Orange County Business Journal

FINANCE

Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...

Beat Goes On

Union Bank Treasury Exec Takes Bold Approach

Susan Beat points to boldness as a constant character trait that helped set her apart as she advanced in banking.

June Gloom Absent from Luxury Coastal Home Sales

14 $4M-Plus Sales Close In Month’s First 2 Weeks

June got off to an auspicious start with 14 luxury home sales over $4 million in the first two weeks of the month.

Masimo Gets European Approval of Portable Oximeter

MightySat Rx Device Unavailable in US

Masimo Corp. ended June on a regulatory roll.

R.D. Olson’s Development Arm to Newport Beach

Relocation from Irvine to 520 Newport Center Tower

Hotel developer R.D. Olson Development is moving its offices to Newport Beach and closer to one of its biggest projects on tap.

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Alliant Buys in N.Y.

Newport Beach-based Alliant Insurance Services Inc. has acquired Preferred Concepts LLC, a New York-based wholesale broker and underwriter that specializes in real estate insurance.

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Distressed RE Specialist Gets $20M Investment

Newport Beach-based real estate investment trust CV Holdings Inc. has sold $20 million worth of preferred stock to Tricadia Capital Management LLC in New York.

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Newly Acquired Bond Firm to Support Gross

Janus Capital Group Inc. has acquired a majority stake in Kapstream Capital Pty Ltd, an unconstrained bond manager in Australia that also has operations in Newport Beach.

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Del Taco-Levy Combo OK’d

Lake Forest-based Del Taco Holdings Inc. will be acquired and become a public company today, after shareholders in Chicago-based Levy Acquisition Corp. voted in favor of Levy’s acquisition of the Mexican-style fast food chain.

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Disneyland Exemption, Expansion on Anaheim Agenda

Walt Disney Co. is proposing a $1 billion expansion at its Disneyland theme park in Anaheim that would include new attractions, parking and other infrastructure improvements – and it wants a tax break in exchange.

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Johnny Rockets to Poland

Aliso Viejo-based Johnny Rockets said Warsaw-based HDS Polska Group plans to open 10 Johnny Rockets over the next 10 years in Poland.

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Franchisee Switch for Johnny Rockets in UAE

A Dubai-based private equity firm bought 14 Johnny Rockets franchised restaurants in the United Arab Emirates from the franchisee group that runs them.

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RichUncles Gets $3M Loan

Newport Beach-based real estate investment trust RichUncles LLC has received a $3 million loan from Pacific Mercantile Bank in Costa Mesa.

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Cianna Medical Raises $4M

Aliso Viejo-based Cianna Medical Inc. has raised $4 million, according to a U.S. Securities and Exchange Commission filing.

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Sabra Spends $234M for Nursing Homes

Irvine-based Sabra Health Care REIT Inc. said today that it bought four nursing homes in Maryland for $234 million.

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Chapman Ups Forecast on OC Jobs

Orange County’s economy is expected to add about 47,000 jobs through this year and another 41,000 in 2016, according to an updated estimate by Chapman University’s Argyros School of Business and Economics.

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Juice It Up to Add NM Units

Irvine-based Juice It Up said Albuquerque franchisee It Takes Two LLC plans to add two locations in New Mexico.

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UCI Humanities Gets $2.7M Mellon Grant

The University of California-Irvine has received $2.7 million from the New York City-based Andrew W. Mellon Foundation to broaden access to its Ph.D. program in Humanities by providing funding for tuition and teaching fellowships.

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Hyundai Giving Final $2M Installment of Cancer Grant to CHOC

Fountain Valley-based Hyundai Motor America and its nonprofit, Hope on Wheels, will present a final $2 million installment of a $10 million research grant to Children’s Hospital of Orange County on Thursday.

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Alliant Gets New PE Investment

Alliant Insurance Services Inc. has received “a significant equity investment” from Stone Point Capital LLC, which now is the largest shareholder of the Newport Beach-based insurance brokerage firm.

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Ingram Micro Buys Two Companies

Santa Ana-based Ingram Micro Inc. has acquired two companies that add to its higher-margin and growing recycling and mobile services business.

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World Poker Tour Sells for $35M

Irvine-based WPT Enterprises Inc., which runs the World Poker Tour, has been acquired for $35 million by one of China’s largest gaming companies.

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Anna’s Linens to Liquidate Inventory

Anna’s Linens Inc. in Costa Mesa has started what it describes as a going-out-of-business sale at its 252 retail locations throughout the U.S. and Puerto Rico.

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OC Adds Jobs But Unemployment Up

The unemployment rate in Orange County ticked up in May despite an increase of 13,000 jobs.

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Ad Agency Spinoff Gets $2.15 Million

Founders of the Column Five Inc. ad agency said they have secured $2.15 million in seed money to grow their side endeavor, Visage Inc. in Irvine.

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FDA Clears Edwards Sapien 3 Valve

The Food and Drug Administration Wednesday approved Irvine-based Edwards Lifesciences Corp.’s Sapien 3 less-invasive heart valve.