Orange County Business Journal

OCBJ WEEKLY EDITION

Steelberg Brothers Aim for Hot Tech Sector

Veritone, founded in 2014, sped out of the gate with nearly $14 million in revenue in 2015, its first full year of business.

By Chris Casacchia March 27, 2017 midnight share »

Starwood’s $150M Bet on TRI Pointe Pays Off Again

A $150 million investment in then-upstart builder TRI Pointe Group Inc. in 2010 has proven to be a big money-maker for Greenwich, Conn.-based private equity firm Starwood Capital Group.

By Mark Mueller March 27, 2017 midnight share »

Bank Proceeds With Stadium Name Rights 

Banc of California is moving forward with the controversial $100 million naming rights to a new 22,000-seat soccer stadium in downtown Los Angeles.

By Peter J. Brennan March 27, 2017 midnight share »

Garden Grove Bank Rebounds by Raising $21 Million

Garden Grove-based US Metro Bank, once under regulatory consent orders, has raised $21 million in capital to help finance expansion of branches and lending.

By Peter J. Brennan March 27, 2017 midnight share »

IRWD Plans Midsized Office Near Sand Canyon HQ

The worst of a long drought is apparently over, and the Irvine Ranch Water District should now have more time on its hands to pursue other business opportunities, in particular real estate development.

By Mark Mueller March 27, 2017 midnight share »

Southwest Adds Two Long Beach Slots

Southwest Airlines Co. gained two permanent slots at Long Beach Airport to add to several slots it has flown from since last year.

March 27, 2017 midnight share »

Drugmaker Gets FDA Nod for Skin Gel

Allergan PLC received Food and Drug Administration approval to market hyaluronic acid dermal filler Juvederm Vollure XC.

March 27, 2017 midnight share »

$4.2M Landed for Drug Study, Program

BioCorRx Inc. in Anaheim secured $4.2 million in financing, including $940,000 in equity financing from nine investors and $1.7 million from Alpine Creek Capital, effective by March 24, a press release said.

March 27, 2017 midnight share »

Arts School Foundation Raises $1M

The Orange County School of the Arts Foundation raised a net $1 million in support of the school’s students at a recent gala fundraiser.

March 27, 2017 midnight share »

6% Bump in Local Billings for Environmental Firms

Orange County’s largest environmental consultants, as ranked by local billings, experienced an increase last year in those numbers after a small decrease in 2015.

March 27, 2017 midnight share »

Study Shows May’s the Charm for Home Sales

Conventional wisdom in the real estate profession has always been that the best time to put a home on the market is the spring.

By Kim Haman March 27, 2017 midnight share »

Compound Demonstrates Promise for Cystic Fibrosis

Aeolus Pharmaceuticals Inc., a biotechnology company developing compounds used in treatments for fibrosis, inflammation, nerve damage and infection, announced that new compound AEOL 20415 is a potential treatment for cystic fibrosis—an inherited disease that causes thickened mucus to form in the lungs, pancreas and other organs.

By Sherry Hsieh March 27, 2017 midnight share »

Berkshire Hathaway Campaign Homes in on Image

Berkshire Hathaway HomeServices in Irvine launched a national brand campaign that positions the real estate brokerage franchise network as a brand that’s “good to know” when selling or buying homes.

By Mediha DiMartino March 27, 2017 midnight share »

OCBJ Calendar

This week's business and other event listings.

By Dana Truong March 27, 2017 midnight share »

Alteryx Insiders to Control Direction Following IPO

Alteryx Inc. insiders will control the vast majority of voting rights after the company’s initial public offering last week.

By Chris Casacchia March 27, 2017 midnight share »

Real Estate Deals

Jean Burns of William H. Griffith Trust and Leeann David of San Pasqual Trust Co. sold an office building in Anaheim to Cardinal Development Co. for $3.6 million, or about $137 per square foot.

March 27, 2017 midnight share »

Firm Offers ‘Capital Staircase’ to Growing Companies

Investor Ken Hubbard last week launched Newport Beach-based CapStack West, a private social community portal providing companies access to a variety of financing options.

By Deirdre Newman March 27, 2017 midnight share »

Mediterranean Chain Franchises for Growth

Mediterranean restaurant chain Panini Cafe is changing the name of its 13 locations and selling franchises in a series of shifts that also include a new logo and ambitious plans.

By Paul Hughes March 27, 2017 midnight share »

Addendum

Satellite launch company Rocket Lab moved its headquarters from Los Angeles to Huntington Beach as it completed a $75 million funding round led by San Francisco-based venture capital fund Data Collective.

By Hannah Mitchell March 27, 2017 midnight share »

LBA Plans 6-Story Office Addition at Park Place

LBA Realty has begun to market space for lease at a new six-story office it’s planning at the Park Place campus in Irvine, adding another potential sizeable office development to the area around John Wayne Airport.

