PE Week Wire — 8/16/06

Boingo Wireless Inc., a Santa Monica, Calif.�based wholesale network aggregator and operator of neutral-host Wi-Fi networks, has closed its Series C round with $65 million. Mitsui & Co. led the deal, and was joined by fellow existing shareholders like New Enterprise Associates and Sternhill Partners (Evercore Partners did not re-up). New backers include Steelpoint Capital and Red Rock Ventures. Roy Thiele-Sardi�a of Steelpoint will join the Boingo board, while Paul Hsiao of NEA will replace former NEA partner Steward Alsop. www.boingo.com

China Network Systems of Taiwan reportedly received first-round buyout bids from eight firms. They are: MBK Partners, Goldman Sachs, KKR, Carlyle Group, CVC Asia Pacific, TPG Newbridge and Macquarie Bank. The deal is expected to be worth around $1.4 billion, with sellers including Koos Group (80%) and Star Group (20%).

Alan Botsford has left Parthenon Capital, where he had been a partner since 2001.

    VC Deals

IntraPace Inc., a Mountain View, Calif.-based developer of implantable gastric stimulators for the treatment of obesity, has raised $30 million in Series D funding at a post-money valuation of $42 million. Vulcan Capital led the deal, and was joined L Capital Partners and return backers DFJ ePlanet, Oxford Bioscience Partners, Toucan Capital, Boston Scientific, Johnson & Johnson Development Corp., CB Health Ventures, Halo Fund II and The Angel’s Forum. www.intrapace.com

Cempra Pharmaceuticals Inc., a Morrisville, N.C.-based developer of anti-infective medicines, has raised $14 million in Series A funding. Intersouth Partners and I-banker Wistar Morris III co-led the deal. www.cempra.com

LipoScience Inc., a Raleigh, N.C.-based developer of clinical applications of NMR spectroscopy in the areas of cardiovascular disease and metabolic disorders, has raised $13 million in Series F funding. Backers include Camden Partners, GE Capital, Invesco Private Capital, Pappas Ventures, Sightline Partners, Three Arch Partners and Varian Inc. www.liposcience.com

Netvibes, a Paris-based provider of personalized Web 2.0 homepage solutions, has raised �12 million in Series B funding. Accel Partners led the deal, and was joined by return backer Index Ventures. www.netvibes.com

3i Group has paid �11 million to acquire a 33% stake in HTC Sweden AB, provider of a diamond-based grinding system for professional flooring in manufacturing, commercial and public buildings. www.3i.com

WildTangent Inc., a Redmond, Wash.�based online game publisher, has raised $13 million in new VC funding. Granite Global Ventures led the deal, and was joined by WPP (Nasdaq: WPPGY) and return backers Advanced Technology Ventures, Greylock, Madronna Venture Group, Millenium Technology and IDG Ventures Pacific. WildTangent has raised around $77 million in total VC funding since its 1998 inception. www.wildtangent.com

Questra Corp., a Redwood City, Calif.-based provider of intelligent device management solutions, has raised $12.5 million in new venture capital. SAP NetWeaver Fund was joined by return backers Menlo Ventures and Trident Capital. Questra has now raised over $40 million in VC funding. www.questra.com

Blurb Inc., a San Francisco-based provider of self-publishing software and services, has closed its Series B round with $12 million. Return backers Canaan Partners and Anthem Venture Partners co-led the deal. www.blurb.com

Celerus Diagnostics Inc., a Santa Barbara, Calif.-based cancer diagnostics company, has raised $9 million in Series B funding. No investor information was disclosed, although a regulatory filing lists Vector Laboratories Inc. and David Gross (Great Pacific Capital) as significant shareholders. www.celerusdiagnostics.com

Acsis Inc., a Marlton, N.J.-based provider of shop-floor process automation and enterprise data collection solutions for the supply chain, has raised $6 million in new VC funding from Safeguard Scientifics. It also increased its line of credit with Silicon Valley Bank to $4.5 million. www.acsisinc.com

InSpa Corp., a Seattle-based chain of mass-market day spas, has raised $5 million from the Bay Area Equity Fund (managed by JPMorgan Chase). www.inspa.com

MuleSource, a San Francisco-based provider of an open-source enterprise service bus and integration platform, has raised $4 million in VC funding, according to CNET News. The deal was co-led by Hummer Winblad Venture Partners and Morgenthaler Ventures. www.mulesource.com

HubPages, a Berkley, Calif.-based provider of online content publishing solutions, has raised $2 million in first-round funding from Hummer Winblad Venture Partners. The news was first reported by SiliconBeat.com.

