Stories for September 2018
Friday, September 28
We spotlight our 2018 honorees for Innovator of the Year including mortgage-fintech Cloudvirga, Tustin’s 11 Health where founder and bowel-transplant recipient and cancer survivor Michael Seres, spurred on by his own experience, merged data and communications technology to improve the lives of fellow ostomy patients.
Thursday, September 27
Tom Park has been named chief executive of Irvine-based consumer tech firm Incipio Group, the company said on Thursday.
SPORTS: Will move from NFL’s smallest venue in 2020
Forty miles northwest of its current headquarters in Costa Mesa, construction on the new home of the Los Angeles Chargers is moving ahead at fast pace.
Excellence in Entrepreneurship honoree … founded firm 2013 … $140M 2017 revenue projected at digital ad marketer, up 40% … co-founder ConversionPoint Technologies Inc., $60M revenue, which creates and sells products online … earlier developed video course to help people sell online, later adopted by Baylor U. program … perfect score, SAT math portion
Tustin-based Foundation Building Materials Inc. (NYSE: FBM), a distributor of building products, said Thursday it will sell its mechanical insulation business to Dunes Point Capital LP of Rye, N.Y., for $122.5 million.
TECHNOLOGY: Chinese owner may take 8% haircut to unload
Consultants, investment banks and potential buyers are zeroing in on a valuation for Ingram Micro Inc. as chatter picks up again that its Chinese parent is selling the Irvine-based distribution giant.
Leading push in Concord, Calif. … largest U.S. secure testing facility for connected, autonomous vehicles … resume includes head of global cloud, mobility solutions, Ingram Micro, world’s largest IT distributor … senior manager cloud, mobile computing, Cisco Systems … 2016 Harvard exec ed certificate, building smart cities … speaks Italian; enjoys soccer, mountain biking
Wednesday, September 26
Long Beach Airport traffic rose 11% year-over-year in August to 350,000 passengers; year-to-date traffic is up 10% to 2.7 million.
Nékter Juice Bar Inc. in Santa Ana said a franchisee will open 30 locations of the juice and smoothie chain in Florida, Tennessee, Maryland, and Washington D.C. The latter two are new markets for Nékter; the first store should open in Florida early next year.
Willdan Group Inc. (Nasdaq: WLDN) got $17 million in contracts with Colorado school districts.
HEALTHCARE: Upstart Botox competitor goes for $195M
After three years of local job cuts and a shrinking corporate presence, Allergan PLC is investing again in Orange County.
Named to role 2015 … part of Aston Martin Lagonda Ltd. … launched $215K DB11 … parent co. got Moody’s upgrade, September … cashing out 9% and 10% notes with $720M of 6.5% debt … YTD revenue on track for $1B; pretax profit $55M, reversing last year’s loss … global CMO Simon Sproule named to new chief of Americas post; half of company’s board hold regional roles
Tuesday, September 25
RESTAURANTS: Cavanaugh has new ideas, new partner
In recent weeks Doug Cavanaugh knew he was headed to bankruptcy court with the restaurant chain he founded, Newport Beach-based Ruby’s Diners Inc.
Activision unit had bang-bang year … first-person shooter ‘Overwatch’ $1B business in under 18 months … Overwatch League has $20M apiece franchises in LA, SF, NYC, Boston, London, Seoul, Shanghai … Blizzard Arena in Burbank now open for pro players, esports fans … 2014-launched free-to-play card game ‘Hearthstone’ has 70M users … Blizzard approaching 25 years
Monday, September 24
Fountain Valley-based consumer electronics company OrigAudio LLC has been acquired by HUB Promotional Group in Braintree, Mass. for an undisclosed sum.
David Ivers has been appointed artistic director of South Coast Repertory, succeeding Marc Masterson.
Huntington Beach-based Nuvision Credit Union announced Monday that it will merge with Anchorage, Alaska-based Denali Federal Credit Union, effective Oct. 1.
Haddad: Higher Density, Homes Without Garages, Ridesharing
Emile Haddad is experimenting with something that at first glance appears antithetical to the Southern California lifestyle—a home without a garage. And a homeowner who’s not a car owner.
Kaiser Aluminum Corp. in Foothill Ranch bought Columbia, N.J.-based 3D metal printer Imperial Machine & Tool Co. on undisclosed terms.
