Orange County Business Journal

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10 OCers on Forbes List

Ten members of the Business Journal’s annual OC’s Wealthiest list made the recent Forbes 400 list, which ranks the wealthiest Americans by estimated net worth.

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OC Business Bank to Sell for $55M

Orange County Business Bank has agreed to sell to HomeStreet Inc. for $55.3 million.

More Than Middling Performance

Midsize Companies Make Up Nearly Half of Total, Take in $2.4B

The 71 fastest-growing private companies in Orange County with revenues between $10 million and $99.9 million combined to grow their top line by 84% over two years for an estimated $2.4 billion.

Large Companies, Big Gains

Revenue Rises 30% to $16B; Jobs Up 48% to 12,241

The biggest of the fastest-growing private companies in Orange County combined to boost revenue by 30% over the past two years to an estimated $15.7 billion.

Small Companies, Big Increase

65 Combine for 94% Gain on Revenue

The 65 companies featured on this week’s list of fastest-growing small private companies based in Orange County can claim a big achievement on a collective basis: They’ve combined to nearly double revenue over the past two years to an estimated $310 million.

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OC Adds Jobs, Unemployment Rate Dips

Orange County employers added 2,200 jobs in August after two months of job cuts.

Strathspey Buys Distributor in Spain

Strathspey Crown Holdings LLC, a Newport Beach-based healthcare private equity firm, agreed to acquire IMEX Clinic SL, a specialty medical equipment distributor in Valencia, Spain. Terms of the deal weren’t disclosed.

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Lifestyle Healthcare Investor Buys Distributor in Spain

Strathspey Crown Holdings LLC, a Newport Beach-based healthcare private equity firm, has agreed to acquire IMEX Clinic SL, a specialty medical equipment distributor in Valencia, Spain.

Chapman Law School Dean Steps Down

Tom Campbell will step down as dean of Chapman University’s Dale E. Fowler School of Law and return to teaching, the university said.

Pimco’s Other Purpose

Foundation’s Poverty-Fighting Program Matches Millennials’ Mindset, Provides Participants Way to Give, Grow

Poverty doesn’t figure into the view from the high-rise offices of Newport Center.

OC Attorney to Work on Suit for Navajos

Orange County attorney John Hueston was tapped to represent the Navajo Nation in a lawsuit against the U.S. Environmental Protection Agency.

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ClearLight Invests in Legal Marketing Firm

Newport Beach-based private equity firm ClearLight Partners LLC has made a “major” investment in Walker Advertising, a legal marketing firm primarily serving the Latino-American community.

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Chapman’s Campbell to Step Down as Dean of Law School

Tom Campbell will step down as dean of Chapman University’s Dale E. Fowler School of Law and return to teaching, the university said.

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Hueston to Represent Navajo Nation in Spill Claims

Orange County attorney John Hueston has been tapped to represent the Navajo Nation in a lawsuit against the U.S. Environmental Protection Agency.

Global Drama, Local Grind

OC-Based Public Companies Take Share of Licks, Carry On

Orange County’s diverse crop of publicly traded companies held up relatively well as worries about China’s economy whipsawed the stock market here and in other markets around the world.

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Stearns to Sell Majority Stake to Blackstone

Santa Ana-based mortgage lender Stearns Holdings LLC has agreed to sell a majority stake to the Blackstone Group LP, a global asset manager in New York.

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OC Cuts Jobs, Unemployment Rate Up

Orange County’s unemployment rate inched up last month as employers continued to make job cuts.

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Stearns to Sell Majority Stake to Blackstone

Santa Ana-based mortgage lender Stearns Holdings LLC has agreed to sell a majority stake to the Blackstone Group LP, a global asset manager in New York.

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Stearns to Sell Majority Stake to Blackstone

Santa Ana-based mortgage lender Stearns Holdings LLC has agreed to sell a majority stake to the Blackstone Group LP, a global asset manager in New York.

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OC Cuts Jobs, Unemployment Rate Up

Orange County’s unemployment rate inched up last month as employers continued to make job cuts.

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Banc of CA CFO to Leave

The chief financial officer of Irvine-based Banc of California is stepping down, according to a document filed with the Securities and Exchange Commission.

OC Cities’ Populations Increase 1% to Top 3 Million

Anaheim Stays Atop List, Irvine Grows Most at 3.2%

Orange County’s population growth kept pace and inched up by 1% last year to slightly above 3 million.

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Banc of CA CFO to Leave

The chief financial officer of Irvine-based Banc of California is stepping down, according to a document filed with the Securities and Exchange Commission.

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Toba Backs Software Startup

Newport Beach-based venture capital firm Toba Capital has partnered with an information technology company to invest $20 million in WSO2, a software developer in Mountain View.

