Dealwatch

Dealwatch

A roundup of timely transactions, mergers and big deals.
  1. Umpqua Bank has taken over Nevada Security Bank after the FDIC seized the assets of the Reno-based bank. The FDIC and Umpqua will split losses on $368.2 million of Nevada Security Bank’s loans and other assets, and Umpqua will acquire Nevada Security’s California-based Silverado Bank. Umpqua has taken over four failing banks since 2009.
  2. As of early July, corporate raider and billionaire Carl Icahn had built his ownership stake in Hillsboro-based Mentor Graphics to nearly 12%, worth roughly $86.4 million. Icahn’s rapid investments have put Mentor on the defense — the board recently adopted a “poison pill” meant to prevent any unwanted takeover. Icahn is infamous for forcing underperforming companies to restructure.
  3. New York-based private equity group Warburg Pincus has agreed to invest up to $50 million in Portland-based Home Dialysis Plus. Home Dialysis makes a portable system that gives patients a gentler alternative to traditional, lengthy dialysis treatments. The company plans to manufacture the device in Oregon.
  4. San Jose-based Solexant has secured a $41.5 million Series C round of financing, which will fund the construction of a commercial-scale factory in Gresham. Solexant is also seeking a $25 million loan from the Oregon Department of Energy. Solexant specializes in thin-film solar technology, which competes with the silicon technology used by SolarWorld, which empoys 500 in Hillsboro.
  5. Hillsboro-based ClearEdge Power has reached a three-year $40 million agreement with LS Industrial Systems to distribute 800 hydrogen-powered fuel cells throughout Korea. ClearEdge expects to double its workforce to 300 by the end of the year. Each fuel cell can generate enough electricity to power a small business or a large residence.
JESSICA HOCH