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Deals of the day: Arista Networks files for IPO

By
Dan Primack
Dan Primack
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By
Dan Primack
Dan Primack
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March 31, 2014, 2:48 PM ET

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Venture Capital Deals

Crossbar Inc., a Santa Clara, Calif.-based developer of resistive RAM technology, has raised $25 million in Series C funding. SAIF Partners, Korea Investment Partners, CBC-Capital and Tao Venture Capital Partners were joined by return backers Artiman Ventures, Kleiner Perkins Caufield & Byers, Northern Light Venture Capital and the University of Michigan. Www.crossbar-inc.com

ClearStory Data, a Palo Alto, Calif.-based big data exploration company, has raised $21 million in new VC funding. DAG Ventures led the round, and was joined by return backers Andreessen Horowitz, Google Ventures, Kohlsa Ventures and Kleiner Perkins Caufield & Byers. Www.clearstorydata.com

Kitchensurfing, a New York-based marketplace for private chefs, has raised $15 million in Series B funding. Tiger Global Management led the round, and was joined by return backers Union Square Ventures and Spark Capital. Read more.

Gamblit Gaming
, a Glendale, Calif.-based provider of real money gaming solutions for mobile games, has secured $12 million in growth capital funding led by American Capital Ltd.Www.gamblitgaming.com

Bizzby
, a UK-based on-demand services marketplace (i.e., TaskRabbit rival), has raised $10 million in new VC funding, according to TechCrunch. No investor information was disclosed. Www.bizzby.com

Sprig
, a San Francisco-based provider of locally-sourced, on-demand meals, has raised $10 million in Series A funding. Greylock Partners led the round, and was joined by Accel Partners and Battery Ventures. Www.eatsprig.com

Handshake, a New York-based maker of a sales order management app, has raised $8 million in Series A funding. Emergence Capital Partners led the round, and was joined by BOLDstart Ventures, Point Nine Capital and seed backers MHS Capital, High Peaks Venture Partners and SoftTechVC.Read more.

2can
, a Russian mobile payments startup, has raised $5 million in Series B funding. InVenture Partners led the round, and was joined by Almaz Capital Partners and ESN Group. Www.2can.ru

ScreenHits
, a UK-based marketplace for content acquisition and interactive audience feedback, has raised $1.2 million in first-round funding from individual angels like Rory Fleming. Www.screenhits.com

Ozy Media
, a Mountain View, Calif.-based online news site focused on “the change generation” audience, has raised an undisclosed amount of new VC funding from Germany’s Axel Springer.Www.ozy.com

Private Equity Deals

Apax Partners and General Atlantic are in talks to acquire a 49% stake in Indian housing finance company PNB Housing Finance from Destimone y, a portfolio company of New Silk Route, according to The Economic Times. Morgan Stanley is managing the process. Www.pnbhfl.com

The Blackstone Group has completed its previously announced $625 million, or $7.30 per share, take-private acquisition of Pactera Technology International Ltd., a China-based provider of global consulting and technology services. Sellers included GGV Capital (7% stake). Www.pactera.com

Encana Corp. (TSX: ECA) has agreed to sell certain natural gas properties in the Jonah field (Sublette County, Wyoming) to TPG Capital for approximately $1.8 billion. Www.encana.com

European Locomotive Leasing, a new European train leasing platform sponsored by Kohlberg Kravis Roberts & Co., has agreed to purchase 50 electrical locomotives from Siemens for approximately €200 million. Www.ell.co.at

Family Help & Wellness, an operator of behavioral health programs for adolescents and young adults, has raised an undisclosed amount of growth equity funding from Trinity Hunt Partners.Www.trinityhunt.com

IFMR Capital, a provider of non-bank financial services in India, has raised $29 million in funding from LeapFrog Investments. Www.capital.ifmr.co.in

Kohlberg Kravis Roberts & Co. Is in “exclusive talks” to acquire a control stake in Brazilian data center operator Aceco TI, according to the WSJ. The company reportedly is valued at around $664 million. Sellers would include the controlling Nitzan family (which would retain a minority interest) and General Atlantic (which purchased a minority position two years ago). Www.kkr.com

Panasonic Corp. (Tokyo: 6752) and Kohlberg Kravis Roberts & Co. Have completed a share purchase agreement through which KKR becomes an 80% owner of medical equipment maker Panasonic Healthcare. Panasonic Corp. Will retain a 20% stake. No financial terms were disclosed.Www.panasonic.com

Permira
 has completed its previously-announced acquisition of UK wealth management firm Bestinvest from 3i Group. Www.bestinvest.co.uk

The Riverside Company has acquired Harvey Tool Co., a Rowley, Mass.-based maker of cutting tools used in precision machining applications. No financial terms were disclosed, except that GE Antares Capital and Ares Capital Corp. Provided debt financing. Www.riversidecompany.com

Sun Capital Partners
 has completed its previously-announced acquisition of Aclara Technologies LLC, a St. Louis–based vendor of advanced meter infrastructure solutions, from ESCO Technologies Inc. (NYSE: ESE). No financial terms were disclosed. Www.suncappart.com

