Orange County Business Journal

FINANCE

Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...

2016 YEAR in Review: Finance

Healy is co-founder and managing director of private equity firm L Squared Capital, which opened its Newport Beach office about two years ago.

December 12, 2016 midnight   $$ Share
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Ex-SEC Chair Joins Wealth Advisory

Former Orange County Congressman and Securities and Exchange Commission Chairman Chris Cox joined the board of Leawood, Kan.-based Creative Planning Inc. as director of regulatory governance.

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Healthcare Data Firm in $34M Buy

Auxilio Inc. in Mission Viejo bought CynergisTek in Austin, Texas for up to $34.3 million—$26.8 million upfront and up to $7.5 million in milestone payments over the next five years.

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Building Materials Firm Files for IPO

Foundation Building Materials Inc., a Tustin-based distributor of wallboard and suspended ceiling systems, among other items, has filed for an initial public offering.

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Oakley Parent Sets $49B Merger

Oakley Inc.’s Italy-based parent, Luxottica Group SPA, plans to combine operations with Essilor International S.A. in France, pending regulatory and shareholder approval.

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Carrick Invests in Virginia

Carrick Capital Partners in Newport Beach invested $22 million in Perfect Sense Inc. in Reston, Va.

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New Operator for GG Knitting Mill

Broncs Inc. in Compton has reached an initial deal with American Apparel LLC to take over the lease for its textile facility in Garden Grove, according to news reports.

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Irvine First in Fiscal Strength

The City of Irvine earned top marks from the Fiscal Times for fiscal strength among U.S. cities.

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Anaheim Landscaper Acquired

Marina Landscape Maintenance Inc. in Anaheim was bought by BrightView Landscapes LLC in Plymouth Meeting, Pa., on undisclosed terms on Jan. 1.

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Pacifica Sells SD Hotel

Pacifica Hotels in Irvine sold the 80-room Sommerset Suites in the Hillcrest neighborhood of San Diego for $19.5 million to Sentre Partners, also in San Diego.

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RSI Communities Buys Beaumont Site

Newport Beach-based homebuilder RSI Communities said it has bought a 228-acre site in the Riverside County city of Beaumont, where it plans to build a 981-home development called Olivewood.

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Biolase CFO Resigns

Biolase Inc. in Irvine said Chief Financial Officer David C. Dreyer will resign effective Jan. 13 for “personal reasons unrelated to the company’s financial condition.”

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Lotus Makes Another Buy

Lotus Innovations LLC in Irvine acquired Commerx Corp., a leading global provider of digital and telecommunications services.

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PE Firm Buys Sandal Brand

Courtney Group Inc. in Newport Beach acquired sandal brand Flojos from Conscious Corp. in Thousand Oaks on undisclosed terms.

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Aircraft Leasing Exec to New Board

Aviation Capital Group Vice Chairman Denis Kalscheur has left that post and joined the board of Avolon.

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Eye Stent Developer Gets $25M

Ivantis Inc. in Irvine closed on a $25 million Series C funding round for development and eventual marketing of a stent intended for use in glaucoma surgery.

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Yum China Taco Bell Opens

The first Taco Bell restaurant in China opened in Shanghai’s central business district as part of the fast food chain’s plan to open 1,000 restaurants overseas by 2022.

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CM Insurer Joins National Broker

Centennial Group Benefits in Costa Mesa merged with 23 other U.S. insurance brokers to form Alera Group, backed by San Francisco private equity firm Genstar Capital LLC.

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$1.2M to Symphony to Engage Chinese Community

The Los Angeles-based James Irvine Foundation awarded another $1.2 million grant to the Orange County-based Pacific Symphony to support efforts to strengthen its commitment to Orange County’s Chinese-American communities through arts engagement.

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Confie Grows in Southwest

Confie Seguros bought Auto Insurance America Corp. on undisclosed terms.

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PE Firm Buys in Virginia

Private equity firm Lotus Innovations LLC in Irvine acquired Edge Technologies Inc. in Reston, Va., on undisclosed terms.

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Ensign Buys Assisted Living Land

Ensign Group Inc. in Mission Viejo bought the parcels under 15 assisted living facilities it runs in Wisconsin and plans to buy more land under the healthcare properties it operates in more than a dozen states.

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Visit Anaheim Starts Show

Visit Anaheim plans to hold its first Sports Express show at the Wyndham Anaheim Garden Grove Jan. 11 to 13. The event will draw 15 to 20 sports event organizers and meeting planners, plus attendees from local hotels and cities.

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Electronics Maker Buys in Canada

Infinite Electronics Inc. in Irvine acquired KP Performance Antennas in Edmonton, Alberta, Canada on undisclosed terms.

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Kawaski, Citi to Offer Credit

Foothill Ranch-based Kawasaki Motors Corp. U.S.A. has arranged for Citi Retail Services to offer consumer financing via Kawasaki-branded credit cards at motorcycle manufacturer’s 1,100 authorized dealers.

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CalAmp CFO to Retire

Rick Vitelle, chief financial officer, corporate secretary and executive vice president at CalAmp Corp., is retiring from the Irvine-based company.