Stories for October 2016

Monday, October 31

Software Division Buys in Canada

The Lake Forest-based software development arm of Schneider Electric said it plans to acquire software development company MaxEAM in Burlington, Ontario, Canada. on undisclosed terms.

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Hoag Gets Stroke Center Nod

Newport Beach-based Hoag Memorial Hospital Presbyterian has been certified as a “Comprehensive Stroke Center” by Milford, Ohio-based DNV GL Healthcare USA Inc.

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Apparel Firm Takes Over LA Plant

AST Sportswear Inc. in Brea plans to resume operations at the former American Apparel’s dyeing and finishing plant in Hawthorne in Los Angeles County, after acquiring its equipment in an auction.

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Midday Stock Roundup

The S&P 500 was up 0.2% in midday trading to 2,129.57.

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KPMG Names OC Managing Partner

Accounting firm KPMG named Mark Clemens managing partner for its Orange County office in Irvine.

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Schools Consultant, Ohio Firm Merge

Cooperative Strategies LLC in Irvine, an educational consulting firm, and DeJong-Richter LLC in Hilliard, Ohio, will combine to help plan finance schools nationwide under the Cooperative Strategies name.

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OC Bank Sells Division

Irvine-based Banc of California has sold a lending division and a collection of loans for a total gain of about $10 million.

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J.C. Penney Lists Massive Buena Park Facility for Sale

REAL ESTATE: 1.1M-SF industrial site could move for $125 million

J.C. Penney Co. has put its massive logistics and distribution facility in Buena Park on the market and plans to relocate operations to a smaller site in the Inland Empire.

Auto Dealership Moves Ahead at Former Nabisco Site

Buena Park Project Follows TRI Pointe Land Sale

A 4-acre development site in Buena Park that once was part of a larger Nabisco food manufacturing facility has seen a change in ownership.

NB Investment Firm Shifts Focus to VC Deals

Cambridge Cos. Moves Away from Real Estate

A Newport Beach investment firm transitioning out of real estate and into venture capital deals is raising an approximate $100 million fund.

Real Estate Deals

Sales and leases of offices, industrial buildings, retail space and apartments

A retail building in Costa Mesa was sold for $2.6 million, or about $1,100 per square foot.

Wang’s Consumer Electronics Vision Realized Post-Sale

LeEco Intros Motley Products With Same Brain

LeEco’s recent U.S. launch, which included a long press event in San Francisco, may have provided a glimpse into why Vizio Inc. agreed to a sale in July to the Chinese conglomerate.

I Spy a Turbo-Charged Advertising Campaign

Spots Highlight Mitsubishi Outlander Safety Features

Cypress-based Mitsubishi Motors North America Inc. launched several “I Spy” TV commercials that highlight safety features on its 2017 Mitsubishi Outlander.

Public Offering, Private Equity Touch Local Med Tech

IRhythm Offers Stock; TrakCel Gets Investment

An initial public offering for one company and a private equity investment in another highlight the depth of Orange County’s medical technology industry.

Pacific Premier’s New Place

Streak Reaches Years, Puts Bank Atop Midsize Category

Irvine-based Pacific Premier Bancorp Inc. continued its fast growth for a fifth consecutive year.

OCBJ Calendar

Oct. 31-Nov. 9, 2016

This week's business and other event listings.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 39, No. 44

Irvine City Council voted to seek bids for a water park that would be on city-owned land in Great Park, the Orange County Register reported.

PHILANTHROPY

Sept. 24 marked an evening of celebration as over 300 guests gathered at the Island Hotel in Newport Beach for the 22nd annual Laura’s House Gala.

Toba Puts $5 Million Into E-Sports Firm

Newport Beach-based Toba Capital invested in the booming e-sports segment, co-leading a $5 million funding round for a Santa Monica company that runs tournaments and related events for amateur gamers.

Franchisee Plans 10 Wienerschnitzels

Wienerschnitzel in Irvine said a current franchisee will add 10 locations in California and Texas.

Business Accelerator Adds Division

OCTANe in Aliso Viejo formed a Growth Services division to increase “resources, intelligence, capital and deal flow” for the group’s members, partners, investors, entrepreneurs and accelerator alumni.

Ricoh to Trim 147 Local Workers

Ricoh Electronics Inc. will eliminate more than a third of the employment base at its Tustin headquarters as part of a global restructuring of its manufacturing operations.

UCI Cybersecurity Director Named

TECHNOLOGY: Expert with federal creds leads new venture

National intelligence expert and corporate attorney Bryan Cunningham has been hired to lead the new Cybersecurity Policy and Research Institute at the University of California-Irvine.

Little Company Could Make Big Flight Milestone

AERONAUTICS: Tier 1 copter test proves long-elusive concept

A small engineering firm in Costa Mesa is a step closer to bringing the first battery-powered helicopter to market.

JetSuite to Add Scheduled Service at JWA

AVIATION: JetBlue buys into short-haul ambitions

JetSuite Inc. in Irvine plans to boost its John Wayne Airport traffic to about 100,000 passengers a year, a move backed in part by last week’s investment from JetBlue Airways Corp.

Ding King Lives Up to Title on Small Companies List

The fastest-growing public company in the small company category on this week’s Business Journal list doesn’t really live up to its name anymore.

Plenty to Credit on IPSF’s $780K Night

Credit FivePoint Holdings boss Emile Haddad for punctuating his generosity with a sense of humor during the Irvine Public Schools Foundation’s 7th Annual Spirit of Excellence Gala & Auction, where he announced that his company would extend its role as the event’s presenting sponsor for three years, added $100,000 to a kitty that came to $780,000 for the night—and then wondered aloud whether the city of Irvine was on the hook for another $200,000 because of a 2-1 match it offered for donations …

Escalating Expansion

Fastest-Growing Public Companies Combine to Hike Revenue 75% to $25 Billion

The 47 fastest-growing public companies in Orange County are growing faster.

J.C. Penney Lists Massive Buena Park Facility for Sale

REAL ESTATE: 1.1M-SF industrial site could move for $125 million

J.C. Penney Co. has put its massive logistics and distribution facility in Buena Park on the market and plans to relocate operations to a smaller site in the Inland Empire.

