Deals of the day: La Quinta prices low IPO

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Venture Capital Deals

Quora, the online Q&A platform launched five years ago by a pair of former Facebook execs, has raised $80 million in Series C funding. The Mountain View, Calif.-based company isn’t disclosing the round’s valuation, but a source familiar with the situation pegs it at around $900 million. Tiger Global led the deal, and was joined by existing shareholders like Benchmark, Matrix Partners, North Bridge Venture Partners and Peter Thiel. Read more.

Crittercism, a San Francisco-based provider of mobile app performance management solutions, has raised $30 million in Series C funding. Scale Venture Partners led the round, and was joined by InterWest Partners, VMWare and return backers Google Ventures, Opus Capital and Shasta

Rivertop Renewables
, a Missoula, Mont.-based maker of chemicals derived from natural plant sugars, has raised $26 million in new VC funding from CargillFirst Green Partners and return backers like Cultivian Ventures. 

Omada Health
, a San Francisco-based provider of group-based “digital therapeutic” programs for chronic disease prevention, has raised $23 million in Series B funding. Andreessen Horowitz led the round, and was joined by Kaiser Permanente Ventures and return backers U.S. Venture Partners and The Vertical Group.

AdvanDx Inc.
, a Woburn, Mass.-based provider of molecular diagnostics for identifying the cause of infections in hospitalized patients, has raised $12 million in Series B-1 funding. Merck Global Health Innovation Fund led the round, and was joined by return backers SLS Ventures AB and LD

JenaValve Technology Inc., a German maker of transcatheter aortic valve implantation systems for the treatment of aortic valve disease, has raised $10 million in new Series C funding, bringing the round total to $72.5 million. Valiance Asset Management (UK) and RMM (Belgium) provided the new capital, while existing investors include Edmond de Rothschild Investment Partners, Atlas Venture, NeoMed Management, VI Partners AG; Sunstone Capital, GIMV, Legend Capital and Omega

Elementum, a Mountain View, Calif.-based Flextronics spinout focused on supply chain management information solutions for the mobile workforce, has raised $5 million in new VC funding from Aaron Levie, Dave Duffield, Jerry Yang, Jim Davidson and Mike Frandsen. The company previously raised over $60 million from Lightspeed Venture Partners, Flextronics. 

Drync, a Boston-based mobile social network for wine drinkers, has raised $2.1 million in new VC funding. Backers include Crosslink Ventures, Great Oaks Venture Capital, KEC Ventures and Foundry Group.

Private Equity Deals

CVC Capital Partners “has emerged as the frontrunner” to acquire a 31% control stake in listed Spanish olive oil producer Deoleo (CATS: OLE) from a group of four Spanish banks, according to the FT. J.P. Morgan is managing the process.

FountainVest Partners
 is in talks to acquire Sterling Heights, Mich.-based auto components makerKey Safety Systems from Crestview Partners for upwards of $800 million, according to

GS Capital Partners
 and Koch Industries are in talks to jointly acquire Flint Group, a Luxembourg-based maker of printing inks, from CVC Capital Partners for more than $3 billion, according to Bloomberg.

, a Frankfurt, Germany–based provider of technology and marketing solutions to the global hotel industry, has acquired InnLink LLC, a Hendersonville, Tenn.-based provider of central reservations solutions. No financial terms were disclosed. ISH is a portfolio company of Battery 

LineStar Services Inc.
, a portfolio company of Blue Point Capital Partners, has acquiredSlaughter and Stanley Construction Inc., a Big Spring, Texas–based provider of pipeline maintenance and installation services for companies in the energy industry. No financial terms were disclosed.

Oryx Midstream Services LLC
, a new midstream oil and gas company initially focused Delaware Basin in Texas and New Mexico, has secured a $300 million equity commitment from Quantum Energy PartnersPost Oak Energy CapitalWells Fargo Energy Capital, company management and individual investors.

