Orange County Business Journal

OCBJ WEEKLY EDITION

How Oil Patch Pain Hits OC Chain

Boot Barn Adjusts as Energy Sector’s Cuts Trickle Down to Core Customers

What does the price of oil have to do with sales at Irvine-based Boot Barn Holdings Inc.?

KBS Goes to Israel For Public Listing Of REIT’s Bonds

REAL ESTATE: Raises $250M with debt-based offering in Tel Aviv

A nontraded real estate investment trust run by Newport Beach-based KBS Realty Advisors has taken a unique track for going public, raising nearly $250 million through a bond offering in Israel.

Stall on IPOs Feels Different in OC

ECONOMY: Choppy market has some on hold; others seek sales

Orange County’s roster of locally based public companies with billion-dollar valuations isn’t getting much help when it comes to offsetting some high-profile departures.

Historic Deals, Hefty Effect for Public Cos.

ECONOMY: Edwards Lifesciences fills vacuum, claims top spot

The two biggest sales of locally based public companies in Orange County’s history brought an equally historic reduction to the rest of the field. The 100 entries that make up this year’s list of the largest public companies had a combined market capitalization of $98 billion as of March 31, down 53% from a year earlier.

NBFF Finds Niche; Calle Moves Up

Here’s a take worth the telling before it gets overwhelmed by all the beautiful people bound to keep hotels and restaurants hopping as a byproduct of the 17th annual Newport Beach Film Festival, which starts this week: Executive Director Gregg Schwenk says well-heeled cinema buffs account for many of the 50,000 or so visitors the event regularly attracts, but he also notes that certain screenings draw a different crowd, with representatives from distributors and other industry pros accounting for as much as 30% of the gate.

CT Sells Chunk of OC Industrial in $191M Deal

REAL ESTATE: Five of nine properties Rexford gets are here

Newport Beach-based CT Realty Investors is selling a portion of its industrial real estate holdings in Orange County as part of a $191 million portfolio deal with a real estate investment trust.

Firm Prepares FDA Bid for Portable Dialysis Device

HEALTHCARE: EasyDial boosts work force in ramp-up

EasyDial Inc., a maker of kidney dialysis devices, has boosted its employment base in anticipation of a Food and Drug Administration approval and a move to Irvine from Laguna Hills.

Kelley Blue Book Shifts Focus

A new marketing campaign by Irvine-based Kelley Blue Book aims to help the 90-year-old company build a reputation as a “go-to resource” for new-car buyers, alongside its longstanding status as a guide on used-car valuations.

Professor Who Raised Chapman’s Profile Mourned

Future Format Unclear For Forecasts He Helped Create

Economic forecasting can be like shoveling fog. It involves skillfull interpretation of vague and complex trends, and encompasses multiple skills, such as economic theory and technical training in statistics, according to economic experts.

Private Companies Wanted for Annual List

SPECIAL ISSUE: list will be centerpiece of June 20 edition

The Business Journal is preparing its annual list of privately owned companies for publication in June.

Software Maker Takes in $6.7 Million

Rancho Santa Margarita data analytics software maker Compellon raised $6.7 million in a Series A funding round led by Beverly Hills-based Kairos Ventures, which committed $5 million.

Textile Maker Bought By Ohio Company

Irvine-based textile manufacturer Momentum Group was acquired on undisclosed terms by the private equity company Riverside Co., which is headquartered in Cleveland, Ohio.

Opus Bank Buys IRA Services Firm

Irvine-based Opus Bank acquired San Francisco-based PENSCO Trust Company, an alternative-asset investment advisor for IRAs, in a cash and stock deal worth about $104 million.

Chapman Starts Communication School

Chapman University will launch a School of Communication on June 1 to be headed by Lisa Sparks, who was appointed its dean by Chapman President Jim Doti following a unanimous faculty vote.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 39, No.16

Los Angeles-based manufacturer American Apparel Inc. laid off more than 80 people at its Garden Grove factory, a number that could grow to 150, according to news reports.

All-Cash Transactions on Rise at High End of Market

Foreign, Local Buyers Seek Out Safe Investments

All-cash sales for luxury properties are on the rise, according to Irvine-based CoreLogic, which provides financial, property and consumer analytics, and tracks current trends.

OCBJ Calendar

April 18-27, 2016; May 4, 2016

This week's business and other event listings.

Edwards Test Results Could Give it Some Separation

Valves as Good or Better Than Surgery on Some

Edwards Lifesciences Corp. is getting approving nods in the wake of positive clinical trial results for its Edwards Sapien transcatheter heart valves on a sizable patient population.

New Plaza Regency’s Alternative to Powerhouse Centers

Gourmet Grocer Anchors Unique Mix at Center

Developer Regency Centers wanted to build more than just another strip mall in Brea—it envisioned a retail and dining hub that prompts nearby residents to abandon the comforts of online shopping and walk over for a bite or a drink with a neighbor. It also had to stand apart from the surrounding offerings, a plethora of middle-of-the-road chain stores and restaurants that often make one street corner look like the next.

