Building Momentum: Ares Management, a Century City investment firm, and Canada’s Ontario Teachers’ Pension Plan have completed the acquisition of CPG International Inc., a Scranton, Pa., maker of low-maintenance building products designed to replace wood, metal and other traditional materials. After the transaction closed, CPG International Inc. was converted into a limited liability company. Financial terms of the deal were not disclosed.
Public Offering: TCP Capital Corp., a Santa Monica investment firm, has priced a public offering of 3.8 million common shares at $15.76 per share for total gross proceeds of about $60 million. The offering was expected to close on or about Oct. 1. TCP intends to use net proceeds to repay amounts outstanding under its revolving credit facilities.
Environmental Work: Pasadena’s Jacobs Engineering Group Inc. has been awarded a water and environmental management framework contract from England’s Environment Agency. Officials did not disclose the contract value, but the contract is for four years with an option to extend for two more, and supports the delivery of an estimated $5 billion of flood and coastal risk management investment throughout England. Under terms of the deal, Jacobs is eligible to work on projects including strategic flood modeling and engineering consultancy services.
Shot in Arm: An Orange County doctors group has signed an agreement to join ApolloMed ACO, a subsidiary of Glendale’s Apollo Medical Holding Inc. Under the agreement, ApolloMed will provide support services to Garden Grove’s Physician Partners IPA physicians and specialists network. ApolloMed is an accountable care organization, which coordinates care among doctors, hospitals and other health providers for Medicare patients.
DOWNTOWN LOS ANGELES
Banking Buy: Grandpoint Bank, owned by downtown L.A.’s Grandpoint Capital Inc., has completed its acquisition of Gilmore Bank from A.F. Gilmore Co., based at the Original Farmers Market in L.A’s Fairfax District. Grandpoint adds the Fairfax office and another in La Canada Flintridge to its locations. Gilmore Bank had $2 billion in assets at the time of acquisition.
Moving In: U.S. Apparel Group, a downtown L.A. clothing company, has purchased a downtown office building for $14 million from LaeRoc Partners Inc. The nine-story, 108,000-square-foot office property, at 910 S. Los Angeles St., was built in 1946. U.S. Apparel plans to use 10 percent of the building for a division of the company.
SAN FERNANDO VALLEY
Tuned Up: DTS Inc., a Calabasas audio technology company, has formed a partnership with Deezer, a Paris-headquartered music streaming service, to extend the reach of DTS’ Play-Fi mobile app. DTS stands to add about 4 million listeners in 182 countries through the agreement with Deezer.
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