Orange County Business Journal

FINANCE

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

Irvine-based Habit Restaurants Inc. plans to open its first restaurant in Florida on June 24 in Delray Beach.

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Anna’s Linens Files for Chapter 11

Anna’s Linens Inc. in Costa Mesa filed for Chapter 11 bankruptcy protection on June 14 with the U.S. Bankruptcy Court, Central District of California.

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Standard Pacific to Combine with Ryland in $5.2B Deal

Irvine-based Standard Pacific Corp. said it would combine with Westlake Village-based Ryland Group Inc. in a deal valued at $5.2 billion, which news reports said would create the fourth-largest homebuilder in the U.S.

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Glaukos Sets IPO Terms

Laguna Hills-based device maker Glaukos Corp. has officially opened its upcoming initial public offering, according to a federal filing.

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Advantage Buy Expands Global Reach

Advantage Sales and Marketing LLC said it has made an investment in Smollan Group in Johannesburg, South Africa, on undisclosed terms.

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El Pollo Loco Plans Six More in Utah

Costa Mesa-based El Pollo Loco Holdings Inc.’s signed its system’s largest franchisee to open six restaurants in Utah by 2018.

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NuGene Disavows Stock Mailer

Shares in Irvine-based NuGene International Inc. fell 39% Thursday to $2.61 and a market capitalization of $103 million after the skincare products development company said yesterday that it had no affiliation with a 28-page mailer touting the stock, but the stock recovered some ground Friday morning.

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Tech Hub Plans 100 Internships

Irvine-based technology non-profit The Portal plans to create 100 internships this year for college students to work in local startups and other businesses.

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$20.1M for Garden Grove Manufacturer

Pacific Wave Systems, Inc. a microwave component manufacturer in Garden Grove, fetched $20.1 million in a sale to Canada-based telecom systems manufacturer COM DEV International Ltd.

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Quiksilver Down on Quarterly

Shares of Quiksilver Inc. fell 38% to 77 cents and a market value of $131 million Tuesday, after it reported a dip in revenue for the second quarter and pulled guidance for the rest of fiscal 2015.

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Incipio Adds Tablet Keyboard Case Maker

Incipio Technologies Inc. in Irvine has acquired ClamCase LLC, a Michigan-based designer and manufacturer of keyboard cases for the iPad family of tablets.

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Anna’s Linens Said to be Near BK

Costa Mesa-based Anna’s Linens Inc. is preparing to file for bankruptcy, the Wall Street Journal reported.

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Opus COO Exits

Opus Bank’s chief operating office has resigned after about two years working at the Irvine-based bank.

Vans to Put Brand on South Coast Metro

REAL ESTATE: 180,000-SF office comes with 15 extra acres

An affiliate of apparel company Vans Inc. is under contract to buy the 1588 South Coast Drive office building in Costa Mesa.

Nicholas: Broadcom Sale Ticket to ‘Next Level’

TECHNOLOGY: Lauds Avago boss Tan, eyes Intel’s crown

Broadcom Corp. cofounder Henry Nicholas has high hopes for the chipmaker as it heads toward the new leadership and financial muscle expected to come with a proposed $37 billion sale to Avago Technologies Ltd.

PE Firms Establish Niches in Quest for Portfolio Growth

At least 8 Active OC Firms Chart Their Own Courses

Orange County’s private equity scene covers a wide range of industries and market segments, a reflection of the diversity in characteristics and specialties of the investment firms here.

More Deals, Smaller Checks on Local VC Landscape

100% Hike in Dollar Volume, 60% Increase Last Year

The biggest venture capital firms in Orange County continued to increase their investments in local companies, though the pace of growth slowed compared with a year earlier.

Register, Others Look to Fill PennySaver Void

MEDIA: Former workforce, advertisers up for grabs

Competitors are extending welcome mats to clients once loyal to PennySaver USA LLC and its former sales staff, as the free Brea-based weekly ad publication wraps up its fate in bankruptcy court.

Quiksilver Director Out, Cites Exclusion

A director of Huntington Beach-based Quiksilver Inc. resigned from the apparel maker and retailer’s board, contending she was excluded from the body’s decision making.

Ex-Allergan Exec to Cannabis Drug Firm

Douglas Ingram, former president of drugmaker Allergan Inc., joined the board of Costa Mesa-based startup Nemus Bioscience Inc. in the newly created role of vice chairman.

Apparel Maker Bought by Korean Firm

Fountain Valley-based skate apparel and footwear maker One Distribution was acquired by K-Swiss Global Brands on undisclosed terms.

Boot Barn to Acquire Kansas Retailer

Boot Barn Holdings Inc. announced an agreement to buy western apparel and footwear retailer Sheplers Inc. for $147 million.

Kingston Technology Sells Unit in China

Fountain Valley-based Kingston Technology Co. sold a subsidiary to Shenzhen Kaifa Technology Co. in China.

Coastal Homes Get Close to List Prices in Recent Deals

Corona del Mar Sales Have Best Showing in 90 Days

A number of sales in Orange County’s coastal communities over the past 90 days nearly met the homes’ actual list prices, according to Realtor.com and Redfin data.