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The U.S. spent $30 billion to ditch textbooks for laptops and tablets: The result is the first generation less cognitively capable than their parents

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Deals of the day: TIAA-CREF buying Nuveen

By
Dan Primack
Dan Primack
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By
Dan Primack
Dan Primack
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April 14, 2014, 3:18 PM ET
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Venture Capital Deals

Julep Beauty, a Seattle-based beauty brand and ecommerce company, has raised $30 million in Series C funding. Azure Capital, Altimeter Capital and Madrona Venture Group were joined by return backers Andreessen Horowitz and Maveron. The company previously raised $26 million. www.julep.com

NatureBox, a San Carlos, Calif.-based subscription box service focused on healthy snack food, has raised $18 million in Series B funding. Canaan Partners led the round, and was joined by return backers General Catalyst Partners and Softbank Capital. www.naturebox.com

GreenSQL, an Israeli provider of unified database security and compliance solutions, has raised $7 million in new VC funding. JVP led the round, and was joined by return backers Magma Venture Capital, Rhodium, Atlantic Capital Partners, Gandyr and 2Bangels. www.greensql.com

Storefront, an AirBNB-type site for retail space and boutique shelf space rentals, has raised $7.3 million in new VC funding led by Spark Capital. www.thestorefront.com

Lamudi, a Rocket Internet-backed real estate classifieds site operating in Asia, South America and MENA, has raised $7 million in new VC funding from firms like Tengelmann Ventures. www.lamudi.com

Space Monkey Inc.
, a Midvale, Utah-based maker of cloud storage devices, has raised an undisclosed amount of VC funding led by Alta Ventures Mexico, according to VentureWire. The company also plans to move its manufacturing base from Shanghai to Guadalajara, Mexico. The company previously raised $2.25 million from Data Collective, Google Ventures and Venture51. www.spacemonkey.com

Private Equity Deals

American Securities is in talks to acquire Learning Care Group Inc., the second-largest child care center operator in North America, from Morgan Stanley Private Equity, according to Reuters.www.learningcaregroup.com

The Blackstone Group
 and GS Capital Partners have agreed to acquire Ipreo, a New York-based provider of market intelligence and productivity solutions to capital markets and corporate professionals, from KKR. The deal is valued at around $975 million, as first reported by the FT (and confirmed by Fortune). Earlier this year, the FT reported that both Blackstone and Carlyle had led offers for Ipreo, which KKR bought for around $425 million three years ago. www.ipreo.com

Custom Ecology Inc., a Mableton, Ga.-based outsourced waste services provider owned byKinderhook Industries LLC, has acquired B.J. Bear Grain Co., an Ontario, Canada-based provider of outsourced municipal solid waste hauling services to large commercial waste collection businesses and waste generators. No financial terms were disclosed. www.kinderhook.com

IPOs

Goodman Networks Inc., a Plano, Texas-based provider of network infrastructure and professional services to the wireless telecom market, has filed for a $100 million IPO. It plans to trade on the Nasdaq under ticker symbol GNET, with BofA Merrill Lynch and Jefferies serving as lead underwriters. The company reports a $43 million net loss on around $931 million in 2013 revenue, compared to a $5 million loss on $609 million in 2012 revenue. Shareholders include Alcatel-Lucent USA (5.2% pre-IPO stake). www.goodmannetworks.com

Jumei International Holding Ltd., a Chinese ecommerce company focused on beauty products, has filed for a $400 million IPO. It plans to trade on the NYSE or Nasdaq under ticker symbol JME, with Goldman Sachs (Asia), Credit Suisse and J.P. Morgan serving as lead underwriters. The company reports $25 million in net income on $483 million in 2013 revenue, compared to $8 million in net income on $233 million in 2012 revenue. Shareholders include Sequoia Capital (18.7% pre-IPO stake) andVentech China. www.jumei.com

Lombard Medical, a British maker of endovascular stent-grafts for repairing aortic aneurysms, has postponed its planned $80 million IPO, due to market conditions. It had planned to trade on the Nasdaq under ticker symbol EVAR, with Jefferies and Barclays serving as lead underwriters. The company’s shares currently trade on London’s AIM under ticker LMT, but the AIM listing would cease following this offering. Shareholders include Invesco Asset Management (39% pre-IPO stake), Abingworth (17.8%), Fidelity Investment International (9.5%) and LSP Life Sciences (5.7%).www.lombardmedical.com

Phibro Animal Health
, a Teaneck, N.J.-based animal health and mineral nutrition company, raised $176 million in its IPO. The company priced 11.77 million shares at $15 per share (below $16-$18 offering range), for an initial market cap of around $567 million. The company will trade on the Nasdaq under ticker symbol PAHC, while BofA Merrill Lynch, Morgan Stanley and Barclays served 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

M&A

TIAA-CREF has agreed to acquire Nuveen Investments, a Chicago-based investment management company with approximately $221 billion in assets under management, from an invesr consortium led by Madison Dearborn Partners. The deal is valued at approximately $6.25 billion, including debt. www.nuveen.com

Alibaba Group has agreed to acquire AutoNavi Holdings Ltd. (Nasdaq: AMAP), a China-based provider of digital map content and navigation and location-based solutions, for approximately $1.5 billion, or $21 per American depository share (27% premium to trading price before AutoNavi disclosed that it had an offer from Alibaba). Alibaba already holds just over a 10% stake in AutoNavi.www.autonavi.com 

Bio-Rad Laboratories Inc.
 (NYSE: BIO) has acquired GnuBIO Inc., a Cambridge, Mass.-based developer of droplet-based DNA sequencing technology. No financial terms were disclosed. GnuBIO had raised over $10 million in VC funding from undisclosed investors. www.bio-rad.com

Glencore Xstrata
 (LSE: GLEN) has agreed to sell its Las Bambas copper mine in Peru to a consortium of Chinese state-owned companies (led by China Minmetals Corp.), for $5.85 billion plus various development costs.  

SevOne, a Wilmington, Del.-based provider of IT infrastructure management solutions, has acquiredRapidEngines, a Minneapolis–based provider of log analytics software for IT enterprises, service providers and app developers. No financial terms were disclosed. SevOne last year raised $150 million from Bain Capital Ventures and Bain Capital Partners. www.sevone.com 

ThyssenKrupp
 (XTRA:TKA) of Germany has signed a non-binding deal to sell is marine operations to Sweden’s Saab for an undisclosed amount. www.thyssenkrupp.com

EQT Partners is seeking a buyer for Taiwanese TV network GTV, according to the Economic Daily. The deal could be valued at around $200 million, with Taiwanese conglomerate Formosa Plastics Group reported to be a possible bidder. www.eqt.se

KRG Capital Partners
 has sold Focus Corp., a provider of engineering services to the oil and gas industry in Western Canada, to WSP Global Inc. (TSX: WSP) for approximately $366 million in cash. Harris Williams & Co. managed the process. www.wspgroup.com

Symrise AG (XTRA:SY1) has offered to pay €1.3 billion to purchase French food ingredient makerDiana Group from private equity firm Ardian. www.symrise.com

Tyson Foods Inc. (NYSE: TSN) and Post Holdings (NYSE: POST) are the “final contenders” to buyMichael Foods Group Inc., which is being sold by GS Capital Partners for at least $2 billion, according to Reuters. www.michaelfoods.com

 

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