Century City private equity and debt firm Breakaway Capital Partners announced Wednesday that it has provided a senior credit facility to Wave Technology Solutions Group Inc., an IT consulting firm in Irvine. Terms of the deal were not disclosed.
Restraining Order Closes Collective, Shareholders Approve Pacific Commerce Bank Purchase, Blackline Hires CFO, Lion to List on Nasdaq
The Department of Justice announced Tuesday that it has arrested Chung Yu “Louis” Yeung of San Dimas for his alleged role in a scheme that Pasadena’s East West Bank said cost it more than $9 million. Yeung’s alleged co-conspirator, Guo Xiang “David” Fan, remains at large.
LENDING: Hearing set on CIT’s acquisition offer for OneWest.
Community coalition achieves goal of getting CIT and OneWest to defend their merger.
ONLINE: Stamps.com has investors in bag with hefty quarterly performance.
Stamps.com proves a popular address on Wall Street after strong fourth quarter.
Coastal city Zhuhai sets up local office to raise business profile.
Chinese city of Zhuhai gets down to business at its new office in downtown Los Angeles.
West L.A. private debt firm Crescent Capital announced Monday that it has provided a credit facility for the recapitalization of Interfloor Group Ltd., a Lancashire, England, flooring accessories company. Loan terms were not disclosed.
Downtown Los Angeles investment company SunPac Financial announced Wednesday that it has agreed to acquire Security First Bank in Fresno, its first step in establishing a new bank serving Los Angeles.
New York hedge fund manager Richard Perry, who recently became the fifth-largest shareholder of multi-level marketer Herbalife Ltd., liquidated his 5.6 million share stake in the company during the fourth-quarter, according to a Feb. 13 Securities and Exchange Commission filing.
lENDING: Manhattan also sold mortgage loan division in wake of pickup by Plaza.
At first glance, Irvine lender Plaza Bank’s agreement to buy El Segundo’s Bank of Manhattan last month seemed like just the latest deal between two small Southern California institutions, as many of them have been feeling the pressure from a more expensive regulatory environment.
INVESTMENT: Cambria hopes cutting management costs will draw customers.
Cambria hopes its new exchange-traded fund without a management fee pays off in new business.
I lead the syndication division of Bank of the West’s commercial banking group, raising capital by coordinating syndicated deals to help fuel growing businesses in Los Angeles and across the United States.
Betty Rengifo Uribe’s customers range from startup entrepreneurs to corporate executives to second-generation family-business owners.
Execs for out-of-town banks detail market’s advantages
Business Journal homes in on the local leaders of nine large banks with out-of-town headquarters.
Beverly Hills PE firm Platinum Equity announced Tuesday that it has completed the sale of Fishing Holdings, a Flippin, Ark., boat manufacturer to Bass Pro Group, the Springfield, Mo., outdoor gear retailer. Terms of the deal were not disclosed.
Merrill Lynch, the private wealth and investment banking arm of Bank of America Corp. in Charlotte, N.C., announced Wednesday that it has hired local money manager Bruce Munster and his nine-person wealth management team from New York investment bank Morgan Stanley.
Downtown Los Angeles money manager Oaktree Capital Group reported fourth-quarter earnings that fell short of the previous year’s numbers, citing lower investment and incentive income in a challenging environment for distressed investing, the firm’s bread and butter.
Steve Piascik fields Beverly Hills office to cover roster of clients.
Steve Piascik looks to score points with his pro athlete clients thanks to his new office in Beverly Hills.
FINANCE: Move to scrap MoneyPak sends shares of Green Dot tumbling.
Green Dot’s shift away from MoneyPak debit card service leaves investors and prison gang in lurch.
The Federal Reserve and Office of the Comptroller of the Currency announced Friday that they would hold a public hearing on the proposed acquisition of Pasadena’s OneWest Bank by lending company CIT Group in Livingston, N.J., responding to pressure from community groups opposing the union.
Marlin Equity Partners of Hermosa Beach announced Monday that it has acquired Pendum, an Elmhurst, Ill., ATM service provider. Pendum will be combined with another Marlin portfolio company, payments processing technology firm Burroughs Inc. of Plymouth, Mich. Terms of the deal were not disclosed.
Brea discount mailer company PennySaver USA, a portfolio company of Century City private equity firm OpenGate Capital, announced Monday that it would cease distribution to several areas, mainly in Northern California’s East Bay and South Bay regions.
West L.A. brokerage and investment bank B. Riley Financial Inc. announced Monday that it has acquired MK Capital Advisors, a New York financial advisory firm that caters to ultra-high net worth clients. It’s B. Riley’s first foray into the wealth-management business. Terms of the deal were not disclosed.
M&A: RBC-City National transaction trails mammoth acquisitions of late ’90s.
