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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Toba Backs SF Software Firm

Newport Beach-based Toba Capital took a main role in a $10 million initial funding round for a San Francisco company called Restless Bandit, a specialist in human resources software.

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Consultancy Names Interim CEO

Irvine-based Resources Connection, Inc. named Kate Duchene interim chief executive after the unexpected retirement of Tony Cherbak due to health issues.

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OC’s Wealthiest Make Forbes 400

Eight members of the Business Journal’s annual OC’s Wealthiest list made this year’s Forbes 400 list, which ranks the wealthiest Americans by estimated net worth.

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Windjammer Buys SA Manufacturer

Newport Beach-based Windjammer Capital Investors acquired on undisclosed terms Mission Critical Electronics Inc. in Santa Ana.

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Irvine Lender’s First Marketing Head

Quick Bridge Funding in Irvine named Lisa Reickerd its first marketing director.

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FAO Schwartz Brand to Irvine Outfit

Irvine-based ThreeSixty Group Inc. acquired the FAO Schwarz brand from Toys ‘R’ Us Inc. in Wayne, N.J on undisclosed terms.

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CSUF Receives STEM Grant

California State University-Fullerton received a $5.8 million grant from the U.S. Department of Education for a five-year project in partnership with eight community colleges to increase the number of Hispanic and low-income transfer students who complete bachelor’s degrees in science, technology, engineering and mathematics and get jobs in these fields.

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REIT in $25M Buildings Buy

Griffin-American Healthcare REIT IV Inc. in Irvine bought two medical office buildings, one each in Michigan and Alabama, for a combined $25 million.

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Grosses Give OCC $240K for Training

The Orange Coast College Foundation received $240,000 from PIMCO cofounder Bill Gross and his wife, Sue, to establish a “Sue and Bill Gross Scholars” program, which will support students pursuing vocational and technical education.

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DeCero to Head Merged Bank

Former President of California Republic Bank John DeCero was named the new chief executive of Mechanics Bank in Walnut Creek, Calif.

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First Foundation Buys Branches

Irvine-based First Foundation Inc. has agreed to acquire two Pacific Western Bank branches, located in Laguna Hills and Seal Beach.

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Alliant Acquires in Portland

Newport Beach-based Alliant Insurance Services acquired on undisclosed terms the Hecht Group in Portland, Ore.

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AlliedUniversal Adds N.Y. Firm

Santa Ana-based Allied Universal has acquired on undisclosed terms FJC Security Services in Floral Park, N.Y.

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Nutrients Maker to Chicago PE Firm

Orange-based Merical Inc. has been acquired on undisclosed terms by private-equity firm Linden Capital Partners LLC in Chicago.

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Janus in Deal With London Firm

It looks as though Orange County’s “Bond King” will have a new employer.

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Kiani Co-Leads $24M Investment

Masimo Corp. Chief Executive Joe Kiani co-led a $24 million equity investment in Stereotaxis Inc. that could be worth as much as $50 million.

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Opus Bank to Sponsor Pac-12

Opus Bank in Irvine was named official bank of the Pac-12 Conference and sponsor of Pac-12 Networks.

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PacLife Names CFO

Pacific Life Insurance Co. in Newport Beach named Darryl Button as chief financial officer effective March 2017.

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Frost Data Gets Healthcare Partner

Frost Data Capital in San Juan Capistrano will work with DST Systems Inc. in Kansas City, Mo., on big data analysis for healthcare companies.

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Ensign Group Exits Urgent Care

Ensign Group Inc. in Mission Viejo plans to sell 16 urgent care facilities that are open or in development in the Seattle market to MultiCare Health System in Tacoma, Wash.

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Allergan Study: 1,563 OC Jobs, $307M Payroll

Allergan Plc’s local operations provide 1,563 jobs here with a combined payroll of about $307 million, based on the company’s average salary statewide, an economic impact study said.

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Carrick Capital Buys in Philadelphia

Carrick Capital Partners in Newport Beach has invested $50 million in InstaMed in Philadelphia.

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OCTANe, OC Tech Group to Merge

OCTANe in Aliso Viejo will merge with Orange County Technology Alliance in Mission Viejo.

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New CFO at Banc of California

Irvine-based Banc of California named J. Francisco Turner co-Principal Financial Officer, effective immediately.

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Greenwave Buys Predixion

Irvine-based smart technology provider Greenwave Systems Inc. bought Predixion Software in Aliso Viejo on undisclosed terms.