Orange County Business Journal

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Alliant Acquires Again in Spokane

Newport Beach-based Alliant Insurance Services Inc. has acquired Kassa Insurance Services Inc. in Spokane, Wash. on undisclosed terms.

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Auction.com Buys Software Company

Auction.com LLC, an Irvine-based online real estate auction company, has acquired Channel LLC in Newport Beach on undisclosed terms.

Toba Capital Puts $4M Into Drink Maker

Toba Capital Management in Newport Beach invested $4 million in Irvine-based True Drinks Inc.

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Toba Puts $4M into Kids' Drink Maker

Toba Capital Management in Newport Beach has invested $4 million in Irvine-based True Drinks Inc.

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Solis Gets Stake in Propane Company

Newport Beach-based private equity firm Solis Capital Partners LLC has invested in ICOM North America.

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Irvine Software Firm Gets $19M

Irvine-based software company Mavenlink Inc. has raised $19 million in a recent funding round.

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Midday Stock Roundup

The S&P 500 was down 0.2% to 2,105.68 in midday trading.

Octane Head Leaves for San Diego

Matthew Jenusaitis will step down as president and chief executive of Aliso Viejo-based Octane to join the University of California San Diego Healthcare System.

Golden State Plans $40M Alabama Plant

Irvine-based food manufacturer and distributor Golden State Foods Corp. is planning to spend about $40 million to build a meat processing plant in Alabama.

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McCulley Leaves Pimco

Paul McCulley has stepped down as chief economist and managing director at Newport Beach-based Pacific Investment Management Co.

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Pac Merc Adds Directors

Pacific Mercantile Bancorp has added two directors to its board, including the head of Aviation Capital Group Corp., a subsidiary of Newport Beach-based Pacific Life Insurance Co.

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MV Insurance Firm Acquired

Mission Viejo-based E&O Professional Risk Management and Insurance Services LLC has been acquired by Integro Ltd. in New York.

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Octane CEO Headed to UCSD

Matthew Jenusaitis will step down as president and chief executive of Aliso Viejo-based Octane to join the University of California San Diego Healthcare System.

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Golden State Plans $40M Ala. Plant

Irvine-based food manufacturer and distributor Golden State Foods Corp. is planning to spend about $40 million to build a meat processing plant in Alabama.

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HireRight Parent Files for BK

The parent company of Irvine-based employment screening firm HireRight Inc. has filed for bankruptcy protection.

Sharp Eye

Rosolowski Helped Razor USA Grow Rapidly, Create Better Procedures

Larry Rosolowski joined kick scooter maker Razor USA LLC in 2006 when it was still a budding business.

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Solis Gets Stake in Lindora

Newport Beach-based private equity firm Solis Capital Partners has acquired an equity stake in Lindora Inc., a Costa Mesa-based provider of weight-loss management programs.

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Vacation Rental Tech Firm Gets $5M

Irvine-based travel-technology company BookingPal Inc. got $5 million in a venture capital round.

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Pimco Taps Ex-Morgan Stanley Economist

Pacific Investment Management Co. has tapped former Morgan Stanley chief economist Joachim Fels as a managing director and global economic adviser.

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Plaza Bank’s Merger Partner Sells Mortgage Unit

Bank of Manhattan, which is in the process of merging with Irvine-based Plaza Bank, has agreed to sell its mortgage business to Wilshire Bancorp Inc. in Los Angeles.

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Confie Buys in Texas

Huntington Beach-based Confie Seguros Insurance Services has acquired Baja Auto Insurance in Dallas on undisclosed terms.

OC Mortgage Lenders Poised for Strong Run

FINANCE: Nonbank enterprises claim ground in recession’s wake

A number of mortgage lenders in Orange County have readied themselves for what’s expected to be a strong year for home loans.

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SA Security Firm Grows Retail Side

Santa Ana-based Universal Protection Service has acquired two guard services companies to expand its retail mall business.

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Opus Forms Broker-Dealer Arm

Irvine-based Opus Bank has established a broker-dealer subsidiary to support its merchant banking business.

Q&A

The Business Journal’s Jane Yu asked local bankers what community involvement means to their institutions. This week’s Q&A sheds light on the banks’ current engagement in Orange County beyond compliance with the Community Reinvestment Act, as well as their plans for this year and some of the challenges they see ahead. Executives also discussed some challenges they face in supporting the community. Here are edited excerpts of their responses.

SJC Big-Data Firm Gets $10.8 Million

San Juan Capistrano-based search engine Maana Inc. raised $10.8 million, according to a recent filing with the U.S. Securities and Exchange Commission.

