Outsourcing Acquisition: An affiliated fund of Santa Monica buyout firm HandsOn3 has acquired BancTec Inc., a Dallas provider of business outsourcing services. HandsOn3 will combine BancTec with portfolio business Dataforce Group. Financial terms of the deal were not disclosed.
Investment Deal: Concentric Capital, a Beverly Hills wealth management firm, has been acquired by Telemus Capital, an investment and advisory firm in Southfield, Mich. Concentric Chief Executive David E. Post has joined Telemus’ management team. Financial terms of the deal were not disclosed.
Residential Purchase: A private investor has acquired a 16-unit Beverly Hills multifamily property for $6.7 million from Malibu’s Christina Development Corp. The Don Carlos Apartments, at 132 S. Bedford Drive, comprises one- and two two-bedroom apartments.
Dealer Alliance: Torrance’s Kubota Tractor Corp. has formed an alliance with Chicago’s Echo Inc. to expand their presence in the commercial turf, and consumer lawn and garden markets. Echo’s brands of handheld outdoor power equipment will become the preferred brand among the Kubota dealer network. Kubota Tractor is a division of Osaka, Japan’s Kubota Corp.
SAN FERNANDO VALLEY
Funding Round: ClubLocal, a Plano, Texas company that makes an app allowing people to buy household services, has completed a $10.7 million round of funding by Chicago discount deal site Groupon Inc.; individual investors; and the co-founders of ReachLocal Inc., a Woodland Hills local-business marketing company. The financing consists of an initial $7.5 million with an option for Groupon to contribute an additional $3.2 million within the next 12 months. As part of the funding deal, ClubLocal is moving its headquarters to Encino.
Sound Decision: Doremi Labs, a Burbank provider of digital video playback services, has been acquired by Dolby Laboratories Inc., a San Francisco TV and film production company. Dolby will pay $92.5 million for Doremi plus an additional $20 million contingent upon Doremi’s performance over a four-year period.
DOWNTOWN LOS ANGELES
Cloud Pickup: Otoy Inc., a downtown L.A. technology company, has acquired AppSlinger Inc., a San Francisco company that streams applications from cloud storage providers. The acquisition expands the cloud storage options for Otoy. Financial terms of the deal were not disclosed.
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