Orange County Business Journal

CSUF Survey: OC Execs Remain Bullish for Q2

ECONOMY: Revenue, job growth seen; view on earnings stable

Local company executives continued a recent run of optimism about the economy and their own business prospects going into the second quarter, according to the latest index published by California State University-Fullerton’s Mihaylo College of Business and Economics.

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Alliant Buys in Idaho

Newport Beach-based Alliant Insurance Services Inc. has acquired North Idaho Insurance LLC on undisclosed terms.

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Latham & Watkins Names New OC Managing Partner

Global law firm Latham & Watkins LLP has named B. Shayne Kennedy its Orange County office managing partner.

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Confie in 3 Deals

Huntington Beach-based Confie Seguros Insurance Services has acquired three brokerages on the East Coast.

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CM Investor Buys EB-5 Regional Center

Costa Mesa-based real estate developer and private equity firm PDC Capital Group LLC has acquired ZGlobal Southern California EB-5 Investment Regional Center.

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CM Investor Buys EB-5 Regional Center

Costa Mesa-based real estate developer and private equity firm PDC Capital Group LLC has acquired ZGlobal Southern California EB-5 Investment Regional Center.

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PE Firm Backs Water Treatment Company

Anaheim Hills-based investment firm Metrix Capital Group LLC has provided an undisclosed amount of growth capital to Superior Water Technologies Inc. in Irvine.

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Dana Point Cloud Company Sold for $25M

Dana Point-based communications company SimpleSignal Inc. has agreed to sell for $25.3 million to Vonage Holdings Corp., a Holmdel, N.J.-based provider of telephone services via broadband connection.

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OC Adds Jobs; Unemployment Down

Orange County added 14,600 jobs in February, helping drive down the unemployment rate to 4.6% from a revised 5% in January.

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Jobless Rate Up on Revised Data

Orange County’s unemployment rate ticked up to 5% as an annual revision by the U.S. Department of Labor showed 21,200 fewer jobs in January than in December, for a total of 1,510,700.

Allergan Purchase Pushes M&A Past $90B in 2014

Value Doubled, Even Without $70B+ Sale of Drugmaker

Orange County-based companies were buyers and sellers in 303 corporate mergers and acquisitions in 2014, a year of robust local deal activity that involved slightly fewer deals and many more dollars.

More Depart Irell in Wake of Hueston’s Move

LAW: ‘Self-contained’ group spins off; NB office sheds 14

Local law firms have been hiring attorneys away from Irell & Manella LLP’s Orange County and Los Angeles offices in the wake of the recent move by John Hueston and Brian Hennigan to form their own firm.

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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.

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.

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.

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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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