North Bay Business Journal

Willis Lease Finance agrees to buy $300 million aircraft for move into regional airlines

NOVATO — Aircraft and engine lessor Willis Lease Finance Corp. (Nasdaq: WLFC) today said it signed a memorandum of understanding with an Italian-Russian aviation joint venture to spend an estimated $300 million on six jets tailored to regional airlines with an option to purchase four more.

Autodesk leads $6 million funding round for construction software startup

SAN RAFAEL — A Massachusetts-based construction industry software startup today said Autodesk Inc. (Nasdaq: ADSK) led a $6 million series B round of equity financing.

Top Real Estate Projects Awards nominations open

NORTH BAY — The Business Journal has opened nominations for top real estate projects and the key industry players who made them possible for its fifth-annual 2010 Top Projects Awards. Nominations must be submitted by Friday, Sept. 24. Winning companies will be featured in a special publication supplementing the Dec. 6 issue and honored at a gala reception in December that will recognize commercial and residential building projects in Sonoma, Napa and Marin counties. To enter a nomination, submit online at www.NorthBayBusinessJournal.com, or print out a nomination form and fax it to 707-521-5292 or mail it to 427 Mendocino Ave., Santa Rosa, CA 95401 ATTN: Top Projects.

Sonoma Valley, Napa State hospitals reach acute care deal

SONOMA and NAPA — Sonoma Valley Hospital and Napa State Hospital have agreed on terms of a contract that would provide acute care for patients from the state-run psychiatric care facility in Napa, boosting patient volume up by 5 percent to 10 percent at the 83-bed hospital in Sonoma.

George Petersen Insurance acquires NorthWest

SANTA ROSA — George Petersen Insurance Agency today announced it acquired longtime competitor NorthWest Insurance Agency Inc., bringing together the North Bay’s second- and fifth-largest property and casualty insurance brokerages.

The acquisition, set to begin Sept. 1, includes six NorthWest Insurance operations in Santa Rosa, Napa, Ukiah, Gualala, Fort Bragg and Eureka, according to George Petersen President and Chief Executive Officer Charlie Bussman. Other terms of the acquisition were not disclosed.

Orders rising for food processing equipment

SANTA ROSA — Demand for processed foods is soaring, bringing a surge of orders to processing equipment maker Blentech Corp.

School land, water source among new Napa Pipe elements

NAPA — The developers of Napa Pipe have agreed to several additions to the proposed mixed-use neighborhood project including donating 10 acres for a school and a shift from groundwater to surface water for residents. The changes will be released in a supplemental Environmental Impact Report this fall.

Sonoma Bank parent Sterling closes $730 million cash infusion

NORTH BAY — Sterling Financial Corp., parent company of Sonoma Bank in Santa Rosa and Sterling Savings Bank, last week completed a transaction raising $730 million, bringing the bank to the required capital ratios set by regulators and leading the institution on the road to recovery.

InfoStor document storage adds shredding service

SANTA ROSA — Sometimes the best way to deal with a challenging economy is to get aggressive.

American Canyon chamber names new CEO

AMERICAN CANYON — The American Canyon Chamber of Commerce board of directors named Susan Lane of Napa as the new president and chief executive officer of the 300-plus-member business group.

The chamber had been considering more than two dozen candidates from across the U.S. to replace Pam Wilkinson, who left recently to take another position.