J.C. Penney Lists Massive Buena Park Facility for Sale

REAL ESTATE: 1.1M-SF industrial site could move for $125 million

J.C. Penney Co. has put its massive logistics and distribution facility in Buena Park on the market and plans to relocate operations to a smaller site in the Inland Empire.

Agency Gets Creative With Its Growth

ADVERTISING: Rauxa picks up accounts as it charts new paths

Ask the folks at Vans Inc. in Cypress about Rauxa, and they’ll likely say it’s a tech company developing their “Customs” website for shoppers to personalize the classic slip-on shoe.

NextVR Goes Beyond Tech to Tell Own Story

MARKETING: Next phase follows $80M round, deals with NBA, Fox

NextVR is done explaining the “how” of the broadcasting in virtual reality, and now is moving on to “why” it should be among consumers’ top sources for live entertainment, alongside ABC, CBS and other traditional media powerhouses.

From Fee Builder to Fastest Grower

Weyerhaeuser Buy Helps TRI Pointe to 660% Jump in Sales

You can add another first to the resume of TRI Pointe Group Inc., a homebuilder whose growth over the past seven years is among the most rapid of any Orange County company on record.

Friday, October 28

Schools Consultant, Ohio Firm Merge

Cooperative Strategies LLC in Irvine, an educational consulting firm, and DeJong-Richter LLC in Hilliard, Ohio, will combine to help plan finance schools nationwide under the Cooperative Strategies name.

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KPMG Names OC Managing Partner

Accounting firm KPMG named Mark Clemens managing partner for its Orange County office in Irvine.

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OC Bank Sells Division

Irvine-based Banc of California has sold a lending division and a collection of loans for a total of about $10 million.

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Midday Stock Roundup

The S&P 500 was down 0.4% in midday trading to 2,123.55.

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Hyundai, Kia Settle With States

Hyundai Motor Co. and Kia Motors Corp. will pay $41.2 million to 33 states and the District of Columbia to settle an investigation of the automakers’ “2012 restatement of fuel economy ratings and related advertising.”

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Balboa Capital Moves to Costa Mesa

Non-bank lender Balboa Capital plans to move its headquarters to Costa Mesa from Irvine.

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Opus Bank Names Board Member

Irvine-based Opus Bank appointed David King to the board of directors effective immediately.

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Thursday, October 27

Porsche Motorsport Decamps

Porsche Motorsport North America has left Santa Ana for Carson, a move first announced in 2012.

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OC Car Sales Up 1.1%

Sales of new vehicles at Orange County auto dealers for the first nine months of the year increased 1.1% to 147,360, according to the Orange County Automobile Dealers Association.

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$36M for Two Desert Hotels

An affiliate of local investor Mohammad Honarkar bought a Courtyard by Marriott and a Residence Inn Hotel in Palm Desert for $36 million.

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Midday Stock Roundup

The S&P 500 was down 0.1% in midday trading to 2,137.84.

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OCTANe Adds Growth Group

OCTANe in Aliso Viejo formed a division it dubbed ‘Growth Services,’ to increase “resources, intelligence, capital and deal flow,” for the group’s members, partners, investors, entrepreneurs and accelerator alumni, Chief Executive Bill Carpou said.

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Wednesday, October 26

Ricoh Cuts 147 Jobs

Ricoh Electronics Inc. will eliminate more than one-third of its employment base at its Tustin headquarters as part of a global restructuring of manufacturing operations.

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WD Tops Earnings Targets

Irvine-based storage products maker Western Digital Corp. reported revenue and adjusted profits in the September quarter that beat Wall Street expectations.

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Allergan’s Saunders Adds Chairman Role

Allergan Plc President and Chief Executive Brent Saunders is now also Chairman of the drug maker’s board of directors, replacing Paul Bisaro.

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Midday Stock Roundup

The S&P 500 was down 0.4% in midday trading to 2,135.49.

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Edwards Shares Fall on Sapien Sales

Shares of Edwards Lifesciences Corp. in Irvine fell 15% to about $96.50 a share and a $20 billion market cap on a lower-than-expected increase in its most recent quarter on international sales of its main product, the Sapien heart valves.

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Pacific Mercantile Reports Loss

Costa Mesa-based Pacific Mercantile Bancorp reported a net loss of $30.5 million for its third quarter.

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Confie Buys Three Brokerages

Huntington Beach-based Confie acquired on undisclosed terms a total of three brokerages in New York, New Jersey and Texas.

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Toba Co-Leads eSports Investment

Newport Beach-based Toba Capital invested in the booming eSports segment, co-leading a $5 million funding round for a Santa Monica company that runs tournaments and related events for amateur gamers.

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Tuesday, October 25

CSUF President Honored

California State University-Fullerton President Mildred García is among 25 top education leaders recognized this month as “Hispanic Leaders and Role Models in Higher Education” by Hispanic Outlook in Higher Education Magazine.

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Wienerschnitzel Franchisee Wants 10 More

Wienerschnitzel in Irvine said a current franchisee would add 10 locations in California and Texas.

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Volcom Down in Q3

Costa Mesa-based Volcom Inc. posted $76.5 million in revenue for the September quarter, a 13.6% decrease from the same period last year, according to Kering, its Paris-based parent.

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Midday Stock Roundup

The S&P 500 was down 0.2% in midday trading to 2,146.43.

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Vans’ Sales Up

Vans Inc. revenue was up 7% in the third quarter, leading the Greensboro, N.C.-based parent, VF Corp.’s outdoor and action sports group that includes the North Face and Timberland brands and had $2.3 billion in revenue for the period.

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JetSuite Gets JetBlue Investment

JetBlue Airways Corp. took a minority stake in JetSuite Inc. in Irvine.

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Monday, October 24

Midday Stock Roundup

The S&P 500 was up 0.4% in midday trading to 2,150.30.

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Software Maker Buys Colorado Firm

Irvine-based Flatirons Solutions acquired the assets of a Colorado company that specializes in flight operations software.