Summit Partners has acquired a minority equity stake in NetBrain Technologies, a Burlington, Mass.-based provider of software used by network engineers to map, analyze and troubleshoot enterprise and service provider networks.

Sycamore Partners
 has completed its previously-announced $2.2 billion take-private acquisition ofThe Jones Group Inc., a New York-based apparel retailer.

Youfit Health Clubs, a Deerfield Beach, Fla.-based operator of 67 fitness clubs in seven states, has sold a minority equity stake to PWP Growth Equity. No financial terms were disclosed, but Fortune has learned that PWP invested $50 million.


La Quinta Holdings Inc., an Irving, Texas-based midscale hotel chain owned by The Blackstone Group, raised $650 million in its IPO. The company priced 38.3 million shares at $17 per share, compared to plans to offer 37.2 million shares at between $18 and $21 per share. It will have an initial market cap of approximately $2.08 billion, and will trade on the NYSE under ticker symbol LQ. J.P. Morgan and Morgan Stanley served as lead underwriters. The company reports $9.7 million in net income on $659 million in revenue for the first nine months of 2013, compared to $42 million in net income on $617 million in revenue for the year-earlier period. Blackstone paid $2.3 billion to acquire La Quinta in late 2005.

CymaBay Therapeutics, a Newark, Calif.-based developer of treatments for gout and other metabolic and rare diseases, has filed for a $30 million IPO. The company currently trades on the OTC, but would relist on the Nasdaq under ticker symbol CBAY. Cowen & Company and Stifel are serving as lead underwriters.

iKang Healthcare Group Inc., a Chinese medical services provider, raised $153 million in its IPO. The company priced 10.9 million at $14 per share (high end of $12-$14 range), for an initial market cap of around $904 million. The company will trade on the Nasdaq under ticker symbol KANG, while BofA Merrill Lynch and UBS served as lead underwriters. iKang 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%).

Other deals

Apax Partners has hired BofA Merrill Lynch to explore a sale of Advantage Sales & Marketing Inc., an Irvine, Calif.-based provider of sales and marketing services for makers of packaged consumer goods, according to Reuters. The deal could be valued at between $3 billion and $4

EnCap Investments is seeking a buyer for Enduring Resources II, a Denver-based oil and gas company focused on the Permian Basin in west Texas, according to

Atlassian, an Australian provider of software for streamlining product development, has raised $150 million in secondary equity funding at a $3.3 billion valuation. T. Rowe Price led the round, and was joined by Dragoneer Investment Group. The company had raised $60 million from Accel Growth in 2010, and reports a $200 million revenue run rate. 

BMC Software Inc. has raised $750 million for a dividend recap, just seven months after being taken private by Bain Capital, Golden Gate Capital, Insight Venture Partners and GIC. The bond offering originally was designed to raise just $500 million.

iControl Networks Inc
., a Palo Alto, Caif.-based provider of broadband home management solutions, has acquired Blacksumac Inc., maker of a WiFi-enabled home awareness and automation device called Piper. No financial terms were disclosed. iControl has raised over $90 million in VC funding from such firms as Cisco, Comcast Ventures, Intel Capital, Charles River Ventures, Kleiner Perkins Caufield & Byers, Rogers Communications and Tyco International.

Kabbage, an Atlanta-based provider of financial services data and marketing solutions for online merchants, has secured a $270 million 3-year revolving credit facility. The company previously raised over $90 million in debt, plus over $50 million in equity from Thomvest Ventures, Mohr Davidow Ventures, BlueRun Ventures, David Bonderman, Warren Stephens and UPS Strategic Enterprise Fund.

PluralSight, a Layton, Utah-based provider of online education for software developers, has paid $45 million to acquire Digital-Tutors, an Oklahoma City-based provider of creative software training services. Pluralsight last year raised $27.5 million from Insight Venture Partners, which represented its first round of outside funding.

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