Deals of the day: AstraZeneca rebuffs Pfizer

May 2, 2014, 5:55 PM UTC

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Venture Capital Deals

Flatiron Health, a New York-based oncology platform founded by two ad-tech veterans, is nearing a close on at least $100 million in new VC funding, Fortune has learned. Read more., a Canadian ecommerce marketplace, has raised C$31 million in Series B funding. Shaw Ventures led the round, and was joined by certain undisclosed “North American financial institutions” and return backers Torstar Corp., Slaight Communications and Difference Capital.

MakeSpace, an on-demand provider of physical storage solutions, has raised $8 million in Series A funding. Upfront Ventures led the round, and was joined by Founders Fund, OATV and return backers Lowercase Capital, High Peaks Venture Partners and Collaborative Fund.

Private Equity Deals

The Carlyle Group has completed its $3.2 billion acquisition of the industrial packaging unit ofIllinois Tool Works Inc. (NYSE: ITW). The business has been renamed Signode Industrial

DataBank, a Dallas-based portfolio company of Avista Capital Partners, has acquired Arsalon Technologies, a Lenexa, Kansas-based managed services and colocation provider. No financial terms were disclosed.

Niagara Fiber LLC
, a portfolio company of Arsenal Capital Partners, has acquired Allied Blending and Ingredients Inc., a Keokuk, Iowa–based provider of provider of fiber and starch based proprietary products and mixes for the dairy and tortilla end-markets. No financial terms were

Summit Partners
 has agreed to acquire MDVIP, a Boca Raton, Fla.-based provider of personalized healthcare services for the wealthy, from The Procter & Gamble Co. (NYSE: PG). No financial terms were disclosed. Piper Jaffray & Co. managed the process.

TA Associates
 has acquired a majority stake in Bomgar, a Ridgeland, Miss.–based provider of enterprise remote support solutions. No financial terms were disclosed.

Visteon Corp.
 (NYSE: VC) has agreed to sell most of its global automotive interiors business toCerberus Capital Management. No financial terms were disclosed, except that the business generated around $1 billion in 2013 revenue.

VRS VeriClaim UK, a subsidiary of T&H Global Holdings LLC, has acquired Ellis May Chartered Loss Adjusters, a UK-based provider of high net worth and commercial loss adjusting and claims handling services to the property and casualty insurance market. No financial terms were disclosed. T&H Global Holdings is a portfolio company of Flexpoint


Ares Management, a Los Angeles-based alternative asset manager, raised around $216 million in its IPO. The company priced 11.36 million common units at $19 per unit, compared to plans to offer 18.17 units at between $21 and $23 a piece. It will trade on the New York Stock Exchange under ticker symbol ARES, while J.P. Morgan and BofA Merrill Lynch served as lead underwriters. For 2013, Ares reports $306 million in net economic income, a metric favored by publicly-traded private equity firms that don’t believe GAAP accounting best explains their financial performance. In terms of more traditional financials, Ares reports $873 million in 2013 revenue — including $517 million in management fees and $176 million in performance fees — compared to $1.26 billion in 2012 revenue. It had $74 billion in assets under management through year-end 2013.

Aldeyra Therapeutics, a Burlington, Mass.-based developer of therapies for rare eyes and skin diseases, raised $12 million in its IPO. The company priced 1.5 million shares at $8 per share (below $10-$12 offering range), and will trade on the Nasdaq under ticker symbol ALDX. Aegis Capital served as underwriter. Shareholders include Domain Associates (50.1% pre-IPO stake) and Johnson & Johnson Development Corp. (44.5%).

Atento SA, a provider of CRM and business process outsourcing solutions in Latin America and Spain, has filed for a $300 million IPO. It plans to trade on the NYSE, with Morgan Stanley, Credit Suisse and Itaú BBA serving as lead underwriters. The company reports a $4 million loss on $2.34 billion in revenue for 2013. Atento is owned by Bain

Michaels Companies Inc.
, an arts and crafts retailer owned by Bain Capital and The Blackstone Group, said that it plans to list its shares on the Nasdaq under ticker symbol MIK. The company originally filed last December to raise $500 million in its IPO, with J.P. Morgan and Goldman Sachs serving as lead underwriters. It reports $110 million of net income on $3 billion in revenue for the nine months ending Nov. 2, 2013, compared to $95 million in net income on $2.88 billion in revenue for the year-earlier period.