Financial Advisories Add 200 Local Reps, Up 12%

64% of Advisers at Top 5; 4 Firms Debut on List

The combined pool of registered investment advisers in Orange County grew about 12% to 1,905, and the 29 firms on the Business Journal’s list combined to employ overall staffs totaling 7,022, up 16.5%.

Real Estate Deals

Sales and leases of offices, industrial buildings, retail space and apartments

Santa Ana HM Property LLC sold a restaurant building in Santa Ana to 99 Motel LLC for $3.7 million, or about $1,584 per square foot.

Game Maker Plays Fast With Crowdfunder Campaign

InXile Entertainment Blows Past Raise Goal

Newport Beach-based video game maker inXile Entertainment knows how to run an online fundraising campaign.

New Standing for New Majority?; Will Daniele Dance?

History might someday deem last week’s debate-watching party hosted by the New Majority—with guest Newt Gingrich—at the Island Hotel just the sort of gathering that laid the groundwork for reshaping party politics in the U.S. …

Chapman, Blizzard in Talks for Spectrum Offices

Brandman Could Move to Mazda’s Old Digs

Chapman University is looking to relocate and expand the presence of its Brandman University affiliate in the Irvine Spectrum through two real estate transactions likely to top $60 million combined.

Foreign Capital’s 2-Year OC Real Estate Push Tops $2B

Industrial Buys Lead Way; China Goes Big on Hotels

Beijing-based Anbang Insurance Group Co.’s recent purchase of two of Orange County’s premier resort properties—Montage Laguna Beach and The Ritz-Carlton, Laguna Niguel—has pushed foreign capital’s investment in the local commercial real estate market past the $2 billion mark over the past two years, according to a new research report by brokerage JLL.

New Standing for New Majority?; Will Daniele Dance?

History might someday deem last week’s debate-watching party hosted by the New Majority—with guest Newt Gingrich—at the Island Hotel just the sort of gathering that laid the groundwork for reshaping party politics in the U.S. …

Kia Gets Clever

Automaker Plans ‘Full Blend’ for Marketing To Stand Out Among Bigger Rivals

Kia Motors America Inc. is preparing to tap into a “full blend” of marketing channels—including virtual reality—as it launches the Niro hybrid SUV and other vehicles scheduled to debut in the coming months.

OCBJ Calendar

Oct. 24-Nov. 2, 2016

This week's business and other event listings.

New Standing for New Majority?; Will Daniele Dance?

History might someday deem last week’s debate-watching party hosted by the New Majority—with guest Newt Gingrich—at the Island Hotel just the sort of gathering that laid the groundwork for reshaping party politics in the U.S. …

‘Gig Economy’ Fuels Startup’s IPO Plans

SERVICES: App offers way to match up for employers, part-timers

Irvine-based startup ShiftPixy plans to issue an initial public offering by the end of the year, with hopes of raising between $15 million and $50 million.

Shoemaker Inspires Longer Runs to Help Girls Group

ASICS to Donate Pair For Every ‘Extra Mile’ Logged

ASICS America Corp. in Irvine launched a marketing campaign that encourages athletes to add a mile to their workouts.

Auto Group Poised for Growth With Buys, Build

AUTOMOTIVE: Shelly beefs up luxe footprint with moves

Shelly Automotive Group is on the move in every sense of the word.

Three-Year Flight Plan for 2 Aerie Eye-Care Drugs

Main Products on Rolling Schedule for FDA Process

Aerie Pharmaceuticals Inc. in Irvine anticipates a one- to two-year schedule for both of its eye care drugs to move through the Food and Drug Administration process toward approval.

SCE Eyes South OC for Major Push on Battery Power

ENERGY: Push to outfit 3,000 homes would be biggest in U.S.

The largest foray into residential battery storage in the U.S. to date will happen in Orange County.

LBA Eyes Toshiba Campus on Heels Of Park Place Sale

REAL ESTATE: Allianz pays $390M; Spectrum spread could fetch $100M

LBA Realty, fresh off the highly profitable sale of a portion of its holdings in the Park Place mixed-use campus in Irvine, now has its eyes on another sizeable property in the city for a potential investment.

Car Dealers Opt to Mobilize for More Sales Leads

Aim to Harness Power Of Social Media Channels

An Irvine company has partnered with several auto dealerships in a bid to boost their ability to generate sales leads.

Fullerton Bullet Maker Sold

MANUFACTURING: Berger to Norwegian-Finnish buyer

Fullerton-based Berger Bullets has been sold on undisclosed terms to Nammo Group in Raufoss, Norway.

Q&A

A lot has been said about the U.S. Department of Labor’s new fiduciary rule and clients’ recent moves toward indexed investments and robo advisers. The new rule requires financial advisers to place clients’ interests before their own profits. It’s meant to protect investors from hidden fees and excessive payments that are poorly explained or concealed in fine print and that consequently lower returns on retirement savings. Many savers have started moving funds away from active investment advisers and toward computerized advisers and indexed funds because the latter methods are believed to provide comparable or better investment returns and to do better over time at a lower cost. The Business Journal’s Michael de los Reyes asked Orange County’s financial advisory firms for their insights on those issues. Here are the edited excerpts of firm leaders’ responses:

Orange County Makes Top 10 in U.S. Luxury Market

Notches $1.27M Average Sale Price in 1st 6 Months

Realtor.com released its annual Luxury Homes Index in September evaluating home transactions for the top 10% of the market in 277 U.S. counties and 63 metropolitan areas in the first six months of the year.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 39, No. 43

Chapman University got a $2.5 million gift from the Kay Family Foundation to fund faculty and student research, projects and other activities in data analytics, which is part of the growing field of “big data.”

New Shade of Grays: Emphasis on Proprietary Retail

APPAREL: Mother-daughter label now has four stores open

Kelly and Marie Gray are taking a breather after a whirlwind year that saw their Grayse LLC in Irvine realign its retail strategy to focus on a flock of fledgling brick-and-mortars.

National Honors for Downtown Santa Ana

The American Planning Association has named downtown Santa Ana as one of five “Great Neighborhoods” on its annual Great Places in America list.

