WESTSIDE
CENTURY CITY
Overseas Pickup: Century City private equity firm Ares Management has acquired Farrow & Ball, a paint and wallpaper maker in Dorset, England, from the European affiliate of Bethesda, Md., private equity firm American Capital Ltd. The deal was valued at $432 million. This is the second investment made by Ares in Europe this year, after the acquisition of homebuilder London Square in July.
TRI-CITIES
PASADENA
Powered Up: Jacobs Engineering Group Inc. has been selected by Therma Visayas Inc., a Philippines power-plant builder and operator, to assist in the construction of a new coal-fired power plant in Toledo City, Philippines. Jacobs will carry out design review and provide comments to South Korean contractor Hyundai Engineering Co. Ltd. Financial terms of the contract were not disclosed.
BURBANK
On Set: Bridge Furniture & Props has expanded to the L.A. market with its first showroom and warehouse outside of New York. Its 12,000-square-foot facility, at 3210 Vanowen St. in Burbank, holds a collection of all-new furniture, decorative accessories, cleared art, lighting and rugs available for film, TV and commercial set decoration.
CENTRAL AREA
DOWNTOWN LOS ANGELES
Metal Move: Downtown L.A.-based Reliance Steel & Aluminum Co. has acquired all of the capital stock of Fox Metals and Alloys Inc., a Houston steel distributor specializing in supporting businesses that make equipment for the oil and gas industries. Reliance said that the acquisition will expand its presence in the oil and gas sector. Financial terms of the deal were not disclosed.
COMMERCE
Nasdaq Compliance: Commerce denim maker Joe’s Jeans Inc. was notified Nov. 24 by the Nasdaq Stock Market that the company was not in compliance with listing rules. Joe’s closing bid price for its common stock had been below $1 a share for 30 consecutive trading days. The company has 180 days to regain compliance with the bid price rule, which requires the common stock’s closing bid price to remain at $1 per share or more for a minimum of 10 consecutive trading days.
Industrial Property: Diecraft Corp. has sold a Commerce industrial building for $4.04 million to MLR Investments. The 45,400-square-foot warehouse, at 5330-32 Harbor St., was built in 1953. The new owner-user will occupy the entire property to operate its garment distribution business.
SOUTH BAY
EL SEGUNDO
Multifamily Deal: Indiana ES has acquired an El Segundo multifamily property for $5.89 million from Hacienda Hotel Inc. The 21-unit, 16,970-square-foot Ocean Breeze Suites, at 431 Indiana St., was built in 1965 and consists of one-, two- and three-bedroom units.
