Mar 14, 2024

PCC Community Markets

Spear

PCC Community Markets named David Spear vice president of merchandising, promotions and sourcing. He now leads the merchandising team that sources PCC's product offerings with a dedication to fresh, organic, seasonal food that is sustainably sourced from over 800 local producers, farmers, ranchers, and fishers. He also holds a crucial role in shaping PCC's promotional go-to-market strategy, store experience, and the co-op's private label and pricing strategy. Spear has worked in food retail for more than 20 years, navigating a diverse range of roles that span merchandising, procurement, and operations. He comes to PCC following nearly 16 years at Whole Foods Market, most recently in the role of executive leader of operations. Prior to Whole Foods Market, Spear spent five years at the Chicago-based gourmet grocer, Fox & Obel Market. The addition of Spear to the co-op follows three other top leaders that joined PCC in 2022 to form a leadership team that is two-thirds represented by women at the helm. Founded in Seattle in 1953, PCC Community Markets is a certified organic retailer, and operates 15 neighborhood grocery stores in the Puget Sound area.

Frazier Healthcare Partners

Frazier Healthcare Partners has completed its acquisition of RevSpring, a provider of end-to-end communication and payment solutions servicing healthcare and financial services companies, from private equity firm GTCR. Frazier is joined in the transaction by NEA, 22C Capital, and RevSpring's senior leadership team. RevSpring helps customers accelerate revenue and increase engagement through an intelligent digital platform that includes omnichannel communication, payments, and analytic tools. Morgan Stanley and TripleTree acted as co-lead financial advisors to RevSpring, and William Blair acted as financial advisor to Frazier. Kirkland & Ellis served as legal counsel to RevSpring, and Goodwin Proctor served as legal counsel to Frazier. Founded in 1991, Frazier Healthcare Partners is a private equity firm focused exclusively on the healthcare industry. Frazier is headquartered in Seattle, and invests broadly across the U.S., Canada, and Europe. RevSpring is headquartered in Nashville.

Syncro

Seattle-based Syncro, a B2B SaaS company serving the managed services provider (MSP) industry, appointed Tim Lasonde as channel chief. Lasonde is replacing Ian Alexander, co-founder of Syncro, who will remain with the company as a strategic advisor. Bringing more than two decades of MSP industry expertise, Lasonde has held various roles from technician to president and COO of NSK. His guidance culminated in the successful acquisition of NSK by Focus Technology. After the acquisition, Lasonde assumed the role of senior vice president of managed services at Focus Technology. As channel chief Lasonde will spearhead strategic development initiatives, while fostering enhanced communication and collaboration with channel partners.

Mar 13, 2024

Sound Credit Union and Washington Business Bank

Sound Credit Union, a not-for-profit financial institution serving Washington State, and Washington Business Bank, a commercial bank headquartered in Olympia, have entered into a definitive agreement in which Sound Credit Union will acquire Washington Business Bank. The transaction is structured as a purchase agreement with Sound Credit Union purchasing substantially all assets and assuming substantially all liabilities of Washington Business Bank. Washington Business Bank customers will become members of Sound Credit Union with full access to all Sound Credit Union's products and services. The transaction has been unanimously approved by the boards of directors of both institutions. Following the completion of the transaction, Washington Business Bank will liquidate and dissolve and distribute its remaining assets to its shareholders. When finalized, the combined institution will have approximately $3.0 billion in assets, $2.3 billion in loans, $2.5 billion in deposits, serve more than 170,000 members, and will have 27 branches throughout King, Pierce, Snohomish, and Thurston Counties. The transaction is expected to be completed in the fourth quarter of 2024, subject to receiving all regulatory approvals, Washington Business Bank shareholder approval, and other customary closing conditions. Once complete, Sound Credit Union will continue to operate Washington Business Bank's current location in downtown Olympia at 5th Avenue and Franklin Street. Sound Credit Union was advised in the transaction by ALM First as exclusive financial advisor and Honigman, LLP as legal counsel. Washington Business Bank was advised by D.A. Davidson & Co. as exclusive financial advisor and Lane Powell as legal counsel.

Symetra

Symetra Financial Corporation received a 2024 Diversity, Equity & Inclusion Award from the Bank Insurance & Securities Association (BISA), which annually recognizes the successful diversity efforts of organizations from the financial services industry. The BISA award recognizes member firms that demonstrate outstanding leadership, innovation, and results in diversity management. It aims to promote the sharing of effective diversity strategies and tactics that create an impact within the industry as well as encourage and promote active participation by senior management in diversity efforts across the industry. BISA is a financial services industry association dedicated to serving those responsible for the marketing, sales and distribution of securities, insurance, and other financial products and advisory services. Symetra is a diversified financial services company based in Bellevue, providing employee benefits, annuities and life insurance through a national network of benefit consultants, financial institutions, and independent financial professionals and insurance producers.

Mar 12, 2024

Idea Decanter

Idea Decanter, a video marketing agency based in the Seattle area that helps financial advisors write, record, produce, and market custom-created videos, announced a partnership with FMG to bring custom videos to the website platform. FMG powers an all-in-one marketing technology platform designed for financial advisors and insurance agents, and recently launched a new offering that provides enhanced customization options and design support. Through the partnership, Idea Decanter will now enable FMG's customers to record videos in the comfort of their office. The package includes help planning, shooting, and producing video that will integrate with all new FMG Premium Websites. For both existing FMG website customers and advisors who are new to the platform, Idea Decanter will ship out a pop-up studio and direct a remote shoot to record custom video. Idea Decanter was established in 2014 by Laura Garfield and Sharon Gottula. Garfield is a former broadcast journalist, and Gottula has over 20 years of professional photography and multimedia videography experience.

Absolute Software

Absolute Software, a global provider of enterprise cyber resilience, appointed Saul Gates as chief financial officer. As a financial leadership veteran, Gates has guided technology organizations through all phases of growth, from startup to successful acquisitions and IPOs. Prior to Absolute, he was CFO of Level Access, where he oversaw the company's financial operations from its beginning through an acquisition by global investment firm KKR. Before Level Access Gates was CFO at Telarix and INRIX, and held senior roles at Coinstar, Microsoft, and PWC. He is a graduate of the University of Washington Michal G. Foster School of Business. He holds a bachelor's of business administration in accounting. Absolute Software is headquartered in Vancouver, B.C., with offices in the United States, including Seattle.

Kymeta

Flat panel satellite antenna company Kymeta announced leadership and board changes. Effective April 1, Rick Bergman will become the president and CEO of Kymeta. His most recent role was executive vice president, computing and graphics at AMD. Bergman also served as president and CEO of Synaptics (SYNA) during their high growth phase from 2011 to 2019. Nicole Piasecki will be appointed chairperson of the board, succeeding Doug Hutcheson. Piasecki, who joined the board in May 2022, brings an extensive background from the aerospace and defense sector. Additionally, effective March 31, Doug Hutcheson and Walter Berger are retiring from Kymeta. Kymeta recently completed its Series D financing round. These additional funds will be used for ramping up production of the recently announced Osprey u8 Hybrid-GEO-LEO and future product generations. Kymeta is a privately held company based in Redmond.