Chapman Opens Health Research Center

Chapman University announced the opening of a research center focusing on biopsychosocial approaches to health.

Device Maker VertiFlex Gets $15.2M

San Clemente-based VertiFlex Inc. raised about $15.2 million from six investors. It makes minimally invasive devices to treat spinal disorders.

New Speedo USA President Named

Speedo USA in Cypress promoted John Graham to the role of president, replacing Jim Gerson, who left in May.

Friday, October 21

Bravo Sports Buys Again

Bravo Sports Corp. in Santa Fe Springs bought on undisclosed terms Nutcase Inc. in Portland, Ore., its third acquisition of a sports gear maker within the last 10 months.

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Unemployment Down at Summer’s End

Orange County’s unemployment rate fell to 4.1% in September.

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Midday Stock Roundup

The S&P 500 was down 0.2% to 2,137.29.

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BJ’s Restaurants Enters New Jersey

Huntington Beach-based BJ’s Restaurants Inc. opened its first store in New Jersey in the Teterboro area.

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OC Manufacturer Sold

Irvine-based Laguna Tools Inc. has been acquired on undisclosed terms by New York private-equity firm Hudson Ferry Capital LLC.

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Thursday, October 20

NBA Games to Air in VR

Laguna Beach-based virtual reality content maker NextVR Inc. has struck a multi-year deal with NBA Digital in New York to live-stream National Basketball Association games in virtual reality during the upcoming season.

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Kay Family Gives $2.5M to Chapman

Chapman University received a $2.5 million gift from the Kay Family Foundation to fund faculty and student research, projects and other activities in the field of data analytics, which is part of the growing field of “big data.”

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Midday Stock Roundup

The S&P 500 was flat 2,144.26.

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Wednesday, October 19

National Honors for DT Santa Ana

The American Planning Association has named downtown Santa Ana as one of five “Great Neighborhoods” on its annual Great Places in America list.

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Holiday Pop-Ups for Wet Seal

Wet Seal LLC in Irvine plans to open 13 temporary stores during the upcoming holiday season.

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New Research Center for Chapman

Chapman University announced today the opening of a new research center focusing on biopsychosocial approaches to health, called the Crean College of Health and Behavioral Sciences Center of Excellence in Biopsychosocial Approaches to Health.

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Software Maker Buys Colorado Firm

Flatirons Solutions in Irvine acquired the assets of a Colorado company that specializes in flight operations software.

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New Boss for Speedo USA

Speedo USA in Cypress promoted John Graham to role of president.

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Smithsonian Award for Gross

Bill Gross, “The Bond King,” may soon lay claim to being among “the greatest stamp collectors of all time.”

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Midday Stock Roundup

Markets were up overall on news that many oil producing countries are willing to sign on to OPEC output cuts.

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Tuesday, October 18

Midday Stock Roundup

The S&P 500 was up 0.7 % to 2,142.00.

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Interim Venue to Replace Irvine Meadows

Five Point Communities Management Inc. in Aliso Viejo said part of its property bordering Orange County Great Park would be available for the operation of an “interim amphitheater,” pending approval by the city of Irvine.

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Toastmasters Moving to Denver

Rancho Santa Margarita-based Toastmasters International is moving its headquarters to Denver, Colo., in two years.

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Monday, October 17

New Editor-in-Chief for Entrepreneur

Entrepreneur Media Inc. in Irvine promoted Entrepreneur magazine's executive editor Jason Feifer to editor-in chief.

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Cianna Medical Raises $4 Million

Aliso Viejo-based Cianna Medical Inc. has raised about $4.2 million in venture capital funding from 12 investors.

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Emmis Effort to Go Private Failed

An effort by the chief executive of Emmis Communications Corp. to take the company private has failed.

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Midday Stock Roundup - mis

The S&P 500 was down 0.3 % to 2,125.67.

Midday Stock Roundup

The S&P 500 was down 0.3 % to 2,125.67.

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Midday Stock Roundup-take

The S&P 500 was down 0.3 % to 2,125.67.

Great Park Sports Park Readying for Users, Revenue

53-Acre First Phase to Be Completed by Year-End

The first phase of Great Park Sports Park already appears to be paying dividends, in revenue earmarked for the city of Irvine next year.

OCBJ Calendar

Oct. 17-26, 2016

This week's business and other event listings.

Campaign Aims to Boost Pursuit of People’s Passions

Boost Mobile Says It’s There ‘Where You At’

Boost Mobile in Irvine launched a “We Are Where You At” marketing campaign that “celebrates consumers pursuing their passions.”

Aerospace & Defense Contractors Lose Altitude on Jobs

Slight Decline 2nd in Row For Biggest With Operations Here

Orange County’s largest aerospace and defense contractors posted a modest drop in local employment in the past year.

Allergan Executes on Aesthetics Medicine for Men

Pursues Piece of $1.4B Market, Plans Expansion

Allergan Plc in Irvine has moved forward this year on a strategy that targets men for aesthetics medicine work.

Permanent Hospital Head Appointed

Placentia-Linda Hospital named Christina Oh chief executive to succeed Interim Chief Executive Chuck Orlando, who took the position in May after former Chief Executive Audrey Gregory left the hospital.

Firm Says Its Software Can Improve Brain Function

Modern AlkaMe Tracks Effects of Supplements

A software company that says it has devised a way to measure the efficacy of supplements for brain function has released an introductory version of its product called the Nootropic Research Kit.

Medical Device Maker Raises $5 Million

Harbor MedTech Inc. in Irvine raised $5 million in equity funding from three investors as part of an unfinished $8.5 million effort, a regulatory filing said.

Hard (Liquor) Times in Santa Ana

Couple Gets Over Learning Curve, Red Tape to Open OC’s 1st Distillery

Being the first at anything comes with inherent challenges. Opening the first distillery in Orange County proved even more challenging than entrepreneurs Robin and Brian Christenson imagined.

Harbor Associates Ramps Up OC Acquisition Push

REAL ESTATE: Pays over $30M for offices in Tustin

A startup investment and development group based in Long Beach that focuses on creative-office conversion projects has made its largest investment yet in Orange County, for a three-building property in Tustin.

