FINANCE

Recent and archived news stories on: banks, credit unions, mortgage lenders, SBA lenders, stocks/bonds, venture capital, wealth management, investment banks, factors, money managers, economic news and financial sector news

Architect Equity Acquires Oil Field Services Firm From Spanish Company

El Segundo-based Architect Equity has acquired oil industry services firm Timec Oil & Gas, Inc. from Spanish infrastructure company Ferrovial.

L.A. County Unemployment Rate Falls to 9.4% in October

Los Angeles County’s unemployment rate fell amid a hiring surge that saw employers in the county add 41,000 payroll jobs.

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Steno Agency Receives $20 Million in Financing From Rivonia Road Capital

Steno Agency Inc. received $20 million in debt financing from Rivonia Road Capital in addition to an equity investment in its most recent fundraise.

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Miracle Mile Advisors Merger to Bolster LA Firm’s East Coast Presence

Miracle Mile Advisors merged with Castle Asset Management, bringing its total assets under management to $3 billion.

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Houlihan Lokey Expands to Asia in Blockbuster Deal

Houlihan Lokey Inc. is the biggest independent merger and acquisition advisory company on the West Coast.

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Faze Clan Merges With B. Riley SPAC

Faze Clan Inc., a Burbank-based gaming, lifestyle and media company, plans to merge with a blank check company formed by Sawtelle-based financial services company B. Riley Financial Inc.

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Platinum Equity Sells Orbit Irrigation for $480 Million

Beverly Hills-based private equity firm Platinum Equity has agreed to sell sprinkler business Orbit Irrigation Products to Husqvarna Group in a transaction valued at $480 million.

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Banc of California Invests in Florida B2B Fintech

Jared Wolff, president and chief executive of Santa Ana-based Banc of California Inc., isn’t ruling out a bigger investment in a Florida-based fintech that aims to help its customers pay bills more efficiently.

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NowLake Invests in Canadian Fintech Lender

NowLake Technology, the Mid-Wilshire fintech parent of lending giant Westlake Technology Holdings and Nowcom Corp., has made a $12.1 million strategic investment with Axis Auto Finance Inc., a fintech lender servicing the Canadian auto finance market.

Angeles Equity Sells Circuit Card and Equipment Manufacturers

Santa Monica-based Angeles Equity Partners has sold two portfolio businesses in recent weeks as the private equity firm continues to scale platform companies purchased this summer focused on aerospace manufacturing and medical-related environmental services.

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Fika Invests in Founders to ‘Solve the Impossible’

At Fika Ventures, founder and General Partner Eva Ho said she invests to impact “the 99%, not the 1%.”

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Nonprofits Should Expect More

from their banks than just banking

Consultative financial, operational advice and hands-on assistance can help them become stronger, more efficient and more resilient.

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Winc Postpones $92 Million IPO

The wine subscription company was expected to go public this week.

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Ares Raises $5.1 Billion Middle-Market Fund

Century City-based Ares Management Corp. has raised $5.1 billion for a middle-market fund that aims to take market share from banks and other traditional lenders.

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Hanmi Financial Faces Lending Challenges After FDIC Review

Hanmi Financial Corp. has seen its share of stumbles in the market of late.

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