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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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.

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Skullcandy Nixes Incipio Offer

Irvine-based Incipio LLC’s bid for Skullcandy Inc. was rejected by the audio equipment manufacturer’s board of directors, in favor of a “superior proposal.”

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$400M for 5.11

Compass Diversified Holdings LLC in Westport, Conn. acquired 5.11 Tactical in Irvine for $400 million.

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CM Law Firm Adds Specialty

Haynes and Boone in Costa Mesa has established an insurance recovery practice group with a new team led by Partner David Bender, Jr.

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WD Sales, Profits Down

Irvine-based Western Digital Corp. reported lower annual sales and adjusted profits.

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Irvine Fin-tech Firm Gets $7.5M

Internet-based mortgage lender cloudvirga Inc. in Irvine raised $7.5 million in Series A funding, led by Calabasas-based Dallas Capital. Santa Monica venture capital firm Upfront Ventures and angel investment club Tribeca Angels in New York participated in the round.

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Electronics Maker Makes Buy

Infinite RF Holdings Inc. in Irvine bought on undisclosed terms L-Com Inc., a maker of custom computer networking equipment in North Andover, Mass.

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Volcom Down in First 6 Months

Costa Mesa-based Volcom Inc. posted $121.8 million in revenue for the first half of 2016, a 14.9% decrease compared to the same period last year, according to Kering, its Paris-based parent.

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WD Leads VC Round

Irvine-based Western Digital Corp. co-led a $77 million funding round for a Redwood City startup with noted Silicon Valley venture capital firm Kleiner, Perkins, Caufield and Byers.

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Vizio in $2B Deal

Irvine-based Vizio Inc. has been acquired for $2 billion by LeEco, a conglomerate based in China.

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Taco Bell CEO to Harley Board

Taco Bell Chief Executive Brian Niccol has joined the board of directors at Harley-Davidson Inc., the maker of motorcycles in Milwaukee, Wis.

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Glaukos CFO to Retire in 2017

Glaukos Corp. in Laguna Hills said Chief Financial Officer Richard Harrison will retire next year.

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Unemployment Up as Labor Force Grows

Orange County’s unemployment rate was up to 4.4% in June from a revised 3.6% in May, much of the increase caused by 0.8% growth in the local labor force to 1.61 million.

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Vans Sales Jump Headlines Parent’s Quarter

Vans Inc. revenue was up 4% in July quarter, according to its Greenboro, N.C.-based parent, VF Corp.

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LA Fiduciary Adviser Invests in OC

Costa Mesa-based investment adviser New Market Wealth Management has a new equity owner in Cliffwater LLC, an investment adviser in Los Angeles.

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Ingram Sale Hits Bump

Ingram Micro Inc.’s pending $6 billion sale to Chinese conglomerate Tianjin Tianhai Investment Co. Ltd. has run into its first hurdle that could ultimately derail the deal.

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Quantum Fuel Bought

Lake Forest-based Quantum Fuel Systems Technologies Worldwide Inc. was purchased by Douglas Acquisitions LLC, an affiliate of second-position secured creditors.

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TIAA Takes Pacific City Stake

Huntington Beach’s Pacific City shopping center has seen a change in ownership.

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PIMCO Names New CEO

Pacific Investment Management Co. in Newport Beach named Emmanuel “Manny” Roman its chief executive, replacing Douglas Hodge, who will become a managing director and senior adviser to the company.

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Innovation Institute Buys IT Company

The La Palma-based Innovation Institute said today that it has acquired Corona-based information technology specialist Hospitality Business Network Solutions. A purchase price was not disclosed.

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Silicon Valley Software Maker to NB

Newport Beach-based startup Predictive Inc. has acquired a Silicon Valley software maker developing advanced learning applications.

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Opus Sells Coachella Location

Irvine-based Opus Bank agreed to sell its La Quinta branch in Coachella Valley to the Bank of Southern California headquartered in San Diego.