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FinanceTerm Sheet

Deals of the day: Energy Future goes bust

By
Dan Primack
Dan Primack
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By
Dan Primack
Dan Primack
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April 29, 2014, 5:55 PM ET

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Venture Capital Deals

InsideSales, a Provo, Utah-based provider of cloud-based sales acceleration technology, has raised $100 million in Series C funding. VentureWire reports that the deal valued InsideSales at “nearly $1 billion.” Polaris Partners led the round, and was joined by Kleiner Perkins Caufield & Byers, Acadia Woods, EPIC Ventures, Salesforce.com, Zetta Venture Partners and return backers Hummer Winblad and U.S. Venture Partners. www.insidesales.com  

Slack Inc. (f.k.a. Tiny Speck), a San Francisco-based provider of inbox and app management solutions, has raised $42.75 million in Series C funding at around a $220 million valuation, according to Dow Jones.Social+Capital Partnership led the round, and was joined by return backers Accel Partners and Andreessen Horowitz. www.slack.com

Si-Bone Inc.
, a San Jose, Calif.-based maker of a minimally-invasive surgical device used to fuse the sacroiliac joint, has raised $33 million in growth equity funding. Orbimed and Novo AS were joined by return backers Skyline Ventures and Montreux Equity Partners. www.si-bone.com

Sequana Medical AG, a Zurich-based developer of medical fluid management technologies, has raised $26.2 million in Series C funding. Life Science Partners led the round, and was joined by NeoMed Management (company’s largest investor), VI Partners, BioMedInvest, Entrepreneurs Fund and Capricorn Venture Partners. www.sequanamedical.com

OurCrowd
, an Israeli platform for equity crowdfunding, has raised $25 million in Series B funding. No investor information was disclosed. www.ourcrowd.com

Voluntis
, a Paris-based developer of therapeutic companion software, has raised €20.75 million in Series D funding. Bpifrance Large Venture and Innovation Capital co-led the round, and were joined by Qualcomm Ventures and Vesalius Biocapital. www.voluntis.com

Wanderful Media
, a Los Gatos, Calif.-based company that helps shoppers discover local deals by putting circulars online, has raised $14.5 million in new VC funding. Backers include Advance Digital, A. H. Belo Corp., Community Newspaper Holdings Inc., Cox Media Group, The E. W. Scripps Co., Gannett Co., GateHouse Media, Graham Holdings, Hearst Corp., Lee Enterprises, MediaNews Group and The McClatchy Company. Wanderful has now raised $50 million in total VC funding. www.wanderful.com

Smart Medical Systems
, an Israel–based maker of endoscopy and colonoscopy products, has raised $6.5 million in VC funding from Domain Elite, a partnership between U.S. venture firm Domain Associates  and Elite Consulting, an advisor to Chinese pharma and medical device companies. www.smartmedsys.com

Datumate Ltd.
, an Israeli maker of ‘field-to-plan’ technologies for the civil engineering and architecture industries, has raised $5 million in new VC funding. Battery Ventures led the round, and was joined by return backer Al-Bawader. www.datumate.com

Tradier Inc.
, a Charlotte, N.C.-based cloud brokerage platform, has raised $3.1 million in Series A funding led by Devonshire Investors. www.tradier.com

Shuddle
, an Oakland-based on-demand ride service for family and child transportation, has raised $2.65 million in VC funding from such firms as Forerunner Ventures, according to a regulatory filing. www.shuddle.us

B2M Solutions, a UK-based provider of mobile device analytics and process optimization software for enterprise customers, has raised an undisclosed amount of VC funding from Motorola Solutions Venture Capital. www.b2m-solutions.com

Opvizor, a Houston, Texas-based provider of predictive analysis and issue prevention in virtual datacenter environments, has raised an undisclosed amount of new VC funding. Texas Atlantic Capital andWellington Partners were joined by return backer Gamma Capital Partners. www.opvizor.com

Private Equity Deals

Energy Future Holdings today filed for Chapter 11 bankruptcy protection, with expectations that the Texas utility’s regulated energy business (Oncor) will be split off from its unregulated generation unit. Energy Future Holdings, then known as TXU, was taken private in 2007 by KKR and TPG Capital for $45 billion, in what was the largest leveraged buyout in history. The firms each are expected to lose almost all of their investment, and had written off the deal well over a year ago. 

