital managed the

Cerberus Capital Management has offered to buy supermarket chain Safeway (NYSE: SWY) for approximately $9 billion, or $40 per share, according to the WSJ. Kroger is also considering a

Falfurrias Capital Partners has acquired Efacec ACS Inc., a Norcross, Ga.-based provider of smart grid automation solutions to the electric power industry, from Portugal’s Efacec Group. No financial terms were disclosed. The company’s name will be changed to Advanced Control Systems

Imaginea Energy Co.
, a Canadian oil and gas asset acquisition platform led by Suzanne West (ex-CEO of Black Shire Energy, which was sold to Twin Butte Energy for C$358m), has secured a C$300 million equity commitment from Lime Rock

Interactive Health
, a Schaumburg, Ill.-based provider of outcomes-based wellness programs, has acquired Health Solutions, a provider of onsite comprehensive wellness services. No financial terms were disclosed. Interactive Health backers include CI Capital Partners.

Ripple Brand Collective LLC, maker of BarkThins chocolate snacks, has raised an undisclosed amount of minority equity funding from Alliance Consumer

Sterigenics International
, a Deerfield, Ill.–based provider of outsourced contract sterilization services, has completed its previously-announced $20.5 million acquisition of Food Technology Services Inc.(Nasdaq: VIFL), owner and operator of an irradiation facility in Mulberry, Florida. Sterigenics is a portfolio company of

Surveying and Mapping Inc.
, an Austin, Texas-based provider of geospatial solutions has raised an undisclosed amount of funding from Austin Ventures. The deal also includes debt co-lead arranged by J.P. Morgan and Comerica Bank.

Superior Capital Partners has sold Edge Adhesives Holdings Inc., a Fort Worth, Texas-based maker of adhesives, sealants and tapes for the building market, to Gladstone Investment Corp. andAkoya Capital. No financial terms were disclosed.


Adamis Pharmaceuticals, an Emeryville, Calif.-based developer of therapeutics for chronic CNS disorders, has filed for a $69 million IPO. It plans to trade on the Nasdaq under ticker symbol ADMS, with Credit Suisse and Piper Jaffray serving as lead underwriters. The company reports $50 million in net income on $71 million in revenue for 2013, compared to $17 million in net income on $71 million in revenue for 2012. Shareholders include Mohr Davidow Ventures (32.4% pre-IPO stake), Aeris Capital (16.9%), DAG Ventures (12.7%), NCD Investors (6.6%), Bio*One Capital, EDB Investments, GF Private Equity, Northgate Capital and Takeda Ventures.

Amber Road
, an East Rutherford, N.J.-based provider of cloud-based global trade management solutions, has set its IPO terms to 6.52 million shares being offered at between $10.50 and $12.50 per share. It would have an initial market cap of approximately $286 million, were it to price in the middle of its range. The company plans to trade on the NYSE under ticker symbol AMBR, with Stifel serving as lead underwriter. Amber Road reports $14 million in net income on $52.5 million in revenue for 2013, compared to $2 million of net income on $43 million in revenue for 2012. Shareholders includes Cross Atlantic Capital Partners (34.8% pre-IPO stake), Updata Partners (18.6%), Goldman Sachs (15.6%) and NJTC Investment Fund (7.1%).

Virgin America
 is planning to go public in the second half of 2014, according to a Reuters interview with CEO David Cush. The U.S. air carrier’s shareholders include Richard


Atlas Copco announced that its final payment for Edwards Group, a maker of vacuum products and abatement systems, will be $1.5 billion. This comes after Edwards hit certain milestones that increased the per share payout from $9.25 per share to $10.25 per share. Edwards Group was publicly-traded on the Nasdaq, while shareholders included CCMP

Akamai Technologies (Nasdaq: AKAM) has completed its previously-announced $370 million acquisition of Prolexic Technologies Inc., a Hollywood, Fla.-based provider of cloud-based security solutions for protecting data centers and enterprise IP applications from DDoS attacks. Prolexic had raised over $50 million in VC funding from Kennet Partners, Camden Partners, Medina Capital, Trident Capital and Intel Capital.

 has agreed to acquire The Echo Nest, a Somerville, Mass.-based music intelligence company. No financial terms were disclosed. The Echo Nest has raised around $25 million from Commonwealth Capital Ventures, Norwest Venture Partners, Matrix Partners and Jim

VacationRoost, a Salt Lake City-based vacation rental platform backed by Kinderhook Industries, has acquired LeisureLink, a Pasadena, Calif.-based distribution and revenue management platform for specialty lodging suppliers. No financial terms were disclosed. LeisureLink had raised around $17 million in VC funding from such firms as Clearstone Venture Partners, Mission Ventures and Wyndham Exchange & Rentals.

VMG Partners has sold fruit and nut-bar maker KIND LLC back to company founder Daniel Lubetzky. LBO Wire puts the price tag at $220 million in cash and notes. Read more at

Yahoo Inc. (Nasdaq: YHOO) has acquired Vizify, a Portland, Ore.-based startup that visualizes social data. No financial terms were disclosed. Vizify had raised a small amount of VC funding from Portland Seed Fund, Techstars and individual angels like Bill McAleer, Bill Bryant and Tim

Stage Stores Inc. (NYSE: SSI) has agreed to sell its off-price retail stores (Steele’s & Deals LLC) to a new retail unit of Hilco Global. No financial terms were disclosed.

Flipboard has agreed to acquire personalized iPad news app Zite from Flipboard has agreed to acquire personalized iPad news app Zite from CNN. No financial terms were disclosed, although Fortune has learned that it was an all-stock deal valued at more than the $20 million CNN paid for Zite back in 2011.

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