OCBJ SPECIAL REPORTS
Consolidation among insurance brokerages continues at a pace that had a recent Deloitte report identifying “serial acquisitions” as the “core driver of brokerage growth.” The Business Journal’s Jane Yu asked Orange County brokerage executives to share their thoughts about the consolidation trend. They discuss some key factors that are contributing to the mergers and acquisitions activity, such as low interest rates and increasingly complex regulations, as well as risks that come with the changes. Here are edited excerpts of their responses.
Biggest Firms Combine For $570M, Up 13%
Orange County’s insurance brokers grew for the fifth straight year, notching a 13% increase in combined revenue last year.
Midsize Companies Make Up Nearly Half of Total, Take in $2.4B
The 71 fastest-growing private companies in Orange County with revenues between $10 million and $99.9 million combined to grow their top line by 84% over two years for an estimated $2.4 billion.
65 Combine for 94% Gain on Revenue
The 65 companies featured on this week’s list of fastest-growing small private companies based in Orange County can claim a big achievement on a collective basis: They’ve combined to nearly double revenue over the past two years to an estimated $310 million.
Any Number Could Follow Glaukos’ Path
Orange County has its share of private medical device and drug companies that could eventually become initial public offering candidates within the next couple of years.
35 Biggest Employed 16,629, Up By 316
The largest medical device makers based in Orange County or with large operations here held serve on the jobs front over the past 12 months.
Allergan, Which Cut The Most, Still No. 1 On List
Orange County’s top 10 drugmakers lost jobs during the past 12 months, primarily because of the acquisition and reorganization of longtime market leader Allergan PLC, previously Allergan Inc.
Free Program One of Batch Designed for the Young Set
Ten-year-old Dillon had a dream: to learn to play the guitar. At least that’s what he said in the application video he sent in to be considered for Casa Romantica’s free Music Festival and Academy.
Combined to Donate $145M, Increased OC Giving 22.8%
Private foundations based in Orange County spent more money in their own backyard last year as they trimmed their overall giving.
36 Active in OC Donate $1.2B, $21M+ of it Local
Corporate foundations active in Orange County marked their fifth year of yearly increases in total cash contributions and cash contributions to OC charities.
The Orange County School of the Arts in Santa Ana celebrated the grand opening of its 60,000-square-foot dance, music and science center on Aug. 16 with more than 600 Orange County community and business leaders.
Much of Play Devoted To Blizzard’s Game Fare
Irvine-based Blizzard Entertainment Inc. and Kingston Technology Inc. in Fountain Valley are at the forefront of one of the hottest trends in the technology industry that’s attracting stadium-size crowds to venues across the globe and millions of online viewers.
18 Biggest Companies Add Just Nine Employees
Employment at the county’s largest contract electronics makers was flat over the past 12 months, despite steady sales growth in the industry worldwide.
Various Alternatives Can Riff Off Local Hotels
Corporate meetings are commonly held at hotels and resorts, but independent OC event spaces with no formal ties to hotels have opened this year or increased efforts to offer a change of scenery for out-of-town guests or to tap local businesses that aren’t looking for an overnight stay.