Universal Appeal in Santa Ana?

Latest Acquisition Has Private Security Firm Planning for IPO

Fast-growing security services provider Universal Services of America has its eyes set on an initial public offering in the next 18 to 24 months.

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LH Software Company Gets $3.5M

Laguna Hills-based Centercode Inc. has received $3.5 million in equity financing, according to a filing with the Securities and Exchange Commission.

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First Foundation to Raise $100M

Irvine-based First Foundation Inc. has kicked off an initial public offering of its common stock for $100 million.

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Confie Buys 3

Huntington Beach-based insurance brokerage Confie has acquired three brokerages on undisclosed terms.

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Banc of California Profit, Loans Up

Banc of California Inc. reported an 82% year-over-year increase in its second-quarter profit to $13.1 million.

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SA Security Firm Buys in Tennessee

Santa Ana-based Universal Protection Service has acquired Guardsmark in Memphis, Tenn., on undisclosed terms.

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Opus Bank Q2 Profit, Loans Up

Opus Bank reported higher year-over-year net income in the second quarter thanks to growth on a number of fronts, including interest income on loans and noninterest income.

Rich Uncles REIT Files for IPO

Real estate investment company Rich Uncles LLC is planning an initial public offering that could raise as much as $1 billion for its newly created Rich Uncles REIT Inc.

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Pac Merc Q2 Profit, Loans Up

Pacific Mercantile Bancorp reported higher year-over-year net income for the second quarter citing higher yield on earning assets.

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Alliant Acquires Agribusiness Agency

Newport Beach-based Alliant Insurance Services Inc. has acquired an agency in Lodi that specializes in agribusiness insurance. Terms of the deal weren’t disclosed.

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Rich Uncles REIT Files for IPO

Real estate investment company Rich Uncles LLC is behind an initial public offering to raise as much as $1 billion for its newly created Rich Uncles REIT Inc.

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Rich Uncles REIT Files for IPO

Real estate investment company Rich Uncles LLC is behind an initial public offering to raise as much as $1 billion for its newly created Rich Uncles REIT Inc.

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Unemployment Rate Up Slightly

The unemployment rate in Orange County ticked up slightly as employers trimmed the work force in June.

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MV Pipeline Inspection Company Sold

Mission Viejo-based Hoffman Southwest Corp., which provides underground pipeline inspection and repair services, has been acquired by Chicago-based private equity firm Sterling Partners.

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VC Inflow Jumps in Q2

Quarterly venture capital inflow to Orange County companies hit the highest level since mid-2011, according to data from Dow Jones VentureSource.

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Warburg Pincus Set to Take Stake in Universal

New York-based Warburg Pincus is set to take a majority stake in Santa Ana-based Universal Services of America Inc.

Accounting Firms Notch 4th Year of Workforce Gains

Employment Up 4.4%, Top Spots Unchanged

Orange County’s largest accounting firms combined to grow the sector’s local workforce by about 4% over the past year, marking the fourth straight year of modest gains.

Excelsior Capital Buys Wall Art Maker

Excelsior Capital Partners LLC in Newport Beach formed two entities to acquire Artissimo Designs, a manufacturer of wall decoration products.

Banc of California Sells Two Branches

Irvine-based Banc of California Inc. agreed to sell two branches to Americas United Bank in Glendale, which primarily serves Latino-American customers.

Payoff Gets $250M for Credit Debtors

Costa Mesa-based consumer financial services firm Payoff Inc. secured up to $250 million in debt financing to help its members pay off credit card debt.

Management Consultant Gains Slow As Biggest Shrink

27 Firms Eke Out 1% Gain to 1,551 Jobs Here

The pace of employment growth at Orange County’s top management consulting firms slowed over the past year, driven primarily by job cuts at the biggest.

Q&A

A diversity of business sectors, ample capital held by investor groups, and demographic factors are some key drivers behind a robust mergers-and-acquisitions scene in Orange County. The fast pace of M&A activity means professional services providers, such as accountants, are in high demand to carry out sound due-diligence procedures and provide guidance. The Business Journal’s Jane Yu asked local accounting firm executives to share their thoughts on M&A activity in Orange County, as well as to discuss expectations for future trends and client concerns. Here are edited excerpts of their responses:

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Midday Stock Roundup

The S&P 500 was up 1.3% to 2,077.94.

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Midday Stock Roundup

The S&P 500 was up 0.9% to 2,064.26.

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Banc of CA Sells 2 Branches

Irvine-based Banc of California Inc. has agreed to sell two branches to Americas United Bank in Glendale, which primarily serves Latino-American customers.

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Midday Stock Roundup

Markets saw sell-offs Wednesday morning on concern over China’s stock market.

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