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...
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OC Hotel Sales Up, Prices Down

The number of hotels sold in the first half of 2016 increased 27% but total dollar value of those sales fell 83%, a report by Atlas Hospitality Group said.

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Puerto Rico Manufacturer Buys in Costa Mesa

Costa Mesa-based Mocean Holding Company LLC has been acquired on undisclosed terms by SNC Technical Services in Puerto Rico.

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Irvine Translation Firm Acquired

Welocalize Inc. acquired Irvine-based Global Language Solutions on undisclosed terms.

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OCTANe Q2 Funding Up Big

Aliso Viejo-based OCTANe announced Monday that startups that completed its LaunchPad accelerator raised nearly $75 million in the second quarter, according to Chief Executive Bill Carpou.

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Healthcare Group Starts $150M Fund

Innovation Institute in La Palma will raise $150 million to invest in early-stage healthcare companies. It bought TriStar Health Partners LLC in Nashville to be the fund investment manager.

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Hotel Menage to Rebrand as Sheraton

The Hotel Menage in Anaheim plans to rebrand as a Four Points by Sheraton, industry sources said.

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ASICS Americas Sales Down

ASICS America Corp.’s sales in the first half of its fiscal 2016 declined 17.3% compared to the same period last year, according to its parent, Japan-based Asics Corp.

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Allergan to Buy Glaucoma Co. for $95M

Allergan Plc plans to buy ForSight Vision5 for $95 million and milestone payments.

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REIT in First of Three Development Deals

CareTrust REIT Inc. in San Clemente invested $2.2 million in a company that’s developing a new healthcare facility CareTrust plans to own.

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Disney Parks Earnings Up

Walt Disney Co. in Burbank earned $2.6 billion on revenue of $14.3 billion in its most recent quarter, up from $2.5 billion on $13.1 billion for the same period last year.

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Private Equity Firm Sells Dairy

Marwit Capital in Newport Beach has sold on undisclosed terms its Driftwood Dairy Inc. to Vietnam Dairy Products Corp.

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Microsemi Name for Rams' UCI Field

Aliso Viejo-based chipmaker Microsemi Corp. has taken naming rights of the Los Angeles Rams practice facility at University of California-Irvine.

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NextVR Completes $80M Funding

Laguna Beach-based virtual reality content maker NextVR Inc. said it has completed an $80 million round of funding, led by a syndicate of Asian technology companies.

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Device Maker Names Boss

ReShape Medical Inc. in San Clemente named Mike Mangano its president and chief executive.

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Chicago Buyer for SJC Medical Supplier

Pacific Medical LLC in San Juan Capistrano was bought by Jordan Health Products in Chicago on undisclosed terms.

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Mobile Accessories Maker Buys Again

Incipio Group in Irvine acquired Nashville-based competitor Griffin Technology on undisclosed terms.

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Autobytel Q2 Sales Up 19%

Autobytel Inc. in Irvine beat Wall Street expectations for revenue for its second quarter that ended June 30.

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Herbert Matriarch Gives $5M to UCI

Josephine Herbert Gleis has pledged another $5 million to the Gavin Herbert Eye Institute at University of California-Irvine, bringing her total support of its efforts to $19 million since 2007.

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Skullcandy Touts Incipio’s Bigger Bid

Incipio LLC upped its offer to buy Skullcandy Inc. from $5.75 per share to $6.10 per share, or approximately $188.6 million, according to the Irvine-based maker of cellphone cases and other mobile device accessories.

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VC Investments Rebound in Q2

Venture capital investors plunked down more than $229 million for Orange County high-tech companies in the second quarter, according to a report issued Tuesday by the Irvine office of real estate brokerage JLL.

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OCTANe in Med Device Pact

Aliso Viejo-based OCTANe and the Boston-based Massachusetts Medical Device Industry Council will work together to build awareness of emerging med-tech companies for investors in Orange County and Boston.

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Pyott, Kiani in $13M Investment

David Pyott and Joe Kiani were part of a $13M Series A funding round for Bioniz Therapeutics Inc. in Irvine and both joined its board, with Pyott being named chairman.

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Emerald Buys Tennessee Shows

Emerald Expositions LLC in San Juan Capistrano acquired the International Gift Exposition in the Smokies from M&M Gift Shows in Toledo, Ohio.

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Smoothie Products Maker Sold

Fullerton-based Dr. Smoothie Brands has been acquired on undisclosed terms by Bevolution Group in Chicago.

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Office Products Supplier Buys Again

Office Solutions Business Products & Services LLC in Yorba Linda acquired on undisclosed terms the business services division of Irvine-based Newport Stationers.