Stories for June 2018

Friday, June 29

Not From the Government, Here to Help You

You’ve likely seen or heard their ads. Santa Ana’s Optima Tax Relief is a leading company in the business of settling debts with the IRS. They practice what they promote too -- $100M annual sales, zero debt.

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Mitsubishi Names CIO, VP

Cypress-based automaker Mitsubishi Motors North America Inc. promoted Natalie Milton to vice president and chief information officer.

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Midday Stock Roundup

The S&P 500 was up 0.8% in midday trading to 2,738.46.

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Thursday, June 28

Donor Name Removed from UCI Sciences Building

The University of California-Irvine will remove donor and Professor Francisco Ayala’s name from its biology school and rename the it the UCI School of Biological Sciences.

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R&B Wire Finds Rhythm in Laundry Carts

Family Business Doubles Factory Size

A laundry cart by R&B Wire Products Inc. has a touch of Hollywood. “We’ve been making this product for so long that it’s become synonymous with our company,” said owner and Chief Executive Rick Rawlins. “It’s not just called a laundry cart. It’s called an R&B cart. It’s like Kleenex is called tissue.”

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OC 500: Dessi Sarabosing

CFO of the year honoree … was with Real Mex Restaurants Inc. as SVP, finance, accounting at the time … worked there after chain’s BK … success is about ‘being brave, accepting risk’ … CFOs ‘strategists’ … joined Mobilitie, a wireless tower, base operator, in April … worked in father’s restaurant in Bulgaria as teen … later stint at Taco Bell … USC MBA

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Banc of California to Cut Workforce 9%

Santa Ana’s Banc of California Inc., Orange County’s largest bank by assets, plans to cut its workforce by 9% to align its cost structure to focus on commercial banking.

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Midday Stock Roundup

The S&P 500 was up 0.4% in midday trading to 2,711.53.

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Windjammer Buys Ohio Manufacturer

Windjammer Capital Investors of Newport Beach bought Rowmark LLC, a Findlay, Ohio-based manufacturer in the engraving, signage and awards markets, from Bertram Capital.

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Six OC RIAs on FT’s Top 300 List

Six registered investment advisory firms based in Orange County made the Financial Times’ annual list of the “top” 300 RIAs in the United States.

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OC 500: Matthew Zaist

Western U.S.-focused builder … headed 2011 recapitalization out of BK, 2013 IPO … market cap $725M … helped expand into Colo., Ore., Wash.; grew builder’s work for buyers age 55+ … 2017 land buy in Cypress for first such OC project … with company since 2000 … assumed chief exec role 2016 from William H. Lyon … executive committee member, USC Lusk Center for Real Estate

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Anaheim Could Get 65K With DesignerCon

TOURISM: Toy story’s ending not yet written

Ben Goretsky booked 140,000 square feet at Anaheim Convention Center for his DesignerCon, a November showcase of art, design and products for toy and collectibles aficionados that had been at Pasadena Convention Center since its inception 13 years ago.

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Wednesday, June 27

UST Attracts $250M Investment

Aliso Viejo-based IT services provider UST Global has received a $250 million investment from Temasek Holdings Pte. Ltd., Singapore’s state-run investment fund, the company announced today.

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Samueli Academy Gets $900K

The Santa Ana-based Orangewood Foundation won a $900,000 grant from the Federal Home Loan Bank of San Francisco’s Affordable Housing Program that will help fund the nonprofit’s Samueli Academy expansion.

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Midday Stock Roundup

The S&P 500 was down 0.3% in midday trading to 2,715.39.

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McQuaid to Retire From OneOC

Daniel McQuaid will step down as president and chief executive of OneOC at the end of the year. The nonprofit’s board named Tim Strauch, vice president and chief operating officer, to replace him, effective Jan. 1.

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Tuesday, June 26

Moshayedi Embarks On New Real Estate Ride

REAL ESTATE: Entrepreneur, Gallagher searching for buys

Mark Moshayedi, one of Orange County’s best-known tech entrepreneurs, coastal property owners, and classic-car collectors, has a new commercial real estate venture.

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OC 500: Andrew Peykoff

U.S. private-label bottled water supplier … founded 1963 by chair, Andrew Peykoff Sr., as home, office deliverer … now Niagarabranded water, sparkling water; sports drink GamePlan; Vitamin-enhanced water Vssentials … in-house scholarship program, community grants; external work with Red Cross, FEMA … Ontario HQ … plans $76M, 450K SF manufacturing, bottling plant, Mesa, Ariz

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Midday Stock Roundup

The S&P 500 was up 0.4% in midday trading to 2,728.04.

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Broughton to Run Hotels for U.K. Partner

Anaheim-based Broughton Hospitality Group’s hotel management division will “develop, acquire, and manage” properties in North America with Warrington, U.K.-based Bespoke Hotels, a press release said.

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Monday, June 25

Fun Ride Accelerates

Growing Firm Supplies Autos Memory Lane

Shortly after moving to California in the mid-1970s, Detroit native Jeff Leonard scooped up a marine blue 1967 Chevrolet Camaro with an 8-track player in the center console.

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OC 500: Melissa Beck

Women in Business honoree … believes ‘mentoring is intrinsic to success in life, no matter your background’ … took reins July 2013 … revenue to $6M+ from $2.5M; children helped up 87% to 3,750, three-fourths OC … backed by Ueberroth Family, Tarsadia foundations … backs CSUF ... hero: Maria Montessori … UCI Executive MBA

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DealerSocket Appoints CRO

Automotive software provider DealerSocket named Bryan Klann chief revenue officer on Monday.

