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Saturday, Feb 4, 2023

AROUND THE VALLEYS

San Fernando Valley CANOGA PARK The Free Speech Coalition has rebranded itself and debuted a new logo. The trade group for the adult entertainment industry had originally intended to introduce the rebranding in May, Michelle LeBlanc, the executive director, wrote in a statement posted on the organization’s website. “As with nearly everything else in our lives right now, plans changed,” she wrote. The coalition hired Nomancy Design LLC, in Honolulu, in February to design the new logo – a shield with the abstract shape of a body. “FSC provides armor for the adult industry, which needs protecting now more than ever,” LeBlanc said in the statement of the significance of the new logo. CHATSWORTH Aerospace manufacturer Ontic has signed a licensing deal with Honeywell International Inc. to assemble and sell the company’s legacy aircraft windshield wipers, including wiper motor, arms, blades and components, as well as provide aftermarket servicing and repairs. The wipers are used on commercial planes including the Embraer ERJ and The Boeing Company’s 757, 767, 777 and 777X series, and military aircraft including Boeing’s C-17 transport and KC-46 refueling planes. The product line is currently made at Honeywell’s facility in Urbana, Ohio, and will soon be moved to Ontic’s manufacturing plant in Creedmoor, N.C. Ontic has additional facilities in Plainview, N.Y. and in the United Kingdom and Singapore. Ontic has been working with Honeywell since 1983; the wiper deal represents the 38th license agreement between the companies. SHERMAN OAKS Tot Squad has sold its baby equipment cleaning business to BabyQuip, a rental service for baby gear based in the Bay Area. Financial terms of the acquisition were not disclosed. Tot Squad connects parents with a network of childcare professionals such as sleep and lactation consultants. The company’s cleaning service makes house calls for crib and stroller sanitization and repair. The acquired line of business has been rebranded as BabyQuip Cleaning Services. In L.A., the service will still operate out of Tot Squad’s Sherman Oaks office, which will retain its employees.BabyQuip will train its network of over 600 “quality providers” – independent contractors who rent out their own baby gear on BabyQuip’s platform – on Tot Squad’s cleaning methods. Also, BabyQuip will take over Tot Squad’s partnership with rideshare app Uber, in which the cleaning service sanitizes car seats and handles for Uber drivers in New York City. WOODLAND HILLS PCF Insurance Services has been acquired by HGGC, a middle-market private equity firm in Palo Alto. Financial terms of the transaction were not disclosed. PCF will keep its headquarters in Woodland Hills, as well as its offices throughout the country. Management, owners and existing investors including private firm BHMS Investments will retain minority stakes in the insurance brokerage following the acquisition. PCF has been extremely active, having completed 18 acquisitions of its own since 2018. It has more than 400 employees nationwide. In a statement, HGGC Co-President Steve Young said he’s excited by PCF’s “mix of diversified customers, blue-chip carriers, scalable financial profile and strong leadership.” Waller Helms Advisors acted as the purchase advisor to HGGC while Sica Fletcher and TAG Financial Institutions Group acted as sell-side advisors to PCF. Santa Clarita Valley VALENCIA Fountainhead Development of Newport Beach has sold a retail building for single-tenant Circle K convenience store and gas station in Valencia for $4 million. The new 3,819-square-foot convenience store building and fuel station sits on 1.31 acres. It is located on the hard corner of the signalized intersection of Copper Hill Drive and Rio Norte Drive, with an estimated traffic of 36,000 cars per day. Hanley Investment Group Executive Vice Presidents Bill Asher and Jeff Lefko represented Fountainhead Development. Edan Amar and Idan Cohen of Keller Williams Realty in West Hollywood represented the buyer, a private trust in Beverly Hills. “Circle K featured a new, long-term corporate guaranteed lease that was very attractive to single-tenant net-leased investors in today’s market,” Hanley’s Asher said. Tri-Cities BURBANK Walt Disney Co. will begin furloughing all non-essential employees at its U.S. operations beginning April 19, according to media reports. The entertainment and media giant said in a statement that mandatory orders from government officials responding to the coronavirus outbreak have forced it to shut down most of its businesses. “Disney employees have received full pay and benefits during this time, and we’ve committed to paying them through April 18,” the company’s statement said. “However, with no clear indication of when we can restart our businesses, we’re forced to make the difficult decision to take the next step and furlough employees whose jobs aren’t necessary at this time.” Disney also announced that it will keep its theme parks in California and Florida closed indefinitely. Disneyland and Disney California Adventure in Anaheim and Walt Disney World in Orlando were scheduled to re-open on April 1. In addition, the company scaled back on film and television production, delayed new film releases and suspended its cruise line. “All impacted workers will remain Disney employees through the duration of the furlough period,” the statement said. “They will receive full health-care benefits, plus the cost of employee and company premiums will be paid by Disney.” Ventura County THOUSAND OAKS Dianne McKay has assumed full ownership of Mustang Marketing as the company’s founder Scott Harris has retired to South Carolina. McKay joined the Thousand Oaks marketing, advertising and communications company in 2010 and has co-owned the agency with Harris since 2016. In her roles as president and partner at Mustang, McKay has been hands-on in overseeing client accounts, strategic planning and creative development. “Scott’s retirement has been long planned, and I’m ready to take on this next chapter with a strong team in place at Mustang that will work together to navigate the landscape as we continue to provide high-quality work and support to our clients,” McKay said in a statement. Harris will still be available for consulting work for the firm he founded in 1986 and grew into one of the largest full-service marketing agencies in Ventura County. A 158,885-square-foot office campus at 225 W. Hillcrest Drive in Thousand Oaks has sold for $21.6 million, according to brokerage Newmark Knight Frank. The asset is 74 percent leased to Bank of America until December. Bank of America, which occupies 115,570 square feet, employs roughly 175 people at the location and has been there since 2006. Toyota Motor Credit Corp. signed a lease that begins in April. The building, which sits on nearly 13 acres of land, was built in 1983 and went through a renovation in 2007. NKF’s Co-Head of U.S. Capital Markets Kevin Shannon, Executive Managing Directors Ken White and Rob Hannan, and Senior Managing Director Laura Stumm, along with NKF Private Capital Group’s Executive Managing Director Sean Fulp, Managing Director Ryan Plummer and Director Mark Schuessler, represented the seller, a venture between Colony Capital Inc. and SteelWave. The buyer, TriStar Realty Group was represented by John La Sparda of CBRE’s Oxnard branch. WESTLAKE VILLAGE LTC Properties Inc. has sold its Preferred Care portfolio for $78 million, according to a statement from the senior housing real estate investment trust.The portfolio includes 21 properties with more than 2,500 beds at facilities in Arizona, Colorado, Iowa, Kansas and Texas, according to the company. These properties were sold in the first quarter of this year. Another property in the Preferred Care portfolio sold last year. Florida-based nursing home group Preferred Care filed for Chapter 11 reorganization status in 2017 due to personal injury lawsuits, according to a Reuters report.

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