BLPA Rearview Mirror: M&A and Private Placements: Hair Restoration

November 18th

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cat mopWe have a varied group of businesses this week. Emerging categories, as measured by the frequency of investments in said category, is the Internet of Things and Machine-to-Machine communication, which is when your security system (SimpliSafe) instructs another system to call the police and report a problem. Or you program your thermometer (Nest), turn on home security, or check your home security video cameras from your iPhone.

On the private placement side, my favorites have to do with a robotic system for hair replacement. If it is effective, it’s bound to do land office business. I wish I had a nickel for every man I’ve met who is concerned about his receding hairline and thinning hair.

Nine of the 25 investments were in the medical/health area. Of course,the companies in the transactions we report on are more mature. Yes we are in the medical economy, Affordable Care Act and all.

Mergers & Acquisitions[1]

Click on the highlighted text for more deal information.

Apps

Appia, a leading independent mobile app marketer is being acquired by Mandalay Digital Group, a platform for the distribution of mobile entertainment, for $100m.

Leftronic, a data visualization business intelligence company, is being acquired by AppDirect, a business app marketplace.

IoT/M2M

Ohio-based RacoWireless, which provides solutions for IoT (internet of things) to M2M (machine to machine) is being acquired by Virginia-based KORE Wireless Group, an M2M communications services company,.

Software

Silicon Valley-based Xtime, a vehicle service and repair software company, is being acquired by Atlanta-based Cox Automotive, the auto company related conglomerate.

Media/Ads

BrightRoll, a programmatic video advertising platform, which has transformed the way video advertising is bought and sold,, is being acquired by Yahoo! for $640m.

Finance

Austin-based SecureNet Payment Systems, the payment industry’s only cloud-based solution mobile payments platform, is being acquired by Worldpay, a provider of global payments and services .

Gaming

Big Fish Games, a gaming website, is being acquired by Churchill Downs, the horse racing venue, for $885m.

Medical-Related

Botox-maker, Allergan is being acquired by Actavis for $65.5b, avoiding the clutches of Valiant Pharmaceuticals Intl.

Franklin, TN-based Centerre Healthcare, which operates rehab hospitals, is being acquired by Louisville, KY-based Kindred Healthcare for $195m.

MicronTechnologies, a leading global provider of particle size engineering technologies, is being acquired by Catalent, a global provider of advanced delivery technologies and solutions for drugs, biologics and consumer health products.

Green

Solar micro-inverter company, SolarBridge Technologies, is being acquired by SunPower Corporation. Sun Power is majority-owned by the oil company Total.

United Kingdom

MyDeliveryCab is being acquired by its competitor, dinein.co.uk.

Switzerland

Zurich-based maps.me, a three-year old mobile maps company, is being acquired by Mail.Ru Gorup.

Israel

Israeli cloud security vendor, Aorato, is being acquired by Microsoft for $200m.

Thailand

Thailand’s largest automotive classifieds site, One2Car, is being acquired by iCar Asia, ASEAN’s largest network of automotive portals, for $16.7m.

Switzerland

Zurich-based CLS Communication, a privately held provider of translation solutions, is being acquired by Waltham-based Lionbridge Technology for $77m.

Canada

Toronto-based IntelliResponse, an IVA (Intelliresponse virtual agents) platform, is being acquired by California-based [24]7, a customer engagement platform for service and sales.

Private Placements[2]

Click on the highlighted text for company and deal descriptions.

Software

VersionOne, an agile project management platform, raised a $20m Series B round.

Tel Aviv-based Forter, a fraud prevention solution for online merchants, raised a $15m Series B round which included Sequoia Ventures.

Mindjet, the mind mapping software company, raised $10m.

Apps/Services

VisaNow, an immigration service that is technology enabled, raised a $22.1m Series A round.

Gogobot, which enables you to get recommendations for vacations, hotels, restaurants and more, raised a $20m Series C round. HomeAway led the round.

Evernote raised a $20m Series E from Nikkei to build out Evernote Context and add Japanese language support for Context.   Nikkei will also provide some of the editorial content.

Shiftgig, which helps restaurants, bars and retailers fill current openings, raised a $10m Series A round.

