Mergers & acquisitions report: June 2008.The Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. mergers and acqusitions market recovered somewhat in June, as 63 deals with an announced value of $4.15 billion were completed. That activity was an improvement over May, which recorded 52 deals with an announced value of just $1.07 billion--the weakest month on record in at least three years. Last year, before the full effects of the credit crunch Credit Crunch An economic condition whereby investment capital is difficult to obtain. Banks and investors become weary of lending funds to corporations thereby driving up the price of debt products for borrowers. hit, announced values topped $12 billion in June. Through the first half of the year, there were 389 deals--just 22 fewer than a mid-year 2007--but announced values were off 45 percent to $23.9 billion. Last month, only two deals topped the $1 billion mark. One was Blackstone Group's $1.59 billion acquisition of home health care provider Apria Healthcare Group, a portfolio company of L.A.-based Tradewinds NWQ Global Investors LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . The other was Los Angeles-based Reliance Steel & Aluminum Co.'s $1.1 billion acquisition of steel wholesaler PNA PNA Palestinian National Authority PNA Phoneline Networking Alliance PNA Peptide Nucleic Acid PNA Personal Navigation Assistant PNA Pacific/North American PNA Polish National Alliance (established 1880 in Chicago, Illinois) Group Inc. of Atlanta. What follows is a list of deals in which either the acquirer, seller or targeted business was based in Los Angeles. BUSINESS SERVICES Target: Berkeley Capital Management LLC, a portfolio company of several private equity groups, including Lovell Minnick Partners LLC (El Segundo El Segundo (ĕl sēgŭn`dō), industrial city (1990 pop. 15,223), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1917. Its products include navigation and computer systems, aircraft parts, office machines, telephone apparatus, and ) Business: Provides investment management services Acquirer: Forward Management LLC (San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden ) Deal Value: ND Target: Elliott Laboratories Inc. (Sunnyvale) Business: Provides product testing services Acquirer: National Technical Systems Inc. (Calabasas) Deal Value: ND Target: Entertainment Brokers International Insurance Services LLC (Los Angeles) Business: Provides commercial insurance services Acquirer: OneBeacon Insurance Group OneBeacon Insurance Group offers a range of specialty and segmented commercial and personal insurance products sold primarily through select independent agents. As one of the oldest property and casualty insurers in the United States, OneBeacon traces its roots to 1831 and (Canton, MA) Deal Value: ND Target: Financial Management Advisors LLC (Los Angeles) Business: Provides investment management services Acquirer: First Western Financial Inc. (Denver, CO) Deal Value: ND Target: International Outsourcing Services LLC (Undisclosed, DE) Business: Provides coupon redemption services Acquirer: Marlin Equity Partners LLC (El Segundo) Deal Value: ND Target: Mediaburst Ltd.--Digital Faxing (Cheshire, UK) Business: Provides digital faxing services Acquirer: J2 Global Communications j2 Global Communications (Nasdaq:JCOM) is a company based in Hollywood, California that offers messaging and communications services. Its most popular service is called "eFax", which allows users to send and receive faxes via the Internet. j2 was previously called JFAX. Inc. (Hollywood) Deal Value: ND Target: Nett & Champion Insurance Services (Santa Barbara Santa Barbara (săn'tə bär`brə, –bərə), city (1990 pop. 85,571), seat of Santa Barbara co., S Calif., on the Pacific Ocean; inc. 1850. ) Business: Provides employee benefit consulting and brokerage services Acquirer: Hub International Hub International Limited is an insurance brokerage based in Chicago, Illinois. The company has 200+ offices across the United States and Canada. The company offers three types of commercial products and services: property and casualty products, employee benefits and risk of California Inc. (Los Angeles) Deal Value: ND Target: O'Connor & Hannan LLP LLP - Lower Layer Protocol (Washington, DC) Business: Provides legal consulting services Acquirer: Nossaman Guthner Knox & Elliott LLP (Los Angeles) Deal Value: ND Target: Pine Ridge Pine Ridge is the name of several places in the United States and Canada, including:
