Stories by Pat
Culver City-based cannabis company MedMen Enterprises Inc. has expanded to Florida with the opening of its first retail location in West Palm Beach.
Ares, Leonard Green bring health care firm into fold
Ares Management and Leonard Green team up to buy health care provider Press Ganey.
Sunnie Kim and Hana Financial look to revitalize a flagging industry
Hana Financial looks to move toward transportation factoring as garment industry transforms.
SaMo PE firm locked up three deals last week, including APCT Inc. buy
Angeles Equity goes on spending spree with three new acquisitions.
Century City-based real estate investment firm Brasa Capital Management raised $120 million for its debut real estate fund.
El Segundo PE firm has been buying and selling rapidly
Transom Capital Group acquired maker of video surveillance systems.
Holding company bolsters product offerings with deal
Stone Canyon Industries buys Reddy Ice.
Data shows vast gender pay gap for public company CEOs in LA
Gender pay gap at public companies in L.A.
Finance: Former ‘fundless sponsors’ plan to focus on middle-market software firms
Diversis Capital Management has closed an inaugural $255 million fund.
Mercer analysis shows 4.7% jump, biggest gain in five years
National CEO pay reaches a five-year high.
RETAIL: More layoffs, spending freeze for pot retailer
Cannabis retail chain MedMen’s new CFO tries to snuff out financial woes.
Vernon-based clothing company True Religion said consultant Farla Efros has been named interim chief executive officer.
Downtown-based Hana Commercial Finance Inc., a factoring and trade finance subsidiary of Hana Financial Inc., established a new factoring credit line through the issuance of $100 million in note borrowings.
RETAIL: Company looks to reduce expenses as losses continue to widen
Culver City-based MedMen Enterprises Inc., said it was cutting executive salaries by nearly 96% as losses in its latest fiscal quarter continued to widen.
BANKING: Whistleblower claims she was forced out
Suit claims American Business Bank CFO was forced out for whistleblowing.
Livingston deal gives PE firm presence in cargo industry
Platinum Equity buys Toronto customs brokerage.
Gotham Green Partners sets $80 million investment
Gotham Green infuses cannabis retailer with $80M.
Accounting firm will work with range of cannabis clients
Accounting firm Armanino jumps into pot market.
Firm pays $2.8M to stop potential stock dilution
B. Riley shells out $2.8M for Wunderlich warrants.
Hope consolidates leadership positions with chief executive
Hope Bancorp names new chairman.
Culver City-based cannabis retailer MedMen Enterprises Inc. said it was cutting executive salaries as losses in its latest fiscal quarter continued to widen, according to a company statement.
Culver City-based MedMen Enterprises Inc. has been advanced an $80 million investment from marijuana industry investor Gotham Green Partners.
FINANCE: BH bank to grow in Rocky Mountain market
PacWest executives relocate to Colorado with thoughts of expansion.
FINANCE: Exchanges fight to list LA cannabis stocks
Canada’s stock exchanges are courting L.A. cannabis firms.
PE firm adds MHT Luxury Wheels to Wheel Pros portfolio company
Clearlake’s Wheel Pros combines with luxury wheel company.
Hospital CU folds into Credit Union of SoCal
Hospital CU folds into Credit Union of SoCal
Firm fetches $7.4 million for communications company
B. Riley Financial to sell Broadsmart Global.
Beverly Hills-based PacWest Bancorp. is relocating three of its top executives to Denver and looking to make acquisitions in the Rocky Mountain region in what the company says is part of a plan to establish a beachhead in that market.
Sawtelle-based Leonard Green and Partners plans to place an executive on the board of Catalent Inc., a Somerset, N.J.-based company involved in technology and development for drugs, biologics and consumer health products.
FINANCE: Growth attracts buyers, squeezes margins
L.A. becomes a hotbed for unregulated bridge loans.
RETAIL: Resignations follow lawsuit, exodus of 100 staff
MedMen loses staff, executives amid legal turmoil.
FINANCE: Rostohar embezzled more than $40M; agrees to forfeit assets
Former credit union chief pleads guilty in $40 million fraud suit.
Hollywood veterans raise $400M with fifth blank check offering
West Hollywood-based Cedars-Sinai Federal Credit Union has merged into Credit Union of Southern California in Anaheim on May 1.
Santa Monica-based private equity firm Clearlake Capital’s Wheel Pros business in Colorado has combined with Rancho Dominguez-based MHT Luxury Wheels Inc. to form what the companies claim is the largest automotive aftermarket wheel platform in the world.
Three senior executives of Culver City-based MedMen Enterprises Inc. have departed in recent weeks amid the backdrop of nearly 100 employees who have left the cannabis retailer since January, according to filings.
The former head of the CBS Employees Federal Credit Union in Studio City, who committed one of the credit union industry’s largest ever embezzlements, signed a plea deal with federal prosecutors in which he admitted to taking more than $40 million over the past two decades.
Commerce-based ManifestSeven, formerly known as MJIC Inc., a cannabis logistics company building a network of distribution hubs in California, plans to delay the timing of its listing on the Canadian Securities Exchange until September.
Beverly Hills-based private equity firm Platinum Equity agreed to sell the Embedded Power business of portfolio company Artesyn Embedded Technologies Inc., to Advanced Energy Industries Inc., in a transaction valued at $400 million.
Santa Monica-based private equity firm Clearlake Capital Group partnered with Cove Hill Partners to become a minority investor in NetDocuments, a cloud-based software services platform to manage document and email flow for law firms and compliance departments of big corporations.
Initial offering comes on heels of move to Virginia to be closer to client base
Parsons IPO raises $500 million.
FINANCE: Repurchases seen as way to boost share prices
Banks buying back stocks to boost share prices.
East West Bancorp., parent of East West Bank, the largest independent bank headquartered in Southern California, disclosed in a regulatory filing May 8 that it has written off some tax credit investments related to exposure to a potential solar Ponzi scheme identified by the FBI back in February.
Diamond Eagle Acquisition Corp., a Century City-based blank check company formed by two Hollywood veteran executives, plans to raise $350 million by offering 35 million units at a price of $10.
Santa Monica-based private equity firm Clearlake Capital Group has agreed to purchase software management firm Dude Solutions from Warburg Pincus, a New York City-based private equity firm.
Downtown-based Cathay General Bancorp, parent of the $17.1 billion-in-asset Cathay Bank, announced plans to repurchase up to $50 million of its stock.
FINANCE: Medallion debt hits First Entertainment
L.A. credit unions take a hit as Lyft and Uber shake up taxi industry.
Company will be majority owned by PE firm Tailwind Capital; Hild to remain CEO
Smith-Cooper merges with Anvil International.
Tinder, a West Hollywood-based mobile dating app that allows users to locate other singles in their geographic area, has launched a new user experience highlighting music festival destinations.
Woodland Hills-based B. Riley Financial Corp. said profit nearly doubled in the first quarter of the year over the same year-earlier period, fueled partly by two acquisitions made last year.