Business 12-17

Wind turbine maker Clipper Windpower, based in Carpinteria, sold 49.5 percent of the company to United Technologies Corp. for $270 million on 12/9. Despite huge revenue growth, Clipper Windpower had struggled to stay afloat during the recession; the company turned in a $313-million loss in 2008. The losses and job cuts occurred despite revenue increases to $737 million from $24 million the year before.

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Santa Barbara-based Select Staffing announced on 12/11 that it will go public in a $840 million merger with Florida-based Atlas Acquisition Holding Corp., a publicly traded firm with the sole purpose of buying into an operating company. Select Staffing says it hopes to retire $200 million in debt as a result of the merger. Select has grown dramatically in recent years through the acquisition of dozens of companies, and employs approximately 750 people in the region.