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Manhattan Beachwear Adds BCBG

Cypress-based swimwear manufacturer Manhattan Beachwear Inc. said Monday it will design and distribute women’s swimwear for Vernon-based fashion label BCBGMaxAzria and its BCBGeneration line.

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Midday Stock Roundup

Indexes fell in midday trading on fears of an escalating trade war with China.

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Chapman Says OC Jobs To Grow Faster Than US

Says Construction Is Driver

Jobs in Orange County, led by the construction industry, are projected to grow at a “significantly higher” rate than nationwide, according to Chapman University’s latest semiannual economic forecast.

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Hotel Owner Starts ‘Holistic’ Brand

Private equity firm Alpha Wave Investors in San Clemente has formed Soul Community Planet to provide branding for hotels and other projects, with an initial investment of about $1 million, according to Chief Executive Ken Cruse.

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OC 500: Parke Miller

Local man for Texas developer … under way in Tustin with Flight, OC’s first ground-up creative-office development … July groundbreaking, eight buildings, food hall … first phase will total 523K SF … 18 buildings, at completion … built Trade, Irvine open-air food hall … has looked at shopping-anchored retail in Los Alamitos

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American Vanguard Gets Global Herbicide

An American Vanguard Corp. subsidiary acquired the Bromacil herbicide business of Bayer Crop Science in the U.S. and Canada. It bought the rights outside of these markets from DuPont Crop Protection in 2015.

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OCBJ Calendar

June 25-July 4, 2018

This week's business and other event listings.

Soft Health Says Time to Say Goodbye to Bulky Pads

Female Incontinence Product Maker Seeks $3M

Incontinzence, or bladder leakage, is embarrassing, but not uncommon.

Margarita Gum Anyone?

Measured Failure Part Of ‘Social Capitalist’ Life

A comedy bit tells of a fictional inventor who “created a soft drink called 4-Up” that went through several iterations—“5-Up, 6-Up”—but never caught on, and the man “gave up and died, brokenhearted”—followed by a pause and the punchline, “Little did he know how close he came.”

Singapore Investor Pays $42.5M for Irvine Center

1st Real Estate Buy in US For Newport Beach Unit

Three-building retail property Jamboree Promenade near John Wayne Airport in Irvine changed hands.

Local Game Makers Ply Creations at LA Confab

Plus, Qualcomm Faces Lawsuits Over Broadcom

Orange County’s strong contingent of video game publishers and related companies were well-represented at this year’s E3 conference in downtown Los Angeles, a departure from the past few years.

Hyundai Positions New Veloster Coupe for Stardom

To Be in Ant-Man Sequel; Mini Version Planted in LA

Hyundai Motor Co. is getting buzzy over Marvel Studios’ big-screen debut of Ant-Man sequel “Ant-Man and the Wasp” next week.

Allergan Reports Positive Data on Glaucoma Implant

Meanwhile, More Board Tweaks to Help Reposition

In light of impending generic competition, Allergan PLC recently made the point that its eye care business is more than dry-eye drug Restasis.

PHILANTHROPY

A sold-out crowd gathered at the Ritz-Carlton on March 3 to enjoy the best of Napa Valley wineries and help find a cure for Duchenne muscular dystrophy.

Bioskills Cadaver Labs Provider Axis Scales Business

HEALTHCARE: East Coast expansion will add 10,000 SF

Axis Research & Technologies is growing its footprint, starting with the July opening of a 10,000-square-foot facility in Columbia, Md.

High Time for Some Booze

Family Business Still Fizzes in 7th Decade

Cousins, siblings, in-laws, sons and daughters seem to be around every bend in the winding, overstuffed corridors, aisles and nooks of this 22,000-square-foot wine and spirits mecca.

Authenticity Comes Home

Convenience Is Easy, Quality Harder

Convenience is key to fast-casual food.

Diversification, Stability Equal Success

Homebuilder Has Lending, Tech, Commercial Arms

­To get an idea of the business acumen of Far West Industries and the Lissoy family, take a look at the Santa Ana-based homebuilder, developer and investor’s local operations during the Great Recession.

ARES Adds Platinum Triangle Rentals for $100M+

REAL ESTATE: Anaheim portfolio now tops 1,500 units

Irvine-based apartments investor Advanced Real Estate Services Inc. has made its largest local acquisition in several years, picking up a rental complex near Angel Stadium in the Platinum Triangle area of Anaheim.

Clean Energy Gets Cash Infusion, Stock Bump

ENERGY: Big Paris oil, gas co. gets 25% stake in green-fuel bet

A strategic investment and new partnership with one of the world’s largest oil and gas companies has improved Clean Energy Fuels Corp.’s Wall Street story after years of financial losses.

Still Relevant

Small Business Administrator Linda McMahon in town visiting customers and SBA District HQ 48 of 68, 18 mos. into the job.

Active Year for Restaurants, Even Before Chipotle

$4.5B Chain to Debut At No. 2—Next Year

Boy, will this list be different next year.

Real Estate Deals

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

Reimbold Family Trust sold a manufacturing building to American Leak Detection for $1.6 million, or $217 per square foot.

Business Bites

Other items of interest Orange County Business Journal Vol. 41, No. 26

Alfred Chang was promoted to president of Anaheim-based retailer Pacific Sunwear.

Friday, June 22

Muscle Car Man

If you’ve “turned it too far and need to bring it half-a-turn back” Jeff Leonard can help.

