Orange County Business Journal

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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.

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.

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.

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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.

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.

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.

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.

Pac Life Offers ‘Swell’ Idea for Younger Investors

FINANCE: ‘Cause-themed’ portfolios include big givers

Pacific Life Insurance Co. has rolled out a research subsidiary that’s targeting younger people with the prospect of adding an element of social consciousness to their portfolios.

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Alternative Lender to Irvine HQ

Quick Bridge Funding LLC, an alternative lender specializing in short-term financing, has moved its headquarters from Orange to Irvine, taking 17,000 square feet at Market Place Center.

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American Vanguard in Deal for European Business

American Vanguard Corp., a Newport Beach-based maker of specialty chemicals and agriculture products, has acquired the European insecticide business assets of Adama Agricultural Solutions Ltd.

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.

Public Companies Pass $200B on Allergan Effect

Drugmaker’s Sale Brings Much of Big Lift; Edwards, Broadcom Chip In; HCP Moves In

Orange County’s 100 biggest public companies combine for more than $207 billion in market capitalization, a gain of 62% from a year earlier.

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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.

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.

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.

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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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