From: "Dan Primack"

Name: Dan Primack

Email Address: Dan_Primack@fortune.chtah.com

Subject: Term Sheet -- Monday, December 14

Date: 14-12-2010 14:53:53

Message

Fortune Finance Street Sweep Term Sheet Economics Tech Wall Street Washington

The Term Sheet by Dan Primack

Tuesday -- December 14, 2010

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Random Ramblings

No real column today, as what I was hoping to discuss didn’t quite come together in time (I’m awaiting one

important callback, and haven’t quite given him enough time). In the meantime, just a few very quick notes:

*** Spent some time on the phone yesterday with Jeremy Bloom, the ex-Olympic skier turned model

turned NFL player. He’s got a Denver-based lead generation startup that just raised $4.25 million from

Foundry Group.

Near the end of our talk, I asked if his celebrity has helped him open doors – particularly in Colorado – or if

it’s become problematic because people don’t take him seriously. His reply:

“It's definitely both. I try to stay away from the celebrity as much as I can… That said, I'm obviously proud

of my accomplishments in sports, and there are a lot of similarities between building a football team and

building a company. Plus, when I was with the Philadelphia Eagles, I spent time in a real estate and

entrepreneurial finance class at Wharton, which is where I learned the most about business.”

*** Update: Yesterday’s big deal was that Carlyle Group CFO Peter Nachtwey has stepped down. Not too

long after I hit send, he popped up in a similar role with Legg Mason.

*** Quiz Time: Can you name the PE-backed specialty finance company that recently had its spigot shut

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off, for reasons other than performance? Hint: It has two primary investors.

*** Those who do not learn from past mistakes… For the past few months, I’ve harassed various NY

state legislators about a stalled bill to change the pension system management structure from a single

fiduciary to some sort of board. None have been willing to reply, including those who sponsored said

legislation in the first place. Pretty close to giving up...

5 things you should read @Fortune.com

� Pre-Marketing, including Wall Street's version of austerity, Peter Nachtwey talks about leaving

Carlyle, cash-for-Madoff-claims and a Hooters hold-up.

� Tory Newmyer: One Congressman's tough decision on the tax bill

� Colin Barr: Queasy living for the bond market

� Colin Barr: Huntington's TARP payback parade rained out

� Dan Primack: Q&A with ex-Olympian Jeremy Bloom on his new startup

The Big Deal

Soladigm, a Milpitas, Calif.-based developer of electrochromatic glass for buildings, has raised $30 million

in Series C funding. DBL Investors and Nano Dimension co-led the round, and were joined by GE Energy

Financial Services and return backers Khosla Ventures and Sigma Partners.

Soladigm's product is able to automatically tint in reaction to outside conditions, thus reducing HVAC costs

for commercial buildings. It's basically smart glass, and the new funding

This is the big deal because smart glass might finally be nearing economic feasibility after several years as

a cool lab experiment that no real-life building owner can afford. Soladigm isn't alone in the space -- Sage

Electrochromics comes to mind -- but it is financially-positioned to be one of the leaders.

VC Deals

Rive Technology, a Cambridge, Mass.-based developer of technology for petroleum refining catalysts,,

has raised $25 million in Series C funding. The Blackstone Group led the round, and was joined by return

backers Charles River Ventures, Advanced Technology Ventures and Nth Power. www.rivetechnology.com

Shopify, an Ottawa-based online retail platform, has raised $7 million in Series A funding from Bessemer

Venture Partners, FirstMark Capital and Felicis Ventures. www.shopify.com

SensorLogic Inc., a Boston-based provider of a service delivery platform for machine-to-machine (M2M)

applications, has raised $5 million in new VC funding. Sevin Rosen Funds and Boston Millennia Partners

co-led the round, and were joined by return backers UPS Strategic Enterprise Fund and Covera Ventures.

www.sensorlogic.com

Integrate, a Denver-based provider of an aggregated lead generation platform for advertisers, has raised

$4.25 million in first-round funding from Foundry Group. Read more…

WebPT, a Phoenix-based provider of an electronic medical records system for physical therapists, has

raised $1 million in Series A funding from Canal Partners. www.webpt.com

CloudBees, a Boston-based developer of a Java cloud computing platform, has acquired Stax Networks,

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a Java-platform-as-a-service company, according to TechCrunch. No financial terms were disclosed.