Distributes wines, spirits western U.S. … No. 2, Business Journal OC-based F&B supplier behind Golden State Foods … No. 8, Business Journal OC private cos.; No. 141, Forbes private cos. … $3.1B sales, 4K workers, 400 local … fifth gen to lead 130-year-old family enterprise … started in warehouse 1996 … USC grad, member of 1990 NCAA Champion volleyball team … Young Presidents’ Org
Custom Content by the Los Angeles Business Journal
At Kaiser Permanente, everyone—myself included—are advocates for total health.
Antique Italian-French Country Vibe for Home
A piece of the European countryside along the shores of Laguna Beach hit the market this month, with an asking price of $28.8 million.
Toshiba Updates Facility; OC iPhone Connections
Costa Mesa-based Veritone Inc. is on a buying spree, closing its third deal in the last month.
233 Units Proposed Along Sunflower, Near 580 Site
The developer of 580 Anton, the first upscale apartment project in the Costa Mesa arts district area in a decade, has a second residential project in the works a few blocks away, just over the city line in Santa Ana.
NY’s Jun Group Opened OC Office in 2015
Irvine-based marketing firm Advantage Solutions Inc. hasn’t slowed down on the acquisition front, despite apparently getting cold feet on an initial public offering.
Aims to Cut Out Fake Botox Sales in China
Allergan PLC (NYSE: AGN) is expanding its worldwide reach.
Carson Kopfl is no different than any other businessman, other than being 13.
Local Boss Says Best He’s Seen in 30 Years
Lewis Cornell, Jacobs Engineering Group Inc.’s top representative in the Western U.S., has his hands full when his company bought Englewood, Colo.-based CH2M Corp. last year.
ARCHITECTURE: ‘California Room’ highlights trends
“The California Room” is designed so the home’s roof covers an outdoor patio.
Sports complex is ‘in the can’ at the OC Great Park
On a clear day, one can see an awful lot going on at the Orange County Great Park in Irvine.
INNOVATION: Three families run organic shop
Love & Purée was launched in Costa Mesa this April to make sure kids eat healthy, fresh and organic.
HEALTHCARE: Seeks $10M+ for Series C
Three’s better than one, according to Ecom Medical Inc.
REAL ESTATE: Latest big-dollar sale near JWA
Plano, Texas-based real estate investor Granite Properties has completed the largest single-property office deal of the year in the John Wayne Airport area, snapping up Newport Beach’s 100 Bayview complex.
Thursday was a good day for boosters of the OC startup-growth ecosystem; UCI Applied Innovation CEO Richard Sudek told the luncheon crowd at our 4th annual Innovator of the Year Awards at Hotel Irvine, that The Cove has grown from 15,000 sq. ft. to 100,000 sq. ft. in four years and now hosts 750 annual events in support of the entrepreneurial sector.
Three-Story Models Address Land Shortage
Kevin Karami and his son Dustin pointed out the differences among the three next-door houses they designed in Irvine’s Great Park Neighborhoods.
Other items of interest Orange County Business Journal Vol. 41, No. 39
The Orange County Museum of Art hired Sarah Jesse as deputy director.
California Rooms, Vertical Building Are Wave of Future
Fireplaces, big backyards, three-car garages and ranch houses are fading away in Orange County.
OC Billings Up 10% For Areas Top 38 Firms
Orange County’s top 38 engineering firms reported another year of growth with a nearly 10% increase in OC billings to $1.2 billion.
OC Billings Top $500M for First Time
It’s been a good year for architecture firms in Orange County, who have benefited from increased work as corporate clients look to reimagine their workspaces, as well as a continuing boom in residential development in the county.
Friday, September 21
Our special report on architecture and engineering highlights the latest trends, the best of the best. Ingram Micro is on the sales block once more and Ruby’s Diner 2.0.
SOFTWARE: Goldman, Carrick among top investors
Business software maker Mavenlink Inc. has laid out an aggressive local expansion plan as it eyes an initial public offering.
20-something tech entrepreneur made waves mid-2017 when paid $35M for Huntington Beach marina … did so again when asked 56K Twitter followers whether he should buy VR headset maker HTC Vive … 56% said yes … Luckey founded virtual reality co., sold to Facebook $2B … Forbes estimates wealth at $730M … Time magazine cover story … Business Journal Person of the Year 2014
Thursday, September 20
Members of Orange County’s business community gathered Thursday at Hotel Irvine for the Business Journal’s fourth annual Innovator of the Year Awards.