New Ingram Owner Makes Good With Acquisitions

Deal to Buy Cloud App Distributor to Add Revenue

Ingram Micro Inc.’s pending owner is making good on its word to invest in the Irvine-based company after its $6 billion sale.

Real Estate Deals

Sales and leases of offices, industrial buildings, retail space and apartments

Beauty and personal care company SeneGence International signed a seven-year lease at 19651 Alter in Foothill Ranch for $4.5 million.

Inland Empire Posts Strong First Quarter

The Inland Empire industrial market continued to show no signs of deceleration as gross activity remained strong in the first quarter, totaling 9.6 million square feet.

Obey Investor Snaps Up Industrial Building in IBC

79K SF Building Sells For $11.8M; Move Planned

An investor with ties to Irvine-based Obey Clothing has bought an industrial facility close to one of the apparel maker’s facilities near John Wayne Airport.

Software Platform Firm Nets $3 Million in Seed Round

Funds to Go Into Oil, Gas Clients That Got It Started

Exara, based in San Juan Capistrano as part of Frost Data Capital’s incubator, closed out its seed round of financing, which brought it more than $3 million.

OCBJ Calendar

April 11-20, 2016; May 4, 2016

This week's business and other event listings.

OCBJ Calendar

April 11-20, 2016; May 4, 2016

This week's business and other event listings.

Auxilio Boss Discusses Diversification and Contracts

Print Provider Grows IT Security Business, More

Mission Viejo-based Auxilio Inc. is combining diversification plays and growth in its core as a managed print services company focused on the healthcare industry.

Volcom Taps Agency Vet as Head of Women’s Business

Volcom Taps Agency Vet as Head of Women’s Business

Volcom Inc. in Costa Mesa picked agency vet Lyndsey Roach as its global head of women’s business, a new position.

Boeing May Cut More in OC to Boost Competitiveness

To Trim 4K Jobs Across Co. to Vie With Airbus

More job cuts could be looming at Boeing Co.’s Seal Beach, Huntington Beach and Long Beach operations as the aerospace giant looks to trim thousands of positions across the country to improve its position against Airbus, a rival on commercial aircraft.

Real Estate Deals

Sales and leases of offices, industrial buildings, retail space and apartments

DeCarion Living Trust sold an office building in Laguna Niguel to Sarshar Family Trust for $5.1 million, or about $237 per square foot.

Broadcom Buildings on Block?

Real Estate Sources Expect Sales Effort; FivePoint Comfortable With Contingencies

Broadcom Ltd. is exploring a sale of one or more buildings now under construction at its new office campus at the Great Park Neighborhoods development site in Irvine, according to real estate sources.

Aston–tatious Saleswomanship

Luxe Brand’s Americas Head Puts Promotion in High Gear

Laura Schwab’s latest marketing move resembles a Depression-era anecdote about a mother feeding a whole family with one potato.

Phoenix Builder Grows Pipeline With $55M Buy

REAL ESTATE: May get most of biggest Santa Ana mixed-use project

Alliance Residential, a Phoenix-based apartment investor and builder with a growing pipeline of projects in Orange County, has bought a portion of the largest mixed-use development planned in Santa Ana.

Allergan Looks To New Opportunities

HEALTHCARE: Focuses on own buys after Pfizer deal falters

Allergan PLC is back in the hunt for deals in its seven core therapeutic areas, including ones that could complement products developed at its Irvine hub for Botox, medical aesthetics, dermatology and ophthalmology.

DFM Flips Register Land to Harrah

MEDIA: New owner sees route to profits as renter with 11 SoCal dailies

Digital First Media holds the reins at the Orange County Register, but the 14.3 acres surrounding the daily newspaper’s operations at 625 N. Grand Ave. in Santa Ana went to developer Mike Harrah for $34 million.

Gavin Likes It; OCMA Sticks to Mission

A bit of chit-chat over a brisket sandwich early last week offered a surprising indicator that OC Hall-of-Famer Gavin Herbert wasn’t at all sold on the notion that Pfizer would wrap up its buy of Allergan PLC, the latest iteration of the company he founded. It wasn’t long before Wall Street and everyone else followed Herbert to the same conclusion—after the Treasury Department derailed the deal by essentially cancelling the benefit of a tax-inversion that Allergan would have brought via its on-the-books HQ in Ireland

X Marks New Spot: JetSuite Plans Scheduled Flights

AVIATION: New brand to start in Burbank, try JWA

Irvine-based JetSuite Inc. will apply in August to carry 40,000 passengers a year on scheduled flights out of John Wayne Airport starting in January—a 20-fold increase over its charter business here.