Huntington Beach-based Quiksilver Inc. is selling clothing business Hawk Designs Inc. for $19 million to Cherokee Inc. Sherman Oaks-based Cherokee owns several brands, including its namesake denim business, along with Liz Lange, Sideout and Teen Hearts. Quiksilver said proceeds from the sale will go toward paying down debt and toward growth initiatives in emerging markets.
Irvine-based apparel company The J Fin Group signed a licensing agreement with eyewear maker Spy Optic Inc. J Fin’s portfolio also includes brands such as Ambig and Split, both in Irvine. J Fin will design, make and sell Spy-branded clothing for men and boys, along with accessories.
Carol Booth Olson, an associate professor of education at University of California, Irvine, received an $11 million grant from the U.S. Department of Education. The money is earmarked for expanding a reading and writing intervention program for some 100,000 English-language learners in middle school and high school in predominantly low-income areas throughout Southern California.
Masimo Corp. in Irvine said it will expand sales in India, where it expects demand for medical devices to increase in the country’s growing economy. It’s already hired workers in several cities in India. The company makes devices such as pulse oximeters for noninvasive procedures and monitoring. It has a worldwide workforce of about 3,000.
Irvine-based eye device maker AqueSys Inc. raised $43.6 million in a fourth round of funding. It said it plans to use the money to “accelerate the execution and attainment of our clinical, regulatory and commercial goals.” The company is developing an implant for treating glaucoma.
Foothill Ranch-based Skilled Healthcare Group Inc. hired Korn/Ferry International to help the nursing home operator conduct a search for a successor to former President and Chief Operating Officer Jose Lynch. Lynch, who was with the company since 2002, is leaving to “pursue other professional opportunities,” according to a company statement.
A federal jury upheld a patent Edwards Lifesciences has for its Sapien heart valve, finding Minneapois-based Medtronic Inc. willfully infringed on the patent. The two companies compete in the nonsurgical medical devices space. Edwards, based in Irvine, was awarded about $394 million in damages in the case.
Travel + Leisure magazine rates three OC hotels among the best in the world. Montage Laguna Beach, St. Regis Monarch Beach Resort in Dana Point and The Resort at Pelican Hill in Newport Beach made the list of 500 hotels based on the publication’s annual survey of readers.
The Waterfront Beach Resort named Paulette Fischer general manager of the 290-room hotel. Fischer has been with the Huntington Beach property since its 1990 opening. She succeeds J.D. Shafer, who was named general manager of Hotel Irvine last year.
Audiofly Pty. Ltd., an Australian headphone manufacturer with North American headquarters in Laguna Hills, named Blue C its advertising agency of record for the U.S. The Costa Mesa-based agency will promote the “Club Life by Tiesto” brand of in-ear headphones—a collaboration with world-famous electronic dance music DJ and producer Tiesto. Ad spending wasn’t disclosed.
An audit of Orange County Great Park in Irvine revealed what some observers called financial irregularities, including that some contractors billed the city of Irvine much more than original estimates and that some services fees were paid twice. The City Council commissioned the audit last year.
American Restaurant Holdings Inc. in Irvine bought the Fronteras Mexican Grill & Cantina restaurant in Alhambra on undisclosed terms. American Restaurant is a holding company specializing in fast-casual and casual restaurants.
ECONOMIC INDICATOR
DOWN: Orange County apartment rents, which averaged $1,700 a month in the fourth quarter, a drop of $8, according to apartment data provider RealFacts. It was the first decrease in average rents here since 2010.