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Midday Stock Roundup

The S&P 500 was up 0.5% in midday trading to 2,762.73.

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Larry Thomas, Message Man for All Seasons

Irvine Co. Exec’s Passing Hits Hard and Wide

Larry Thomas died on the morning of June 12. He was 70.

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OC 500: Andreas Hinrichs

Makes app for finding, buying, lending on cars … ex-Daimler finance exec; firm backed, $50M, by ex-employers … carmakers add dealerships, financing, sometimes investing … Sept. 2017 added Hyundai, Kia, Genesis … added VW, Audi, July; investor, $30M … dealerships of OC 500’s Fletcher Jones, Nov. 2016

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Thursday, June 21

Chapman Boosts US GDP Forecast

The U.S. economy should grow 2.7% this year, up from the 2.5% predicted in December, according to the latest economic forecast from Chapman University.

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Pyott Foundation Gives to Easterseals

The David and Molly Pyott Foundation gave a $1.7 million gift to Easterseals Southern California (ESSC).

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Wells Fargo to Shut 2 Irvine Auto Offices

Wells Fargo & Co. is closing two auto financing offices in the Irvine Spectrum, resulting in 67 employees to date leaving the firm.

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Midday Stock Roundup

The S&P 500 was down 0.4% in midday trading to 2,755.72.

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PacSun Names President

Alfred Chang was promoted to president of Anaheim-based retailer Pacific Sunwear on Wednesday.

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KPRS Constructs Itself

Brea Firm Plays Up Employee Balance for Great Service

KPRS Construction Services Inc. is celebrating its 20th anniversary this year. That means it survived economic slowdowns caused by the internet bubble burst, the 9/11 terror attacks, and the 2008 financial collapse.

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OC 500: Khanh T. Tran

Joined PacLife 1990 as treasurer … named CFO 1996, director 1997, CIO 2011, president 2012, current role 2016 … ACG 380 planes owned, or on order, $9B assets, $1.8B equity capital … 2016 profit: $138M, up 29% YOY … plans IPO … Business Journal CFO of the Year 2011 … snow, water skiing, scuba … mentor: mother; role model: father ... B.A. Whittier College; MBA UCLA ... three words: ‘inquisitive, innovative, industrious’

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Long Beach’s Real Estate Reach Long

REAL ESTATE: Douglas Park hotspot for developers from OC

Orange County’s main hub of business might be the area around John Wayne Airport, but for several members of OC’s real estate development community, LGB has been the preferred destination over the past few years, not SNA.

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OC 500: Richard Pickup

Savvy equities, real estate buyer … invested in former local players Epicor Software Corp. and Carl’s Jr. parent … RE buys include $250M acquisition + renovation Balboa Bay Club, Resort; NB Country Club … stunning clubhouse at latter overlooks PCH … invests in Pacific Hospitality Group-led deals … son Todd expanding role, own investing … family stake in Impac Mortgage Holdings Inc..

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Wednesday, June 20

Midday Stock Roundup

The S&P 500 was up 0.3% in midday trading to 2,771.49.

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Ducks Net UCI Health Sponsorship

The UCI Health system has been named the inaugural presenting sponsor of the Anaheim Ducks, the franchise said this morning.

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Tuesday, June 19

Evolus Adds CMO

Evolus Inc. named Michael Jafar chief marketing officer, a new position, and its second recent hire from the executive ranks of Allergan plc.

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Midday Stock Roundup

Indexes were down in midday trading on increased global trade tension.

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Cylance Raises $120M

Cylance Inc., one of the highest valued private companies in Orange County, has raised $120 million in a venture round led by prior investor Blackstone Tactical Opportunities.

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Hyundai, Kia Reorganize US Ops

A shakeup has happened in the North American offices of South Korean automakers Hyundai Motor Co. and affiliate Kia Motor Corp.

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Lyon Lead for Next Great Park Homes Leg

REAL ESTATE: $166M land buy for homes starting at $350K

William Lyon Homes (NYSE: WLH) has been tapped to build one of the most unique home developments in Orange County in several years, a 536-unit project at Great Park Neighborhoods in Irvine with a large number of affordably priced homes.

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OC 500: Anthony Moiso

OC’s No. 2 landowner after Donald Bren … heads development, leasing arm of Moiso, O’Neill, Avery families … South OC ... includes real estate development leasing, cattle and ag operations … latest phase of RMV housing, Escencia community … took chairman title this year … president duties to longtime company man Don Vodra

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Monday, June 18

Ahmansons Back Housing Conference

Fieldstead and Co. in Irvine plans a daylong “What Would Howard Do?” discussion of home ownership at the University of Southern California on Aug. 1.

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Midday Stock Roundup

The S&P 500 was down 0.4% in midday trading to 2,769.96.

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Broadcom Cuts 1,100 Jobs

San Jose-based Broadcom Inc., which maintains a sizeable operation in Irvine, has issued another round of deep job cuts following an acquisition.

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22 Private Cos. Have Double-Digit Growth

110 Firms Combine For $100B in Annual Revenue

Strong sectors of the economy, acquisitions, and emerging markets and technology drove double-digit revenue increases at several Orange County private companies—including three top-ranked businesses, where revenue totals make bigger bumps harder to come by.