Business: Provides landscaping services Acquirer: ValleyCrest Cos. (Calabasas) Deal Value: ND Target: Price Associates Insurance Services Inc. (FeFresno) Business: Provides insurance services Acquirer: Warner Pacific Insurance Services Inc. (Westlake Village) Deal Value: ND Target: Strategic Vision Consulting Inc. (Valley Village) Business: Offers consulting services to the media industry Acquirer: Cognizant Technology Solutions Cognizant redirects here. For a definition of the word see the entry for at Wiktionary Cognizant Technology Solutions (NASDAQ: CTSH) is an information technology services company with headquarters in New Jersey U.S.A. Corp. (Teaneck, NJ) Deal Value: ND Target: TenantWIZ Software Inc. (Canada) Business: Provides property management software Acquirer: TenantWIZ Software Corp. (Los Angeles) Deal Value: ND Target: UTStarcom Inc.--mobile solutions (Alameda) Business: Provides mobile communication services Acquirer: OpenGate Capital LLC (Beverly Hills Beverly Hills, city (1990 pop. 31,971), Los Angeles co., S Calif., completely surrounded by the city of Los Angeles; inc. 1914. The largely residential city is home to many motion-picture and television personalities. ) Deal Value: ND CONSUMER Target: Femme femme adj. Slang Exhibiting stereotypical or exaggerated feminine traits. Used especially of lesbians and gay men. n. 1. Slang One who is femme. 2. Informal A woman or girl. Knits Inc.--Scrapbook (Westminster) Business: A clothing brand Acquirer: Panglobal Brands Inc. (Los Angeles) Deal Value: ND Target: Groove Tubes LLC (San Fernando San Fernando, city, Argentina San Fernando (săn fərnăn`dō), city (1991 pop. 144,761), Buenos Aires prov., E Argentina. It is a district administrative center in the Greater Buenos Aires area. ) Business: Manufactures vacuum tubes for audio products Acquirer: Fender Musical Instruments Corp. (Scottsdale, AZ) Deal Value: ND Target: Hanalei Bay Restaurant Group Inc. Business: Operates restaurants Acquirer: Westmoore Holdings Inc. (Los Angeles) Deal Value: $7.56 million Target: Helio LLC (Los Angeles) Business: Provides cellular phone services Acquirer: Virgin Mobile USA Virgin Mobile USA (NYSE: VM) is a cellular telephone company that is a joint-venture between Sir Richard Branson's Virgin Group and Sprint Nextel. Virgin Mobile USA uses Sprint's CDMA-based Personal Communications Service (PCS) network. Inc. (Warren, NJ) Deal Value: $39 million Target: Hyatt Regency Century Plaza (Los Angeles) Business: Operates as a hotel Acquirer: Next Century Associates LLC (Century City) Deal Value: $367 million Target: Jalpak International USA Inc. (El Segundo) Business: Provides travel agency services Acquirer: JTB JTB - jump trace buffer Corp. (Tokyo, Japan) Deal Value: $9.3 million Target: Leiner Health Products Leiner Health Products is a company based in Carson, California, and is one of America's largest manufacturers of vitamins, minerals, herbal nutritional supplements, and generic medications. Inc. (Carson) Business: Manufactures dietary supplements Acquirer: NBTY Inc. (Bohemia, NY) Deal Value: $371 million Target: Mo Industries Holdings Inc. (Los Angeles) Business: Markets apparel Acquirer: VF Corp. (Greensboro, NC) Deal Value: ND ENERGY Target: BreitBurn GP LLC (Los Angeles) Business: Explores and produces oil and gas Acquirer: BreitBurn Energy Partners LP (Los Angeles) Deal Value: $345 million Target: Curado Energy Resources Inc. (Dallas, TX) Business: Operates oil and gas wells Acquirer: Gulf Onshore Inc. (Beverly Hills) Deal Value: $250,000 Target: Natural gas reserves (Colorado) Business: 11,500 acres adjacent to Piceance Basin Acquirer: Plains Exploration & Production Co. (Houston, TX) & Occidental Petroleum Corp. (Los Angeles) Deal Value: $162 million Target: Red River Energy Inc. (Spring, TX) Business: Provides drilling services Acquirer: Great American Group (Woodland Hills) Deal Value: ND Target: US Biodiesel Group LLC, a subsidiary of US Renewables Group LLC (Santa Monica) Business: Produces biodiesel Acquirer: Renewable Energy Group Inc. (Ames, IA) Deal Value: ND FOOD Target: Click Wine Group (Seattle, WA) Business: Wholesales wine Acquirer: Winebow Inc. a subsidiary of Freeman Spogli & Co. (Los Angeles) Deal Value: ND Target: Groupe Smithfield SL, a subsidiary of Smithfield Foods Inc. & Oaktree Capital Management Oaktree Capital Management LLC is