Banks, Thrift Expand Orange County Deposits by 8%

43 Combine for $84.1 Billion, Mirroring Year-Earlier Rise

Commercial banks in Orange County continued to grow local deposits, notching another 8% increase over the year through June for a total of $84.1 billion.

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Tech Coast Angels Tally $16M

Irvine-based angel investor network Tech Coast Angels invested $16.4 million in 61 deals in 2014.

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Tech Coast Angels Tally $16M

Irvine-based angel investor network Tech Coast Angels invested $16.4 million in 61 deals in 2014.

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Solis Invests in SA Safety Gear Maker

Newport Beach-based private equity firm Solis Capital Partners has acquired an equity stake in Santa Ana-based ML Kishigo Manufacturing Co.

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Western Digital in $29M VC Investment

The venture capital arm of Irvine-based Western Digital Corp. co-led a $29 million funding for memory products maker Everspin Technologies Inc.

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Western Digital in VC Investment

The venture capital arm of Irvine-based Western Digital Corp. co-led a $29 million funding for memory products maker Everspin Technologies Inc.

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Q4 Profit Up for Opus

Irvine-based Opus Bank reported $12.6 million in fourth-quarter profit, up 76% from the same time a year earlier.

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SJC Big Data Firm Raises $10.8M

San Juan Capistrano-based search engine Maana Inc. has raised $10.8 million, according to a recent filing with the U.S. Securities and Exchange Commission.

Alliant Buys Australia Firm’s US Arm

Newport Beach-based Alliant Insurance Services Inc. agreed to pay about $300 million to acquire QBE US Agencies, the U.S. operations of Sydney, Australia-based QBE Insurance Group Ltd.

Jobs Decline at Top Foreign-Owned Cos.

THE LIST: Blizzard buyout tipped field’s total

The biggest foreign-owned companies in Orange County employ just more than 27,000 workers here, a decrease of about 1% from a year earlier.

Kodiak Capital to Fold NY Office Into OC Base

FINANCE: NB-based firm busy with small-stake strategy

Newport Beach-based investment firm Kodiak Capital Group LLC is off to a busy start this year with several deals on the books and plans to consolidate its East Coast operations in Orange County in coming months.

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Pac Merc Swings to Profit

Costa Mesa-based Pacific Mercantile Bancorp swung to a profit in the fourth quarter, logging $390,000 in net income compared with a loss of $14.8 million in the year-earlier period.

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Jobs Grow, Unemployment Falls to 4.4%

Orange County businesses added 33,500 jobs in 2014, up 2.3% to 1,515,300 jobs.

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City National Sold For $5.4B

The parent of City National Bank has been acquired by Royal Bank of Canada for $5.4 billion.

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Opus Buys Escrow Company

Irvine-based Opus Bank has agreed to pay $25 million for Commerce Escrow Co. and its affiliate business RPM Investments Inc.

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Janus Confirms Gross Put Own Money Into Fund

Janus Capital Group Inc. Chief Executive Dick Weil confirmed that Bill Gross has put more than $700 million of his own money into the Janus Unconstrained Bond Fund, which Gross manages.

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Profit Up for CalFirst

Irvine-based California First National Bancorp posted $3.6 million in profit for the three months ended Dec. 31, up 63% from the same period a year ago.

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Pacific Premier Profit Up for 2014

Irvine-based Pacific Premier Bank had $16.6 million in net income last year, an 85% increase from 2013.

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Alliant in $300M Deal to Buy QBE Units

Newport Beach-based Alliant Insurance Services Inc. has agreed to pay about $300 million to acquire QBE US Agencies, the U.S. operations of Sydney, Australia-based QBE Insurance Group Ltd.

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San Clemente Auto Software Firms Buys Marketer

San Clemente-based automotive customer service firm DealerSocket Inc. has acquired DealerFire, a web design and digital marketing firm in Oshkosh, Wis.

2015 Preview: FINANCE

Local financial industry professionals are banking on an improving U.S. economy that could feed business growth here.

Law Firms Add Attorneys After Two Years of Cuts

Headcount Up 3.2%; More Make List Due to Growth

The biggest law firms in Orange County grew their workforces in 2014, breaking a two-year streak of cuts in attorney headcount.

Hyden's Other Marathon

Latham & Watkins Partner Finished Boston Just in Time for Allergan Saga

Cary Hyden used to think a marathon covered 26 miles, 270 yards.

Legal Pros Focus on Fine Arts, Plan UCI Collaboration

Attorneys Work With UCI Program to Boost Fine Arts

Put together a few attorneys sharing a passion for the arts and a local university that fosters artistic talent, throw in some creative thinking and readiness to provide support, and you’ll get Off-Center, a collective launched by a committee of local lawyers and educators in concert with University of California-Irvine’s art department.

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