Events Producer Buys Florida Expo

San Juan Capistrano-based Emerald Expositions LLC acquired Digital Dealer Conference & Expo from Dealer Communications in Boca Raton, Fla., on undisclosed terms.

Anaheim Concourse Buildings Sell For $188M

CalPERS-Backed Investor Pays Record Per Square Foot

Real estate investment adviser Bentall Kennedy has made one of the largest industrial acquisitions ever in Orange County, buying close to a million square feet of recently built space in Anaheim.

Greenwave Hires Goldman Sachs, Eyes Possible IPO

TECHNOLOGY: Optimistic on heels of strategic buy

Irvine-based smart technology provider Greenwave Systems Inc. is exploring an initial public offering.

Anaheim Concourse Buildings Sell For $188M

CalPERS-Backed Investor Pays Record Per Square Foot

Real estate investment adviser Bentall Kennedy has made one of the largest industrial acquisitions ever in Orange County, buying close to a million square feet of recently built space in Anaheim.

PHILANTHROPY

More than 350 Orange County people gathered on Sept. 24 for Discovery Cube’s Wild West at the Cube annual gala, which raised more than $1.1 million for science education.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 39, No. 42

Newport City Council voted to sell the 1920s-era Balboa Theater to Costa Mesa-based Lab Holding LLC, developer of The Camp and The Lab “antimalls,” the Daily Pilot reported.

World Affairs Council Presents Saudi Prince; Santa Ana’s Ink Well

Keen sense of timing at the World Affairs Council of Orange County, which will offer a reminder that life goes on around the globe, even during the compelling-like-a-train-wreck U.S. presidential election.

Real Estate Deals

Sales and leases of offices, industrial buildings, retail space and apartments

VR Irvine Pad LLC sold a retail property in Irvine to Wesco Properties Inc. for $13.7 million, or about $1,088 per square foot.

OC Tech Alliance Award Winners Run the Gamut

Skyworks, Mavenlink Among Top Honorees

Woburn, Mass.-based chipmaker Skyworks Solutions Inc., which has an executive base in Irvine, and Irvine-based business software maker Mavenlink Inc. were among the big winners at the 23rd Annual OC Tech Alliance Award Gala at Westin South Coast Plaza.

El Pollo Loco Taps San Diego Ad Shop

MARKETING: New campaign to aim for ‘Main Street foodies’

El Pollo Loco in Costa Mesa hired Vitro as its creative agency of record following a competitive review.

Optimism Shines Through for Q4

ECONOMY: General outlook up despite caution on sales, profits

Orange County’s business owners and executives have become more optimistic going into the final quarter of the year, according to California State University-Fullerton’s Orange County Business Expectations Survey.

Sports Marketer Lands Basketball Event

Sports Anaheim will own and operate a CCA Division II college basketball tournament with both men’s and women’s teams to be held annually in Orange County.

Advantage Solutions Aims to Take Data Marketing Up a Notch

MARKTING: New media unit to devise real-time pitches to shoppers

Irvine-based Advantage Solutions has launched a business unit that relies on data collected monthly from some 150 million mobile devices to advertise to specific customers when they’re most likely to make a purchase.

Friday, October 14

Cianna Medical Raises $4 Million

Aliso Viejo-based Cianna Medical Inc. has raised about $4.2 million in venture capital funding from 12 investors.

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New Editor-in-Chief for Entrepreneur

Entrepreneur Media Inc. in Irvine promoted Entrepreneur magazine's executive editor Jason Feifer to editor-in chief.

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Midday Stock Roundup

The S&P 500 was up 0.3 % to 2,139.67.

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San Clemente Firm Raises $15 million

San Clemente-based VertiFlex Inc. has raised about $15.2 million from six investors.

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Thursday, October 13

Midday Stock Report

The S&P 500 was down 0.4 % to 2,131.90.

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Wednesday, October 12

Health Data Firm Adds $1.8M

Pinscriptive in San Juan Capistrano a software analytics company focused on specialty drugs announced today that it’s closed $1.78 million in seed funding since it started in March 2015, with $500,000 of that amount received in August.

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Midday Stock Report

The S&P 500 was up 0.3 % to 2,141.99.

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Tuesday, October 11

OC Company Buys Las Vegas Expo

San Juan Capistrano-based Emerald Expositions LLC acquired Digital Dealer Conference & Expo from Dealer Communications in Boca Raton, Fla. on undisclosed terms.

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Midday Stock Roundup

The S&P 500 was down 1.4% to 2,134.82.

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First American Buys TD Service Financial

Santa Ana-based title insurance firm First American Financial Corp. has bought TD Service Financial Corp. of Orange on undisclosed terms.

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Visit Anaheim to Run B-Ball Event

Sports Anaheim will own and operate a CCA Division II college basketball tournament with both men's and women's competitions to be held in Orange County annually.

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Monday, October 10

Placentia-Linda Hospital Names CEO

Placentia-Linda Hospital named Christina Oh chief executive to succeed outgoing Interim Chief Executive Chuck Orlando.

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LCAD Sets New Writing Programs

Laguna College of Art and Design said it would start two degree programs in creative writing: a Bachelor of Fine Arts in fall 2017 and a low-residency Master of Fine Arts, in summer 2017.

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Wound Device Maker gets $5M

Harbor MedTech Inc. in Irvine raised $5 million in equity funding from three investors as part of an unfinished $8.5 million effort, a regulatory filing said.

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Midday Stock Roundup

The S&P 500 was up 0.5% in midday trading to 2,164.77.

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ADDENDUM

Other items of interest Orange County Business Journal Vol. 39, No. 41

The Orange Coast College Foundation received $240,000 from PIMCO co-founder Bill Gross and his wife, Sue, to establish a “Sue and Bill Gross Scholars” program, which will support students pursuing vocational and technical education (see related item under Finance).

Molina Mulls Medicare, Medi-Cal Moves in OC

Covered California Insurer Could Add to OC Offerings

We reported on Sept. 12 that Molina Healthcare Inc. will add OC to its Covered California service area next year.

