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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Pet Gear Maker Sold

Costa Mesa-based Precision Pet Products has been sold on undisclosed terms to Petmate in Arlington, Texas.

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Confie Buys In NY

Huntington Beach-based insurance provider Confie acquired on undisclosed terms two insurance brokerages in New York: Lloyd D. Sprague & Son, Inc. and J.N. Mason Agency, Inc.

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WD Ups Targets, Promotes New CFO

Western Digital Corp. today raised its guidance for the current quarter and initiated an executive change.

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Bravo Buys Skateboard Co.

Bravo Sports Corp. in Santa Fe Springs bought Sector 9 in La Jolla on undisclosed terms.

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NextVR Raises $20M

Laguna Beach-based virtual reality content maker NextVR Inc. has raised $20 million from CITIC Guoan Information Industry, a state-owned investment firm in China.

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$3M, More Mission for UCI Institute

University of California-Irvine’s Long Institute has received close to $3 million from the Long Family Foundation to expand interdisciplinary China research.

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Drybar Sells Stake to Atlanta PE Firm

Drybar Holdings LLC in Irvine sold a minority stake to Roark Capital Group, an Atlanta-based private equity firm, for an undisclosed amount.

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JWA Traffic Up in May

John Wayne Airport had nearly 950,000 passengers in May—up 13% compared with the same month last year, when about 840,000 passengers passed through its gates.

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Concert Golf Buys Wichita Club

Concert Golf Partners in Newport Beach bought Crestview Country Club in Wichita, Kan., on undisclosed terms.

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Ingram Slashes Jobs in Texas

Irvine-based Ingram Micro Inc. is cutting more than 900 workers at a wireless device repair and distribution center in Fort Worth, Texas.

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China-Based Hotel Buyer in GG Resort Deal

SCG America has been named to develop the Grove District Hotel Resort Development, a stalled 5-acre resort with up to 769 rooms and 39,000 square feet of meeting space in Garden Grove, a press release said.

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Kodiak to Buy Into OC Brewery

Kodiak Capital Group LLC in Newport Beach has agreed to buy up to $1 million in common stock of Evans Brewing Co. in Irvine.

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Chapman: Slower Growth Ahead for OC

A report released this afternoon by Chapman University in Orange indicates a softening of economic and employment growth in Orange County.

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UCI, Harvard Renew Partnership

University of California- Irvine said today it and the Harvard Pilgrim Health Care Institute will receive up to $6.7 million in renewed federal funding to help improve patient safety in healthcare settings.

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Knott’s Eyes Land for Parking

Knott’s Berry Farm in Buena Park plans to buy 1.1 acres for $250,000 as part of a $5 million expansion of its Soak City water park by May 2017.

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Microsemi Invests in SJC Startup

Microsemi Corp. invested in Veracity Security Intelligence.

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NB Biotech Gets $7.5M

Newport Beach-based Blueprint Bio Inc. has received $7.5 million in Series A funding.

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Incipio Bids $177M for Skullcandy

Incipio LLC, an Irvine-based maker of cell phone cases and other mobile device accessories, has bid $177M for Skullcandy Inc.

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PHG in Deals for AC Irvine, Tempe

An affiliate of Irvine’s Pacific Hospitality Group is in deals for two AC Hotels—a 176-room property currently under construction at the Park Place mixed-use campus near John Wayne Airport and a recently opened location in Tempe, Ariz.—from Woodbine Development Corp. and USAA.

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Irvine Bank Joins Russell 2000 Index

Irvine-based bank First Foundation Inc. will become part of the Russell 2000 Index on Monday morning.

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AG Grants Conditional Consent to Providence-St. Joseph Combination

California Attorney General Kamala Harris has conditionally consented to Irvine-based St. Joseph Health’s proposed affiliation with Providence Health and Services.

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Pieology Buys Competitor

Rancho Santa Margarita-based Pieology Pizzeria bought competitor Carlsbad-based Project Pie.

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Verizon to Buy Telogis

Verizon Communications Inc. will buy Aliso Viejo-based Telogis Inc. on undisclosed terms.

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Irvine Software Maker Sold

Irvine-based data management software maker Vision Solutions Inc. has been sold to private equity firm Clearlake Capital Group L.P. in Santa Monica.

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SurfStitch Trims in Irvine

Australia-based SurfStitch Group Ltd. said it plans to eliminate 40 positions at Irvine-based subsidiary SurfStitch USA Inc.