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Deals of the day: El Pollo Loco considers IPO

By
Dan Primack
Dan Primack
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By
Dan Primack
Dan Primack
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March 28, 2014, 2:31 PM ET
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Venture Capital Deals

Cloudera, a provider of enterprise analytic data management solutions, has signed a major strategic partnership with Intel that also includes a large (albeit unspecified) investment from Intel Capital. The investment comes on top of Cloudera’s recent $160 million fundraise at a $1.8 billion valuation, from T. Rowe Price, Google Ventures and MSD Capital. Read more.

CPXi, a Westbury, N.Y.-based digital media holding company, has raised $30 million in new funding from the Business Development Corp. of America. www.cpxi.com

FTBpro, a UK-based fan-generated media platform for online soccer, has raised $18 million in new VC funding. Participants included Dawn Capital, a “major Asia-based media investor” and return backers Battery Ventures and Gemini Israel Ventures. www.ftbpro.com

scPharmaceuticals Inc., a Lexington, Mass.-based developer of pharmaceutical products for subcutaneous delivery, has raised $16 million in Series A funding co-led by 5AM Ventures andLundbeckfond Ventures. www.scpharmaceuticals.com

Wellfount Corp., an Indianapolis-based institutional pharmacy for long-term care facilities, has raised $15 million in new VC funding led by Deerfield Management. www.wellfount.com

Realty Mogul, an online marketplace for investors to pool money and buy shares of investment properties, has raised $9 million in Series A funding led by Canaan Partners. www.realtymogul.com

Capital Teas Inc., an Annapolis, Md.–based specialty tea company, has raised $5 million in Series A funding led by Pear Tree Partners. www.capitalteas.com

Svelte Medical Systems, a New Providence, N.J.-based developer of coronary stent platforms, has raised $5 million in new VC funding from the Gary and Mary West Health Investment Fund. It previously raised around $65 million from such firms as New Science Ventures and CNF Investments.www.sveltemedical.com

Grapeshot, a UK-based provider of keyword contextual targeting solutions for online advertising, has raised $3.3 million in new VC funding. Albion Ventures led the round, and was joined by IQ Capital and company chairman Tim Schoonmaker. www.grapeshot.co.uk

AppGyver, a provider of mobile app deployment tools, has raised $2.5 million in new seed funding.Initial Capital and Open Ocean Capital co-led the round, and were joined by the Finnish Funding Agency for Innovation. www.appgyver.com

Tapvalue, a French online advertising and tracking solution for offline retailers, has raised €1.6 million in new VC funding from undisclosed backers, according to TechCrunch. www.tapvalue.com

Private Equity Deals

Cinven and Hannover Re have agreed to acquire the Austrian and German wealth management businesses of Old Mutual PLC (LSE: OLM) for approximately €220 million. www.oldmutual.com

TPG Capital
 is in “advanced discussions” to acquire around a 15% stake in New Berlin, N.Y.-based yogurt maker Chobani Inc., at a valuation of upwards of $5 billion, according to the WSJ. www.chobani.com

Vista Equity Partners has agreed to acquire PeopleAdmin Inc., an Austin, Texas–based provider of SaaS talent management solutions for higher education and government organizations. No financial terms were disclosed. Sellers include Summit Partners. www.peopleadmin.com

IPOs

2U Inc., a Landover, Md.-based platform that helps colleges and universities bring their programs online, raised $119 million in its IPO. The company priced nearly 9.2 million shares at $13 per share (high end of $11-$13 range), for an initial market cap of approximately $509 million. It will trade on the NASDAQ under ticker symbol TWOU, while Goldman Sachs and Credit Suisse served as lead underwriters. 2U reports a $28 million net loss on around $83 million in revenue for 2013, compared to a $23 million net loss on $56 million in revenue for 2012. Shareholders include Redpoint Ventures (23.2% pre-IPO stake), Highland Capital Partners (11.4%), Novak Biddle Venture Partners (11%) and Bessemer Venture Partners (8.3%). www.2u.com