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OC 500: Bill Link

Co-founded healthcare VC firm 1999 … specialty: early-stage medical device firms … $2.3B AUM … 65 IPOs or acquisitions … founder, American Medical Options, sold to Allergan 1986; founder ophthalmic surgical co. Chiron Vision, sold to Bausch & Lomb … chairman, Glaukos since 2001 … Edwards Lifesciences, Allegro Ophthalmics boards … avid aviator, hiker, skier, bird hunter … Colo. a favorite locale

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Community-Minded Firms of All Sizes Wanted for OCBJ’s Annual List

CALL FOR ENTRIES: Website will take entries through June 29

Is your company about much more than its bottom line? Does it also use its resources to better the Orange County community?

Radical Changes Unlikely at Allergan

HEALTHCARE: Activists seek to unlock shareholder value

A letter from activist shareholders Appaloosa LP in Miami, Fla., and New York-based Senator Investment Group LP to Allergan PLC (NYSE: AGN) last week is a short-term blessing in disguise.

Bring Your “A” Speech

It was late 2007, unusually muggy summer night at Shady Canyon Country Club. The crowd was mostly execs, mostly in suits. The guest of honor’s boss, Irvine Co. Chairman Donald Bren, sat front row.

Business Bites

Other items of interest Orange County Business Journal Vol. 41, No. 25

Richard Gannotta was named chief executive of UCI Health, the clinical, medical education and research arm of the University of California-Irvine.

Real Estate Deals

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

VisionWise Capital sold a multifamily apartment building to Shirley Sjaholm for nearly $2.9 million, or $570,000 per unit.

Information supermarket highway: How grocery stores stay relevant in digital world

Technological innovation has been a boon to the average American consumer, but on the other end of the spectrum, it’s proved to be the bane of aging retailers that struggle to keep pace with the onslaught of change.

OCBJ Calendar

June 18-27, 2018

This week's business and other event listings.

H&X 1 Year Old and Mapping Out OC Expansion

Subsidiary of Japanese Audio Equipment Makera

The Irvine-based H&X Technologies, part of Hibino Corp. in Tokyo, was launched about a year ago to establish a foundation in Southern California to sell and lease its suite of high-res LED displays and products through the U.S.

Premier Business Centers Tops in Co-Working in OC

REAL ESTATE: Bascom unit has 15 OC sites, 277K SF

Premier Business Centers doesn’t have the Wall Street buzz WeWork Inc. does or brand-new locations in some of Orange County’s recently built or redesigned office developments like some other co-working peers, such as Spaces.

Stance Adds Fintech To Move Checkout Lines

APPAREL: Retailer puts ‘disruptive DNA’ into stores

Stance Inc. wants to make standing in line a distant memory at its retail shops.

Arbonne Polished Self With Tech 911 Job

RETAIL: Beauty, nutrition co. was handicapped by crashes

A digital transformation and IT overhaul launched five years ago helped Arbonne International LLC move from a stagnant retailer to a coveted takeover target.

Sterilization-Validation Device Maker Raises Series B

Verrix Plans to File For FDA OK by Year-End

While the medical equipment sterilization market is less hyped than the healthcare startups industry, it’s growing.

Fifth Third Bank To Expand Into OC

FINANCE: Midwest giant seeks to hire local talent

The Orange County banking sector is about to get even more intense.

Retail Center Near South Coast Plaza Sells for $46.5M

JH Real Estate Partners Swaps Rentals for Retail

Newport Beach-based JH Real Estate Partners Inc. recently added a big local property to its growing retail portfolio, a shopping center across the street from South Coast Plaza.

Action-Sports Brand to Broadcast Events on Facebook

MEDIA: Two web series are also in works

Nitro Circus has pulled yet another stunt. The actions-sports entertainment company signed a deal with Facebook to broadcast 28 events on the social media giant’s Facebook Watch video app.

Alteryx Shares Customers’ Props at Annual Conference

Says Software Boosts Cos., Even Fights Malaria

The influence and future of data analytics was on full display at Alteryx Inc.’s annual convention at the Anaheim Convention Center.

Agency Helps Veteran Builder Reinvent Its Image

130-Year-Old Swinerton Plays Up Staff Ownership

San Francisco-based construction firm Swinerton Inc. wanted to mark its 130th anniversary with a new identity.

BioPhotas Woos Consumers With Hand-Held Device

‘Pod’ Priced to Move, Used For Multiple Conditions

The Orange County medical device scene continues to bustle with activity.

Family Firms Honored

Members of the Orange County business community gathered at Hotel Irvine for the Business Journal’s 19th annual Family-Owned Business Awards on June 14.

Food Truck ‘Meet-Ups’ Common; How They Do It

Crepes Bonaparte Founders Expand Southern California Reach

You might not have heard of Curbside Bites, but there’s a good chance you should be thanking it roughly once a week.

Friday, June 15

The Story of “LT”

Larry Thomas spent a lifetime as a master storyteller. Family and friends share their stories about “LT” after his passing at age 70.

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Five Family Firms Feted

Orange County's community of business gathered Thursday at Hotel Irvine to celebrate honorees of the Business Journal’s 19th annual Family-Owned Business Awards.

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Midday Stock Roundup

The S&P 500 was down 0.3% in midday trading to 2,773.65.

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OC Unemployment Same

Orange County’s unadjusted unemployment rate was 2.6% in May, unchanged from a revised April estimate, and down from 3.2% year-over-year, according to the state’s Employment Development Department.

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End of an Era: ‘Jimmy P’ And Microsemi Corp.

TECHNOLOGY: New owners cut quickly, eye ‘synergies’

Microchip Technology Inc. Chief Executive Steve Sanghi has ousted the entire management team at Microsemi Corp. following its $10.3 billion acquisition, according to sources close to the matter.