Says Alcon Recall Product-Specific
Stockholders of San Clemente-based medical device maker Glaukos Corp. (NYSE: GKOS) got an early Christmas gift last month, as the product failure of a competitor firm in the emerging micro-invasive glaucoma surgical (MIGS) sector sent the company’s stock up about 40% to an all-time high, while adding about a billion dollars to its market value.
Longtime CEO ceded reins to Robert Bouttier May 2012, who stepped down in 2017 as OC 500’s John Boyle named to post … McKernan led group for 21 years, growing SoCal membership 70% to 6.2M, bought AAAs in several states … SoCal AAA is largest in US … began career in Pasadena branch 1966 … led information systems, financial management areas … Business Journal’s OC 50
Wednesday, September 19
Habit Restaurants Inc. said a franchisee will develop nine locations in Eastern Washington and Idaho, with the first ones scheduled to open early next year.
Staffing Boom Grows Sales Nearly 2,000%
When Matthew Blake was asked how many offices Nexem Corp. has nationwide, he hesitated before saying, “That’s a dynamic number. It might be more than 50.”
Left No. 2 Irvine Co. role in 2016 to launch entitlement-development firm … remained adviser to Don Bren …now point man for Bren’s bid to bring Amazon’s HQ2 to Irvine … formal bids were due mid-October … Santa Ana mayor in 1980s and ’90s before current long-term pol OC 500’s Miguel Pulido elected
Tuesday, September 18
University of California, Irvine will be opening the doors to its new 65,000-square-foot “active learning” building next week.
Brea’s West Coast Prime Meats Joins the Herd of Fastest-Growing Private Companies
Craig Nickoloff’s bachelor’s degree in cartography and geography from California State University-Long Beach 44 years ago seems disconnected from his career of running restaurants and supplying them with great meat.
Companies make, sell complex precision components for aerospace, defense, oil and gas industries … R.A. is Markall’s manufacturing arm… 5th-gen OCer … left career as opera singer to earn Chapman MBA through
Monday, September 17
The Philharmonic Society of Orange County in Irvine named Tommy Phillips president and artistic director, effective Oct. 1.
VC-Backed Sock Maker Expands Presence
San Clemente-based sock and underwear maker Stance was already one of Orange County’s fastest-growing private businesses the past few years, even without a stand-alone retail presence in the area or a formalized marketing brand campaign.
Lake Forest-based Johnny Rockets Group Inc. named President Mike Nolan its chief executive, effective Oct. 1, replacing John Maguire, who has left the company.
Montage Hotels & Resorts will manage Montage Big Sky in Montana when it opens in 2021. The resort getaway project broke ground Friday in a partnership of Montage parent Montage International in Irvine and CrossHarbor Capital Partners LLC in Boston.
Oversees investment-grade, high-yield, muni, other business … co-manager, with Mihir Worah, Scott Mather, Total Return Fund, ex-Bill Gross kingdom; $75B AUM … No. 5, Morningstar, up from No. 63 in 2016 … manager of year 2012, fixed-income fund, finalist 2010 … PIMCO’s Investment Grade Corporate Bond Fund (PIGIX) topped category past 15 years; $11.5B AUM … B.A. U. Mich.; MBA U. Chicago
Sales Up; Partnering With Asher House in Campaign
Cypress-based Mitsubishi Motors North America Inc. is charging ahead with its “Drive your Ambition” global campaign.
Forges Recent Partnership With N.C.-Based Provider
It’s been a good month for Mission Viejo-based Mynd Analytics (Nasdaq: MYND), a data analytics firm whose products help doctors provide better and more personalized mental health services.
Others Reinvented Themselves in the Roundup of Fastest-Growing Private Cos.
The Business Journal’s 2016 and 2017 lists of fastest-growing privately held firms sported a statistical anomaly.
AUTOMOTIVE: Firm uses AI to find defective parts
The nation’s largest auto safety recall a decade ago provided a foundation to build one of the fastest-growing startups in Orange County.