a US investment management corporation which operates a number of investment entities commonly known as hedge funds of approximately $40 Billion. LLC (Los Angeles) Business: Provides packaged meat products Acquirer: Campofrio Alimentacion, SA (Madrid, Spain) Deal Value: ND Target: Kyodo USA Inc. (Los Angeles) Business: Distributes pork products Acquirer: OBN OBN Open Business Network OBN Open Broadcast Network (Bosnia & Herzegovina wide television network) OBN Ohio Board of Nursing OBN Open Bibliotheek Netwerk OBN Order of the Brown Nose OBN Ocean Basin Narrative OBN Off Board Navigation Holdings Inc. (Las Vegas, NV) Deal Value: $600,000 HEALTH CARE Target: Apollo Medical Management Inc. (Layton, UT) Business: Development stage acquisition company Acquirer: Siclone Industries Inc. (Glendale) Deal Value: ND Target: Apria Healthcare Group Inc., a portfolio company of several private equity groups including Tradewinds NWQ Global Investors LLC (Los Angeles) Business: Provides home health care and related support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services Acquirer: The Blackstone Group (New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , NY) Deal Value: $1.59 billion Target: Big Cybernetics--Trauma Assets (La Verne) Business: Manufactures surgical equipment Acquirer: Pyng Medical Corp. (Richmond, Canada) Deal Value: $2.4 million Target: Bound Tree Medical LLC (Dublin, OH) Business: Supplies emergency medical equipment Acquirer: Tri-Anim Health Services health services Managed care The benefits covered under a health contract Inc. (Sylmar) Deal Value: ND Target: Care Level Management (Woodland Hills) Business: Provides home health care management services Acquirer: Inspiris Inc. (Brentwood, TN) Deal Value: ND Target: Continual Feast Companion Care (Minneapolis, MN) Business: Provides caretaker services Acquirer: LivHome Inc. (Los Angeles) Deal Value: ND Target: Hospitalists of America LLC (Coral Gables, FL) Business: Provides inpatient management services Acquirer: IPC (1) (InterProcess Communication) The exchange of data between one program and another either within the same computer or over a network. It implies a protocol that guarantees a response to a request. The Hospitalist hos·pi·tal·ist n. A physician, usually an internist, who specializes in the care of hospitalized patients. hospitalist Co. Inc. (N. Hollywood) Deal Value: ND Target: Innovive Pharmaceuticals Inc. (New York, NY) Business: Operates a biopharmaceutical company Acquirer: CytRx Corp. (Los Angeles) Deal Value: $25 million Target: Tarzana Regional Medical Center (Tarzana) Business: Provides health care services Acquirer: Prime Healthcare Services Prime Healthcare Services (Prime) is a hospital management company in Southern California. Founded by Dr. Prem Reddy in 2001, it is based in Victorville and Chino in California. It currently owns and operates 8 acute care hospitals. Prime is expanding its portfolio rapidly. Inc. (Victorville) Deal Value: NO Target: Texas Inpatient Services (Texas) Business: Provides inpatient management services Acquirer: IPC The Hospitalist Co. Inc. (N. Hollywood) Deal Value: ND Target: YEN Healthcare Advisors Pvt. (Mumbai, India) Business: Provides health care consulting Acquirer: London & Pacific Healthcare (El Segundo) Deal Value: ND INDUSTRIAL Target: Advanced Chemical Recycling Enterprises Inc. (Pasadena) Business: Manufactures chemicals Acquirer: High Velocity Alternative Energy Corp. (Bedford Park, IL) Deal Value: $1 million Target: Airtechnics Inc. (Wichita, KS) Business: Distributes electronic components Acquirer: Wesco Aircraft Hardware Corp. (Valencia) Deal Value: ND Target: Blue i UK Ltd. (Peterborough, UK) Business: Manufactures LED lighting products Acquirer: Pelican Products Inc. (Torrance) Deal Value: ND Target: PNA Group Inc. (Atlanta, CA) Business: Wholesales steel products Acquirer: Reliance Steel & Aluminum Co. (Los Angeles) Deal Value: $1.1 billion Target: Shen Shen, in the Bible, place, perhaps close to Bethel, near which Samuel set up the stone Ebenezer. Kun International Ltd. (British Virgin) Business: Manufactures ceramic valves Acquirer: Southern Sauce Co. Inc. (Westlake Village) Deal Value: ND Target: Titan Industries (South Gate) Business: Manufactures industrial hoses Acquirer: Parker Hannifin Corp. (Cleveland, OH) Deal Value: ND MEDIA Target: Atmosphere Apparel Ltd. (Hertfordshire, UK) Business: Provides music merchandising