Sterigenics International, a Deerfield, Ill.–based provider of outsourced contract sterilization services, has agreed to acquire Nordion Inc. (NYSE: NDZ), an Ottawa–based provider of products and services to the global health science market, for approximately $727 million, or $10.48 per share (12% premium to Thursday’s closing price). Sterigenics is a portfolio company of GTCR. Www.gtcr.com

Succession Capital
, a subsidiary of Lynx Equity, has agreed to acquire United Fastener Inc., a San Diego-based provider of fasteners and related products. No financial terms were disclosed.Www.unitedfastenersandiego.com

IPOs

Arista Networks Inc., a Santa Clara, Calif.-based provider of cloud networking solutions, has filed for a $200 million IPO. It plans to trade on the NYSE under ticker symbol ANET, with Morgan Stanley and Citigroup leading 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

Cerulean Pharma Inc., a Cambridge, Mass.-based developer of nanoparticle-based drugs, has set its IPO terms to 5 million shares being offered at between $11 and $13 per share. It would have an initial market cap of approximately $172 million, were it to price in the middle of its range. The company plans to trade on the Nasdaq under ticker symbol CERU, with Leerink Partners serving as lead underwriter. Shareholders include Polaris Partners (32.3% pre-IPO stake), Venrock (20.8%), Lily Ventures (16.2%), Crown Ventures (10.9%) and Lux Capital (9.4%). Www.ceruleanrx.com

Dominion Midstream Partners LP
, a Richmond, Va.-based provider of LNG transportation and related services, has filed for a $400 million IPO. It plans to trade on the NYSE under ticker symbol DM, with Barclays and Citigroup serving as lead underwriters.

Mercury Payment Systems Inc.
, a Durango, Colo.-based provider of  payment processing services to small and mid-sized businesses, has filed for a $100 million IPO. It plans to trade on the Nasdaq under ticker symbol MPS, with J.P. Morgan, Barclays and Morgan Stanley serving as lead underwriters. The company reports $43 million in net income on $237 million in revenue for 2013, compared to $47 million in net income on $203 million in revenue for 2012. Silver Lake holds a 62.3% pre-IPO ownership stake. Www.mercurypay.com

Paycom Software Inc.
, an Oklahoma City-based provider of human capital management SaaS solutions, has set its IPO terms to around 6.65 million shares being offered at between $18 and $20 per share. It would have an initial market cap of around $956 million, were it to price in the middle of its range. The company plans to trade on the NYSE under ticker symbol PAYC, with Barclays and J.P. Morgan serving as lead underwriters. Paycom reports $7.7 million in net income on around $108 million in revenue for 2013, compared to $4.2 million of net income on $77 million in revenue for 2012. Welsh, Carson, Anderson & Stowe holds a 56.6% pre-IPO ownership stake. Www.paycomonline.com

Phibro Animal
 Health, a Teaneck, N.J.-based animal health and mineral nutrition company, has set its IPO terms to around 11.77 million share being offered at between $16 and $18 per share. It would have an initial market cap of around $643 million, were it to price in the middle of its range. The company plans to trade on the Nasdaq under ticker symbol PAHC, with BofA Merrill Lynch, Morgan Stanley and Barclays serving as lead underwriter. Phibro reports $25 million in net income on $653 million in revenue for the fiscal year ending June 30, 2013. Shareholders include 3i Group.Www.pahc.com

Zoe’s Kitchen Inc., a Plano, Texas-based fast casual restaurant concept, has set its IPO terms to 5.83 million shares being offered at between $11 and $13 per share. It plans to trade on the NYSE under ticker symbol ZOES, with Jefferies, Piper Jaffray and Baird serving as lead underwriters. The company reports a $3.7 million net loss on $116 million in revenue for 2013, compared to a $253k net loss on $78 million in revenue for 2012. Shareholders include Brentwood Associates (70.56% pre-IPO stake). Www.zoeskitchen.com

M&A

Alibaba has agreed to acquire a 35% stake in Chinese department store operator  Intime Retail (HK: 1833) for approximately $692 million. Www.intime.com.cn

China Investment Corp. And an undisclosed Middle Eastern sovereign wealth fund have agreed to join Russian Direct Investment Fund on a proposed $200 million investment into Russian soybean processing company  Sodrugestvo.

Bridgepoint has hired Goldman Sachs to explore a sale of educational publisher Infinitas Learning, according to Bloomberg. The company could fetch upwards of €700 million (including debt), compared to the €774 million that Bridgepoint paid to acquire Infinitas Learning in 2007 from Wolters Kluwer.Www.infinitaslearning.com

HD Supply Holdings (Nasdaq: HDS), an Atlanta-based construction distribution group, has filed for a secondary public offering of 30 million shares. At last Thursday’s closing price of $25.69 per share, the offering would be worth around $771 million. The company priced its IPO last year at $18 per share. All of the stock would be offered by existing shareholders (rather than by the company). These may include Bain Capital, The Carlyle Group and Clayton Dubilier & Rice – each of which hold an 18.78% stake. Www.hdsupply.com

Houghton Mifflin Harcourt, a Boston-based educational publisher, has filed for a secondary public offering of 114.4 million shares. At last Thursday’s closing price of $20.05 per share, the offering would be worth more than $2.2 billion. The company priced its IPO last year at $12 per share. Selling shareholders may include Paulson & Co., Anchorage Advisors, Avenue Capital, Blackrock and Q Investments. Www.hmhco.com

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