SOUTH BAY
MANHATTAN BEACH
Bank Merger: Beach Business Bank, a Manhattan Beach-based bank, has completed its merger with First PacTrust Bancorp Inc., the Irvine holding company of PacTrust Bank. In the deal, Beach shareholders are entitled to receive cash and warrants to acquire First PacTrust common stock with a total value of approximately $39 million.
CENTRAL AREA
DOWNTOWN LOS ANGELES
Sports Pickup: Sequential Brands Group Inc., a downtown L.A. apparel maker, has acquired all assets including the intellectual property of DVS Shoe Co. Inc., a Torrance footwear company specializing in the skateboarding market. The deal marks Sequential Brands’ move into the action sport sector. Financial terms of the deal were not disclosed.
Making Grade: Aecom Technology Corp., a downtown L.A. engineering services company, has been awarded two contracts totaling $10 million from the San Francisco Unified School District. Aecom’s work will include building improvements and facility modernizations.
INGLEWOOD
Forum Purchased: Faithful Central Bible Church in Inglewood has sold the Forum, the former home of the Los Angeles Lakers and Kings, for $23.5 million to New York sports venue owner and operator Madison Square Garden Co. MSG plans $50 million in renovations to the property to turn it into a top-tier concert venue.
WESTSIDE
WEST LOS ANGELES
Sensory Appeal: Space Computer Corp., a West L.A. sensor data processing company, has been acquired by ITT Exelis, a McLean, Va., aerospace company. Privately owned SCC posted revenue of $14.1 million in 2011. Financial terms of the deal were not disclosed. Space Computer makes equipment for processing data from sensors on satellites and aircraft.
WESTWOOD
Recruitment Deal: The Small Capitalization Partners fund of Gores Group, a Westwood private-equity firm, has completed the acquisition of Glotel, a Chicago staffing and workplace services company. Glotel was acquired from the North American arm of Adecco Group, a Glattbrugg, Switzerland, human resources company. Financial terms of the deal were not disclosed.
PACIFIC PALISADES
Exercise Assist: OptimisCorp, a Pacific Palisades-based operator of sports centers, has acquired London’s Gymdeck, the creator of an app for personal trainers that helps them manage their business. Financial terms of the deal were not disclosed.
