Orange County Business Journal

OCBJ WEEKLY EDITION

El Pollo Loco Chain Sets IPO Terms

Costa Mesa-based El Pollo Loco Holdings Inc. set the terms for its planned initial public offering.

Art Museum in Negotiations on Property

The Orange County Museum of Art said it’s negotiating with a unit of New York-based developer Related Cos. to sell its Newport Center property.

Ketchum Univ. Names Health Dean

Fullerton-based Marshall B. Ketchum University named Judy Ortiz the first dean of its College of Health Sciences and director of its new School of Physician Assistant Studies.

Oculus Cancels Some Headset Orders

Irvine-based Oculus VR Inc. canceled some preorders for its Rift VR DK2 headset after finding them for sale on eBay and other ecommerce sites.

Fastest-Growing Private Cos. Wanted for List

ECONOMY: Centerpiece of Sept. 22 Special Report

The Business Journal is producing its annual list of fastest-growing privately held companies, set to appear as the centerpiece of a Special Report in its Sept. 22 issue.

Healthcare Project Construction Manager Bought By JLL

Chicago-based commercial real estate brokerage JLL acquired Cleo Construction Management in San Clemente for an undisclosed amount. Cleo specializes in construction and management of healthcare projects.

PHILANTHROPY

Nearly 300 guests donned their best party clothes during a night of Las Vegas-style poker at the Muscular Dystrophy Association’s 19th Annual Gift of Hope Gala on May 31.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 37, No. 29

Boeing Co. won a Department of Defense contract to design a robotic plane to place satellites in space, according to the Orange County Register.

OCBJ Calendar

July 21-30, 2014

This week's business and other event listings.

Print Service Provider in Deal for Security Specialist

Auxilio Pays $2.7M for San Clemente Company

Mission Viejo-based Auxilio Inc., a managed print services company serving the healthcare industry, said it is acquiring information security manager Delphiis in San Clemente this month in a $2.7 million cash and stock deal.

Fresh Roxy Style at the Beach—Venice Beach, That Is

New Quiksilver Video Part of ‘Season of Freedom’

Apparel manufacturer Quiksilver Inc. in Huntington Beach has launched a one-minute video, “Loving Lost in Venice.”

Blizzard Designer Exits Company After 17 Years

Pardo Was Lead Artist On ‘Warcraft,’ ‘Diablo’ Games

Blizzard Entertainment Inc. Creative Director Rob Pardo, a 17-year veteran at the Irvine-based video game maker and lead designer on the “World of Warcraft” and “Diablo” franchises, is leaving the company to embark on a new adventure.

Real Estate Deals

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

LNR Partners LLC sold a retail building in Foothill Ranch for $6.6 million to Crown Realty & Development Inc.

South OC Continues Upward in First Quarter

Overall activity in the South Orange County commercial market picked up in the first quarter, recording positive net absorption of 176,679 square feet.

RREEF Adds Anaheim Hills Office to OC Portfolio

$18.5M Buy Comes After $20.4M Tustin Office Deal

Anaheim Hills Office Plaza, one of the largest North Orange County offices built in the last real estate boom, has had another change in ownership.

Building Time in Orange?

Office Buys Could Spur Apartments, Tower Project

A big chunk of apartment construction and a new office tower could go up on land next to the Outlets at Orange following the recent sale of two nearby buildings.

Fashion Label Likes Look of Competition

APPAREL: Irvine-based Z Supply feeds off challenges of fast-fashion

Forget about the doom-and-gloom projections that women’s retail is boring, merchandising is dead, and Forever 21 killed the category.

Allergan’s New Look Likely to Include Slimmer Headquarters

HEALTHCARE: Plans some R&D cuts to boost earnings amid takeover battle

Look for Allergan Inc. to start looking different as the takeover battle for the Irvine-based drug maker grinds on.

Vinny’s Other Dell Deal: $150M for Quest’s Venture Portfolio

FINANCE: 10 companies formed foundation of Irvine-based Toba

The foundation of what is now the largest venture capital firm in Orange County tracks back to Vinny Smith’s success in retrieving a chunk of Quest Software in a deal struck nearly a year after its $2.8 billion sale to Dell Inc.

Irvine’s Outsized Rep; SCR Goes to Santana; Augie Takes a Hike

Sheril Liu of ReMax Premier Realty in Irvine put a clear focus on one of the ways the city—with a population a bit under 250,000—punches above its weight.

