DuPont (NYSE: DD) said that it will spin off its Performance Chemicals division, which includes its Teflon and paint pigments units, into an independent public company. A Citi research report recently valued the business at approximately $11.5 billion. www.dupont.com
ESI Group (Paris: ESI) has acquired CyDesign Labs, a Palo Alto, Calif.-based provider of physics-based modeling systems for engineers to assess design options and test against requirements during the early design phase. No financial terms were disclosed. www.cydesign.com
Aquiline Holdings is considering a sale of Clear2Pay, a Belgian payments technology company it acquired in late 2009, according to Reuters. The deal reportedly could be valued at around €400 million, although Aquiline has not yet hired a bank. www.clear2pay.com
Pacific Equity Partners is in talks to sell Braiform, an Australian maker of garment hangers to the retail industry and clothing manufacturers, according to LBO Wire. No word yet on the buyer or sale price. www.braiform.com
Aptalis Pharma Inc., a Birmingham, Ala.-based drugmaker focused on cystic fibrosis and gastrointestinal disorders, has hired Goldman Sachs and J.P. Morgan to lead its IPO, according to Reuters. The move comes after Aptalis failed to find a buyer. Shareholders include TPG and Investor Growth Capital.
Aerie Pharmaceuticals, a Bridgewater, N.J.-based developer of glaucoma treatments, raised $67 million in its IPO. The company priced 6.7 million shares at $10 per share, compared to plans to price 5.25 million shares at between $12 and $15 per share. It will trade on the Nasdaq under ticker symbol AERI, while RBC Capital Markets and Stifel served as lead underwriters. The company had raised over $60 million in VC funding from Alta Partners (27.17% pre-IPO stake), TPG Ventures (21.17%), Clarus Ventures (21.85%), Sofinnova Ventures (19.35%) and Osage Ventures. www.aeriepharma.com
Endurance International Group Holdings, a Burlington, Mass.-based provider of cloud solutions for small and mid-sized businesses, raised $253 million in its IPO. The company priced 21.1 million shartes at $12 per share, compared to plans to offer 23.39 million shares at between $14 and $16 per share. It will trade on the Nasdaq under ticker symbol EIGI, while Goldman Sachs, Credit Suisse and Morgan Stanley served as lead underwriters. Endurance International reports a $65 million net loss on $251 million in revenue for the first six months of 2013, compared to a $39 million net loss on $92 million in revenue for the year-earlier period. Shareholders include Warburg Pincus and Goldman Sachs. www.enduranceinternational.com
Recro Pharma Inc., a Malvern, Penn.-based developer non-opioid therapeutics for the treatment of post-operative pain, has filed for a $28 million IPO. 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. www.recropharma.com
CommScope Inc., a Hickory, N.C.-based provider of infrastructure solutions for communications networks, raised $577 million in its IPO. The company priced 38.46 million shares at $15 per share (below $18-$21 range). It will trade on the Nasdaq under ticker symbol COMM, while J.P. Morgan, Deutsche Bank and BoA Merrill Lynch led a 16-bank underwriting group. The company reports $17 million in net income on over $1.7 billion of revenue for the first half of 2013, compared to an $11 million net loss on nearly $1.6 billion in revenue for the year-earlier period. The Carlyle Group took CommScope private in early 2011 for $3.9 billion, and holds a 98.4% ownership stake. www.commscope.com
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