By Mark Mueller March 20, 2017 midnight share »

Corent’s Outlook Cloudy and Bright

Feyzi Fatehi more than decade ago set out to recreate Intel Corp.’s business model for the software industry.

By Chris Casacchia March 20, 2017 midnight share »

Finnish Roots, Latin Name, OC Preference

Finland-based Vincit Group PLC drew its name from “amor vincit omnia”—Latin for “love conquers all.”

By Mediha DiMartino March 20, 2017 midnight share »

Edwards Makeover Comes Amid Growth Streak

Edwards Lifesciences Corp. has added 1,300 employees over the past 12 months, a trend that’s likely to continue as the heart valve maker continues to spend about $500 million a year on research and development.

By Sherry Hsieh March 20, 2017 midnight share »

Deal With Key Shareholder Likely To Ease CEO Search

It appears that Banc of California can strike proxy-battle skills from its list of job requirements when searching for a new chief executive.

By Peter J. Brennan March 20, 2017 midnight share »

Q&A

Lawyers are watching policy changes and new initiatives that might affect their practices as the Trump administration’s direction takes early shape, and many say they already see areas likely to create new work.

By Deirdre Newman March 20, 2017 midnight share »

Industry Still Grapples With Dearth of Minority Lawyers

The general counsel of Palo Alto-based HP Inc. recently put its outside law firms on notice that the company could withhold up to 10% of all amounts invoiced by law firms that don’t meet or exceed its minimal staffing requirements regarding diversity.

By Deirdre Newman March 20, 2017 midnight share »

Law Firm’s Patronage Puts Marketing in New Gear

When Ellen Noble pedaled to first place in the Under 23 division of the European World Cup Series—the equivalent of the Tour de France for cyclo-cross, or cross-country cycling—the logo of Irvine-based Knobbe Martens Olson & Bear LLP law firm was prominently visible on her shoulders.

By Deirdre Newman March 20, 2017 midnight share »

Firms Hold Back on Attorney Hires for Second Year

Law firms in Orange County held attorney counts steady over the past year for the second year in a row after two years of modest gains.

By Deirdre Newman March 20, 2017 midnight share »

SCP’s Creamy, Dreamy B-Day; Sofar So Good

The music was lovely and the dancing superb, but it was the dreamily effective costumes and stage designs for “Whipped Cream” that made the American Ballet Theatre’s redux of the 1924 Viennese affair feel like just the right performance to celebrate South Coast Plaza’s 50th birthday with a March 15 worldwide debut at the Segerstrom Center …

By Jerry Sullivan March 20, 2017 midnight share »

Allergan Pays $90M for Genomic Eye Programs

Allergan PLC acquired through wholly-owned subsidiary Allergan Pharmaceuticals International Ltd. exclusive access and the option to license up to five of Cambridge, Mass.-based Editas Medicine Inc.’s genome editing ocular programs.

By Sherry Hsieh March 20, 2017 midnight share »

New Vantis Hotel in Aliso Viejo Sells for $38 Million

A recently built Homewood Suites hotel in Aliso Viejo has become the first acquisition here by a Texas-based investor that specializes in the hospitality market and is on the lookout for more deals this year.

By Mark Mueller March 20, 2017 midnight share »

NB, Irvine Rate as Cybersecurity Hubs

Two Orange County cities are among the top destinations in the country for cybersecurity professionals, according to recent report by GoodCall LLC.

By Chris Casacchia March 20, 2017 midnight share »

PIMCO Adds 9 Managing Directors

Newport Beach-based Pacific Investment Management Co., one of the world’s largest investment firms, with $1.47 trillion in assets under management, appointed nine new managing directors, who join 63 managing directors already listed on its web page.

March 20, 2017 midnight share »

Anaheim Hotel to Get Wyndham Flag

Ramada Plaza Anaheim will become a Wyndham Garden hotel after a $4 million renovation scheduled to take six months.

March 20, 2017 midnight share »

Software Maker Alteryx Prices IPO

Irvine-based analytics software maker Alteryx Inc. will sell 9 million shares of Class A common stock valued between $12 and $14 per share under terms of its initial public offering, according to a filing with the Securities and Exchange Commission.

March 20, 2017 midnight share »

RSM Company Buys 38 Wendy’s Spots

Cotti Foods Corp. in Rancho Santa Margarita bought 38 Wendy’s International Inc. franchises in Kansas, Oklahoma and Texas, a news report said.

March 20, 2017 midnight share »

He Got Technical

The intersection of teaching and technology proved to be the perfect convergence to launch Lane Rankin into entrepreneurship.

March 20, 2017 midnight share »