OC Roots Surface in $140 Million Acquisition

TECHNOLOGY: Lake Forest company in hot segment

The deep roots of Orange County’s technology sector intersected with one of the industry’s hottest segments in last week’s $140 million sale of Lake Forest-based chipmaker Newport Media Inc.

Q&A

Some local accounting firm executives say an improving economy, increasingly complex client needs, and heightened regulation are combining to bring them more work, a phenomenon they say will likely require bigger staffs. Meanwhile, technology is becoming more of a crucial element in helping meet the growing workloads. The Business Journal’s Jane Yu recently asked several firms to talk about trends in supply and demand in the industry and about the pace of professionals entering the field, along with how the firms use and invest in information technology. Here are edited excerpts of their responses.

No Local Changes Seen After Medtronic Buy

HEALTHCARE: Q4 closing expected for $42.9B deal

Medtronic Inc. is likely to keep its Orange County operations basically intact, even after it wraps up a multibillion-dollar acquisition that could make it one of the top five medical device makers by local employment.

King’s Seafood Plans Water Grill in OC

DINING: High-end concept in downtown LA, Santa Monica

Costa Mesa-based restaurant operator King’s Seafood Co. plans to put a minimum of $5 million into an Orange County location of its high-end Water Grill.

Accounting Firms Tally Up 4% in OC Staff Increases

Gains Represent Third Year of Local Staff Jumps

Orange County’s top accounting firms combined to grow their local offices by 4%, continuing a run of employment gains for the third straight year.

D-Link Looks to Grow on Gear for Connected Homes

TECHNOLOGY: New products ready, ad campaign in works

Fountain Valley-based D-Link Systems Inc. is making an aggressive move into the connected-home market with a slew of new products, big retail distributors, and its first national TV campaign.

Toshiba Aims to Print Up New Image for Irvine Unit

MEDIA: Eyes role as manager of information in mobile world

Toshiba America Business Solutions Inc., an Irvine-based print product powerhouse, has seen the writing on the wall for some time now—advances in mobile technology are changing the way companies communicate, a shift that’s pushing its once-legacy business toward oblivion.

Management Consultants Grow OC Workforces 25%

Regulatory Changes, Plus Acquisition Fuel Increase

Orange County’s top management consulting firms grew their local offices by 25% over the past year, the highest rate since a recovery in hiring began in 2011.

TRI Pointe Expands Operations Post Weyerhaeuser Close

REAL ESTATE: Builder hires, grows office, as home prices rise

Expect a larger headquarters in Irvine but not much else in the way of local changes at TRI Pointe Homes Inc. following its audacious buy of the homebuilding division of Federal Way, Wash.-based timber conglomerate Weyerhaeuser Co.

USC’s Keck Gets OC Medical Practice

Keck Medicine of USC, the University of Southern California’s medical enterprise, acquired Orange Coast Oncology Hematology Medical Associates for an undisclosed price as part of a cancer-treatment network allowing local patients to avoid trips to Los Angeles for care.

ClearLight Sells Juice Maker for $150M

Newport Beach-based private equity firm ClearLight Partners LLC sold portfolio company Apple & Eve LLC to Canadian food manufacturer Lassonde Industries Inc. for about $150 million.

Ex-Ahold CFO Joins Western Digital Board

Irvine-based memory products maker Western Digital Corp. expanded its board of directors with the appointment of finance veteran Paula Price.

Oculus VR Buys, Announces Conference

Irvine-based Oculus VR Inc. announced another acquisition and plans to host a September developer conference in Los Angeles.

Irvine Healthcare REIT Sale Possible

Irvine-based Griffin-American Healthcare REIT II, an owner of healthcare-related real estate properties, could be bought by NorthStar Realty Finance Corp. of New York, according to news reports.

Fastest-Growing Private Cos. Wanted for List

ECONOMY: Centerpiece of Sept. 22 Special Report

We know you’re out there. The Business Journal is producing its annual list of fastest-growing privately held companies, set to appear as the centerpiece of a Special Report in its Sept. 22 issue.

Different Extras Catch Luxury Homebuyers’ Eyes

Marble Baths, Wine Rooms Coveted; Others Less So

Marketing a luxury home in coastal Orange County is a science.

ADDENDUM

Other items of interest Orange County Business Journal

Huntington Beach-based apparel maker Quiksilver Inc. entered into licensing agreements for several product categories, Chief Executive Andy Mooney said.