Orange County Business Journal

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

Three Amigos

PacLife, Kingston, Golden State Foods Lead Private Cos. List—AgainThey say it’s lonely at the top, but if you invite a few friends it can get downright clubby.

By Paul Hughes June 19, 2017 10:07 a.m.   $$ Share
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Chao Family Gives UCI $5M

UC Irvine Health’s Chao Family Comprehensive Cancer Center said two new leukemia endowed research chairs would be named through a $5 million gift from the Chao family.

By Deirdre Newman June 26, 2017 4:07 p.m. share »
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Tustin Aerospace Co. Buys Competitor

Elite Aerospace Group in Tustin acquired Halo Industries Inc. on undisclosed terms.

By Mediha DiMartino June 23, 2017 12:33 p.m. share »
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Mesa Verde Tees Up $7.3M Upgrade

Mesa Verde Country Club in Costa Mesa is getting a makeover.

By Chris Casacchia June 23, 2017 10:51 a.m. share »
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Four OC RIAs Make U.S. List

Four Orange County-based firms made the Financial Times’ fourth annual list of the top 300 registered investment advisers in the United States.

By Peter J. Brennan June 23, 2017 10:29 a.m. share »
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Alliant Names CFO for Unit

Newport Beach-based Alliant Insurance Services Inc. appointed Reshma Dalia as chief financial officer of its recently formed Alliant Specialty Group.

By Peter J. Brennan June 22, 2017 9:56 a.m. share »
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Chapman Sees Lower OC Job Growth

Job growth in Orange County will slow this year to an estimated 1.5%, the slowest since the economic recovery began in 2009, according to Chapman University’s annual economic forecast.

By Peter J. Brennan June 21, 2017 5 p.m. share »
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Cookware Manufacturer Sold

Connerton Company Inc., a Santa Ana-based manufacturer of cooking equipment for the foodservice industry, was bought by Genkraft Technologies of Long Beach on undisclosed terms.

By Peter J. Brennan June 16, 2017 11:55 a.m. share »
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Acorn Cracks WSJ Top 25

Irvine’s Acorn Grows Inc. ranked No. 22 on the Wall Street Journal’s list of “Top 25 Tech Companies to Watch.”

By Pete Weitzner June 16, 2017 10:19 a.m. share »
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OC Unemployment 3.2%

Orange County’s unadjusted unemployment rate dropped to 3.2% in May from a revised 3.3% in April and below the 3.7% reported for the same period last year, the state Employment Development Department said.

By Peter J. Brennan June 16, 2017 9:50 a.m. share »
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Fight Club OC Sold

New York-based Alliance MMA Inc. has acquired Fight Club OC and other entities under the banner of Roy Englebrecht Promotions in Costa Mesa on undisclosed terms.

By Chris Casacchia June 15, 2017 1:37 p.m. share »
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Carpet Manufacturer Closes Doors

Royalty Carpet Mills Inc., a longtime area carpet manufacturer based in Irvine, has closed, as have several affiliated companies.

By Mark Mueller June 15, 2017 12:30 p.m. share »
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NB Manufacturer a Crowdfunded First on NASDAQ

Shares of Newport Beach-based ADOMANI Inc. surged this morning on its debut on the NASDAQ Capital Market after becoming the first equity crowdfunded company to list on the tech heavy exchange.

By Chris Casacchia June 15, 2017 11:16 a.m. share »
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HCP in $26M Building Buy

An affiliate of Irvine-based HCP Inc. bought the two-building Scripps Wateridge Corporate Center office campus in Sorrento Mesa, a neighborhood in northwestern San Diego County, for $26.1 million, according to CoStar Group and public data.

By Lou Hirsh June 15, 2017 10:21 a.m. share »
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First Foundation Buys Bank

Irvine-based First Foundation Inc. said it purchased Community 1st Bancorp for $50.4 million in stock to increase its presence in the Sacramento region.

By Peter J. Brennan June 15, 2017 10:16 a.m. share »
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Kellogg Leaving La Palma

Michigan-based Kellogg Co. is shuttering its distribution center in La Palma and cutting 280 jobs there, according to a Worker Adjustment and Retraining Notification the cereal and snack giant filed with the state Employment Development Department.

By Mediha DiMartino June 14, 2017 11:27 a.m. share »
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Bank Interim CFO Quits

Santa Ana-based Banc of California Inc. said J. Francisco A. Turner has resigned from his roles as interim chief financial officer and chief strategy officer.

By Peter J. Brennan June 14, 2017 11:09 a.m. share »
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Irvine’s Smartlabs Acquired

Irvine-based Smartlabs Inc. was acquired by Richmond Capital Partners, a private investment firm based in Seattle. Terms weren’t disclosed.

By Peter J. Brennan June 13, 2017 1:59 p.m. share »
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PIMCO President to Retire; Co-COOs Named

Pacific Investment Management Co. LLC in Newport Beach said President Jay Jacobs would retire effective Sept. 30 and that two of its executives would be promoted to co-chief operating officer.

By Paul Hughes, Peter J. Brennan June 13, 2017 11:25 a.m. share »
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New United Way Head Tapped

Irvine-based Orange County United Way announced the appointment of Susan Parks as president and chief executive, effective June 19 to replace Max Gardner.

By Deirdre Newman June 12, 2017 4:53 p.m. share »
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Conexant in $342M Deal

Chipmaker Conexant Systems LLC in Irvine agreed to be acquired by Synaptics Inc. for about $342 million.

June 12, 2017 2:59 p.m. share »
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Allergan To Buy Implant Maker

Allergan PLC will buy Stuart-Fla.-based Keller Medical Inc. in Stuart, Fla., which makes a breast implant insertion device that reduces surgeon and patient contact during surgeries.

By Sherry Hsieh June 8, 2017 11:44 a.m. share »
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Activist Investor Wins

Engaged Capital LLC of Newport Beach won its proxy battle against Rent-A-Center Inc. by gaining three seats on its board of directors.

By Peter J. Brennan June 8, 2017 9:59 a.m. share »
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NB Cybersecurity Startup Gets $9.5M

Newport Beach start-up Obsidian Security has raised $9.5 million in Series A funding led by Silicon Valley venture capitalist Greylock Partners.

By Chris Casacchia June 8, 2017 7 a.m. share »
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Stearns Buys Georgia Lender

Santa Ana-based mortgage lender Stearns Lending LLC said it acquired the wholesale, nondelegated correspondent and consumer-direct lending businesses of Primary Capital Mortgage LLC.

By Peter J. Brennan June 6, 2017 3:17 p.m. share »
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Del Taco Gets New CEO

Del Taco Restaurants Inc. in Lake Forest named John Cappasola Jr. chief executive to succeed Paul Murphy, effective July 7.

By Paul Hughes June 6, 2017 3:15 p.m. share »