CloudBees recently raised $4 million in Series A funding led by Matrix Partners. www.cloudbees.com

Private Equity Deals

Arsenal Capital Partners has acquired Para-Chem Southern, a Simpsonville, S.C.–based provider of

specialty adhesives, coatings and polymers. No financial terms were disclosed. Arsenal will merge Para-

Chem with existing portfolio company Royal Adhesives and Sealants LLC. www.arsenalcapital.com

AXA Private Equity “would be very interested” in acquiring a stake in German power transmission network

Amprion, according to an interview given by AXA PE managing director Stephan Illenberger to Dow

Jones. Reports are that Amprion owner RWE AG wants to sell up to 75% of Amprion, via a series of small

sales to different investors.

Greenleaf Power, a Denham Capital portfolio company that owns and operates biomass power plants, has

agreed to acquire Colmac Energy Inc., operator of a 47-megawatt facility in Southern California.

H.I.G. Capital has agreed to acquire Matrixx Initiatives Inc. (Nasdaq: MTXX), a Scottsdale, Ariz.-based

provider of cough and cold products under the Zicam brand. The deal is valued at approximately $75.2

million, or $8 per share. www.higcapital.com

Ridgemont Equity Partners has acquired a majority stake in Unite Private Networks, a provider of high-

bandwidth, fiber-based communications networks in the Midwestern U.S. No financial terms were

disclosed. www.ridgemontep.com

Insight Equity Partners has acquired a control stake in the Berry Family of Nurseries, a wholesale

grower of perennial and woody ornamental plants. No financial terms were disclosed.

www.insightequity.com

Tailwind Capital has acquired Apex Companies LLC, a Rockville, Md.-based water resources and

environmental services firm. No pricing terms were disclosed. Leveraged financing was provided by

Madison Capital, NewStar Financial and Churchill Financial. www.apexcos.com

PE-backed IPOs

iSoftStone Holdings, a Beijing-based provider of IT consulting and software services, raise nearly $141

million in its IPO. The company priced around 10.83 million American depository shares at $13 per share

($11-$13 range), with Morgan Stanley, J.P. Morgan, and UBS serving as co-lead underwriters. It will begin

trading on the NYSE under ticker symbol ISS. Shareholders include AsiaVest Partners, Infotech Ventures,

Mitsui & Co. and Fidelity Asia Ventures.

Exits

Striker Partners has agreed to sell Touchstone Wireless Repair and Logistics, a Hatfield, Penn.-based

provider of repair, remanufacture and reverse logistics services for wireless products, to Brightpoint Inc.

(Nasdaq:CELL). No financial terms were disclosed. Harris Williams & co. managed the sale process.

www.tswlp.com

Towerbrook Capital Partners has agreed to sell Germany-based Polymer Latex, Europe’s third-largest

latex producer, to Yule Catto. The deal is valued at €443 million, including the repayment of €286 million in

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existing debt.

Other Deals

BP said that it will sell its Pakistan assets to United Energy Group, in a $775 million cash deal designed to

help raise money to pay for the Gulf Coast oil spill. www.bp.com

Firms & Funds

CalPERS has adopted a new asset allocation strategy, but the target allocation for private equity remains

steady at 14 percent. The public pension currently has around $220 billion in assets under management.

www.calpers.com

Quadrant, an Australian private equity firm focused on the middle markets, has closed its sixth fund with

A$750 million in capital commitments, according to Reuters. The firm’s prior fund was capped at A$500

million. www.quadrantpe.com.au

Moving In, Up and On

The Blackstone Group said that senior managing director Michael Chae has been named head of the

firm’s Asia private equity activities. Former head Antony Leung remains Blackstone’s chairman for Greater

China, and will join the firm’s executive committee. www.blackstone.com

Peter Nachtwey has joined Legg Mason Inc. as chief financial officer and a member of the firm’s

executice committee. He previously was CFO of The Carlyle Group. www.leggmason.com

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