MANUFACTURING: Firm keeps growing like ‘gangbusters’
Online retailer MatterHackers Inc. set out to make desktop 3D printing more accessible to consumers by helping them weed through the plethora of machines and accessories available on the market.
SERVICES: Ahtna Design wins fans for its construction expertise
An Alaska-based firm owned by an indigenous tribe is seeing its construction management firm do quite well in Irvine.
Xentaurs LLC, a fast growing IT consultancy established in 2016, has relocated and expanded into new offices at University Research Park for its new Irvine headquarters.
EDUCATION: six-story structure to hold new hires
Work has started on a sizeable new science and engineering facility at the University of California-Irvine, designed to foster cross-disciplinary research in engineering, computing and physical sciences.
HEALTHCARE: $95M commitment; OAB focus
Urovant Sciences Ltd., an Irvine-based clinical-stage biopharma company focused on developing and commercializing drugs for urologic conditions, has inked a deal for a second product candidate.
TECHNOLOGY: distributor is ‘predictor of marketplace’
Rand Technology Inc., an Irvine-based company that has no recurring revenue, notched a 160% two-year growth rate for the period ended June 30. Founder and Chief Executive Andrea Klein, who views the lack of predictability as a challenge rather than a problem, has figured out a way to bring more stability to Rand’s bottom line and boost its revenue amid fears of looming trade war.
FINANCE: Northwestern icon to double OC size
Orange County has about 3,000 middle-market companies, more than the 700 companies in Portland and 2,000 in Seattle area.
INNOVATION: Largest co-working lease in OC
WeWork Inc. has plans to open the largest co-working space in Orange County, at the newly-built Boardwalk office development near John Wayne Airport.
MEDIA: Brian Calle’s plans come amid lawsuit
Irvine’s growing base of community newspapers will soon have a new entrant, one led by the former editorial page editor of the Orange County Register.
REAL ESTATE: Office to be converted to industrial
One of Huntington Beach’s largest office buildings has sold, and is expected to make way for an industrial park.
Signs of the Times
The leaves don’t change much in Irvine during the fall; the best sense you’ll get that November is approaching in OC’s fastest-growing city is the fast-growing collection of political signs dotting the area’s main thoroughfares, which have been popping up since before Labor Day. Anyone hoping for a respite in negativity and obfuscation in the city’s campaigning (which peaked with June’s Veterans Cemetery referendum) is bound to be let down.
On Aug. 31, Wells Fargo presented Hope Builders with a $100,000 check at Angel Stadium. The donation enables Hope Builders to continue empowering disadvantaged youth with job skills and support that lead to enduring personal and professional success.
The Great Recession Ten Years After Fifth in a Series
Irvine-based New Century Financial’s start was meteoric. By design. We charged out of the gate, raising venture capital in late 1995, making loans in early 1996, $1 billion subprime mortgages in our first 18 months. That burst supported our IPO in June 1997 and Ernst & Young named us Orange County Entrepreneurs of the Year in 1998.
Other items of interest Orange County Business Journal Vol. 41, No. 38
Allergan PLC is buying Newport Beach-based Bonti Inc. for $195 million.
Sept. 17-26, 2018
Inside OC With Rick Reiff (KDOC-TV), Sunday 5:30 a.m.; (KOCE-TV/PBS SoCal), Tuesday 1 a.m., Repeats Friday 2:30 a.m., 9:30 a.m., 5 p.m., Saturday 4:30 p.m., Sunday 11 a.m. and 5 p.m., Monday 12:30 a.m., Guests (Sept. 23): TBA
Sales and leases of offices, industrial buildings, retail space and apartments
17771 Cowan LLC sold an office building to Encore 5C LLC for $17.5 million, or $287 per square foot.
New builds are booming in Orange County, increasing demand and creating a need for more labor. Construction laborer wages grew an average of 7% per year for the past two years and 30% over wages at the dawn of the recession in 2007. Despite wage increases, companies are struggling to hire sufficient labor. Total employment is 29% below the prerecession high (see graphic, opposite), and the demand for new multifamily and office buildings makes it difficult for contractors to keep up.
Soccer Club Plays Online; One Stop in Quick Deal
The Boeing Co.’s sprawling Defense, Space and Security division in Huntington Beach will not benefit from the unit’s new $805 million contract from the Department of Defense to manufacture the U.S. navy’s first carrier-based drone.