RBC’s hefty bid for City National comes up short when compared to the massive bank deals of the late ’90s.
Plenty of L.A. lawyers claim to be into wine. Then there’s Matt Kanin.
TECHNOLOGY: Pickup of Cetera by RCS followed acquisition of Docupace.
When RCS Capital Corp. in New York acquired El Segundo independent brokerage firm Cetera Financial Holdings Inc. in April for $1.2 billion, it came as a big surprise to many industry observers.
TOURISM: Alan Rothenberg says an improved LAX will give city a lift from Asia.
World Cup proponent Alan Rothenberg hopes to get the ball rolling on Los Angeles as a destination city.
Warren Woo back in business after bad breakup
Dealmaker Warren Woo is ready to invest time in his new firm after resolving a rough exit from his last employer.
Video advertising company Imagine Communications in Frisco, Texas, a portfolio company of Beverly Hills firm Gores Group, announced Monday that it has agreed to acquire RGB Networks Inc., a multiscreen video technology company in Sunnyvale. Terms of the deal were not disclosed.
REAL ESTATE: Rising’s deal for office park seen as first of two hefty pickups in area.
Acquisition of office park could be the first in a pair of pricey deals in downtown Los Angeles.
Job training program puts participants on front line of finance.
Vocational program sees bank teller training as a solid investment for job seekers.
lending: City National touts reserve in pickup by RBC.
Discretion paid off for City National in its surprise acquisition by Royal Bank of Canada.
BANKING: Cathay General shells out $126 million for New York’s Asia Bancshares.
Cathay General expands in east with its pickup of New York’s Asia Bancshares.
Packaged meat producer AdvancePierre Foods Inc. in Cincinnati, a portfolio company of downtown PE giant Oaktree Capital Management, announced Tuesday that it has agreed to acquire Landshire Inc. of Caseyville, Ill., a manufacturer of sandwich products. Terms of the deal were not disclosed.
Chinatown’s Cathay General Bancorp announced Wednesday that it has agreed to purchase fellow Chinese-American bank Asia Bancshares Inc. in Flushing, N.Y. for about $126 million in cash and stock.
Downtown Los Angeles real estate developer Rising Realty Partners has acquired the Figueroa Courtyard, a five-building low-rise office park in downtown Los Angeles. The purchase price was not disclosed.
West L.A. investment bank B. Riley Financial Inc. announced Friday that it has reached an agreement to provide $20 million in debtor-in-possession financing to beleaguered teen retailer Wet Seal Inc.
law: Class-action attorney shifts focus to only wealthy investors.
Recent rulings limiting shareholder lawsuits spur class-action attorney to change focus.
INVESTMENTS: Aristotle Capital signs up veteran duo to operate Boston outpost.
West L.A. money management firm Aristotle Capital Management wanted to add a team to lead its expansion into small- and midcap stocks, and it went about as far as possible in the continental United States to find one.
This week: Breakaway Capital, Gores Group, Riordan Lewis & Haden and Corridor Capital.
The Federal Reserve of San Francisco named a new chairman and made three other appointments to the board of its Los Angeles Branch, including Panda Express co-founder Peggy Tsiang Cherng.
The historic Proud Bird restaurant at the Los Angeles International Airport, which had been rumored to be closing after failing to agree to a long-term lease with airport operator Los Angeles World Airports, isn’t taking off after all.
Plaza Bank in Irvine announced Wednesday that it had reached an agreement to acquire El Segundo lender Bank of Manhattan, marking the L.A. area’s first bank merger announced this year.
Infineon, a German semiconductor giant, on Tuesday announced that it had finalized its purchase of El Segundo power management technology company International Rectifier. The deal, which was for about $3 billion, was announced Aug. 20.
real estate: Shares of Public Storage rise on analysts’ ratings boost.
Investors lock up shares of Public Storage after upgraded analyst ratings for the sector giant.
Aecom engineers biggest M&A transaction of 2014
The Business Journal provides the how and why of L.A.’s 10 biggest deals of 2014.
West L.A. private equity firm Brentwood Associates announced Tuesday that it had acquired Excelligence Learning Corp. in Monterey, which manufactures and sells children’s educational products such as arts and crafts sets to schools and parents. Terms of the deal were not disclosed.
Born and raised in Southern California, Roy Jimenez has never had a “White Christmas.” In fact, he’s never even seen snow fall.
INVESTMENT: Hedge fund partner sees opportunities in exports, purchasing.
Ilya Kuntsevich left Russia in search of a more lucrative career path in the United States.
Banc of California valued SoCal native Steve Sugarman enough to hand him the reins before his 40th birthday.
Youthful CEO Steve Sugarman has led Banc of California into an age of expansion.