OCBJ WEEKLY EDITION
Industry Watchers Speculate It Could Be Ripe for Consolidation Trend
Improving fortunes in the housing market and a disciplined operating plan have provided a boost to the fortunes of William Lyon Homes Inc. during its return to the public markets.
HEALTHCARE: $211M deal trims market capitalization by 30% in day
Endologix Inc.’s bid to grow market share through a newly struck deal to acquire a competitor appears to have set investors in the Irvine-based medical device maker on edge.
TECHNOLOGY: Mobile products aimed at B2B customers
Aliso Viejo-based logistics software maker Telogis Inc. is placing a big bet on mobile apps in a new partnership with Apple Inc.
REAL ESTATE: Shanghai firm paid $137M for 653-room hotel
An affiliate of one of China’s largest construction companies has purchased the Hyatt Regency Orange County in Garden Grove for $137 million.
Banc of California Focuses on Service In SoCal for 176% Revenue Growth
Fast growth continues for Banc of California Inc.
Terra Tech Sales Up 754%, Largely On Cannabis Demand Surge
Terra Tech Corp.’s crops of basil, oregano, thyme, parsley and lettuce are a steady line of business, but the Newport Beach-based company’s newer line of products derived from another leafy green is the big growth driver.
Octane does plenty of work to stir the atmosphere and foster an environment where “entrepreneurs, investors, executives, academics, clinicians, and business advisors come together to collaborate, create, and grow.”
MARKETING: Will consolidate Philadelphia-based operation here
United Sports Brands will make its move from the Midwest to Orange County with one more brand in tow.
HOSPITALITY: $5M more for ex-Wyndham near Segerstrom
A $5 million room redo and a new brand for the former Avenue of the Arts Wyndham Hotel in Costa Mesa mark the latest upscale moves in a section of the city’s South Coast Metro district anchored by Segerstrom Center for the Arts.
MARKETING: Stylized ‘M’ honors main donors, shows flair
Music has yet to stream through the Marybelle and Sebastian P. Musco Center for the Arts, but Chapman University’s newest addition just played its first visual note—a signature-like logo that fuses outlines of the letter “M” with movements of a conductor’s baton.
HEALTHCARE: Europe rollout, Salus trial, mitral valves in plan
Medical device maker Direct Flow Medical Inc., which maintains a Lake Forest manufacturing hub, is pursuing a three-pronged plan for progress under new leadership.
Irvine-based analytics software maker Alteryx Inc. raised $85 million in a venture capital round led by Iconiq Capital in San Francisco and prior backer Insight Venture Partners in New York. Palo Alto-based Meritech Capital Partners also participated.
Quiksilver Inc. in Huntington Beach asked a bankruptcy court to approve the sale of its Ampla running shoe brand to a pair of former executives for $200,000.
Santa Ana-based Secure Technology Co. was sold to Benchmark Electronics Inc. for $230 million in cash by its private equity owner, Vance Street Capital LLC.
Santa Ana-based MP Biomedicals LLC was sold to Valiant Co. in China for about $134 million.
Harvesters, which was founded in 1992 to raise awareness and funds for Second Harvest Food Bank of Orange County, hosted its 23rd annual Harvesters Fashion Show & Luncheon Runway Fundraiser on Oct. 7.
Tamarind Dashed Hopes, Scott’s Ends on High Note
Double bombshells hit diners in the past month with the sudden closing of Tamarind of London at Newport Coast and news that Scott’s would be closing at the end of the year.
Other items of interest Orange County Business Journal Vol. 38, No. 44
Kia Motors Corp.’s logo will appear on player jerseys during the National Basketball Association’s next two All-Star games—in Toronto in 2016 and Charlotte, N.C., in 2017.
Nov. 2-11; Nov. 19, 2015
This week's business and other event listings.
Local Units Part of 23% Revenue Hike on Dental
Units with an Orange County presence helped drive improved financial performance for Danaher Corp.’s third quarter, according to company executives.
Spots Show HB Affords ‘Real’ Vibe to Pacific City
Pacific City in Huntington Beach is scheduled to open to the public on Nov. 7, according to its developer, DJM Capital Partners in San Jose.
$2.2B Offer About 4 Times PMC-Sierra’s Annual Sales
Aliso Viejo-based Microsemi Corp.’s $2.2 billion bid to acquire Sunnyvale chipmaker PMC-Sierra Inc. is the latest deal in the sizzling chip sector, which has already seen record activity this year.
Sales and leases of offices, industrial buildings, retail space and apartments
Sanderson J. Ray Development sold a retail property in Laguna Woods to Newport Beach-based DMP Properties for $5.7 million, or about $340 per square foot.
The Orange County retail market once again saw increases in overall market fundamentals, with minor improvements throughout multiple sectors.
Scoops Up SanDisk, Gets Long-Awaited HGST Nod
Scoops Up SanDisk, Gets Long-Awaited HGST Nod
Seal Beach Latest to Join Avila’s, Making It an Even Dozen With $30M in Sales
Avila’s El Ranchito now has 12 restaurants under its banner after opening a Seal Beach location in late August, though it lacks one thing: a headquarters.
REAL ESTATE: $51.2M buy comes as $2.3B REIT ramps up
KBS Realty Advisors is the latest Orange County real estate investor looking to invest in New Orleans’ hospitality market, even as the Newport Beach-based company continues to seek deals—and investors—in its own backyard.
REAL ESTATE: Irvine Co. nabs BofA division for new tower
The Irvine Company has landed its largest tenant yet for the new 520 Newport Center office tower next to Fashion Island.
TECHNOLOGY: Deal would double its debt; dismisses idea of other suitors
Aliso Viejo-based chipmaker Microsemi Corp. is confident its record $2.2 billion bid last week to acquire PMC-Sierra Inc. will stand against competitor Skyworks Solutions Inc.
Myriad technological tools have taken on increasingly important roles in day-to-day business in the information age, and the industry of wealth advisement is no exception.
Myriad technological tools have taken on increasingly important roles in day-to-day business in the information age, and the industry of wealth advisement is no exception. The Business Journal’s Jane Yu asked several Orange County-based advisers how they now use technology in their everyday operations and in the development of client relationships. Here are edited excerpts of their responses:
Top 25 Down to 1,705 Advisers in Past Year
The combined number of local registered representatives at Orange County’s biggest financial advisory firms dropped while the firms boosted their total OC work forces.
The Insider has been in Rome, marveling over the bunch of rustic hilltop settlements that grew into the Eternal City by welcoming talent from anywhere, absorbing and adapting the best that newcomers of all stripes have had to offer over the past 2,700 years
HEALTHCARE: AV device maker to sell $75M in shares
Ellipse Technologies Inc. is gearing up to test the initial-public-offering waters.
HEALTHCARE: Joins software work with that of other startups
St. Joseph Health has moved the technology development arm of a company it invested in from Colorado to Irvine.
MARKETING: Shop sells self as LA-quality with less fuss
ELA Advertising in Irvine rebranded itself as EverythingLA, conceding to what it calls a misguided yet common perception that the best creative work comes from major urban hubs the likes of New York, Chicago and Los Angeles.
SERVICES: CSA Group hopes to win more customers
Toronto, Canada-based CSA Group is opening a new laboratory in Irvine with the intent of winning more business from the area’s medical device and diagnostic products makers.
APPAREL: Staff of 10 to seek liquidity, identify cost cuts
Quiksilver Inc. President Greg Healy is getting one more set of hands to help him navigate the Huntington Beach-based footwear and apparel company through a newly approved Chapter 11 bankruptcy exit plan.