100-Unit Project on Street Busy With Apartments
The city of Laguna Niguel could soon see one of its largest for-sale housing developments in years go up on an office site near Crown Valley Road and the San Diego (5) Freeway.
Friday, September 14
An affiliate of Anaheim-based Marwaha Group Inc. paid $22.7 million for Hampton Inn Carlsbad in North San Diego County; the deal closed Aug. 31.
Stance is betting on stores, OC’s fastest-growing private companies are bursting at their annual sales seams—and all are busting out of the pages of this week’s Business Journal.
Allergan PLC announced it will buy Newport Beach-based Bonti Inc. for $195 million.
Thursday, September 13
$1B Valuation, But Distressed Seller May Cut Price
Two of Orange County’s poshest coastal resorts are back on the block and might be worth nearly $1 billion combined based on a hot hotel market and the properties’ prominence.
Also COO … resume includes Unocal, Times Mirror, PepsiCo … numerous corporate boards … wife, Dee … former chairman New Majority … backs, serves board, former chair Segerstrom Center for the Arts, esp. dance programs … boards: Mind Research Institute, Brandman U. … lives on Lido … golfer … former assistant, Nixon White House … UCLA political science grad
Mountain Mike’s Pizza LLC hired Jim Metevier as president and chief operating officer.
San Francisco’s BPM LLP, one of the 50 largest accountancies in the country, is entering Orange County with the purchase of Santa Ana’s Kramer & Olsen Accountancy Corp.
Wednesday, September 12
Launched sock, underwear maker 2009 with Aaron Hennings, Ryan Kingman, Taylor Shupe, Richard Alden, John Wilson … Nordstrom, Footlocker … NBA, MLB deals … $76M backing, 2014-15—August Capital, Kleiner Perkins, Mercato—helped it launch retail stores; has six, including SoHo, Disney Springs, outlet malls … Kearl angel invests in business software and Uber
INNOVATION: OC50 vet CEO of Concierge Key
Richard Afable didn’t stay retired for long. The prominent Orange County healthcare industry veteran who stepped down as chief executive of St. Joseph Hoag Health in Irvine in December, recently took the chief executive role at Newport Beach-based Concierge Key Health LLC, a 1-year-old startup firm that created a mobile app for on-demand access to medical specialists.
Portal Languages in Costa Mesa plans six franchised locations to add to three sites it has opened so far in OC.
Rossignol Group, a French maker of ski, snowboard and biking products, named Scott Rittschof to a new position as senior vice president of its global bicycle business, based in Irvine.
APPAREL: About $117M offering; sales, stores up
Irvine-based Tilly’s Inc.’s co-founders are picking an opportune time to cash out a sizeable portion of their holdings in the youth fashion and footwear chain.
NB wealth manager … firm, affiliates $6.8B AUM, $38M revenue … Financial Times top-300 U.S. registered investment advisers … former Forbes top-50 wealth manager … lives OC; firm L.A.-based … LABJ Best Places to
Tuesday, September 11
Tustin-based Avid Bioservices Inc. (Nasdaq: CDMO) reported fiscal first-quarter revenue fell 54% to $12.6 million from the same period a year ago but the figure topped analyst estimates and the company reaffirmed full year revenue guidance in a range of $51 million to $55 million.
T2 Hospitality in Newport Beach bought a quarter-acre of downtown Denver land for $3.55 million, a block from a one-third-acre parcel for which it paid $10 million in 2015, a local news report said.
Monday, September 10
NONPROFITS: Nicole Suydam goes home to Goodwill of OC
John Bon Jovi once said, “Who says you can’t go home?” Well how about twice?
Longtime exec at OC’s second-largest landowner, ranch developer … added president’s role this year … 20+ years with company after banking career, including Western National, Security Pacific, Crocker, Wells Fargo … working with RMV chairman, CEO Tony Moiso to groom next gen of leadership … supports Laura’s House, United Way, March of Dimes … Cornhusker: B.A., U. Nebraska
TECHNOLOGY: Former Microsemi CEO looking for small caps
James Peterson is back in business.