Siteler Inc., a Mountain View, Calif.-based provider of on-site carwash services, has raised $1.5 million in Series A funding from Tugboat Ventures, according to a regulatory filing. www.sitelerwash.com

Takkle Inc., a Brooklyn, N.Y.-based developer of an online social network focused on sports, has secured $1.12 million of a $5.04 million Series A round, according to a regulatory filing. Backers include Greycroft Partners. www.takkle.com

Network Analytics, a UK-based provider of a network data analytics platform, has raised �250,000 from The Capital Fund. www.network-analytics.com

NaturalMotion Ltd., a UK-based developer of 3D animation technology based on dynamic motion synthesis, has raised an undisclosed amount of VC funding from Benchmark Capital Europe. www.naturalmotion.com

Venture capital disbursements into Canadian companies rose 34% between Q1 and Q2, or Cnd$371 million to Cnd$496 million. The latter figure, however, is 25% lower than from Q2 2006, according to new data released by the CVCA and Thomson Financial. www.cvca.ca

NTL could soon receive a �10 billion offer from four private equity firms, according to The Times of London. The UK cable operator turned down a �9 billion offer last year from Cinven, KKR, Permira and Apax Partners.

RWE AG has received three offers for its Thames Water unit, which is expected to sell for around �7 billion. Bidders included groups led by Terra Firma Capital Partners, UBS and Macquarie Bank.

Martin Glenn, former president of PepsiCo’s UK operations, has withdrawn from a private equity consortium that is bidding to buy Birds Eye from Unilever PLC. The group includes CapVest, CVC Partners and KKR. A rival group includes Kerry Foods of Ireland, Blackstone Group and JPMorgan Partners.

The Blackstone Group has agreed to acquire hosiery company Gold Toe Investment Corp. from Vestar Capital Partners, and then merge it with Moretz Inc. No financial terms were disclosed. Blackstone will be the combined company’s largest shareholder, followed by CEO John Moretz and then Vestar (retaining a minority stake). www.blackstone.com

Austin Ventures has agreed to acquire all outstanding shares of 724 Solutions Inc. (TSX: SVN) that it does not already own. The deal is valued at US$18.5 million, or $3.34 per share. 724 is a Santa Barbara, Calif.-based provider of solutions that allow mobile network operators and virtual network operators to deploy IP-based network and data services. www.austinventures.com www.724.com

SV Investment Partners has completed its going-private acquisition of WILink PLC, a UK-based provider of investor relations services and communications solutions. WILink had been publicly-listed on the AIM. www.wilink.com

Bear Growth Capital Partners, an affiliate of Bear Stearns Merchant Banking, has agreed to acquire Water Water Everywhere Inc., a specialty retailer of designer swimwear and swimwear accessories. No financial terms were disclosed. www.waterwatereverywhere.com www.bsmb.com

Gould & Lamb LLC, a Bradenton, Fla.-based insurance services firm, has raised an undisclosed amount of private equity funding from H.I.G. Capital. www.gouldandlamb.com www.higcapital.com

    PE-Backed IPOs

InnerWorkings Inc., a Chicago-based provider of print procurement services to corporate clients, priced 10.59 million common shares at $9 per share ($8-$9 range), for an IPO take of around $95.31 million. It will trade on the Nasdaq under ticker symbol INWK, while Morgan Stanley served as lead underwriter. InnerWorkings raised $50 million from New Enterprise Associates earlier this year. www.iwprint.com