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Thursday, June 14

OC 500: Libby Stockstill

General Counsel Award honoree … legal eagle for Billabong, Element, RVCA brands of $187M Australia apparel maker … IP, real estate, governance, regulatory, M&A, employment, marketing … streamlining, integrating ops across languages, currencies … eight years, Latham & Watkins … English degree UCLA; Notre Dame law

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Rome Calls on Clones in Hall Push

Jim Rome, who’s attracted millions of listeners with his hot takes on sports and pop culture and his confrontational demeanor, has been nominated for the National Radio Hall of Fame.

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Midday Stock Roundup

The S&P 500 was up 0.3% in midday trading to 2,783.92.

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Airport Turns In Solid FY 2017

John Wayne Airport reported a solid—even stolid—fiscal 2017 with stable revenue, positive operating income, and lower interest expense for the year ended June 30.

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Wednesday, June 13

Carrick Has Wind at Its Investing Back

FINANCE: NB’s Madden finds opportunities in backyard

Jim Madden doesn’t want to be a chief executive anymore. Been there. Done that.

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OC 500: Rick Reiff

Four-time Golden Mike winner … threetime Emmy nominee … former co-host ‘PBS SoCal Insider’ … led team, Akron Beacon-Journal, Pulitzer Prize 1987 for coverage of corporate raider James Goldsmith’s takeover battle for Goodyear Tire … originated Business Journal OC Insider column … Chicago native; Northwestern U. grad … emcees SoCal events… wife, Mary Ann Brown, EVP, Pacific Life

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Midday Stock Roundup

The S&P 500 was up 0.1% in midday trading to 2,788.15.

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Irvine Biotech Gets $40M

PeproMene Bio Inc. raised $40.2 million from 17 investors in a Series B funding round, a June 11 Securities and Exchange Commission filing said.

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Tuesday, June 12

Santa Ana’s MainPlace Eyed for Big Makeover

REAL ESTATE: Apartments, offices, hotels proposed for site

The owners of MainPlace Mall in Santa Ana, Orange County’s ninth-largest shopping center by sales, have proposed an extensive overhaul of the roughly 50-acre property.

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OC 500: Mary Ann Brown

Among OC’s highest-ranking female execs … started, chairs, PacLife reinsurance unit: $200M profit 2016, tripled YOY … inducted, Insured Retirement Institute Hall of Fame for ‘leadership and vision’ … married to

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Rimrock-Backed Company Files Chap. 11

Rimrock Capital Management LLC, an Irvine-based private equity group with $4 billion assets under management, is reorganizing LakePoint Land LLC., a 1,300-acre, Georgia complex famous for its sports facilities.

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McCarthy Names Myers Head of NB Office

McCarthy Building Cos. Inc., the largest commercial construction company in Orange County, named Mike Myers president of the firm’s Southern California region.

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Midday Stock Roundup

The S&P 500 increased 0.2% in midday trading to 2,785.87.

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Real Estate Exec Stan Ross Dies at 82

Stan Ross, who had a major influence on Southern California’s real estate industry through his accounting and finance work, died at age 82 on Sunday from complications of a stroke.

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It Survived – Now It Wants to Thrive

Telematics Specialist CalAmp Expands Services

The beeps intensify, and the directional signal from the LoJack stolen-vehicle recovery system is pointing north.

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Monday, June 11

ReShape Raises $1.5M

San Clemente-based ReShape Lifesciences Inc. (Nasdaq: RSLS) raised nearly $1.5 million from several institutional investors for the purchase of 374,572 shares of its common stock at $3.92 per share, according to filings with the Securities and Exchange Commission.

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Montage Los Cabos Open

Montage International’s Los Cabos resort is ready for its close-up.

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UCI Health CEO Named

Richard Gannotta was named chief executive of UCI Health, the clinical, medical education and research arm of the University of California-Irvine.

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NB Maker Dinged for Lead in Baby Food

State Attorney General Xavier Becerra named Newport Beach food manufacturer Graceleigh Inc. in a lawsuit last week for selling toddler formula with high levels of lead.

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OC 500: Anthony Maglica

Anaheim Hills resident … 100 patents … started Ontario-based Mag making parts for pumps, aerospace … $125 down payment on $1K metal lathe … Mag-Lite flashlight intro’d 1979 … fave of first responders, weekend warriors … backed federal labeling standards for Made in U.S.A. designation, currently state-by-state rule … born NYC 1930; raised coastal Croatia … backs breast cancer research … Business Journal OC’s Wealthiest, $550M

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Midday Stock Roundup

The S&P 500 was up 0.4% in midday trading to 2,789.84.

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Fire Roasted: Real Mex Price Likely Sub-$100M

RESTAURANTS: Cost-cutting, revenue attempts, go only so far

When Real Mex Restaurants Inc. sells again, it’ll be for less than $100 million, considering the decade of woes at the Cypress-based casual dining chain:

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OC 500: Adrian Griggs

Promoted to role 2017 … previously CFO at OC’s largest private co. by revenue at $9B … replaced as CFO by Darryl Button … duties include PacLife’s securities brokerage, Pacific Select Distributors; asset manager, Pacific Asset Advisors … nearly 25 years, parent co. … previously Deloitte … reports to PacLife CEO James Morris, fellow OC 500er … bachelor’s, UCSB

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CEO Unfazed By ‘No’ Vets Cemetery Vote

REAL ESTATE: Revised land plans one more tweak to site

FivePoint Communities Inc. Chief Executive Emile Haddad continues to strike a positive tone on the future of Great Park Neighborhoods in Irvine, despite an election loss that will result in another change in plans for part of the former El Toro Marine base.

