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Deals of the day: Philly sells its gas utility

By
Dan Primack
Dan Primack
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By
Dan Primack
Dan Primack
Down Arrow Button Icon
March 4, 2014, 4:13 PM ET

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Venture Capital Deals

Invuity Inc., a San Francisco-based developer of surgical visualization and illumination technology, has raised $36 million in Series E funding. HealthCare Royalty Partners led the round, and was joined by return backers Valence Life Sciences, InterWest Partners and Kleiner Perkins Caufield and Byers,www.invuity.com

Clinicient Inc., a Portland, Ore.-based provider of revenue cycle management software and clinical solutions for outpatient rehabilitation therapy businesses, has raised $15 million in Series C funding from Catalyst Investors. www.clinicient.com

Wickr, a San Francisco-based provider of a military-grade encrypted mobile messaging service, has raised $9 million in Series A funding. Alsop Louie Partners led the round, and was joined by Juniper Networks and the Knight Foundation. www.mywickr.com

Play-I Inc., a Sunnyvale, Calif.–based maker of robotic toys for children, has raised $8 million in Series A funding co-led by Madrona Venture Group and Charles River Ventures. The deal was done at a $25 million pre-money valuation, according to VentureWire. www.play-i.com

Reflektion, a San Mateo, Calif.-based provider of predictive analytics for retailers, has raised $8 million in Series B funding co-led by Intel Capital and Nike Inc. www.reflektion.com

Zumper, a San Francisco-based apartment rental platform, has raised $6.5 million in new VC funding.Kleiner Perkins Caufield & Byers led the round, and was joined by New Enterprise Associates and Dawn Capital. www.zumper.com

Speek, a Reston, Va.-based provider of browser-based conference calling solutions, has raised $5.1 million in Series A funding (including conversion of $2.7m in prior convertible notes). Backers include 500 Startups, CNF Investments, Middleland Capital and angel investors like the actor Edward Norton.www.speek.com

Private Equity Deals

Altamont Capital Partners has acquired a majority equity stake in Celestite, an Irving, Texas–based insurance managing general agency focused on the non-standard auto market. No financial terms were disclosed. www.celestite.com

Apax Partners is in talks to acquire Israeli paint company Tambour Ltd. from Azrieli Group for approximately $230 million, according to the Globes financial daily. www.apax.com

The Carlyle Group has acquired a majority stake in Bonotel Exclusive Travel, a Las Vegas-based luxury tour operator in North America and the Caribbean. No financial terms were disclosed.www.bonotel.com

CIP Capital has acquired OnCourse Learning Corp., a Waukesha, Wisc.-based provider of career-focused professional training programs in the financial services, real estate and IT industries, from The Riverside Company. No financial terms were disclosed.. www.riversidecompany.com

One Equity Partners has acquired PeroxyChem LLC, a Philadelphia-based peroxygen chemistries business, from FMC Corp. (NYSE: FMC) for approximately $200 million. www.PeroxyChem.com

Resilience Capital Partners has acquired Thermal Product Solutions, a maker of environmental test chambers, industrial ovens and industrial furnaces, from SPX Corp. (NYSE: SPW). No financial terms were disclosed. www.resiliencecapital.com

The Watermill Group has acquired The Plastics Group, a Willowbrook, Ill.–based maker of highly-engineered plastic components, from Chicago Growth Partners and Merit Capital Partners. No financial terms were disclosed. www.theplasticsgroup.net

IPOs

Brit Insurance, an Amsterdam-based insurance and reinsurance group backed by Apollo Global Management and CVC Capital Partners, today filed an “intention to float” with the London Stock Exchange, with plans to list around 25% of the company next month. www.britinsurance.com

Corium International Inc., a Menlo Park, Calif.-based developer of pharma products that leverage transdermal and transmucosal delivery systems, has filed for a $50 million IPO. It plans to trade on the Nasdaq under ticker symbol CORI, with Jefferies and Leerink Partners serving as lead underwriters. The company reports a $2 million net loss on $10 million in revenue for Q4 2013. Shareholders include Essex Woodlands Health Ventures (55.92% pre-IPO stake) and Barr Laboratories (9.97%).www.coriumgroup.com

iKang Healthcare Group Inc., a Chinese medical services provider, has filed for a $150 million IPO. It plans to trade on the Nasdaq under ticker symbol KANG, with BofA Merrill Lynch and UBS serving as lead underwriters. The company reports a $12.5 million in net income on $134 million in revenue for 2013, compared to $10 million in net income on $94 million in revenue for 2012. Shareholders include Top Fortune Win (15.4% pre-IPO stake), ShanghaiMed (11.2%), Ora Investment (13.6% pre-IPO stake), Goldman Sachs (10.5%) and NewQuest Asia Investments (7.8%).

Mediwound Ltd., an Israel-based developer of burn and chronic wound management drug, has set its IPO terms to 5 million shares being offered at between $14 and $16 per share. It would have an initial market cap of around $265 million, were it to price in the middle of its range. The company plans to trade on the Nasdaq under ticker symbol MDWD, with Jefferies, Credit Suisse and BMO Capital Markets serving as lead underwriters. Shareholders include Clal Biotechnology Industries (65.3% pre-IPO stake). www.mediwound.com

OPower, an Arlington, Va.-based provider of energy efficiency and smart grid software, has filed a $100 million IPO. It plans to trade on the NYSE under ticker symbol OPWR, with Morgan Stanley and Goldman Sachs serving as lead underwriters. The company reports a $14 million net loss on nearly $89 million in revenue for 2013, compared to a $12 million net loss on $52 million in revenue for 2012. The company has raised over $65 million in VC funding from firms like New Enterprise Associates (21.8% pre-IPO stake), MHS Capital (8.3%), Accel Partners (5.4%) and Kleiner Perkins Caufield & Byers (5.4%). www.opower.com

OTHER M&A

The City of Philadelphia has agreed to sell its natural gas utility to UIL Holdings (NYSE: UIL) for approximately $1.9 billion. The utility manages gas for around 500,000 customers, and UIL has agreed not to raise base rates until 2017. www.uil.com

Borro, a UK-based online pawn shop, has raised $112 million in financing from Victory Park Capital. The company previously raised $26 million in VC funding led by Canaan Partners. Read more.www.borro.com

Facebook (Nasdaq: FB) is in talks to acquire near-orbital, solar-powered drone-maker Titan Aerospace for approximately $60 million, according to TechCrunch. www.titanaerospace.com

Kroger Co. (NYSE: KR) has approached Safeway Inc. (NYSE: SWY) about buying certain assets, according to Bloomberg. Kroger also has spoken with Cerberus Capital Management, which has offered to acquire Safeway, about purchasing select assets that Cerberus may not want.www.kroger.com

Numericable (Paris: NUM) and Altice (Amsterdam: ATC) are prepping a $20 billion bid for Vivendi’s (Paris: VIV) mobile unit, according to The NY Times. www.vivendi.com

Unilever has hired Morgan Stanley to find a buyer for pasta sauce brand Ragu, according to the WSJ. The deal could be valued at around $2 billion. www.unilever.com

Sign up for Dan Primack’s daily email newsletter on deals and deal-makers: GetTermSheet.com

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By Dan Primack
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