    PE Exits

Epcor Power LP of Edmonton has agreed to acquire Primary Energy Ventures, an Oak Brook, Ill.-based operator of eight heat and power generation facilities. The deal is valued at US$380 million, plus the assumption of $70 million in lease obligations. Primary Energy is backed by American Securities Capital Partners. www.primaryenerrgy.com

Google Inc. (Nasdaq: GOOG) has acquire Neven Vision Inc., a Santa Monica, Calif.-based provider of photo recognition software. No financial terms were disclosed. Neven Vision had raised $5 million in VC funding from firms like Anthem Venture Partners, Artisan Digital Media, Third Wave Ventures and Zhone Ventures. www.google.com www.nevenvision.com

Oshkosh Truck Corp. (NYSE: OSK) has completed its $131 million cash acquisition of Iowa Mould Tooling from American Capital Strategies. www.imt.com

    PE-Backed M&A 

Spanlink Communications Inc., a Minneapolis-based provider of customer interaction solutions that leverage VoIP technology, has acquired Calabrio Inc., a in Longueuil, Qu�bec�based provider of software for distributed workforce management and scheduling. No financial terms were disclosed. Spanlink last year raised $12 million in Series A funding from Split Rock Partners and BlueStream Ventures. www.spanlink.com

Loparex, a Finnish portfolio company of ABN Amro Capital, has acquired Douglas-Hanson Co., a Hammond, Wis.-based supplier of film and paper-based release liners. No financial terms were disclosed. RSM EquiCo Capital Markets advised Douglas-Hanson on the deal. www.loparex.fi

    Firm & Fund News

Cerberus Capital Management is planning to raise $6 billion for its fourth distressed debt fund, according to Financial News Online. It would be the largest such fund ever raised. www.cerberuscapital.com

CDC, a UK government-backed fund-of-funds focused on the emerging markets, has committed $104 million to three Indian funds: $75 million to India Advantage Series II (ICICI Ventures); $25 million to IDF II (IDF Private Equity) and $4 million to microfinance shop Lok Capital. www.cdcgroup.com

Nicola Horlick, a UK investor who runs Bramdean Asset Management, reportedly is considering a public float for a �250 million fund-of-funds focused on both private equity and hedge funds.

Christopher Donegan has rejoined Downer & Co. as an associate. He spent four years with the company as an associate, before leaving to get his MBA from NYU. www.downer.com

 

is planning to raise $6 billion for its fourth distressed debt fund, according to Financial News Online. It would be the largest such fund ever raised. www.cerberuscapital.com

, a Minneapolis-based provider of customer interaction solutions that leverage VoIP technology, has acquired Calabrio Inc., a in Longueuil, Qu�bec�based provider of software for distributed workforce management and scheduling. No financial terms were disclosed. Spanlink last year raised $12 million in Series A funding from Split Rock Partners and BlueStream Ventures. www.spanlink.com

of Edmonton has agreed to acquire Primary Energy Ventures, an Oak Brook, Ill.-based operator of eight heat and power generation facilities. The deal is valued at US$380 million, plus the assumption of $70 million in lease obligations. Primary Energy is backed by American Securities Capital Partners. www.primaryenerrgy.com

Inc., a Chicago-based provider of print procurement services to corporate clients, priced 10.59 million common shares at $9 per share ($8-$9 range), for an IPO take of around $95.31 million. It will trade on the Nasdaq under ticker symbol INWK, while Morgan Stanley served as lead underwriter. InnerWorkings raised $50 million from New Enterprise Associates earlier this year. www.iwprint.com

, a Mountain View, Calif.-based developer of implantable gastric stimulators for the treatment of obesity, has raised $30 million in Series D funding at a post-money valuation of $42 million. Vulcan Capital led the deal, and was joined L Capital Partners and return backers DFJ ePlanet, Oxford Bioscience Partners, Toucan Capital, Boston Scientific, Johnson & Johnson Development Corp., CB Health Ventures, Halo Fund II and The Angel’s Forum. www.intrapace.com