You’ve Got a Friend in Birds of a Feather App

Company Founder Saw Chance to Connect People

A Newport Beach-based startup recently launched an app called Birds of a Feather that enables people to find others with similar interests to join in activities.

Campaign Promotes BJ’s Chain as Chock Full of Value

Ads By New Agency Let the Good Times Roll

BJ’s Restaurants Inc.’s new “Moments That Count” marketing campaign was developed by its new advertising agency of record, DDB San Francisco, and features ads that emphasize the importance of consumers’ time off and that BJ’s is just the right place to enjoy it.

Standout Properties Top Today’s SoCal Listings

Rundown of the Biggest Price Tags by County

Exclusive enclaves up and down the Southern California coast boast extraordinary estates that are awe-inspiring, and their prices can be equally so.

Skyworks Continues to Beef Up With Local Hire

CFO Second Recent Big Addition at Chipmaker

Another local addition to the executive brass of Skyworks Solutions Inc. points to Orange County’s growing influence at the Woburn, Mass.-based chipmaker.

Real Estate Deals

Sales and leases of offices, industrial buildings, retail space and apartments

Sean Nguyen DDS signed a 10-year lease at 23642 Rockfield Blvd., Ste. 504, in Lake Forest for $1.1 million.

Deloitte Renews Lease at Park Tower in Costa Mesa

OC’s Largest Accountancy Takes Smaller Space

Deloitte LLP, the largest accounting firm in Orange County by employee count, has re-upped the lease on its local offices in Costa Mesa.

OCBJ Calendar

Oct. 10-19, 2016

This week's business and other event listings.

DeCero Named CEO of Mechanics Bank

Former president of California Republic Bank John DeCero was named chief executive of Mechanics Bank in Walnut Creek, Calif., to succeed Ken Russell, who will continue to serve as a director on Mechanics Bank’s board.

ICU to Pay $1 Billion for Pfizer Unit

ICU Medical Inc. in San Clemente said it would buy New York-based Pfizer Inc.’s infusion therapy division in a cash-and-stock deal valued at $1 billion.

Manulife Adds Irvine Office to Airport-Area Holdings

17911 Von Karman Likely Sells for $33M+

Financial services company Manulife Financial Corp. has added another office to its real estate investment portfolio near John Wayne Airport.

Smith’s Toba Backs SF Software Firm

Newport Beach-based Toba Capital took a lead role in a $10 million initial funding round for San Francisco-based human resources software specialist Restless Bandit.

First Foundation Buys Two Branches

Irvine-based First Foundation Inc. agreed to acquire a Pacific Western Bank branch in Laguna Hills and one in Seal Beach.

Masimo CEO Co-Leads $24M Investment

Masimo Corp. Chief Executive Joe Kiani co-led a $24 million equity investment in Stereotaxis Inc. that could be worth as much as $50 million.

El Pollo to Expand Outside Southwest

El Pollo Loco Holdings Inc. in Costa Mesa signed a franchise development deal with Listo Way Group LLC to enter the Louisiana market with the chain’s first restaurants outside the Southwest region.

YL Device Facility In $500M Sale

A former CareFusion Corp. facility in Yorba Linda that makes medical devices for respiratory care has seen another change in its ownership structure.

Irvine-Based Avocado Board Eyes China’s Potential

MARKETING: Talks set for Chicago later this month

The Chinese language has several names for avocado—“è lí,” which literally translates to “crocodile pear”; “niú yóu guǒ,” the “butter fruit”; and “lào lí,” the “cream pear.”

San Jose Investor Buys Surf City Rentals for $60M

REAL ESTATE: Complex 2nd recent deal for Saratoga

An apartment investor in Silicon Valley has snapped up a big rental complex in Huntington Beach, extending its acquisition push in Orange County since the start of the summer past the $130 million mark.

Talent Tells Tale of New Era in OC

It can be hard to recognize an era while it’s happening.

More OC Schools Write a New Program Prescription

3rd Campus Seeks Pharm Studies, Others Grow Theirs

Pharmacy schools in Orange County are growing their programs as a new player prepares to enter the field.

Ophthalmology Program Leverages VR for Training

Headsets Allow Students To Simulate Eye Exams

Students in a lab on the campus of Marshall B. Ketchum University in Fullerton wear virtual reality headsets to examine a retina. The optometry students are practicing how to perform an eye exam on virtual patients.

Chapman Digs Deeper Into Research With New VP

Engineer By Training Plans Multipronged Approach

Chapman University has recently redoubled its research pursuits, bringing on Thomas Piechota as first vice president of research.

Boost Aims to Do Good, Well at Polls

MARKETING: Sees chance to bolster brand, spur civic engagement

An Irvine-based unit of Sprint Corp. hopes to transform retail stores across the nation into polling places on Election Day in an effort to turn out the vote in underserved, urban communities.

Software Maker Sees Bigger Future in New HQ

TECHNOLOGY: SecureAuth about doubles digs for hires to meet demand

Security software maker SecureAuth Corp. has leased new headquarters at Irvine Spectrum to accommodate a hiring surge as it expands its services.

Zillow Sells Software Unit Amid Expansion in Irvine

MARKETING: Seattle brand’s local office up to 250 OC workers

A software firm that served as the springboard for Zillow Group Inc. to establish a major presence in Irvine has been sold—but don’t expect the online real estate marketer to close up shop in OC.

A Leg Up the Ladder

Real Estate Developer Helps Budding Businesspeople

Leslie Burris is like a hummingbird in search of nectar at Blaze Pizza in San Clemente. The franchise owner is multitasking: greeting customers, making pizzas and overseeing employees. A few minutes later, she’s outside on the patio training a handful of new recruits.

Tall Reputation, Top Rents at 200 Spectrum

Houston-Based Crown Castle Takes 2 Floors

Wireless infrastructure firm Crown Castle International Corp. is the latest big lessee signed for the 200 Spectrum Center tower in Irvine, where top floors appear to now boast the highest rents of any space in the city.

OC MBA Enrollment Up 25%, Number of Grads Down

Online Schools Lead List Of 41 SoCal Programs

Numbers are up in the Business Journal’s annual survey of MBA programs in Orange County. The Business Journal publishes an unranked list of 41 MBA programs throughout Southern California (see related graphic, page 25).

