Orange County Business Journal

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Pimco Communications Chief to eBay

eBay Inc. has tapped the global head of corporate communications for Pacific Investment Management Co. as its chief communications officer.

Telogis Raises $25M in New VC Round

Aliso Viejo-based Telogis Inc. raised another $25 million in venture capital funding, according to a filing with the Securities and Exchange Commission.

Pac Merc Expands Hollywood Niche

FINANCE: Beverly Hills-based unit lends to A-list movies

Costa Mesa-based Pacific Mercantile Bank has ramped up its entertainment financing business, an area that has become a key contributor to growth as the bank sharpens its focus on commercial lending.

Apex Acquires New Jersey Water Park

Apex Parks Group, an Aliso Viejo-based owner and operator of leisure parks, acquired Sahara Sam’s Oasis Indoor and Outdoor Water Park in New Jersey on undisclosed terms.

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Broadcom in $37B Deal

Irvine-based chipmaker Broadcom Corp. has agreed to be acquired by Avago Technologies Ltd. for $37 billion.

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Pacific Premier Hires CFO

Irvine-based Pacific Premier Bancorp Inc. has tapped Allen Nicholson as chief financial officer.

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Anaheim Lighting Products Maker Sold

Anaheim-based lighting products maker Intense Lighting LLC has been acquired by Leviton Manufacturing Co., a Melville, N.Y.-based manufacturer of electrical wiring equipment.

Telogis Raises $25M in New VC Round

Aliso Viejo-based Telogis Inc. raised another $25 million in venture capital funding, according to a filing with the Securities and Exchange Commission.

Pac Merc Expands Hollywood Niche

FINANCE: Beverly Hills-based unit lends to A-list movies

Costa Mesa-based Pacific Mercantile Bank has ramped up its entertainment financing business, an area that has become a key contributor to growth as the bank sharpens its focus on commercial lending.

Apex Acquires New Jersey Water Park

Apex Parks Group, an Aliso Viejo-based owner and operator of leisure parks, acquired Sahara Sam’s Oasis Indoor and Outdoor Water Park in New Jersey on undisclosed terms.

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OC Adds Jobs in April

Orange County employers added 3,800 jobs in April, helping drive down the unemployment rate to 4.1%.

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Frost Data Capital Part of Investor Group

Frost Data Capital, a San Juan Capistrano-based investment firm and start-up incubator, joined other venture investors to back Maana, a developer of big-data search engine technology.

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Theme Parks Operator Buys in NJ

Apex Parks Group, an Aliso Viejo-based owner and operator of leisure parks, has acquired Sahara Sam’s Oasis Indoor and Outdoor Water Park in New Jersey.

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Marcum Names Irvine Partner to Head CA Tax Business

National accounting firm Marcum LLP has named John Eckweiler, a partner in its Irvine office, partner-in-charge of tax and business services for its California operations.

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Telogis Gets $25M Investment

Aliso Viejo-based Telogis Inc. has raised another $25 million in venture capital funding.

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First Foundation Starts Insurance Unit

Irvine-based banking and wealth planning firm First Foundation Inc. has launched a property and casualty insurance brokerage unit.

Mortgage Lender Doubles Local Office

Foothill Ranch-based mortgage lender loanDepot LLC doubled its Orange County office space to more than 238,000 square feet to accommodate its growing direct-lending center.

Hedge Fund Execs Go Long on Own Brand of Energy Drink

MARKETING: Pelerin pair behind Positive Energy brand

Positive Energy Beverages LLC is betting that a continued rise in consumer demand for “better-for-you” food products will be better for the Irvine-based startup, too.

Employment Agencies Continue Growth With 2% Jump

21 Firms Have $720M In Locally Generated Revenue

The largest staffing firms in Orange County combined for a modest increase in revenue last year, coming off a small dip in 2013.

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Midday Stock Roundup

Stock indices were down in midday trading.

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Confie Buys in NY State

Huntington Beach-based insurance broker Confie Seguros has acquired three brokerage firms in Buffalo, N.Y.

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Pimco’s Head of Equities to Leave

Newport Beach-based Pacific Investment Management Co. said its London-based chief investment officer of global equities is stepping down after a little more than a year on the job.

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Midday Stock Roundup

The S&P 500 was up 0.13% to 2,101.80.

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LoanDepot Doubles Space, Plans to Hire 1,000

Foothill Ranch-based mortgage lender loanDepot LLC has doubled its Orange County office space to more than 238,000 square feet to accommodate its growing direct-lending center.

Santa Ana Company Builds N.C. Factory

MANUFACTURING: $7.5M for 204,000-square-foot plant

Santa Ana-based natural gas fuel systems developer Agility Fuel Systems plans to open a $7.5 million factory in North Carolina later this year, an expansion driven by a growing demand for natural gas-equipped vehicles.

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Pimco’s Total Return Loses ‘Biggest’ Title

Pacific Investment Management Co.’s signature fund, the Total Return, is no longer the world’s biggest bond fund.

