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Deals of the day: Chemtura sells seed treatment biz for $1 billion

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Dan Primack
Dan Primack
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April 17, 2014, 2:20 PM ET
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Venture Capital Deals

Campaign Monitor, a Sydney, Australia-based provider of email marketing and design solutions, has raised $250 million in its first round of outside funding. Insight Venture Partners committed the entire amount, but will syndicate a small piece going forward. No word on if the investments provides Insight with a control position. www.campaignmonitor.com

One Medical Group, a San Francisco-based operator of primary-care physician offices that allow patients to book same-day visits online, has raised $40 million in new VC funding. Redmile Group led the round, and was joined by return backers Google Ventures, Benchmark, DAG Ventures, Maverick Capital and Oak Investment Partners. The company previously raised $50 million.

AgilOne, a Mountain View, Calif.-based provider of cloud-based predictive marketing solutions, has raised $25 million in Series C funding. Tenaya Capital led the round, and was joined by Next World Capital, Four Rivers Group and return backers Sequoia Capital and Mayfield Fund. www.agilone.com

Heart Metabolics, a Dublin, Ireland-based developer of drugs for cardio-metabolic diseases, has raised $20 million in Series A funding. Backers include venBio, Seroba Kernel Life Sciences, Brandon Capital Partners (on behalf of AustralianSuper) and AshHill. www.HeartMetabolics.com

Nora Therapeutics, a Palo Alto, Calif.-based developer of reproductive medicines, has raised $18 in Series B funding. Novo AS led the round, and was joined by return backers Burrill & Company, Prospect Venture Partners, Rho Ventures and Vivo Capital. www.noratherapeutics.com

SpringCM, a Chicago-based provider of cloud content services, has raised $18 million in new funding. Existing backer Foundation Capital was joined by Square 1 Bank and Goff Capital. www.springcm.com

ForSight Vision5, a Menlo Park, Calif.-based maker of non-invasive products that replace eye drops for major anterior segment eye diseases like glaucoma, has raised $15 million in Series C funding. H.I.G. BioVentures led the round, and was joined by return backers Morgenthaler Ventures, Versant Ventures, Technology Partners and Delphi Ventures. www.forsightv5.com

Citymapper, a mobile transport information app, has raised $10 million in Series A funding. Balderton Capital led the round, and was joined by Comcast Ventures, Greylock Partners and Index Ventures. The app currently works for users in London, New York, Berlin and Paris. www.citymapper.com

FloDesign Sonics Inc., a Wilbraham, Mass.-based developer of a new acoustic-based process for separating cells from cell culture media, has raised $10 million in Series A funding led by Bright Capital. www.fdsonics.com

Work4, a San Francisco-based online recruitment platform that leverages social networks, has raised $7 million in Series B funding. Serena Capital led the round, and was joined by return backer Matrix Partners. www.work4labs.com

Turbina Energy AG, a German maker of micro wind turbine systems, has raised an undisclosed amount of funding from eCapital. www.turbina.de

Private Equity Deals

Bain Capital, The Carlyle Group and Orix Corp. were among first-round bidders for PrimeCredit, the Hong Kong consumer finance unit of Standard Chartered, according to Reuters. The deal could be valued at upwards of $700 million.

The Blackstone Group and KKR each have bid for an 8% stake in listed Indian telecom operator Idea Cellular, according to The Business Standard. Temasek also is reported to be considering a bid.www.ideacellular.com

Nordic Capital is “leading bidders” for LTS Lohmann Therapie-Systeme AG, a German maker of nicotine patches, according to Bloomberg. A deal could be worth around €1.2 billion, with French investment group Wendel also still interested. Sellers would include Novartis, BWK and Dievini Hopp BioTech. www.ltslohmann.de

Warburg Pincus has agreed to acquire Electronic Funds Source LLC, an Ogden, Utah-based provider of corporate payment solutions, from an investor group that included First Data Transportation Services, CTP Holdings LLC and FJ Management Inc. No financial terms were disclosed, although Reuters puts the sale price north of $1 billion. www.efsllc.com

IPOs

Axel Springer (DB: SPR), a German publisher, has hired JPMorgan Chase and Citigroup to lead an IPO for its online classifieds business, according to Bloomberg. www.axelspringer.de

Elior, a French catering group backed by Charterhouse Capital Partners, Chequers Capital and Intermediate Capital Group , has filed papers for a possible summer IPO in France. The NY Times reports that the company could raise upwards of €1 billion, offering between 30% and 35% of its share capital. www.elior.fr

Leju Holdings Ltd., an online-to-offline real estate services company in China, raised $100 million in its IPO. The company priced 10 million shares at $10 per share (low end of $10-$12 range), compared to original plans to offer 17.7 million shares at between $10 and $12 per share. It will trade on the NYSE under ticker symbol LEJU, with Credit Suisse and J.P. Morgan serving as lead underwriters. The company reports $43 million in net income on $335 million in revenue for 2013, compared to a $44 million net loss on $171 million in revenue for 2012. The company is wholly-owned by E-House China Holdings (NYSE: EJ). www.ehousechina.com

Sabre Corp., a Southlake, Texas-based provider of tech solutions to the global travel and tourism industry, raised $627 million in its IPO. The company priced 39.2 million shares at $16 per share, compared to plans to offer 44.74 million shares at between $18 and $20 per share. It has an initial market cap of approximately $3.92 billion, and will trade on the Nasdaq under ticker symbol SABR. Morgan Stanley, Goldman Sachs, BofA Merrill Lynch and Deutsche Bank Securities served as lead underwriters. Sabre reports around $2.3 billion in revenue for the first nine months of 2013. Shareholders include TPG Capital (45.3% pre-IPO stake) and Silver Lake (27.9%). www.sabre.com