Promoted to current role mid-2016 … previously led SoCal region … 26 years at Northern Trust, last slot: global head of family offices, private investment … clients at $200M+ in assets … bylines Business Journal Market Watch page … Maltese-Poodle named Wrigley after Cubs’ friendly confines … mom ‘the ultimate role model’ … three words: ‘grit, humility, fun’
REAL ESTATE: $106M deal; creative-office perks planned
The Atrium building in Irvine, one of the most unique office properties in the area around John Wayne Airport, has a new owner—and plans for a major renovation.
FINANCE: CerraCap pair tries to hit all out of the park
CerraCap Ventures LLC co-founders Saurabh Ranjan and Saurabh Suri decided to try a different model when they began the venture capital firm in 2015.
Sales and leases of offices, industrial buildings, retail space and apartments
Solana Beach-based Midtown National Group sold three-building retail center The Shops at Yorba Linda to Los Angeles-based San Jose Central Travel for $7.8 million, or $963 per square foot.
Other items of interest Orange County Business Journal Vol. 41, No. 37
Irvine-based medical and dental practice management service provider Quality Systems Inc. said it changed its corporate name to NextGen Healthcare Inc. Its stock started trading under the symbol NXGN today. “Our clients have known us as NextGen Healthcare for nearly 20 years,” Chief Executive Rusty Frantz said. “Today’s announcement is a significant milestone in our journey of aligning and simplifying our organization.” Meanwhile, Garden Grove-based cannabis packaging company Kush Bottles Inc. switched its name to KushCo Holdings Inc., saying it sells a wider variety of products and services than bottles.
Sept. 10-20, 2018
Inside OC With Rick Reiff (KDOC-TV), Sunday 5:30 a.m.; (KOCE-TV/PBS SoCal), Tuesday 1 a.m., Repeats Friday 2:30 a.m., 9:30 a.m., 5 p.m., Saturday 4:30 p.m., Sunday 11 a.m. and 5 p.m., Monday 12:30 a.m., Guests (Sept. 16): Brian Calle; Gustavo Arellano; Tom Johnson
Another Island Home Hits Market for $12.5 Million
Maybe the third time will be the charm for Precision Castparts Corp. Chief Executive Mark Donegan and his wife, Pamela.
Microsemi Chip OK’d For Outerspace Work
Irvine-based data storage products maker Zadara Storage Inc. closed a $25 million Series C funding round led by Israel Growth Partners, which was founded by a Microsoft Corp. veteran.
Site Near MainPlace Mall To Get 727 Residences
A nearly 12-acre site close to Santa Ana’s MainPlace Mall that’s being eyed for a residential development has changed hands for an eye-opening price.
Sunday Night Backing Features Innocean Series
Hyundai Motor North America will be getting more playing time with football fans this season.
Clinicians Vital In Bridging Application Gap
The future of healthcare is a technology-driven one, with machine learning, deep learning and other aspects of artificial intelligence all crucial elements.
Spinal Singularity Inc., a seed-stage medical device company that’s developing bladder-management products for people suffering from spinal injuries, has gotten a new source of funds.
SERVICES: Says move to better serve customers
National Technical Systems Inc., one of the nation’s largest testing companies, has relocated its headquarters from Calabasas to Anaheim.
REAL ESTATE: Panattoni, Stillwater pay $12 million
Panattoni Development Co., one of the country’s largest industrial developers, plans to move its headquarters from Newport Beach to Irvine, after investing in two buildings last owned by Allergan PLC.
This past spring, the top spot at Goodwill of Orange County opened. That’s the Yankee manager job of nonprofits—top spot at the top charity, tops 1,500 employees, nearly $125 million annual revenue, over 22,000 folks helped each year—veterans, disabled—to become self-sufficient and join the workforce, always a good thing.
Dendreon Plans to Grow; Peregrine Drops Off List
Compared to robust activity in the medical device sector, the eight biggest drugmakers with headquarters or significant operations in Orange County reported lackluster local employment of 2,153 in the year ended July 31, down nearly 20%.
Top Four Increase Headcount Above Average
Medical device makers with operations in Orange County added over 900 employees in the year ended July 31, up 4.5% year-over-year, according to Business Journal research. The top four reported above-average growth, fourth-ranked Microvention Inc. in Aliso Viejo up 29%, the biggest move.
Care Tailored to Execs, Seniors, Stretching Fans
Consumers are changing the shape of healthcare with their choices, giving rise to the new product category of “wellcare,” according to a PricewaterhouseCoopers report released last year. It refers to products and services that help people stay healthy, youthful-looking and in shape.
