Antelope ValleyMOJAVEMasten Space Systems has been chosen by NASA to receive two Tipping Point awards as part of the space agency’s Artemis mission to return to the moon by 2024. The commercial space company said it will develop a chemical heating solution to help spacecraft survive in sunlight-deprived lunar environments and drive completion of an aerospace testbed named Xogdor to provide a flight test equivalent for critical Artemis technologies. “It’s an honor to be in such great company with all these amazing awards as NASA’s forward-looking Space Technology Mission Directorate steps up to fund the private companies who are producing out-of-the-box innovations that will take America back to the moon,” Masten Chief Executive Sean Mahoney said in a statement.
San Fernando ValleyCHATSWORTHChatsworth aerospace manufacturer Ontic has acquired manufacturing rights from Pratt & Whitney Canada Corp. for more of its JT15D engine parts. This is the fourth phase of an acquisition process that began in 2015, the companies said, adding to Ontic’s portfolio of engine support capabilities. The company will manufacture and sell JT15D components through its Chatsworth facility and continue distribution through Boeing, Ontic said in a press release.
NORTHRIDGECalifornia State University – Northridge has chosen Erika Beck as its president. Beck currently serves as president for California State University – Channel Islands in Camarillo. She will assume her new role in Northridge on Jan. 11, replacing President Dianne Harrison who previously announced her retirement. Under Beck’s leadership, the four-year graduation rate for first-year students at CSUCI reached an all-time high, the university system said. Prior to Channel Islands, Beck served as provost and executive vice president for Nevada State College.Two businessmen from the San Fernando Valley region were named in a federal criminal complaint for alleged participation in a nearly $2 million fraud involving PPP loans, according to the Justice Department. Steven Goldstein, 36, of Northridge, was arrested for fraud in connection with major disaster or emergency benefits, wire fraud, bank fraud, conspiracy and making false statements to the Small Business Administration, according to a statement issued by the Department of Justice. Raymond Magana, 39, of Santa Clarita, will be summoned to appear in federal court on the same charges. According to the criminal complaint, the pair allegedly fabricated multiple shell companies to apply for Payroll Protection Program loans, fabricating wage and tax documents as well as employee counts. One of the shell companies, The Building Circle, was allegedly approved for $940,416 in federal aid. Investigators later determined that the address given as the company’s headquarters was a single-family residence, not a business. Three other fake companies allegedly created by Magana and Goldstein received a total of more than $1 million, the Justice Department reported. If convicted, Magana and Goldstein face a maximum sentence of 127 years in federal prison.SHERMAN OAKSEntertainment and data company BEN will acquire San Diego-based TubeBuddy, which makes a browser extension and mobile app that helps YouTube content creators optimize their channels to reach the largest audience. Financial terms of the deal were not disclosed. BEN, which stands for Branded Entertainment Network, uses artificial intelligence to inform its clients’ product placement choices in film, television, music and social media projects. The acquisition presents an opportunity for BEN to apply its data analytics to popular YouTube content, helping creators further monetize their videos. Following the deal’s close, TubeBuddy will become a division of BEN Group. TubeBuddy founder and Chief Executive Rob Gabel will become general manager of the division. TubeBuddy’s staff will be integrated with the BEN team, and the company’s other founding partners will become strategic advisors to the new entity.VAN NUYSGulfstream Aerospace Corp. will move jobs to Van Nuys Airport from Long Beach as part of a streamlining and modernizing of its customer service. The closure of the Long Beach maintenance and modification facility will occur over the next six months as work shifts to the other locations, including the San Fernando Valley general aviation airport and facilities in Savannah, Ga., and Appleton, Wis. Mark Burns, president of Gulfstream, said the company has made significant investments to modernize and expand its manufacturing and service networks. “By leveraging these newer, more modern locations and synergies across the network, we can further enhance the overall experience for our customers, whether they’re taking delivery of a new aircraft or scheduling service,” Burns said in a statement.
Tri-CitiesBURBANKMatthew Louchheim has been named president of Bobrick Washroom Equipment Inc., the fourth generation to lead the family-owned company. Mark Louchheim, who had been president of the North Hollywood restroom equipment manufacturer, will become the chairman and chief executive. He is Matthew Louchheim’s father. Matthew Louchheim had previously been the vice president of corporate development and general manager of toilet partitions. Prior to joining Bobrick in 2010, he worked at Boston Consulting Group and the Institute for Healthcare Improvement. “Matthew is uniquely qualified to lead our growing global company into the future,” Mark Louchheim said in a statement. “He has first-hand experience with every facet of the business, from sales to operations, and the character and acumen to take on complex challenges.” Bobrick was founded in 1906 and was purchased by William Louchheim Sr., the great-grandfather of Matthew, in 1946. The company has business operations in 85 markets worldwide, with seven manufacturing divisions across the U.S., Canada and the U.K.Los Angeles-based printer Front Signs has signed a 10-year-lease to occupy a 24,468-square-foot portion of the 67,456 square foot multitenant warehouse at 3520-3560 Valhalla Drive in Burbank. The decade-long commitment from Front Signs — which provides 3-D printing, large format printing, cutting and engraving, sign fabrication and sign permitting — represents a major expansion for the company. Executive Vice Presidents Chad Gahr and David Young with NAI Capital Commercial’s Industrial Services Group in Encino brokered the lease on behalf of the tenant. “Burbank continues to see explosive rental rate growth and heightened demand from businesses seeking to operate within proximity of major entertainment studios,” Gahr said in a statement.GLENDALESoftware developer ServiceTitan has partnered with Service Finance Co., in Boca Raton, to provide financing solutions to home improvement contractors. Financial terms of the deal were not disclosed. The collaboration provides contractors with greater flexibility for financing strategies and allows technicians in the field to provide a convenient, secure way to apply for financing and move forward with jobs, the company said. Ara Mahdessian, co-founder and chief executive of ServiceTitan, which makes software to help contractors such as plumbers schedule and organize their business, said the company’s goal has been to make contractors successful and the ability to offer financing is a huge key to success. “This relationship with Service Finance ensures that our customers have the freedom to create the financing strategy that’s best for them and also gives their techs the tools they need to make the financing process easier and more profitable,” Mahdessian said in a statement.
Ventura CountyWESTLAKE VILLAGEMarvell Technology Group Ltd. is acquiring Inphi Corp., the San Jose semiconductor manufacturer that got its start in the Conejo Valley. In the transaction, Marvell, in Santa Clara, will pay $66 in cash in addition to 2.3 shares of the combined company for each share of Inphi, which trades on the Nasdaq. The deal will cost Marvell about $10 billion. Inphi has major operations in Westlake Village, where the company had been headquartered until about 10 years ago when it relocated to Silicon Valley. The deal will create a company with an enterprise value of $40 billion, according to the companies. Going forward, current Marvell stockholders will own about 83 percent of the company, with Inphi shareholders owning about 17 percent. The transaction is expected to close by the second half of calendar 2021.
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