Education

Echo360, an “active” learning platform, raised an $18m Series C round.

Course Hero, which provides students with course-specific study documents, homework help, and flashcards, raised $15m in a Series A round.

Hobbies

Craftsy, a website for classes, and supplies, raised a $50m Series D round.

Full Spectrum Laser, a fifth generation hobby laser, raised a $10m.

Retail

Revel Systems, an iPad POS system, raised a $100m in a Series C round.

San Diego-based Pirch, an online as well as bricks and mortar source of appliances for kitchens, bathroom, laundry and other areas of the home, raised $42m. They are using the “experiential” retail model, as in let’s cook real food on the range you are thinking of buying.

Door to Door Organics partners with organic farmers to bring local produce and natural groceries to your doorstep, raised a $26m Series B round. Areas include Colorado, Kansas City, Chicago, Michigan and the Tri-State region on the East Coast.

Raise Marketplace, a gift card marketplace, raised a $18.1m Series A round.

Gaming

Scopely, a mobile gaming startup, raised a $35m Series A round.

Medical/Health-Related

Restoration Robotics, which has a system for hair transplants, raised a $45m Series C round. Now I’ve seen everything!

Ziarco, a therapeutics company focused on skin diseases, raised a $33m Series B round.

Monteris Medical, an MRI-guided system, which enables minimally invasive laser ablation of soft tissue in the brain, raised a $30m Series B round.

Skincare company, La Lumiere, raised a $20m Series B round, which included Johnson & Johnson Development Corp. Between Restoration Robotics and La Lumiere, we’ve covered the waterfront.

North Carolina-based nContact Surgical, a minimally invasive arrhythmia treatment company, raised $20m.

Flowinix, which is developing implantable intrathecal pumps to manage chronic pain for cancer patients and patients with back pain, raised $20m.

Spiracur, a wound therapy company, raised $16m.

Boca Raton-based Modernizing Medicine, which has developed an iPad-based electronic medical assistant (“EMA”) for vertical areas in medicine, raised a $15m Series D round. The EMA does interface with other EMR and practice management systems.

BioPharmX, which provides innovative drug delivery products, raised a $12m Series A round.

Sweden

Fyndiq raised $20m for its online eBay-like marketplace.

China

HIHEY.COM, a very tasteful online art auction site, worth the time to explore, raised a $100m Series B round.

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Meg’s Corner

palm tree_snowNew Hampshire’s current weather is cold and piercing. Black ice and morning commute accidents up and down I-93.  Black ice and accidents up and down I-93.   The sort of weather that prompts my stepson, who lives in Southern California, to say “It’s 85 degrees and sunny here, how is it in New Hampshire?”  Knowing full well the answer.  I’ve lived in that area of the country, and while it’s beautiful it can be monotonous.  Believe it or not, come February, the weather we’re experiencing in November is remembered as being relatively mild.  They’re right:  you do get used to it!

 

 

All the best,

Margaret Johns

Founder, BlueLake Partners, LLC

 

Affiliates:

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Jan Robertson

SiVal Advisors, LLC

 

Bic Stevens

Stevens Capital Advisors

 

Chartworth2Chartworth

Susan Woods and Vlad Harris

Margaret Johns is the Founder and Chairman of BlueLake Partners, a boutique M&A investment bank based in the Greater Boston Area.  Prior to founding BlueLake she was an employee founder and Managing Director at Needham & Company where she worked in Corporate Finance in New York City and headed up its Boston office.  She now lives in Londonderry, New Hampshire with her husband, 16 year old step-daughter and three pugs.  When she’s not working with clients, FINRA or writing blogs she competes on the Granite State Penguins Masters Swim Team, skis, rides her bike or is out walking her pugs.

Content researched, edited and reviewed on a best efforts basis.

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We make no claim to being comprehensive in our review, as the contents are companies and topics we, ourselves, find of interest.

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This newsletter is currently being proofed by Dave Henshaw, which is much appreciated. Dave is my USMS swimming lane mate, and Granite State Penguin team-mate. He is retired from MIT, where he used to produce and proof their annual financial report. Exactly what we need.

 

[1] TechCrunch and company websites

[2] TechCrunch and company websites