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...

ADDENDUM -- Week of March 31

The Defense Advanced Research Projects Agency in Arlington, Va., awarded Boeing Co.’s operations in Huntington Beach a $30.7 million contract to support development of a system to use aircraft for satellite launches at a cost savings compared to rocket-fueled launches.

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Report: El Pollo Loco Eyeing IPO

The owners of Costa Mesa-based El Pollo Loco Holdings Inc. are looking to take the company public, according to a report from the Wall Street Journal.

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Pac Merc Adds Silicon Valley Vet

Costa Mesa-based Pacific Mercantile Bancorp has named former Silicon Valley Bank executive Tom Wagner as manager of the northern division of its Pacific Mercantile Bank subsidiary.

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Miven Portfolio Company Goes Public

A company in the portfolio of Newport Beach-based entrepreneurs Victor and Janie Tsao remained slightly above its initial price of $15 per share today, with a market value of about $156 million.

Wall Street Backer for Cruttenden’s Main Street Micro-Investing App

FINANCE: Looks to link mass market, money managers

Walter Cruttenden, an investment banking pioneer in Orange County, has secured $5.5 million in funding from a Wall Street fund manager to bring his latest business venture to market.

Device Designer to Stay Local Under New Owner

HEALTHCARE: Sees benefit in Illinois company’s size

An Irvine design and engineering firm that develops products for medical device and biotech companies has been sold to a larger competitor.

UK Device Maker Eyes Offering Here

HEALTHCARE: Lombard’s US operations in Irvine

A British medical device maker that has its U.S. headquarters in Irvine is seeking its fortune in the U.S.

Acacia Bruised in Past Year But Expects Rebound

TECHNOLOGY: Rugged run wiped out 45% of market value

Three straight disappointing quarters for Acacia Research Corp. has zapped 45% of the company’s market value, leaving it at $789 million as of late last week, but executives say they’re confident it will bounce back through pending patent lawsuits.

Startup Raises $4.5M in 1st Round

Irvine startup Bitvore Corp., which mines information from email, social media and websites for business customers, closed a $4.5 million inaugural fundraising round.

5 Entrepreneurs Honored for Excellence

Members of the Orange County business community celebrated five winners of the Business Journal’s 13th Annual Excellence in Entrepreneurship Awards last week.

ADDENDUM - March 24

Irvine-based Motorcycle Industry Council hired Erik Pritchard as its general counsel. The appointment was effective immediately and fills a spot left open by the departure of Paul Vitrano, who recently joined snowmobile and ATV maker Polaris Industries as vice president for global government relations.

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Device Maker Presbia Files for IPO

Irvine-based eye device maker Presbia PLC on Thursday filed a registration statement with the Securities and Exchange Commission to offer $90 million in common stock.

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Device Maker Presbia Files for IPO

Irvine-based eye device maker Presbia PLC today filed a registration statement with the Securities and Exchange Commission to offer $90 million in common stock.

St. Joe’s Cuts Reflect New Dynamics for OC Hospitals

HEALTHCARE: Some service shifts to CHOC, Hoag Irvine

Recent layoffs at one of Orange County’s bigger hospitals appear to be a reaction to a number of changes in the local hospital landscape.

Gores Group Backs Device Maker’s Buy

HEALTHCARE: San Clemente company buys in Slovenia

A San Clemente-based medical laser maker has reached into Eastern Europe with help from a private equity firm in Los Angeles.

Irvine Medical Device Maker Seeks IPO

Lombard Medical Inc., a British medical device maker with U.S. headquarters in Irvine, filed a registration statement with the Securities and Exchange Commission for an $80 million initial public offering on the Nasdaq exchange.

ADDENDUM

Min Kun Kim, who most recently served as chief executive coordinator at Kia Motors America Inc.’s headquarters in Irvine, was promoted to president and chief executive of Kia Canada Inc.

PHILANTHROPY

“Mentorship is one of the single most important gifts you can give to youth, especially those facing adversity,” says Melissa Beck, chief executive of Big Brothers Big Sisters of Orange County.

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Opus Bank Files for IPO

The largest bank based in Orange County’s has filed documents with the Federal Deposit Insurance Corporation for an initial public offering.

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Standard Pacific CEO Stowell Joins Pacific Mutual Board

Scott Stowell, chief executive officer and president of Irvine-based homebuilder Standard Pacific Corp., has been named to the board of Newport Beach’s Pacific Mutual Holding Co., the ultimate parent company of Pacific Life Insurance Co.

Stearns Tops U.S. Market Share for Wholesale Residential Loans

Santa Ana-based Stearns Lending Inc. was ranked No. 1 wholesale residential lender for 2013 by Inside Mortgage Finance Publications Inc. in Bethesda, Md.

Top Minority-Owned Businesses Reach $12.8B in Revenue

ECONOMY: 5.5% increase in sales; 2.2% gain on OC jobs

The biggest minority-owned businesses based in Orange County combined for $12.8 billion in revenue last year, a 5.5% increase from a year earlier.

Costa Mesa Firm’s Route to Hollywood Runs SXSW

Hotel Conference Producers Take Bow at Austin Film Festival

There’s no business like show business, suggests the popular tune by Irving Berlin.

Pacifica’s Play: Stay at Beach, Add Services

HOSPITALITY: Hotel operator looks to grow management services

Investing in coastal properties has been a no-brainer for Pacifica Hotels ever since 1993, when it got started in Santa Barbara as the hotel investment and management wing of private equity firm Invest West Financial Corp.

Thumbs Up, ‘Hands Down’ for New Merage School Dean

Eric Spangenberg must be feeling plenty flattered over the recruiting job done by UCI to land him as dean for its Paul Merage School of Business.