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Banc of CA Posts Q1 Profit

Irvine-based Banc of California Inc. swung to a profit in the first quarter, logging $11.7 million in net income versus a loss of $161,000 in the same period last year.

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Morgan Drexen Files for BK

Costa Mesa-based debt settlement services company Morgan Drexen Inc. has filed for bankruptcy.

SBA Loans Jump, National Lenders Lead Way

FINANCE: Value rises 52%; number of loans up 35%

Small-business lending in Orange County rose substantially in recent months, according to this week’s Business Journal lists based on information from the U.S. Small Business Administration.

Software AG Leads Predixion VC Round

Aliso Viejo-based Predixion Software kicked off its latest venture funding round with Germany-based Software AG, one of the largest global software companies, as the lead investor.

Lake Forest Lender Starts New Division

Lake Forest-based lender Clearinghouse Community Development Financial Institution is launching a real estate investment division.

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Morgan Drexen Files for BK

Costa Mesa-based debt settlement services company Morgan Drexen Inc. has filed for bankruptcy.

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American Vanguard Buys Herbicide Unit from DuPont

American Vanguard Corp., a Newport Beach-based maker of agricultural chemicals, has through its Netherlands-based international subsidiary, acquired the assets of an herbicide business from E. I. du Pont de Nemours and Co.

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Bernanke Joins Pimco

Pacific Investment Management Co. has tapped former Federal Reserve Chairman Ben Bernanke as a senior adviser.

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Predixion’s Series D Round Led by Software AG

Aliso Viejo-based Predixion Software has kicked off its latest venture funding round with Germany-based Software AG, one of the largest software companies globally, as the lead investor.

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Opus Q1 Loans, Deposits Up; Profit Slips

Irvine-based Opus Bank posted $11 million in first-quarter net income, down 16% from the same period a year earlier.

Who’s Your Uncles?

Real Estate Vets Try Crowd-Investing Model for REIT

Rich uncles are nice to have—and that might be the play that real estate investment veterans Ray Wirta, Harold Hofer and Howard Makler are going for with their RichUncles LLC real estate crowd-investing platform.

Recycler Bought By Canada Company

Anaheim-based recycling services provider Certified Recycling was acquired by Tricor Pacific Capital, a Vancouver-based private equity firm with an office in Chicago. Terms of the deal were not disclosed.

Wet Seal’s New Posture

Fashion Vet Back at Helm as Slimmed-Down Retailer Sets Out on Fresh Start

The Wet Seal brand is out to get back on track with fashion-conscious young females.

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Pac Life Sells Pension Business to Goldman Sachs

Newport Beach-based Pacific Life Insurance Co. has sold its pension advisory business in New York to Goldman Sachs Assets Management.

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Pac Merc Restructures SBA Group, Reports Q1 Loss

Costa Mesa-based Pacific Mercantile Bancorp Inc. swung to a loss in the first quarter, affected by a one-time cost related to a “strategic realignment” of its Small Business Administration lending group.

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Pacific Premier Loans, Deposits Up; Profit Down on Acquisition Costs

Irvine-based Pacific Premier Bancorp Inc. posted $1.8 million in first-quarter profit, down 32% from the same period a year ago.

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Anaheim Recycling Company Sold

Anaheim-based recycling services provider Certified Recycling has been acquired by Tricor Pacific Capital, a Vancouver-based private equity firm with an office in Chicago.

Q&A

The Business Journal’s Jane Yu asked a group of local chief financial officers how they perceive their roles in building corporate culture. The CFOs also discuss factors about Orange County that have an impact on the development of culture. Edited excerpts of their responses follow.

Security Bigger Part of CFO Role as Big Data Grows

Trend Affects Company Image, Viability, Execs Say

Chief financial officers are increasingly becoming an essential part of the conversation about data security, a topic much discussed today as businesses rely more on collection and analysis of “big data” for various aspects of their operations.

Solar Outfit Buys Los Al Aerospace Firm

Los Alamitos-based Alliance Spacesystems LLC, which manufactures composite structures for the aerospace industry, was acquired by SolAero Technologies Corp., an Albuquerque, N.M.-based solar panels maker.

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OC Adds Jobs in March, Unemployment Down

Orange County employers added 9,800 jobs in March, helping drive down the unemployment rate to 4.4%.

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HB Insurance Brokerage Acquired

Madison Risk & Insurance Services in Huntington Beach has been acquired by Itasca, Ill.-based Arthur J. Gallagher & Co. on undisclosed terms.

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Plaza Q1 Profit Slips on Acquisition Costs, Lending Up

Irvine-based Plaza Bank posted $1.6 million in first-quarter profit, down about 5% from the same period a year ago.

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Los Al Aerospace Company Acquired

Los Alamitos-based Alliance Spacesystems LLC, which manufactures composite structures for the aerospace industry, was acquired by SolAero Technologies Corp., an Albuquerque, N.M.-based solar panels maker.

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