TRI-CITIES
GLENDALE
Eatery Deal: DineEquity Inc., a Glendale-based operator of restaurant chains, has sold 30 company-operated Applebee’s restaurants in Washington, D.C., and the surrounding area to Potomac Family Dining Group. The transaction is expected to produce about $32 million in cash and a tax liability of $5 million.
WESTSIDE
CENTURY CITY
Homelessness Grants: The Conrad N. Hilton Foundation, a Century City-based non-profit, has announced $13 million in grants to fund key components of the Los Angeles Business Leaders Task Force on Homelessness’ campaign. The grants include $9 million to help create 2,500 permanent supportive housing units.
BEVERLY HILLS
Secondary Offering: RealD Inc., a Beverly Hills maker of 3-D cinema and home-viewing technologies, has priced its previously announced secondary offering of 7.8 million shares of its common stock at $27.75. Stockholders, including at least one insider, are selling shares at the fixed price; RealD is not selling any shares and will not receive any proceeds from stock sales by shareholders.
WESTWOOD
Power Sale: Gores Group LLC, a Westwood private equity firm, has sold Vincotech Holdings Sarl to Tokyo-based Mitsubishi Electric Corp. Vincotech, which is headquartered in Luxembourg, is a maker of low-power power modules used in industrial applications. Financial terms of the deal were not disclosed.
SAN FERNANDO VALLEY
NORTH HOLLYWOOD
Polished Up: OPI Products Inc., a North Hollywood maker of nail polish, has been acquired by Coty Inc., a New York-based beauty products company. OPI will remain in North Hollywood and the management will remain intact. Financial terms of the deal were not disclosed.
CENTRAL AREA
DOWNTOWN LOS ANGELES
Steel Deal: Reliance Steel & Aluminum Co., a downtown L.A.-based maker of metal products, has acquired Lampros Steel Inc. and subsidiary Lampros Steel Plate Distribution LLC. Lampros Steel is a Portland, Ore., steel service company. Financial terms of the deal were not disclosed.
MID-CITY
Unusual Site: OriginOil Inc., a Mid-City developer of algae-to-oil technology, has been selected to help build the Advanced Algae Center in Roswell, N.M. OriginOil will work with Sustainable Resources Inc., a Santa Fe, N.M., sustainable energy company, to build the center, which will focus on developing algae uses for commercialization.
SAN GABRIEL VALLEY
MONROVIA
Taking Off: Aerovironment Inc., a Monrovia maker of unmanned aerial vehicles, has received a $4.9 million order from the Norwegian military. The Raven, a small aircraft system, spares and training service will begin in early 2011 to the Norwegian Defense Logistics Organization.