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Aivita Biomedical Raises $15 Million Series B

HEALTHCARE: To hire, grow consumer line, clinical programs

Eighteen-month-old Aivita Biomedical is in pretty good shape for a newly formed company.

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CalAmp Shows How to Go About a Refresh

MARKETING: Firm aligns its, LoJack brand’s looks, and more

CalAmp Corp. set out to reinvent businesses through telematics, or technology that remotely monitors assets, such as cars.

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Ventura Bound?

It’s referred to as the Ventura Laboratory. Late ’70s to ’90s, residents of major Ventura County cities elected officials, passed laws to effect smart growth—SOAR initiatives, “save open space and agricultural resources.”

Construction Firms Report Solid Gains; 10-Year High

$9.1B in Commercial Work By Local Offices

Orange County’s largest commercial construction companies defied some worrisome regional trends to post their best revenue year in a decade.

Irvine Office Projects Dominate OC Development

4M SF of New Ones Opened Here in Past Year

Orange County’s commercial development community was buoyed over the year ended April 30 by a surge of office openings, primarily in Irvine, the country’s biggest office market.

Industrial Market Gets Infusion of Needed New Blood

Industrial Pipeline Biggest It Has Been Here in Years

There are signs of life for development in Orange County’s aging industrial market.

Busy Irvine Retail Center Eyes More Shops, Parking

23,000-SF Expansion On Tap for 1.7-Acre Site

The owners of the popular Diamond Jamboree shopping center in Irvine are proceeding with plans for a sizable addition to their project.

Lil ‘O’ Blossom, Mien ‘Mommy’ Scale Businesses

Baby Items Get Hospital Nod; Additional Colors

Balancing motherhood and a career isn’t just a dream when it comes to Lil ‘O’ Blossom founder and Chief Executive Lorie Collins.

OCBJ Calendar

June 11-20, 2018

This week's business and other event listings.

Real Estate Deals

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

CM-Legion GP sold a storefront retail/office building to Wild Orchid Investments LLC for $2.5 million, or $156 per square foot.

Henry Samueli Turns Up His Nose at Esports Team

Keeps His Money; Maybe He’s Just Partial to Hockey

Broadcom co-founder and Anaheim Ducks owner Henry Samueli passed up an opportunity to buy a professional video gaming team.

Asics Grooves on 3-Year Live Nation Festival Gig

Exclusive Kicks Sponsor Of US, Canada Events

Asics America Corp. is ready for the summer music festival season, but consumers can bank on getting more than flower crowns.

Device Makers Inari, Branchpoint Get FDA Nods

Tennis Deal Gets Masimo Into Fitness Wearables

Irvine-based medical device maker Inari Medical Inc. received Food and Drug Administration clearance for the FlowTriever System, which is used to treat pulmonary embolism, a condition in which one or more arteries in the lungs are blocked by a blood clot.

PHILANTHROPY

The Allergan Foundation, Capital Group Cos., First Republic Bank, Haskell & White LLC, the Moulton Co., Nolet’s Spirits and U.S. Bank were among the corporate sponsors that, together with community philanthropists and supporters of the arts, raised $1.7 million for the Laguna Playhouse at its annual gala.

Community-Minded Firms of All Sizes Wanted for OCBJ’s Annual List

CALL FOR ENTRIES: Website will take entries through June 29

Is your company about much more than its bottom line?

Business Bites

Other items of interest Orange County Business Journal Vol. 41, No. 24

Partners Bank of California, a Mission Viejo based firm with $300 million in assets, hired Chris Walsh as president.

Friday, June 8

The Rebranding and Restructuring of CalAmp

The Irvine satellite company was floundering, then it got into new business lines with a fresh look. Now it’s a telematics power and the best may be to come for CalAmp.

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Midday Stock Roundup

The S&P 500 was up 0.2% in midday trading to 2,774.86.

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Thursday, June 7

Billionaire Icahn Takes Allergan Stake

Following a letter from activist investors Appaloosa LP in Miami, Fla., and New York-based Senator Investment Group LP to Allergan PLC’s board of directors that recommends changes—including separating the chief executive and chairman roles—billionaire Carl Icahn also threw his hat in the game, taking an undisclosed position in Allergan, according to Bloomberg.

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ShiftPixy Places $9M Debt

ShiftPixy Inc. raised $9 million in gross proceeds from a June 4 private placement of 8% senior secured convertible notes with institutional investors.

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7-Eleven Testing Can By Irvine Inventor

FOOD: Century of bottling innovation could bear fruit

Beta testing of an Irvine inventor’s new can in 7-Eleven locations in Los Angeles is the latest chapter in a 25-year saga to bring self-cooling technology to consumers worldwide.

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OC 500: Wendy Hales

Former political maven … now executive assistant to OC 500’s Julia Argyros, Hale’s role model and ‘strongest person I know’ … biggest accomplishment 2017: working on Segerstrom’s Julianne and George Argyros Plaza and Fountain … recalls Prince’s ‘Purple Rain’ as music fave, back in the day … life turning point: ‘moving home from Spain to marry the love of my life’

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Midday Stock Roundup

The S&P 500 was down 0.3% in midday trading to 2,763.44.