Charterhouse Capital Partners has completed its previously-announced $2.33 billion acquisition ofSkillsoft Ltd., a Nashua, N.H.-based training and e-learning software company, from Advent International, Bain Capital and Berkshire Partners. www.skillsoft.com

Eagle Merchant Partners
 has acquired LSO, an Austin, Texas-based provider of regional small parcel and same-day delivery solutions, from Fort Point Capital, MRL Capital, New Canaan Funding, and Pilgrim Capital. No financial terms were disclosed. BB&T Capital Markets managed the process. www.eaglemerchantpartners.com

Nair & Co., a UK-based provider of outsourced back-office solutions for companies expanding into international markets, has merged with Boston-based rival High Street Partners. No financial terms were disclosed. Nair & Co. was acquired last summer by HgCapital, while High Street backers include Sigma Partners and Baird Venture Partners. The combined company will be called Radius, and is expected to generate more than $90 million in revenue. www.hsp.com

Siris Capital Group has completed its previously-announced $352 million acquisition of Stratus Technologies, a Bermuda–based provider of availability solutions, www.stratus.com

Wellspring Capital Partners has agreed to acquire Great Lakes Caring, a provider of hospice and home health services in Michigan, Indiana and Ohio, according to an FTC filing. The seller would be fellow private equity firm Pouschine Cook Capital Management, which first acquired Great Lakes Caring back in 2007.

IPOs

Aspen Aerogels Inc., a Northborough, Mass.-based developer of flexible insulation products, has filed for an $86.25 million IPO. It previously filed for a $115 million IPO in July 2011, but withdrew it in May 2013. The company plans to trade on the NYSE under ticker symbol ASPN, with Barclays, J.P. Morgan and Citigroup serving as lead underwriters. It reports $48 million in net loss for 2013 on $86 million in revenue, compared to a $56 million net loss in 2012 on $63 million in revenue. Aspen Aerogels has raised over $85 million in VC funding from Reservoir Capital Partners (32.7% pre-IPO stake), Argonaut Ventures (27.1%), Arcapita Ventures (13.5%), RockPort Capital Partners (7.7%), Tenaya Capital (2.9%), Fidelity Investments (1.9%) and BASF Venture Capital. www.aerogel.com

CardioDx
, a Palo Alto, Calif.-based provider of cardiovascular genomic diagnostics, has revived an IPO process that it originally postponed last November. The company now lists Piper Jaffray and Jefferies as lead underwriters (BofA Merrill Lynch is gone). It still plans to trade on the Nasdaq under ticker symbol CDX. CardioDx has raised over $110 million in VC funding, from Temasek Life Sciences (19.9% pre-IPO stake), Longitude Capital (17.9%), Artiman Ventures (13.9%), Kleiner Perkins Caufield & Byers (9.5%), J.P. Morgan (6.4%), Mohr Davidow Ventures (5.8%), TPG Biotech, Intel Capital, Pappas Ventures, DAG Ventures, Asset Management Group, Acadia Woods Partners, Bright Capital and GE Capital. www.cardiodx.com

Tuniu Corp.
, a Chinese provider of packaged tours, set its IPO terms to 8 million shares being offered at between $9 and $11 per share. It would have an initial market cap of approximately $471 million, were it to price in the middle of its range. The company plans to trade on the Nasdaq under ticker symbol TOUR, with Morgan Stanley serving as lead underwriter. Tuniu reports a $13 million net loss on $324 million in 2013 revenue. Shareholders include DCM (23.5% pre-IPO stake), Esta Investments (16.7%), Gobi Partners (16.4%), Sequoia Capital China (13.2%), Dragon Rabbit Capital (9.6%), Verne Capital (6.4%) and Highland Capital Partners. www.tuniu.com

M&A

Cirrus Logic Inc. (Nasdaq: CRUS) has agreed to acquire British chipmaker Wolfson MicroelectronicsPLC (LSE: WLF) for £291 million in cash. www.cirrus.com

Zinio, a San Francisco-based digital newsstand and magazine app, has acquired Audience Media, a Spain-based provider of a multi-channel publishing system for the communications, marketing and media industries. No financial terms were disclosed. www.zinio.com

Stanadyne Corp., a Windsor, Conn.-based maker of engine components, has agreed to sell its filtration business to Clarcor Inc. (NYSE: CLC) for approximately $325 million. Stanadyne is a portfolio company ofKohlberg & Co. www.stanadyne.com

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