Sportsman’s Warehouse Holdings Inc., a Midvale, Utah-based outdoor sporting goods retailer, raised $119 million in its IPO. The company priced 12.5 million shares at $9.50 per share (below $11-$13 range), for an initial market cap of around $392 million. It will trade on the Nasdaq under ticker symbol SPWH, while Credit Suisse and Goldman Sachs served as lead underwriters. The company reported $28 million in net income on $527 million in revenue for the fiscal year ending Feb. 2, 2013.Seidler Equity Partners held an 82.8% pre-IPO ownership stake. www.sportsmanswarehouse.com

TriVascular Technologies Inc., a Santa Rosa, Calif.-based developer of minimally-invasive technologies to treat abdominal aortic aneurysms, raised $78 million in its IPO. The company priced 6.5 million shares at $12 per share (below $13-$15 range), for an initial market cap of around $232 million. It began trading yesterday on the Nasdaq under ticker symbol TRIV (closing up at $13.79 per share), while J.P. Morgan and Credit Suisse served as lead underwriters. TriVascular reports a $50 million net loss on $19.5 million in revenue for 2013, compared to a $43 million net loss on $5 million in revenue for 2012. Shareholders include New Enterprise Associates (26.5% pre-IPO stake), Delphi Ventures (21.3%), MPM Capital (14.1%) and Kearny Venture Partners (6%).www.trivascular.com

Vital Therapies Inc., a San Diego-based developer of a cell-based therapy targeting the treatment of acute liver failure, raised $54 million in its IPO. The company priced 4.5 million shares at $12 per share (below $13-$15 range), for an initial market cap of approximately $253 million. It will trade on the Nasdaq under ticker symbol VTL, while Credit Suisse and William Blair served as lead underwriters.www.vitaltherapies.com

Vyrix Pharmaceuticals Inc., a Greenwood Village, Colo.-based maker of drugs for men’s sexual dysfunction, has filed for a $28.75 million IPO. It plans to trade on the AMEX under ticker symbol VYRX, with Aegis Capital and Fordham Financial Management serving as lead underwriters. The company is a wholly-owned subsidiary of Ampio Pharmaceuticals Inc. (AMEX: AMPE).www.vyrixpharma.com

Weibo Corp., a Chinese social media platform, raised $286 million in its IPO. The company priced 16.8 million shares at $17 per share, compared to plans to offer 20 million shares at between $17 and $19 per share. Its initial market cap is $3.7 billion, and it will trade on the Nasdaq under ticker symbol WB. Goldman Sachs (Asia) and Credit Suisse served as lead underwriters. Weibo reports a $38 million net loss on $188 million in revenue for 2013, compared to a $102 million net loss on $66 million in revenue for 2012. SINA Corp. (Nasdaq: SINA) held a 77.6% pre-IPO stake. www.weibo.com

Zoosk, a San Francisco-based online dating platform, has filed for a $100 million IPO. It plans to trade on the NYSE under ticker symbol ZSK, with BofA Merrill Lynch, Citigroup and RBC Capital Markets serving as lead underwriters. The company reports a $2.6 million net loss on $178 million in 2013 revenue, compared to a $20.6 million net loss on $109 million in 2012 revenue. Zoosk has raised over $60 million in VC funding from Canaan Partners (32.4% pre-IPO stake), ATA Ventures (17%), Bessemer Venture Partners (16.3%), Amidzad Partners, Crosslink Capital and Keating Capital.www.zoosk.com

M&A

Chemtura Corp. (NYSE: CHMT) has agreed to sell its agrochemicals and seed treatment business to Platform Specialty Products Corp. (NYSE: PAH) for approximately $1 billion (including $950m in cash). www.chemtura.com

Lending Club, a San Francisco-based online credit marketplace, has acquired Springstone Financial, a provider of options for consumers looking to finance private education and elective medical procedures, for $140 million in cash and stock. www.lendingclub.com 

Wesley Edens (Fortress Investment Management) and Marc Lasry (Avenue Capital) have agreed to purchase the Milwaukee Bucks basketball franchise for $550 million from Herb Kohl. Read more at Fortune.

Aline Aesthetics, a wholly-owned subsidiary of the TauTona Group medical device incubator, has sold its hyaluronic acid thread technology to Allergan Inc. (NYSE: AGN) for an undisclosed amount. www.allergan.com

Global Infrastructure Partners is considering a sale of its 50% stake in the Ruby Pipeline, a natural gas pipeline from the Rocky Mountains to the West Coast, according to LBO Wire. The other 50% stake is held by Kinder Morgan Inc. (NYSE: KMI), which valued the position at $1.15 billion as of year-end 2013. www.global-infra.com

Johnson Controls (NYSE: JCI) has agreed to acquire Air Distribution Technologies, a Texas-based maker of ventilation systems for residential and commercial buildings, from the Canada Pension Plan Investment Board for approximately $1.6 billion. www.johnsoncontrols.com

Post Holdings (NYSE: POST) is agreed to buy Michael Foods Group Inc. from GS Capital Partners for around $2.45 billion. Tyson Foods Inc. (NYSE: TSN) also had been a finalist for Michael Foods, an egg and dairy producer. www.michaelfoods.com

WealthEngine, a Bethesda, Md.-based provider of wealth identification and prospect research analytics services, has acquired BrightContext, a Falls Church, Va.-based provider of real-time analysis of big data streams. No financial terms were disclosed. WealthEngine has raised over $5 million in VC funding from Novak Biddle Venture Partners and QED Investors, while BrightContext backers included Southern Capitol Ventures. www.brightcontext.com

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