This month’s top deals from around Southern California
Calabasas Firm TicketManager Acquired by Private Equity Firm for $110 Million
Private equity firm Valeas Capital Partners acquired a majority stake in Calabasas-based TicketManager, an event ticket and guest management services provider, for $110 million. TicketManager co-founder and chief executive Tony Knopp and COO Ken Hanscom retained a minority interest in the company.
Shortly after the private equity investment, TicketManager acquired substantially all the assets of Ovations, a corporate ticketing solutions and hospitality platform.
“Ovations is a trailblazer in our industry, and we’re excited to welcome the team and their loyal customers to the TicketManager community,” said Tony Knopp, chief executive and co-founder of TicketManager, in a statement.
Sourced from TicketManager.
Santa Ana Mortgage Company HomeXpress Acquired by Chimera Investment Corp.
Chimera Investment Corp., a New York-based real estate investment trust, agreed to acquire Santa Ana-based HomeXpress Mortgage Corp. from certain affiliates of Seer Capital Management’s credit fund business and management sellers. HomeXpress is an originator of mortgage loan products with a nationwide presence across 46 states and Washington, D.C. The transaction is expected to close during the fourth quarter of 2025.
“We are thrilled to welcome HomeXpress to the Chimera team,” said Phillip J. Kardis II, chief executive and president of Chimera, in a statement. “Bringing together Chimera’s strong history of loan securitization, structured finance and thirdparty loan management and advisory services with HomeXpress’ loan origination platform is expected to create a powerful combination and enhance our enterprise value.”
Sourced from Chimera Investment Corp.
Irvine’s Five Point Holdings Acquires Hearthstone Residential for $59.25 Million
Irvine-based Five Point Holdings agreed to acquire a 75% stake in Hearthstone Residential Holdings LLC from Hearthstone Inc. and The Mark and Lynn Porath 2000 Trust for $59.25 million. Five Point agreed to pay $56.25 million in cash and up to $3 million in stock. The acquisition is expected to close by the end of the third quarter.
“Hearthstone has built an impressive track record over more than three decades, consistently delivering value through changing market conditions, and we are very excited to bring this exceptional platform and talented team into Five Point,” said Dan Hedigan, chief executive and president of Five Point, in a statement.
Sourced from Five Point Holdings.
Los Angeles Social Media Firm Snap Acquired Calendar App Saturn
Los Angeles-based Snap Inc. acquired Saturn, a calendar app for high school and college students. Terms were not disclosed, but nearly 30 full-time Saturn employees will join the company as part of the acquisition.
Saturn was founded by Dylan Diamond, who serves as its CEO, and Max Baron, who serves as COO. It had previously raised capital from highprofile investors for its shareable calendar app.
It billed itself as the first calendar for high school and supports rotation calendars, block schedules, lunch waves and modified schedules.
Sourced from Saturn.
Valencia Marketing Firm Hennessey Digital Acquired by Herringbone Digital
Herringbone Digital, a digital marketing platform backed by private equity firm Trinity Hunt Partners, acquired Valencia-based Hennessey Digital, a digital marketing agency serving law firms nationwide. This acquisition marks Herringbone Digital’s first investment in the legal marketing vertical.
Hennessey Digital was founded in 2015 by Jason Hennessey to focus on search engine optimization and other digital marketing services for law firms, with a focus on personal injury practices. The company had 125 employees who were fully remote at the time of the acquisition.
“This partnership represents a transformative new chapter for Hennessey Digital and our team," said Jason Hennessey, chief executive and founder of Hennessey Digital, in a statement.
Sourced from Hennessey Digital.
Water Solutions Firm Phyn Acquired by Television Personality Jonathan Scott
Phyn, an intelligent water solutions firm that was owned by Los Angeles-based Belkin, was acquired by a group of investors led by entrepreneur and television personality Jonathan Scott for $24.9 million. The investment will make Phyn an independent company as it expands with insurance, property management, building, utilities and home services.
“As someone who’s renovated more than a thousand homes, I’ve seen the damage a hidden leak can cause,” said Jonathan Scott, in a statement. “I’ve used Phyn in my own homes for years.”
Other investors include Intuit co-founder Tom Proulx, Silicon Valley investor David Marquardt and Allen Sands, founder of Icon Builders, a national leader in occupied affordable and multifamily housing.
Sourced from Phyn.
-David Nusbaum
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