FINANCE

Chao Family Gives UCI $5M

UC Irvine Health’s Chao Family Comprehensive Cancer Center said two new leukemia endowed research chairs would be named through a $5 million gift from the Chao family.

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Tustin Aerospace Co. Buys Competitor

Elite Aerospace Group in Tustin acquired Halo Industries Inc. on undisclosed terms.

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Mesa Verde Tees Up $7.3M Upgrade

Mesa Verde Country Club in Costa Mesa is getting a makeover.

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Four OC RIAs Make U.S. List

Four Orange County-based firms made the Financial Times’ fourth annual list of the top 300 registered investment advisers in the United States.

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Alliant Names CFO for Unit

Newport Beach-based Alliant Insurance Services Inc. appointed Reshma Dalia as chief financial officer of its recently formed Alliant Specialty Group.

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Chapman Sees Lower OC Job Growth

Job growth in Orange County will slow this year to an estimated 1.5%, the slowest since the economic recovery began in 2009, according to Chapman University’s annual economic forecast.

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Cookware Manufacturer Sold

Connerton Company Inc., a Santa Ana-based manufacturer of cooking equipment for the foodservice industry, was bought by Genkraft Technologies of Long Beach on undisclosed terms.

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Acorn Cracks WSJ Top 25

Irvine’s Acorn Grows Inc. ranked No. 22 on the Wall Street Journal’s list of “Top 25 Tech Companies to Watch.”

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OC Unemployment 3.2%

Orange County’s unadjusted unemployment rate dropped to 3.2% in May from a revised 3.3% in April and below the 3.7% reported for the same period last year, the state Employment Development Department said.

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Fight Club OC Sold

New York-based Alliance MMA Inc. has acquired Fight Club OC and other entities under the banner of Roy Englebrecht Promotions in Costa Mesa on undisclosed terms.

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Carpet Manufacturer Closes Doors

Royalty Carpet Mills Inc., a longtime area carpet manufacturer based in Irvine, has closed, as have several affiliated companies.

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NB Manufacturer a Crowdfunded First on NASDAQ

Shares of Newport Beach-based ADOMANI Inc. surged this morning on its debut on the NASDAQ Capital Market after becoming the first equity crowdfunded company to list on the tech heavy exchange.

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HCP in $26M Building Buy

An affiliate of Irvine-based HCP Inc. bought the two-building Scripps Wateridge Corporate Center office campus in Sorrento Mesa, a neighborhood in northwestern San Diego County, for $26.1 million, according to CoStar Group and public data.

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First Foundation Buys Bank

Irvine-based First Foundation Inc. said it purchased Community 1st Bancorp for $50.4 million in stock to increase its presence in the Sacramento region.

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Kellogg Leaving La Palma

Michigan-based Kellogg Co. is shuttering its distribution center in La Palma and cutting 280 jobs there, according to a Worker Adjustment and Retraining Notification the cereal and snack giant filed with the state Employment Development Department.

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Bank Interim CFO Quits

Santa Ana-based Banc of California Inc. said J. Francisco A. Turner has resigned from his roles as interim chief financial officer and chief strategy officer.

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Irvine’s Smartlabs Acquired

Irvine-based Smartlabs Inc. was acquired by Richmond Capital Partners, a private investment firm based in Seattle. Terms weren’t disclosed.

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PIMCO President to Retire; Co-COOs Named

Pacific Investment Management Co. LLC in Newport Beach said President Jay Jacobs would retire effective Sept. 30 and that two of its executives would be promoted to co-chief operating officer.

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New United Way Head Tapped

Irvine-based Orange County United Way announced the appointment of Susan Parks as president and chief executive, effective June 19 to replace Max Gardner.

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Conexant in $342M Deal

Chipmaker Conexant Systems LLC in Irvine agreed to be acquired by Synaptics Inc. for about $342 million.

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Allergan To Buy Implant Maker

Allergan PLC will buy Stuart-Fla.-based Keller Medical Inc. in Stuart, Fla., which makes a breast implant insertion device that reduces surgeon and patient contact during surgeries.

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Activist Investor Wins

Engaged Capital LLC of Newport Beach won its proxy battle against Rent-A-Center Inc. by gaining three seats on its board of directors.

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NB Cybersecurity Startup Gets $9.5M

Newport Beach start-up Obsidian Security has raised $9.5 million in Series A funding led by Silicon Valley venture capitalist Greylock Partners.

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Stearns Buys Georgia Lender

Santa Ana-based mortgage lender Stearns Lending LLC said it acquired the wholesale, nondelegated correspondent and consumer-direct lending businesses of Primary Capital Mortgage LLC.

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Del Taco Gets New CEO

Del Taco Restaurants Inc. in Lake Forest named John Cappasola Jr. chief executive to succeed Paul Murphy, effective July 7.

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