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*** Exit signs: 49 venture capital-backed companies raised $21.5 billion by goin
g public on U.S. exchanges in 2012, according to data released this morning by T
homson Reuters and the National Venture Capital Association. That represents the
largest dollar amount since 2000, thanks almost entirely to the $16 billion Fac
ebook offering. If you remove Facebook, the dollar total falls below both 2010 a
nd 2011 totals. For context, 68 VC-backed companies raised $7.6 billion via IPOs
in 2010, and 51 VC-backed companies raised $10.7 billion in 2011. In terms of M
&A exits, the 2012 figures came out to 435 sales for around $21.46 billion in di
sclosed value. (note: disclosed value is very different from actual value). This
compares to 488 M&A exits in 2011 with $24 billion in disclosed value. *** Fisc
al cliff deal: No big surprises in last night's deal, vis--vis the VC and PE mark
ets. Carried interest not addressed, capital gains and dividend tax rates rise t
o 20% for those making more than $400k per year (or $450k as a family) and the p
ayroll tax cut was not extended (probably the most salient short-term econ impac
t of deal). Oh, and sequestration totally punted.
Stuff to read @Fortune.com
Pre-Marketing: Behind the scenes of cliff deal, SImpson-Bowles reax, what we all
learned in 2012, British buyout boom and social graph multiplicity. Kurt Wagner
: 10 IPOs to look for in 2013 Nin-Hai Tseng: 3 bright spots in the U.S. job mark
et for 2013 Michael Gaiss: 7 new VC initiatives worth watching Dan Primack: KKR'
s rifle retailer Stephen Gandel: High-yield market may be running out of steam M
ohamed El-Erian: Economy isn't the real beneficiary of fiscal cliff deal
The Big Deal
Avis Budget Group Inc. (Nasdaq: CAR) has agreed to acquire Boston-based car-shar
ing company Zipcar Inc. (Nasdaq: ZIP) for approximately $500 million in cash, or
$12.25 per share (49% premium to Monday's closing price). www.zipcar.com
VC Deals
Kyruus, a Boston-based big data startup for hospitals and health systems, has ra
ised $11 million in Series B funding. Lux Capital led the round, and was joined
by Fidelity Biosciences and return backers Venrock and Highland Capital Partners
. www.kyruus.com
Private Equity Deals
Advanstar Global LLC has completed its previously-announced acquisition of fashi
on event organizer ENK International LLC from Forstmann Little & Co. No financia
l terms were disclosed. Advanstar shareholders include Veronis Suhler Stevenson,
New York Life Capital Partners and Citigroup Private Equity. www.advanstar.com
CoBe Capital has acquired Warendorfer Kchen GmBh, a German maker of living room-s
tyle kitchens, from AFG Arbonia-Forster Group (SWX: AFGN). No financial terms we
re disclosed. www.warendorf.eu
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The Gores Group has acquired Therakos Inc., a Raritan, N.J.-based provider of te
chnologies for a leukapheresis-based immunomodulatory therapy called extracorpor
eal photopheresis, from Ortho-Clinical Diagnostics. No financial terms were disc
losed. Ortho-Clinical Diagnostics is a subsidiary of Johnson & Johnson (NYSE: JN
J). www.gores.com Great Point Partners has completed a dividend recap for portfo
lio company Health Systems International, an Indianapolisbased provider of outsou
rced medical cost management solutions for selfinsured corporations and insuranc
e companies. No financial terms were disclosed. www.us-hsi.com GTCR has acquired
Correctional Healthcare Cos., a Greenwood Village, Colo.based provider of inmate
healthcare services to jails and prisons. Sellers include Enhanced Equity Fund
and Gemini Investors. No financial terms were disclosed. www.gtcr.com Unitas Cap
ital has agreed to acquire a control stake in Shenzhen ZTE Netview Technology Co
., a Chinese maker of telecom and video surveillance equipment, from China's ZTE
Corp. for approximately $200 million. www.unitascapital.com US Joiner, a Crozet
, Va.-based provider of marine joiner and furniture solutions for U.S. governmen
t and commercial customers, has acquired JCI Metal Products Inc., a San Diegobase
d provider of maintenance, repair and overhaul services focusing on habitability
, fabrication, electrical and piping solutions to U.S. Navy vessels. No financia
l terms were disclosed.US Joiner is a portfolio company of J.F. Lehman & Co. www
.jflpartners.com Warburg Pincus has acquired JHP Pharmaceuticals LLC, a Parsippa
ny, N.J.based maker of sterile injectable products, from Morgan Stanley Principal
Investments. The deal was valued at $195 million. www.jhppharma.com
PE-backed IPOs
No PE-backed IPO news this morning.
Exits
Imation Corp. (NYSE: IMN) has acquired Nexsan Corp., a Thousand Oaks, Calif.-bas
ed maker of diskbased storage systems, for $105 million in cash and approximatel
y $15 million in stock. Nexsan had raised over $17 million in VC funding since 2
003, from firms like VantagePoint Venture Partners, GESFID, RRE Ventures and Bee
chtree Capital. It also had filed for an IPO in 2008, before later withdrawing r
egistration due to "unfavorable market conditions." www.nexsan.com
Other Deals
ArcelorMittal has agreed to sell a 15% stake in ArcelorMittal Mines Canada for $
1.1 billion to an investor group that includes South Korea-listed POSCO and Taiw
an-listed China Steel. www.arcelormittal.com Iberdrola has agreed to sell 32 ope
rating wind farms in France to a consortium that includes GE Energy Financial Se
rvices, MEAG and EDF Energies. The deal is valued at 350 million, plus another 5
0 million in potential earnouts. New Source Energy Partners LP, an Oklahoma City
-based limited partnership that will hold all of New Source Energy's oil and gas
assets, has filed for a $106 million IPO. It plans to trade on the NYSE under
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ticker symbol NSLP, with Baird and Stifel Nicolaus serving as co-lead underwrite
rs. www.newsource.com Qatar Telecom has increased its stake in Tunisian telecom
operator Tunisiana from 75% to 90%, in a deal valued at $360 million. The Tunisi
an government will retain the remaining 10% position. www.qtel.qa
Firms & Funds
No firm or fund news this morning...
Moving In, Up and On
Arthur Akopyan has joined UFG Private Equity as a partner. He previously worked
with Russian asset management firm SSCP. www.pe.ufgam.com Mike Mikan has agreed
to join hedge fund manager ESL Investments as president. He served as interim CE
O of Best Buy between April and September 2012, and is stepping down from the Be
st buy board, effective immediately. www.bestbuy.com
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