SAN FERNANDO VALLEY
Building Up: Ryland Group Inc., a Westlake Village homebuilder, has acquired Cornell Homes, a Philadelphia-based homebuilder. Ryland will retain all of Cornell’s employees and Cornell President Greg Lingo, will join Ryland as president of its Philadelphia division. Financial terms of the deal were not disclosed.
Alabama Pickup: IPC the Hospitalist Co. Inc., a North Hollywood owner and manager of doctors groups, has acquired Baldwin Physician Services Inc., a doctors group in Mobile, Ala. Financial terms of the deal were not disclosed. The BPS acquisition will add about 13,000 patient visits annually to IPC.
Community Assist: The Society of Industrial and Office Realtors’ greater L.A. chapter in Torrance has donated $10,000 raised by the society’s Golf Classic to Torrance non-profit Sharefest Community Development. The money will support Sharefest’s Youth Development Academy, which has mentored more than 1,200 students.
Setting Sail: Wyle, an El Segundo aerospace and defense contractor, has been awarded a contract with a value of $59 million to provide professional, technical, and administrative support services for the Air Warfare Division in the Office of the Chief of Naval Operations. Wyle will assist the Navy in the planning, resourcing and execution of naval aviation programs, readiness and manpower.
Sold Out: Levine Leichtman Capital Partners has completed the sale of Santa Cruz Nutritionals to RoundTable Healthcare Partners, a Lake Forest, Ill., private equity firm focused on the health care industry. Financial terms of the deal were not disclosed.
New Name: Lourd Capital Management, an independent investment advisory and financial planning firm in Beverly Hills, has rebranded as LourdMurray. The new name and branding change reflects the addition of Palmer Murray to the firm as president and co-managing partner.
Series A: Meditope Biosciences Inc., a Pasadena biotechnology company developing antibody-based cancer products, has raised $3.6 million in Series A funding from angel investors. Meditope will use the money to advance its proprietary monoclonal antibody linker technology platform.
Residential Acquisition: Roberts Cos. has purchased a Hollywood apartment building for $14 million from Blue Jay Group. The 75-unit, three-story property at 1134 N. Sycamore Ave. was built on seven-tenths of an acre in 1969.
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