DOWNTOWN LOS ANGELES
Management Buy-Back: Analytic Investors LLC, a downtown L.A. provider of investment management services, has announced a management buy-back of the firm from Old Mutual Asset Management, a Boston investment services firm. Financial terms were not disclosed. The t ransaction is expected to close this year. Analytic Investors had more than $6 billion in assets under management as of June 30.
Hotel Debut: Luxe City Center Hotel, owned by Bel Air-based Luxe Worldwide Hotels, has opened in downtown Los Angeles after a multimillion-dollar renovation. Luxe City Center, which used to be a Holiday Inn hotel, is across from the Staples Center and L.A. Live.
Mobile Buy: Mandalay Digital Group Inc., a mobile services firm on Wilshire Boulevard just east of Miracle Mile, has signed an agreement to acquire Mia, a Sydney, Australia, mobile services firm. Mandalay executives said the pickup of Mia would boost its mobile content and global reach.
Elderly Care: Levine Leichtman Capital Partners Inc., a Beverly Hills-based private-equity firm, has announced completion of its acquisition of SH Franchising LLC, a Timonium, Md.- franchisor private-pay in-home care for elderly customers under the Senior Helpers brand. Levine Leichtman partnered with SH management to complete the acquisition. Financial terms of the deal were not disclosed.
Entertainment Acquisition: LFP Broadcasting LLC, a Beverly Hills provider of adult TV content, has reached an agreement to acquire New Frontier Media Inc., a Boulder, Colo., distributor of adult TV and film content. LFP, a subsidiary of Larry Flynt’s LFP Inc., has offered $2.02 per common share for New Frontier, for a deal valued at $33 million, and a contingent cash payment right for each common share. The pickup price represents an approximate 79 percent premium to New Frontier’s closing stock price March 8. The acquisition is expected to close this year.
SAN FERNANDO VALLEY
Powered Up: Quallion LLC, a Sylmar manufacturer of batteries, has received a $2.2 million grant from the California Energy Commission to improve lithium ion batteries used in electric vehicles. Quallion will use the funding to invest in its manufacturing facilities to pursue new applications for advanced batteries, said President Paul Beach.
Industrial Property: Flashing Blinky Lights, a retailer of light-up merchandise and promotional products, has purchased a Sun Valley industrial building for $4.1 million from Condorff & Hooker LLC. The 55,400-square-foot property, at 10800-10810 Cantara St., was built in 1962 and renovated in 1988.
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