Friday, October 7

Wound Device Maker gets $5M

Harbor MedTech Inc. in Irvine raised $5 million in equity funding from three investors as part of an unfinished $8.5 million effort, a regulatory filing said.

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Midday Stock Roundup

The S&P 500 was down 0.2% in midday trading to 2,155.23.

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Shopoff Realty Buys in Las Vegas, Chicago Top $100M

Shopoff Realty Investments in Irvine has paid in excess of $100 million for an apartment complex in Las Vegas and a pair of commercial buildings in Chicago.

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Bascom Sells Denver Apts for $350M

Bascom Group LLC in Irvine has sold one of its larger apartment properties, a 1,523-unit complex in Denver, in what local reports said is the priciest deal for a rental property in that city.

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Platinum Triangle Developer in $255M JV with China Fund

The Texas developer planning to build one of the larger apartment complexes in Anaheim’s Platinum Triangle has entered into a $255 million venture with a private equity fund from China to finance the project.

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Thursday, October 6

UEI to Sell Gemstar for $48M

A Hong Kong subsidiary of Santa Ana-based Universal Electronics Inc. has agreed to sell Gemstar Technology Co. Ltd. for about $48 million in cash.

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Midday Stock Roundup

The S&P 500 was up 0.1% in midday trading to 2,161.67.

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ICU $1B Buy Creates ‘Pure Play’

ICU Medical Inc. in San Clemente said it would buy New York-based Pfizer Inc.’s infusion therapy division in a cash-and-stock deal valued at $1 billion.

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Movie Equipment Maker Buys Rival

Costa Mesa-based QSC LLS has acquired on undisclosed terms Ultra-Stereo Labs Inc. in San Luis Obispo.

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Wednesday, October 5

Chapman Receives Provisional Physician Assistant Accreditation

Chapman University’s Physician Assistant program has received accreditation provisional status.

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JetSuite to Fly From Carlsbad

JetSuite in Irvine plans to offer flights from Carlsbad to San Jose beginning Oct. 17, a news report said.

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Toba Backs SF Software Firm

Newport Beach-based Toba Capital took a main role in a $10 million initial funding round for a San Francisco company called Restless Bandit, a specialist in human resources software.

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Ranking Shows Automakers’ Climb

The brand value of Kia Motors Corp. and Hyundai Motor Co. is up this year, according to Interbrand’s 17th annual Best Global Brands report

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Consultancy Names Interim CEO

Irvine-based Resources Connection, Inc. named Kate Duchene interim chief executive after the unexpected retirement of Tony Cherbak due to health issues.

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OC’s Wealthiest Make Forbes 400

Eight members of the Business Journal’s annual OC’s Wealthiest list made this year’s Forbes 400 list, which ranks the wealthiest Americans by estimated net worth.

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Windjammer Buys SA Manufacturer

Newport Beach-based Windjammer Capital Investors acquired on undisclosed terms Mission Critical Electronics Inc. in Santa Ana.

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Irvine Lender’s First Marketing Head

Quick Bridge Funding in Irvine named Lisa Reickerd its first marketing director.

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Midday Stock Roundup

The S&P 500 was up 0.5% in midday trading to 2,161.76.

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Tuesday, October 4

FAO Schwartz Brand to Irvine Outfit

Irvine-based ThreeSixty Group Inc. acquired the FAO Schwarz brand from Toys ‘R’ Us Inc. in Wayne, N.J on undisclosed terms.

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CSUF Receives STEM Grant

California State University-Fullerton received a $5.8 million grant from the U.S. Department of Education for a five-year project in partnership with eight community colleges to increase the number of Hispanic and low-income transfer students who complete bachelor’s degrees in science, technology, engineering and mathematics and get jobs in these fields.

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REIT in $25M Buildings Buy

Griffin-American Healthcare REIT IV Inc. in Irvine bought two medical office buildings, one each in Michigan and Alabama, for a combined $25 million.

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Grosses Give OCC $240K for Training

The Orange Coast College Foundation received $240,000 from PIMCO cofounder Bill Gross and his wife, Sue, to establish a “Sue and Bill Gross Scholars” program, which will support students pursuing vocational and technical education.

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DeCero to Head Merged Bank

Former President of California Republic Bank John DeCero was named the new chief executive of Mechanics Bank in Walnut Creek, Calif.

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Midday Stock Roundup

The S&P 500 was down 0.7% in midday trading to 2,146.53.

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Monday, October 3

First Foundation Buys Branches

Irvine-based First Foundation Inc. has agreed to acquire two Pacific Western Bank branches, located in Laguna Hills and Seal Beach.

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Hyundai Up, Other Carmakers Lag

Three out of the four Orange County-based automakers fell behind the national sales pace on new-vehicle sales in September, according to New Jersey-based market researcher Autodata Corp.

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Alliant Acquires in Portland

Newport Beach-based Alliant Insurance Services acquired on undisclosed terms the Hecht Group in Portland, Ore.

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AlliedUniversal Adds N.Y. Firm

Santa Ana-based Allied Universal has acquired on undisclosed terms FJC Security Services in Floral Park, N.Y.

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El Pollo Loco Enters Louisiana

El Pollo Loco Holdings Inc. in Costa Mesa has signed a franchise development deal with Listo Way Group LLC to enter the Louisiana market.

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Nutrients Maker to Chicago PE Firm

Orange-based Merical Inc. has been acquired on undisclosed terms by private-equity firm Linden Capital Partners LLC in Chicago.

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Janus in Deal With London Firm

It looks as though Orange County’s “Bond King” will have a new employer.

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Midday Stock Roundup

The S&P 500 was down 0.4% in midday trading to 2,158.87.

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Kiani Co-Leads $24M Investment

Masimo Corp. Chief Executive Joe Kiani co-led a $24 million equity investment in Stereotaxis Inc. that could be worth as much as $50 million.

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Avocado, Heart-Health Group in Pact

The Hass Avocado Board in Mission Viejo formed a four-year partnership with the American Heart Association “to galvanize Americans to eat the recommended amounts of fruits and vegetables every day.”