National Mentor Holdings
, a Boston-based provider of home and community-based health services to children and adults with disabilities, is preparing to file for an IPO that could value the company at more than $1 billion, according to the Wall Street Journal. Participating banks include Barclays, Jefferies Group, BofA Merrill Lynch and UBS. National Mentor Holdings is owned by Vestar Capital

Papa Murphy’s Holdings Inc.
, a Vancouver, Wash.-based franchisor and operator of Take ‘N’ Bake pizza stores, raised $64 million in its IPO. The company priced 5.8 million shares at $11 per share (low end of $11-$13 range), for an initial market cap of approximately $187 million. It plans to trade on the Nasdaq under ticker symbol FRSH, with Jefferies, Baird and Wells Fargo serving as lead underwriters. It reports a $2.6 million net loss on around $80.5 million in revenue for 2013. Shareholders include LeeEquity PartnersAccess Industries and Thrivent

ProteinSimple, a Santa Clara, Calif.-based developer of protein analysis tools for researchers, has filed for an $86.25 million IPO. It plans to trade on the Nasdaq under ticker symbol PRTN, with J.P. Morgan and BofA Merrill Lynch serving as lead underwriters. The company reports around $1 million of net income on $51 million in 2013 revenue. Shareholders include the Wellcome Trust (19.6% pre-IPO stake), Essex Woodlands Health Ventures (14.6%), Novo AS (12.1%), Domain Associates (11.6%) and LVP Life Science Ventures (8.1%).

Saga, a British travel and insurance company, said that it is prepping a London IPO, with various reports suggesting that it would seek a valuation of around 3 billion. Shareholders includeCharterhouse Capital PartnersCVC Capital Partners and


AstraZeneca (LSE: AZN) has rejected a sweetened $106 billion takeover offer from Pfizer (NYSE: PFE), referring to the price as “inadequate.” The new bid had been around 7% higher than Pfizer’s original approach, and would have provided AstraZeneca stockholders with around $84 per share in cash and stock. 

Merck & Co. (NYSE: MRK) is nearing a deal to sell its consumer business to Germany’s Bayer AG(DB: BAYN) for approximately $14 billion, according to the NY Times. An announcement is expected to come before next 

MidAmerican Energy
, a unit of Berkshire Hathaway (NYSE: BRK), has agreed to acquire Canadian energy transmission company AltaLink for approximately $2.9 billion.

Torstar Corp. (TSX: TS) has agreed to sell Harlequin Enterprises Ltd., a publisher of romance novels, to News Corp. (Nasdaq: NWSA) for C$455 million in cash. 

ABRY Partners has hired Morgan Stanley to find a buyer for Parsippany, N.Y.–based insurance company York Risk Services Group Inc., according to Bloomberg. The deal could be valued at more than $1.5 billion. 

ANSYS (Nasdaq: ANSS) has acquired SpaceClaim Corp., a Concord, Mass.–based provider of 3D modeling software for engineers, for $85 million in cash. SpaceClaim had raised nearly $50 million in VC funding from Borealis Ventures, Kodiak Venture Partners, Needham Capital Partners and North Bridge Venture Partners.

The Carlyle Group and Unison Capital are seeking a buyer for Covalent Materials Corp., a Japanese maker of semiconductor and flat panel display-related products, according to Bloomberg. The firms hope to receive bids of around $490 million.

Microsoft (Nasdaq MSFT) has acquired GreenButton, a New Zealand-based provider of cloud computing services, for an undisclosed amount. Sellers include ICE Angels, the New Zealand Venture Investment Fund and Sparkbox.

Platinum Equity has sold Truesense Imaging, a Rochester, N.Y.-based maker of image sensor devices, to ON Semiconductor (Nasdaq: ONNN) for $95 million in cash.

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