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FinanceTerm Sheet

Deals of the day: Arista Networks prices IPO

By
Dan Primack
Dan Primack
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By
Dan Primack
Dan Primack
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June 6, 2014, 10:44 AM ET
Retail
contract armin harrisKyle Bean for Fortune

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Venture Capital Deals

Senseonics, a Germantown, Md.-based provider of glucose monitoring devices, has raised $20 million in new venture funding from existing backers Anthem Capital, Delphi Ventures, Greenspring Associates, Healthcare Ventures and New Enterprise Associates. www.senseonics.com

Yieldbot, a New York-based provider of real-time consumer intent to digital marketers, has raised $18 million in Series B funding. SJF Ventures led the round, and was joined by return backers RRE Ventures, New Atlantic Ventures and Common Angels. City National Bank also provided additional financing. www.yieldbot.com

Flaregames, a German publisher of free-to-play mobile games, has raised €9 million in Series B funding co-led by Accel Partners and T-Venture co-led the round. www.flareegames.com

Curalate, a Philadelphia-based visual analytics and marketing platform, has raised $8.6 million in Series B funding. NEA led the round, and was joined by First Round Capital, MentorTech Ventures and Vayner RSE. www.curalate.com

Montage, a Delafield, Wis.–based provider of video interviewing technology for large enterprises, has raised $6 million in Series C funding. Beringea led the round, and was joined by Baird Capital, GCI and Calumet Venture Fund. www.montagetalent.com

Triblio, a Reston, Va.-based provider of content marketing software, has raised $3.4 million in seed funding led by Longworth Venture Partners and Kepha Partners. www.triblio.com

Big Data Partnership, a London-based provider of vendor-agnostic big data consulting, training and support, has raised £1.25 million in Series A funding from Beringea. www.bigdatapartnership.com

Private Equity Deals

CIVC Partners has acquired Track Utilities LLC, a Meridian, Idaho–based provider of mission-critical electric and telecom infrastructure services in the Northwestern U.S. No financial terms were disclosed. www.trackutilitiesinc.com

COFCO Meat
, a Chinese pork producer, has secured an undisclosed amount of private equity funding from KKR, Baring Private Equity Asia, HOPU and Boyu. www.cofco-joycome.com.

Immucor Inc.
, a Norcross, Ga.-based provider of transfusion and transplantation diagnostics, has acquired Organ-I Inc., a Mountain View, Calif.-based developer of non-invasive tests to monitor organ health for transplant recipients. No financial terms were disclosed. Immucor is a portfolio company ofTPG Capital. www.immucor.com

Industrial Growth Partners
 has acquired Sanders Industries, a Long Beach, Calif.-based maker of elastomeric tools used in large, composite structure manufacturing. No financial terms were disclosed. www.sandersind.com

Providence Equity Partners
 has acquired a 50% stake in STAR CJ Network India Pvt., an Indian home shopping joint venture, from Star HS Ltd. Star CJ was formed as a 50/50 joint venture between Star HS and South Korea’s CJ O Shopping Co. No financial terms were disclosed. www.provequity.com

Warburg Pincus has committed up to $500 million to launch Navitas Midstream Partners, a The Woodlands, Texas-based midstream energy platform led by former Copano Energy execs. www.warburgpincus.com

IPOs

Arista Networks Inc., a Santa Clara, Calif.-based provider of cloud networking solutions, raised $226 million in its IPO. The company priced 5.3 million shares at $43 per share (above $36-$40 range), for an initial market cap of approximately $2.73 billion. It will trade on the NYSE under ticker symbol ANET, while Morgan Stanley and Citigroup led a 17-bank underwriter group. The company reports $42 million of net income on $361 million in revenue for 2013, compared to $21 million in net income on $193 million in revenue for 2012. Shareholders include Andy Bechtolsheim. www.aristanetworks.com

Bond Street Holdings, a Miami, Fla.-based bank with 39 retail branches in Florida, has withdrawn registration for a $150 million IPO that was originally filed back in February. No explanation was provided. Deutsche Bank Securities and JPMorgan serving as co-lead underwriters. Shareholders include Elliott Management Corp. Franklin Mutual Advisors and Taconic Capital. www.bondstreetholdings.com

