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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Busch Family Gives $15M

The Busch Family Foundation in Irvine gave $15 million to Catholic University of America, news reports said.

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SJC Company Buys in Europe

San Juan Capistrano-based toilet component maker Fluidmaster, Inc. acquired on undisclosed terms WISA BV, a restroom components designer and maker in the Netherlands.

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Santa Margarita Toyota Sold

Jim Graham, owner of Santa Margarita Ford, acquired Santa Margarita Toyota from John Dinsmore.

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Unemployment Unchanged

Orange County added 8,800 jobs in March to maintain a 4% unemployment rate.

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Stone Firm Enters Two States

Anaheim-based Bedrosians bought Oregon Tile & Marble, in Medford, Ore.

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Anaheim Food Co. Names CEO

Anaheim-based food maker Nellson Nutraceutical named Jamie Better its Chief Executive.

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Opus Makes $104M Buy

Irvine-based Opus Bank bought PENSCO Trust Company, an IRA services firm in San Francisco, in a cash and stock deal worth about $104 million.

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Johnny Rockets in Rebranding

Johnny Rockets Restaurant Group plans to recast the retro burger chain for a changing customer base.

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Appraiser Buys in Reno

Orange-based real estate appraisal company LRES acquired InsideValuation, a commercial and residential appraisal company in Reno, Nevada, on undisclosed terms.

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Textile Maker Sold to Ohio PE Firm

Irvine-based textile supplier Momentum Group has been acquired on undisclosed terms by private equity company the Riverside Company, which is headquartered in Cleveland, Ohio.

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CoreLogic Names New CFO

Irvine-based CoreLogic Inc. said James Balas is its new Chief Financial Officer.

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RSM Data Firm Raises $6.7M

Rancho Santa Margarita data analytics software maker Compellon has raised $6.7 million in a Series A funding round.

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UCI Gets Grant for Physics Majors

The National Science Foundation has awarded approximately $1 million to the University of California-Irvine for research to discern the best ways to support low-income students who want to major in physics and for scholarships for these students.

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Golden State Buys Out KanPak

Golden State Foods bought the portions of two companies it has held controlling interests in since 2013.

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PacSun Files BK

Pacific Sunwear of California Inc. in Anaheim filed for bankruptcy protection and said it will convert debt into equity for creditor Golden Gate Capital.

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NB Accounting Firm Makes Buy

Newport Beach–based accounting firm Anton & Chia LLP has acquired the U.S.-reporting clients of McCormack Su & Company in Vancouver, Canada.

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Allergan Still on Hunt for Deals

Allergan PLC Chief Executive Brent Saunders said today that the drug maker will continue to seek “growth pharma” deals—including possible acquisitions that would complement its Irvine hub for Botox, ophthalmology and medical aesthetics—after the termination of its $160 billion mega-deal with Pfizer Inc.

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PacSun to File for Bankruptcy

Pacific Sunwear of California Inc. is preparing to file for bankruptcy next week, according to news reports.

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Edwards Surges on Valve Trial

Irvine-based Edwards Lifesciences Corp.’s shares shot up today after it reported positive results on a pair of less-invasive replacement heart valve clinical trials.

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Banc of California Names New CAO

Irvine-based Banc of California, Inc. promoted Thedora Nickel to Chief Administrative Officer from executive vice president of operations.

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Confie Buys in Massachusetts

Huntington Beach-based insurer Confie has entered the Massachusetts market with the acquisition of Axiom Insurance Agency in Springfield.

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Alliant Buys Agency in Spokane

Newport Beach-based Alliant Insurance Services has acquired Andre-Romberg Insurance Agency in Spokane, Wash.

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Engineering Firm Purchased for $7M

Irvine-based Excalibur Engineering, Inc. was acquired April 1 by Transcat Inc. in Rochester, New York, for $7.35 million in cash.

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OC-Based Bank Joins S&P Index

Irvine-based Banc of California has been added to the S&P SmallCap 600 Index.

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Mazzo Asks Judge for Stay in Case

Longtime Orange County medical device executive James V. Mazzo has asked a judge for a stay in his federal insider trading case, according to court papers.