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Irvine Company An Energy Champion

The California Energy Efficiency Industry Council named Newport Beach-based Irvine Company one of three Energy Champions for 2016.

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JWA Cuts Allocation for Southwest Airlines in ’17

TOURISM: County supervisors to vote Oct. 11 on capacity remix

John Wayne Airport will cut the number of seats Southwest Airlines Co. can fill with fliers next year by nearly 1 million and maintain or increase totals for other major air carriers, the airport’s annual allocation plan shows.

Northgate González Aims for Latino Generation Next

RETAIL: ‘Grab-and-go’ part of grocer’s prototype in La Habra

Plans for Northgate González LLC’s upcoming store in La Habra call for a 4,000-square-foot “restaurant within the market” that will include a “coffee and juice bar, a deli, a hot foods section, and indoor and outdoor seating areas” for 33, according to documents filed with the city’s planning commission.

Packaging Outfit In San Clemente Sold

San Clemente-based Pacific Packaging Machinery Inc. has been acquired on undisclosed terms by Pro Mach Inc. in Covington, Ky.

To Move the Needle

Allergan Exec Guides Study of New Botox Uses

A slide in an electronic presentation Dr. Mitchell Brin gives when he talks about Botox reads “topical toxin.”

Cylance of the Worms

Founder Discovered Calling Through Bet After Cyberattack at Alma Mater

A friendly hacking wager in college ultimately led Stuart McClure into cybersecurity.

Sequence of Fortunate Events

Chief of Genetic Tester Rose With New Sector

Ambry Genetics Corp. in Aliso Viejo doesn’t say how many genetic tests it does annually, though if you count back to its 1999 founding, it recently passed the 1 million mark in total tests.

Super Charged

Phone Battery Entrepreneur Might Have Game Changer on His Hands

Benjamin Park understands his customers, a likely consequence of using several different smartphones throughout the day.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 39, No. 40

This year’s Orange County International Auto Show will occupy 25% more space at the Anaheim Convention Center for its Oct. 6-9 run to accommodate about 50 work trucks and vans in the inaugural So Cal Work Truck & Van Show.

PHILANTHROPY

First Foundation, Brookfield Residential, Kia Motors, Avalon Bay Communities, Southern California Gas, Ernst & Young and several other Orange County businesses joined together to sponsor Families Forward’s 32nd annual gala, An Evening of Hope.

Chefs Hopscotch Around OC, Keeping Eats Fresh

Roger’s Gardens Cafe Opens to Crowds

The chef shuffle has been quite the popular dance lately.

Vans Goes Indie in Ad Campaign Shot on iPhones

Solicits Photogs’ Work For Worldwide Marketing Push

Vans Inc.’s newest global marketing campaign was shot exclusively on the iPhone 6s Plus.

OCBJ Calendar

Oct. 3-12, 2016

This week's business and other event listings.

Software Maker Joins Data-Breach Resistance Group

Group Intends to Cut Off Cyber Attackers at the Pass

Irvine-based security software maker SecureAuth Corp. is taking a lead role in establishing a consortium of private and public entities to solve the growing problem of data breaches.

Hines Adds Land to Raytheon Campus Holdings

Follows 2012 Deal for 2 Offices at Fullerton Site

The local division of Houston-based Hines Interest LP has bought the ground under one of its larger Orange County office properties.

Real Estate Deals

Sales and leases of offices, industrial buildings, retail space and apartments

The Rulloda Living Trust sold a medical building in Anaheim to Sandra Parker for $1.1 million, or about $253 per square foot.

J&J Sees AMO As Fine Fit at $4.3 Billion

HEALTHCARE: Global push, new name coming to Santa Ana

The sale of Abbott Medical Optics puts the Santa Ana-based device maker under the umbrella of a new parent with a complementary line of eye care offerings.

Prep for Healthcare’s Future

Providence St. Joe Strategist Had the Instinct

Annette Walker loves “architecting the future of an organization … figuring out how to make sure it’s here 100 years from now and how it anticipates the challenges.”

Auto Parts Supplier Diversifies Into Mobile Services

Bosch App Gets Busy Owners’ Cars to the Shop

An established supplier of automotive parts has launched a startup to help those on the go with car repairs.

Masimo Pursues Cancer Detection Research, Prototype

Kiani Says Marketable Product 3-5 Years Away

Masimo Corp. in Irvine has begun work on “a prototype that can be manufactured and sold” to detect and help destroy cancer cells using nanoparticles, lasers and gold, said Chief Executive Joe Kiani.

Curious Commodity Case Crops Up in Irvine

REAL ESTATE: Building on Main in ‘brazen scheme’ on aluminum?

An unassuming industrial building in the heart of the Irvine Business Complex appears to be playing a part in an international trade caper that purportedly stretches from China to New Jersey to a desert in Mexico.

Insurance Brokers Grow Revenue 7% to $624 Million

Biggest Rise Fastest, Account 75% of Total

Orange County’s insurance brokerages grew for a sixth straight year to combine for about a 7% increase in local revenue to $623.6 million in 2015.

The Dirt at One Broadway

Harrah Mum on Tenants, Puts 28-Month Timeline on 37-Story Tower

One Broadway Plaza, the long proposed 37-story Santa Ana office tower that would be Orange County’s tallest building, is slated to approach nearly 500 feet when it’s built.

Auto Parts Supplier Diversifies Into Mobile Services

Bosch App Gets Busy Owners’ Cars to the Shop

An established supplier of automotive parts has launched a startup to help those on the go with car repairs.

Q & A

Orange County’s insurance brokers work in a dynamic market filled with startups, technology firms, plenty of new construction and new competitors. The Business Journal’s Michael de los Reyes asked local brokerage executives to share their thoughts about growth opportunities in the coming year, and they talked about benefits programs, the emerging risks of cybersecurity, and the continued need for support staff to provide high-level service to customers. Here are edited excerpts of their responses:

Presidential Presence for Big Canyon?; Ueberroth on Arnie

New Chapman U President Daniele Struppa is a soccer guy, a preference that tracks back to his native Italy.