Friday, September 7
The return of Jimmy P, the new breed of VC in Costa Mesa and after a six-month search see who landed the top job at the top nonprofit in the county.
Atlantic Aviation Named Kirsty Fournier interim general manager of its John Wayne Airport fixed base operations, replacing Mike Phegley.
Quality Systems Inc. (Nasdaq: QSII), an Irvine-based medical and dental practice management service provider, announced today that it has changed its corporate name to NextGen Healthcare Inc., effective immediately.
AUTOMOTIVE: $150M+ of recent regional dealer sales
Sales of automotive dealerships are in overdrive. That means Irvine-based sell-side advisory firm Kerrigan Advisors is enjoying life in the fast lane.
Founded 1997 … owns marina cos. … design, build, own, operate … Bellwether part of $300M Dana Point Harbor bid … group includes Burnham Ward, R.D. Olson Development … Bellwether portfolio includes agriculture, logistics, manufacturing, tech … resume includes chief exec cruise ship operator Ambassadors International … bachelor's Dartmouth … son of OC 500’s Peter Ueberroth
Thursday, September 6
Smile Brands Inc., an Irvine-based dental business support services provider, named Kevin Rogus as vice president of mergers & acquisitions.
ShiftPixy Inc. said it will offer delivery driver employees to fast food and fast casual restaurant clients.
Stir Foods LLC in Orange and Pacifica Foods, which has a facility in Corona, bought an Oceanside-based salsa maker on undisclosed terms.
Six affiliates of Ruby’s Diners Inc. filed for bankruptcy August 29, including Ruby’s Quality Diners LLC, Ruby’s SoCal Diners LLC, and four covering specific locations in Huntington Beach, Laguna Hills, Oceanside, and Palm Springs.
REAL ESTATE: JWA portfolio has 8 buildings, totals 520,000 SF
An eight-building portfolio of office buildings in Newport Beach and Irvine has sold for about $160 million, the most expensive Orange County office transaction so far this year.
One year under his belt in current gig at business school … enticed 2016 by Dean Stephen Christensen, OC 500 … a focus: helping students develop business plans … founded Pick Up Stix going on 30 years … sold 2001, $50M … it maintains OC presence … 2017 founded nonprofit OC Music & Dance … 21K-SF space … group’s tagline: ‘nurture, inspire, empower’
Wednesday, September 5
HEALTHCARE: FDA OK for Hydrus Microstent
Irvine-based Ivantis Inc., an 11-year-old ophthalmic device maker of eyelash-sized stents used to treat glaucoma, couldn’t pick a better time to bring its first product, Hydrus Microstent, to market in the U.S.
$500M revenue, 750 workers … top 10 OC by revenue, second-largest by employee count … begun 1996 as T-shirt maker … now more than six brands … private label for others, own marks … South African native … PE firm
Tuesday, September 4
Cypress-based Hybrid Apparel promoted David Lederman from chief operating officer to president.
Hotels in Newport Beach and Huntington Beach topped 90% occupancy in July, according to a monthly report from Los Angeles-based CBRE Hotels.
Cheba Hut Franchising Inc. in Ft. Collins, Colo., wants to open eight locations in Orange County, part of a push for at least 38 shops in Southern California.
50+ Years On, Imagine Dinner at Walt’s House
Disneyland Resort has evolved to become an epicurean mecca for those looking for a fun yet serious dining experience.
Top-ranked teams … NYT best-sellers … name follows ‘Bill O’Reilly &’ on half dozen ‘Killing’ tomes—Lincoln, Kennedy, Patton, Reagan, Jesus, the Rising Sun … 2017 volume: ‘Killing England’ solo efforts focus on
Monday, September 3
REAL ESTATE: 15 acres in Santa Ana; $43.5 million
Ricoh Electronics Inc., a Tustin-based maker of digital copiers, printed circuit boards, scanners, printers and other products that’s long been one of Orange County’s largest manufacturers, has sold one of its big area properties, a nearly 15-acre site it owned on Red Hill Avenue in Santa Ana.