Century Communities Inc., a Greenwood Village, Colo.-based homebuilder and residential community developer, has set its IPO terms to 4.48 million shares being offered at between $23 and $26 per share. It would have an initial market cap of around $525 million, were it to price in the middle of its range.has filed for a $102 million IPO. It plans to trade on the NYSE, with FBR serving as underwriter. Shareholders include Luxor Capital Group (9.4% pre-IPO stake), BlueMountain Capital Management (8.7%) and Claren Road Asset Management (5.8%).

Game Digital, a British video game retailer controlled by Elliott Management, raised around $203.4 million in its London IPO. www.game.co.uk

ING Groep (Amsterdam: IMGA) said that it plans to float its European and Japanese insurance business later this year, with an estimated valuation of between €6 billion and €8 billion. www.ing.com

Pfenex Inc., a San Diego-based developer of treatments for wet AMD, has filed for a $74.25 million IPO. It plans to trade on the NYSE under ticker symbol PFNX, with William Blair and JMP Securities serving as lead underwriters. The company reports a $4 million net loss on around $12 million in revenue for 2013. Shareholders include Dow Chemical Co. (51.42% pre-IPO stake) and Signet Healthcare Partners (33.05%). www.pfenex.com

Radius Health Inc., a Cambridge, Mass.-based developer of drug therapies for osteoporosis and women’s health, raised $52 million in its IPO. The company priced 6.5 million shares at $8 per share (its downwardly-revised terms), and will trade on the Nasdaq under ticker symbol RDUS. Jefferies and Cowan & Co. served as lead underwriters. Radius Health has raised over $200 million in VC funding from MPM Capital (28% pre-IPO stake), The Wellcome Trust (7.9%), HealthCare Ventures (6.3%), BB Biotech Ventures (6.6%), Saints Capital (5.2%), Nordic Bioscience (12.7%) and Brookside Capital Partners (5.9%). www.radiuspharm.com

Syndax Pharmaceuticals Inc., a Waltham, Mass.-based developer of epigenetic therapies for treatment-resistant cancers, has set its IPO terms to 4.3 million shares being offered at between $13 and $15 per share. It would have an initial market cap of around $171 million, were it to price in the middle of its range. The pre-revenue company plans to trade on the Nasdaq under ticker symbol SNDX, with Deutsche Bank Securities and Jefferies serving as lead underwriters. Shareholders 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

Zafgen Inc., a Cambridge, Mass.-based biopharma company focused on the needs of severely obese patients, has set its IPO terms to five million shares being offered at between $14 and $16 per share. It would have an initial market cap of around $312 million, were it to price in the middle of its range. The pre-revenue company plans to trade on the Nasdaq under ticker symbol ZFGN, with Leerink Partners and Cowen & Co. serving as lead underwriters. Shareholders include Atlas Venture (35.6% pre-IPO stake), Third Rock Ventures (35.4%), Alta Partners (7.4%) and Fidelity Investments (6%). Zafgen also announced the receipt of a $20 million term loan from Oxford Finance and MidCap Financial. www.zafgen.com

ZS Pharma Inc., a Fort Worth, Texas-based developer of treatments for kidney and liver disease, has set its IPO terms to five million shares being offered at between $15 and $17 per share. It would have an initial market cap of around $300 million, were it to price in the middle of its range. The pre-revenue company plans to trade on the Nasdaq under ticker symbol ZSPH, with J.P. Morgan and Credit Suisse serving as lead underwriters. It has raised over $55 million in VC funding from such firms as Alta Partners (22.9% pre-IPO stake), Devon Park Bioventures (17.94%), 3×5 Special Opportunity Partners (16.55%), Salem Partners (12.96%) and RiverVest Venture Partners. www.zspharma.com

M&A

Dropbox has acquired Droptalk, a stealth-mode Chrome extension that lets friends share links and files privately with each other. No financial terms were disclosed. www.dropbox.com

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