Aerohive Networks, a Sunnyvale, Calif.-based developer of “cooperative control” wireless LAN access points, raised $75 million in its IPO. The company priced 7.5 million shares at $10 per share (middle of $9-$11 range), for an initial market cap of approximately $436 million. It will trade on the NYSE under ticker symbol HIVE, while Goldman Sachs and BofA Merrill Lynch served as lead underwriters. Aerohive reports a $33 million net loss on $107 million in revenue for 2013, compared to a $25 million net loss on $71 million in revenue for 2012. Aerohive has raised around $105 million in VC funding, from Northern Light Venture Capital (21.9% pre-IPO stake), Lightspeed Venture Partners (20.4%), New Enterprise Associates (13%), Kleiner Perkins Caufield & Byers (11%),DAG Ventures (8.4%) and Institutional Venture Partners. www.aerohive.com

Brit Insurance, an Amsterdam-based insurance and reinsurance group backed by Apollo Global Management and CVC Capital Partners, raised £240 million in its IPO. The company priced 100 million shares at 240 pence per share, near the low end of its 230-270 pence per share offering range. The deal gives Brit Insurance an initial market cap of around £960 million. www.britinsurance.com

CBS Outdoor Americas, an out-of-home advertising group being spun off by CBS Corp. (NYSE: C), has raised $560 million in its IPO. The company priced 20 million shares at $28 per share (high end of $26-$28 range), for an initial market cap of approximately billion. It will trade on the NYSE under ticker symbol CBSO, while Goldman Sachs served as left lead underwriter. www.cbs.com

El Pollo Loco, a Costa Mesa, Calif.-based chain of quick-serve chicken eateries, is prepping an IPO, according to the WSJ. The company generated around $307 million in revenue for the year ending June 26, 2013. Shareholders include Trimaran Capital Partners and Freeman Spogli & Co.www.elpolloloco.com

Everyday Health Inc., a New York-based provider of online consumer health solutions, raised $100 million in its IPO. The company priced 7.15 million shares at $14 per share (middle of $13-$15 range), for  an initial market cap of approximately $415 million. It will trade on the NYSE under ticker symbol EVDY, while J.P. Morgan, Credit Suisse and Citigroup served as lead underwriters. Everyday Health reports an $18 million net loss on around $156 million in revenue for 2013, compared to a $22 million net loss on $139 million in revenue for 2012. The company previously filed for an IPO in January 2010, before pulling the offering later that year. Shareholders include WF Holding (25.4% pre-IPO stake), Rho Ventures (25.4%), Scale Venture Partners (7.2%), Foundation Capital (5.2%) and NeoCarta Ventures (5.2%). www.everydayhealth.com

Spotify, a music streaming service, has begun holding “informal chats” with investment bankers, ahead of an IPO that could come this fall, according to Quartz. www.spotify.com

Syndax Pharmaceuticals Inc., a Waltham, Mass.-based developer of epigenetic therapies for treatment-resistant cancers, has filed for a $69 million IPO. It plans to trade on the Nasdaq under ticker symbol SNDX, with Deutsche Bank Securities and Jefferies serving as lead underwriters. Shareholders in the pre-revenue company include Domain Associates (34.3% pre-IPO stake), MPM Capital (29.5%), Forward Ventures (8.2%), RusnanoMedInvest (13.2%) and Forward Ventures (8.2%). www.syndax.com

M&A

Baxter International Inc. (NYSE: BAX) said that it will split into two companies, via a tax-free spinoff of its biopharmaceuticals business by the middle of next year. The overall company has a current market cap of around $38 billion. www.baxter.com

Affiliated Managers Group Inc. (NYSE: AMG) has agreed to acquire River Road Asset Management LLC, a Louisville, Ky.-based investment management firm with around $11 billion in AUM, from Aviva Investors North America Holdings, a subsidiary of Aviva PLC (LSE: AV). No financial terms were disclosed. www.amg.com

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