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OC 500: Shannon Eusey

Women in Business honoree … cofounded firm 2002 with dad, Garth Flint, who was co-founder of Canterbury Consulting … UCLA MBA, wrote Beacon Pointe business plan … professor expressed doubts, gave it B … keeps

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‘Big Deal,’ Brandman Lands Walmart Partnership

EDUCATION: One of three picked for subsidized tuition

Brandman University’s business is providing higher education to working adults, partnering with over 2,700 companies like Irvine Co. and Blizzard Entertainment.

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Wednesday, June 6

JWA Gets Two For Texas

John Wayne Airport has two new destinations.

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Midday Stock Roundup

The S&P 500 was up 0.4% in midday trading to 2,760.40.

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Duran Duran

Doubling Assets Every Three Years, NB Adviser Seeks $1B Valuation

Even Joe Duran has arguments about money with his wife, Jennifer.

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OC 500: Adon Panattoni

One of largest privately held U.S. industrial developers … 75M SF globally past five years … last big local project multibuilding Anaheim Concourse on 60 acres at ex- Boeing base … smaller OC projects various stages … recent work in Vegas suburbs; August deal to buy 62 acres at Richmond, Va., port facilities to build 1M SF distribution space … son of company founder, chairman Carl Panattoni

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Tuesday, June 5

Supervisors OK JetSuiteX

JetSuiteX can begin flying from John Wayne Airport after the Board of Supervisors today unanimously approved the plan in “the first instance of a regularly scheduled commercial user operating from a location other than the Thomas F. Riley Terminal” according to the board’s agenda item.

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ChromaDex Appoints CMO

ChromaDex Corp. (Nasdaq: CDXC) named Lisa Bratkovich chief marketing officer, effective June 4.

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PHG Takes Two Miraval Vets

Pacific Hospitality Group in Irvine named Paul McCormick president and chief operating officer and Tom Walston corporate director of information technology and business intelligence.

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Irvine Scientific Now Fujifilm Subsidiary

Fujifilm Corp. President Kenji Sukeno said the company completed its earlier-announced acquisition of two cell culture media businesses, Irvine Scientific Sales Company Inc. in Santa Ana and Is Japan Co. Ltd. in Tokyo, from Japanese oil and metal conglomerate JXTG Holdings.

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PHG’s Kramer Departs; Hotel Runner Gets VP

Pacific Hospitality Group Chief Investment Officer Kory Kramer left the Irvine-based hotel owner-operator to start a hospitality venture. He’s now a consultant with PHG, which named a new vice president of investments to take on some of his former responsibilities.

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Midday Stock Roundup

The S&P 500 was unchanged in midday trading at 2,746.89.

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OC 500: Reza Jahangiri

Started reverse mortgage firm 2004; now largest U.S. provider … $216M 2016 revenue; 1,200 workers … Forbes: his stake worth $100M … portfolio co. SF PE firm Friedman Fleischer & Lowe LLC … cochairs industry association … AAG celebrity pitchers: Peter Graves, Fred Thompson, Tom Selleck … wife actress Kate Levering, ‘Drop Dead Diva’ … skateboarding, guitarplaying son of Iranian refugees

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Dendreon Scales Local And International Presence

HEALTHCARE: With Sanpower as owner, plans China facilities

Dendreon Pharmaceuticals LLC is emerging from last year’s sale, its second in three years, stronger than ever, with near-term international expansion in sight. Chief Executive James “Jim” Caggiano said its parent company, Nanjing-based Chinese conglomerate Sanpower Group Co. Ltd., will set up manufacturing facilities in Hong Kong and China.

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With Hydrogen, Jannard Shoots for a Three-Peat

MEDIA: August launch eyed for 3D, 4-view phone

A row of black booths lined the soundstage at RED Studios Hollywood on a recent Saturday, each manned by an attendant guarding a yet-to-be-released Hydrogen One. The smartphone, developed by Irvine-based Red Digital Cinema Camera Co., enables users to see multidimensional content without headgear—Hydrogen’s screen acts as the proverbial fourth wall, behind which layered imagery immerses the viewer into 4-view, holographic scenes.

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OC 500: Jim Jannard

Not so much reclusive as choosy— eschews limelight, active on company forum … launches global-reaching concepts from top-flight tech, selects time, place, way of presenting … summer 2017 teased, then announced his new smartphone, Hydrogen One … $1,200 to $1,600 price tag … He holds 90 patents … founded Oakley Inc., sold for $2.1B … Business Journal OC’s Wealthiest, $3.2B

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Monday, June 4

Sabra Sells 12 Facilities for $134M

Irvine-based Sabra Health Care REIT Inc. (Nasdaq: SBRA) completed the previously announced sale of 12 facilities leased to Genesis Healthcare Inc. (NYSE: GEN) for $134 million.

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Midday Stock Roundup

The S&P 500 rose 0.4% in midday trading to 2,746.63.

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Auction.com Names CTO

Irvine-based online distressed real estate auction company Auction.com promoted Amit Aggarwal to chief technology officer on Monday.

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Montage’s Pendry for NYC

Montage International’s Pendry Hotels lifestyle division will manage a 164-room hotel when it opens in 2021 as part of a Manhattan mixed-use development by Brookfield Property Partners LP.

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‘No ***Holes’ Agency Sets Up Shop in Orange Co.

Head Broker Comes From Malibu With New Tack

Beverly Hills luxury brokerage The Agency has grown its West Coast footprint over the past year with nine new offices, but it took a bit of coaxing for it to open No. 10, its first Orange County outpost.

Opposing Sides Prep for Acacia Shareholder Meeting

Activist Investors’ Picks Challenge Chair, Director

Acacia Research Corp.’s annual shareholder meeting next week could determine the direction the Newport Beach-based company will take after several years in choppy waters.