In Anaheim, WAR once stood for Westin Anaheim Resort … now it describes the acrimony over $4 billion in development in the resort area. Disney just extended an “olive branch,” and the city took it, ending two tax goodies for the resort operator—the 70% rebate of the TOT—transient occupancy tax—for four-diamond hotels, and a promise not to impose a new ticket tax on the theme park
Drawn by Their Stories Of Struggles and Dreams
It was 1999. Granite Investment Group Chief Executive Allen Boerner was one of about 30 guests, most of them donors, at a special graduation event. He attended somewhat reluctantly, his wife, Susan, having gently nudged him. It was the first Guardian Scholars graduation celebration, she said, and she really wanted to go.
The Audi Mission Viejo/Infiniti of Mission Viejo/Volvo Mission Viejo 2018 Golf Classic was held on June 7 at Pelican Hill Golf Club.
CureDuchenne Leverages Venture Capital Investments
Paul Miller, co-founder of the CureDuchenne nonprofit group and chief operating officer of Irvine-based Patman Meat Group, recalls the first time he met the woman who would become his wife and the mother of their son, Hawken.
Updated Rankings Focus On Local Contributions
This year’s Business Journal list of corporate and private foundations lost a few names after we narrowed rankings to firms most connected to Orange County charities, as opposed to earlier lists based on both local and total contributions.
Richard Proposed Cash Infusion, Bigger Shows
The revitalization of a theater takes an investment of time, talent and treasure. Two years ago, Laguna Playhouse received an infusion of all three, and has been on an upward trajectory ever since.
‘It’s Our Brand. It’s Who We Want to Be as a Community’
Leaders of Orange County’s top corporate, philanthropic, government and faith-based organizations gathered in February to officially announce United to End Homelessness. The initiative boasts a coalition of nonprofit and private interests joining to create solutions for a pressing problem: growing homelessness in a county with some of the country’s wealthiest cities.
MARKETING: Adds frequency discounts, interstate portability
For those of us who never dedicated windshield space to the toll roads transponder and are still chasing the 4-inch plastic box all over the dashboard—relief is on the way.
Costa Mesa-based Opkix Inc. raised $5.7 million in a Series B round as it nears production on a premium, wearable smart camera.
Latest Switch: Avelar Will Head R&D Team
Irvine-based Evolus Inc. (Nasdaq: EOLS), a medical aesthetics company that went public this year, continues to build out its management team under the direction of new Chief Executive David Moatazedi.
Mom and Pop Firm Wears ‘White Hats’
A group of hackers is working out of a 7,000-square-foot office in Lake Forest.
Ducks Fans Can Leave ‘Zambonis’ at Home
The Honda Center wants to give concert and sports fans a lift.
Offices Near 23-Home Lido Villas Development
Landsea Homes has moved a little closer to the sea, and to one of its more upscale developments.
Econolite in $22M Pact; Broadcom Closer to Deal
One of Blizzard Entertainment Inc.’s most popular titles will be available later this year on Nintendo Switch, a first for the Irvine-based publisher.
REVX-Red Hill Inc. sold an industrial building to Golden State Orthopaedics Inc. for $2.4 million, or $304 per square foot.
Inside OC With Rick Reiff (KDOC-TV), Sunday 5:30 a.m.; (KOCE-TV/PBS SoCal), Tuesday 1 a.m., Repeats Friday 2:30 a.m., 9:30 a.m., 5 p.m., Saturday 4:30 p.m., Sunday 11 a.m. and 5 p.m., Monday 12:30 a.m., Guests (Sept. 9): OC Register Investigative Reporter Teri Sforza; addiction doctor Daniel Headrick; Hillside Laguna Operator Omar Turbi
INNOVATION: VR firm gets local funding
“I wanted to take people to another world,” Spaces Inc. co-founder and Chief Executive Shiraz Akmal told the Business Journal at the preview event of its new Terminator VR experience: “Terminator Salvation: Fight for the Future.”
At Disneyland Resort’s request, Anaheim City Council voted unanimously to end agreements with the park that would’ve granted tax breaks in exchange for investment in the resort’s hotel and parks. The agreements involved whether tickets to the resort’s two parks would be taxed, and a transient occupancy tax rebate from a luxury hotel Disney separately suspended development of two weeks ago.
TECHNOLOGY: Reports first annual profit in 18 years
Wall Street is warming up to networking and Internet of Things equipment maker Lantronix Inc. after years of lackluster performance.