services Acquirer: Universal Music Group Inc. (Santa Monica) Deal Value: ND Target: Bologna Football Club (Bologna, Italy) Business: Operates a soccer club Acquirer: Tag Partners LLC (Beverly Hills) Deal Value: $27.8 million Target: Brand Connections LLC, a subsidiary of North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. Midway Entertainment LLC (W. Hollywood) Business: Provides marketing services Acquirer: Veronis Suhler Stevenson (New York, NY) Deal Value: ND Target: DIC DIC diffuse intravascular coagulation; disseminated intravascular coagulation. DIC abbr. disseminated intravascular coagulation Disseminated intravascular coagulation (DIC) Entertainment Holdings Inc. (Burbank) Business: Provides cable IV services Acquirer: Cookie Jar Entertainment (Toronto, Canada) Deal Value: $87.6 million Target: Jones Media Group (New York, NY) Business: Provides radio advertising services Acquirer: Triton Radio Networks, a subsidiary of Oaktree Capital Management LLC (Los Angeles) Deal Value: ND Target: Latin Television Inc. (Santa Monica) Business: Designs and installs communications systems Acquirer: Pure Play Music Ltd. (Norwich, UK) Deal Value: ND Target: Lugerinc AB & Moondog Entertainment AB (Stockholm, Sweden) Business: Provides live entertainment services Acquirer: Live Nation Inc. (Beverly Hills) Deal Value: ND Target: Movies.com (Burbank) Business: Provides online motion picture services Acquirer: Fandango fandango (făndăng`gō), ancient Spanish dance, probably of Moorish origin, that came into Europe in the 17th cent. It is in triple time and is danced by a single couple to the accompaniment of castanets, guitar, and songs sung by the Inc. (Los Angeles) Deal Value: ND Target: Peace Arch Home Entertainment Inc. (Toronto, Canada) Business: Provides motion picture production services Acquirer: Allumination FilmWorks LLC (Woodland Hills) Deal Value: ND REAL ESTATE Target: Campus Park (Stillwater, OK) Business: Operates apartment buildings Acquirer: SCI (Scalable Coherent Interface) An IEEE standard for a high-speed bus that uses wire or fiber-optic cable. It can transfer data up to 1GBytes/sec. (hardware) SCI - 1. Scalable Coherent Interface. 2. UART. Real Estate Investments LLC (Los Angeles) Deal Value: ND Target: Corporate Property Ltd. (Brisbane, Australia) Business: Provides commercial real estate services Acquirer: CB Richard Ellis CB Richard Ellis Group, Inc. NYSE: CBG is a multinational real estate corporation currently based in Los Angeles, California, U.S.A.. On December 20, 2006, the corporation, also known as CBRE, completed acquisition of Trammell Crow Co. in a transaction valued at $2. Group Inc. (Los Angeles) Deal Value: ND TECHNOLOGY Target: Azaire Networks Inc., a portfolio company of several private equity groups, including Rustic Canyon Partners (Santa Monica) Business: Provides telecom solutions for cellular phone service providers Acquirer: IntelliNet Technologies Inc. (Melbourne, FL) Deal Value: ND Target: Helium Systems LLC (Valencia) Business: Develops internal control software Acquirer: NetQos Inc. (Austin, TX) Deal Value: ND Target: MediaPal Inc. (Hollywood, FL) Business: Develops content management software Acquirer: Veridigm Inc. (Pacific Palisades Palisades, cliffs along the west bank of the Hudson River, NE N.J. and SE N.Y., extending from N of Jersey City, N.J., to the vicinity of Piermont, N.Y., with a general altitude of from 350 ft to 550 ft (107–168 m). ) Deal Value: ND Target: TechnoCom Corp. (Encino)--mobility solutions unit Business: Develops mobile telecom products Acquirer: Kapsch TrafficCom Inc. (San Diego) Deal Value: $15 million Target: MacNeal Group LLC (Altadena) Business: Develops enterprise analysis software Acquirer: MSC Software Corp. (Santa Ana) Deal Value: ND Target: Webb Research Corp. (East Falmouth, MA) Business: Manufactures underwater vehicles Acquirer: Teledyne Instruments Inc. (City of Industry) Deal Value: ND ND = Not disclosed All data is provided by Lazard Middle Market, the middle market business for Lazard, the financial advisory and asset management firm. The firm's middle market business advises on mergers and acquisitions, public offerings, restructurings and financings to middle market business. Lazard Middle secured the data from publicly available sources, which are considered reliable. The firm can be contacted at (310) 551-4111. |
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