Intersect Redo Shapes Up With Shipping Containers

Restaurant, Bar, Chickens All Part of New Courtyard

Backed by a new financing deal and a flurry of recent leasing activity, the owners of the Intersect office campus in Irvine are almost finished with nearly $25 million worth of redevelopment work at the four-building project near John Wayne Airport.

RealHer Products, Philanthropy Benefit LGBT People

Beauty Brand Encourages Women to Own Identities

Indie beauty brand RealHer Inc. is sharing the love.

5 Offices in Aliso Viejo’s Summit Sell for $150M+

REAL ESTATE: 1st direct OC investment for Rockpoint

A deep-pocketed Boston-based real estate investor has bought five offices in Aliso Viejo in what looks to be the priciest commercial property transaction in Orange County so far this year.

OC, Home to Pimco, Has Hidden Money Managers

Some Firms Stay Under Radar as Assets Swell

Orange County is home to a number of famous financial firms, including Pacific Investment Management Co. and Pacific Alternate Asset Management Co.

OC Gets Heart: Medtronic, Edwards Report Trial Updates

Hancock Jaffe Labs Revises IPO Numbers

Orange County’s reputation as one of the country’s top medical device hubs is well-deserved, and its cardiovascular disease-focused device makers are buzzing with activity.

Anaheim White House Better Second Time Around

Il Barone Gets Settled In New, Bigger Location

Bruno is back!

Broker-Dealers Grow Representatives Staff 2.6%

Firms Adapt to Trends, Including Robo Rivals

While the talk on Wall Street is about a decline in the number of stockbrokers, Orange County’s largest broker-dealers are coping.

Panattoni Starts Latest Anaheim Industrial Project

REAL ESTATE: 4 buildings at Placentia city line planned

Panattoni Development Co., the most active industrial developer in Anaheim over the past decade, has started work on another project there, a multibuilding business park at the Placentia city line.

Hard to Do

Rumored Allergan break-up more like a broken Snapstreak … remember Snap? Two-unit spinout could fetch $5B to $6B but will take awhile … activist investor David Tepper not known for patience.

What is an RIA?

The financial world is in an ongoing contentious debate—escalated by recently enacted regulations on fiduciaries—about the definition of a registered investment adviser versus an investment adviser who may also sell stocks and/or insurance.

Q & A

Advice from OC Financial Advisers

More than 1,000 financial advisers work in Orange County, spread across more than 100 financial firms. Some trade stock for broker dealers. Some provide advice, along with insurance. Some are registered investment advisers, also known as RIAs, providing only investment advice. And others offer a combination of all services.

Real Estate Deals

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

Michael and Kathy Gorski sold a showroom building to Stratford Equity Group LLC for $3.1 million, or $330 per square foot.

Business Bites

Other items of interest Orange County Business Journal Vol. 41, No. 23

Disneyland Resort started building a 6,500-space parking structure valued, according to permits, at $100 million, and part of the park’s $2 billion expansion, which also includes a fourth hotel and Star Wars: Galaxy’s Edge.

VC Firms Reduce OC Investments 22% to $65.1M

Execs Say They’re Still Bullish on Local Startups

Venture capital firms based in Orange County decreased their local investments last year by about 22%.

OCBJ Calendar

June 4-14, 2018

This week's business and other event listings.

New Business Journal List Highlights RIAs

Independent Wealth Managers Surging

The Business Journal is introducing a new list this week showing large or better-known registered investment advisers, also known as RIAs.

Friday, June 1

New Shooter, Biggest Deal; Joe Knows Wealth

The hits keep coming for owners of OC commercial real estate, biggest sale to date, first-time OC shopper Boston-based Rockpoint spending $150M+ for five buildings at the Summit Office Campus in Aliso Viejo.

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Hotel Markets Strong in April; CBRE Ups Outlook

Average daily rates at hotels in seven Orange County submarkets increased year-over-year in both year-to-date and month-of-April comparisons, according to CBRE Hotels in Los Angeles; the real estate broker and consultant also increased its national hotel market outlook for the year.

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May Auto Sales Up

Nearly all of Orange County’s automakers reported an uptick in sales for May while year-to-date sales remain mixed.

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AutoGravity Hires General Counsel

AutoGravity, an Irvine-based auto-lending fintech, hired Jennifer Ishiguro as executive vice president and general counsel.

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Partners Bank Hires Blue Gate’s Walsh

Partners Bank, a Mission Viejo based firm with $300 million in assets, has hired Chris Walsh as president.

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Midday Stock Roundup

Indexes were higher in midday trading on a strong jobs report that showed nonfarm payrolls and wages rising.

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Athletes First’s Historic Deal With NBA Union

SPORTS: NFL superagency crosses over to the NBA

The National Basketball Players Association bucked tradition and decades of history in selecting a new subsidiary formed by Athletes First LLC in Laguna Hills to handle licensing and other partnerships for its star players rather than the league that helped make it the most powerful union in professional sports.

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OC 500: Pawan Seth

Inventor, drug developer plays close to vest … has websites, lacks public email … found ways to control release, boost effectiveness of drugs … created once-daily antidepressant; generic version anti-heartburn med … sold Pharma Pass to Canadian buyer 2002 for $190M; founded second iteration … maintains creativity … pharma doctorate, Louis Pasteur U., Strasbourg … 60+ patents … Business Journal OC’s Wealthiest, $400M

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