Apparel
Asics America Corp. said it surpassed $1 billion in sales for the first time last year, a 14.9% year-over-year increase. The Irvine-based footwear and apparel company, part of Japan-based Asics Corp., oversees the U.S., Brazil, Canada and Mexico markets. The company’s 2010 sales were $680 million.
Amusement
Walt Disney Co. named Bob Chapek chairman of Walt Disney Parks and Resorts, making him the Disneyland Resort’s top executive. The 22-year company veteran was most recently head of its consumer products division. He previously oversaw Disney’s content distribution and is credited with its “vault strategy” in which video versions of Disney movies are distributed for limited times, then kept off the market to boost demand.
Automotive
Costa Mesa-based Fisker Automotive and Technologies Group LLC is mulling three options for a possible name change, according to a source privy to the discussions. The automaker is debating changing its name to eLux Technology, Elux Automotive or maintaining its current name. “No decision has been made,” the source told the Business Journal, contrary to some published reports circulating online.
Education
Corinthian Colleges Inc. got a reprieve from the California Student Aid Commission for one of its subsidiaries in the state, but its division in Canada filed for bankruptcy protection there after regulators closed the local campuses, according to news reports.
Finance
Entrepreneur Media Inc. in Irvine invested in AlleyNYC, a company that leases shared work spaces on an hourly basis. New York-based Vandewater Capital Holdings LLC was the lead backer for the $16 million first round of growth capital. The private equity firm said AlleyNYC will use the funds to open a 40,000-square-foot location in the Chelsea section of Manhattan.
Newport Beach-based private equity firm Solis Capital Partners LLC invested in New Hudson, Mich.-based manufacturer ICOM North America. Terms of the investment weren’t disclosed. Solis typically invests in companies with revenues of $15 million to $100 million. The latest deal is the sixth investment in Solis’ second fund, which closed in 2013 with $61 million in commitments.
Healthcare
Allergan Inc. Chief Executive David Pyott is in line for a severance payment of $100 million or more as a result of Actavis PLC’s pending buy of the Irvine-based drugmaker, according to a federal filing. He would receive about $89 million in cash and stock of the combined company in exchange for unvested equity awards, Allergan said in a Feb. 19 Securities and Exchange Commission filing. The filing shows that Pyott would get $9.9 million in cash, plus $2 million for accrued pension and health benefits for three years. Dublin, Ireland-based Actavis is acquiring Allergan in a deal currently valued at $70.7 billion. Pyott is expected to exit his roles as chairman and chief executive once the deal is complete.
Saddleback Memorial Medical Center, with campuses in Laguna Hills and San Clemente, placed among the top 50 hospitals in America, according to review organization Healthgrades Operating Co. Hoag Memorial Hospital Presbyterian, with campuses in Newport Beach and Irvine, also made the list, which didn’t assign rankings. Denver-based Healthgrades rates hospitals based on clinical performance in more than 20 common inpatient conditions and procedures.
Technology
San Clemente-based DealerSocket Inc. acquired a Rancho Santa Margarita company that specializes in software for car dealerships. Financial terms of the purchase of Finance Express LLC were undisclosed.
Newport Beach IT services provider Bitcentral Inc. acquired a Connecticut software maker that specializes in broadcast automation systems for the media industry. Terms of the transaction for Fission Software Inc. were undisclosed. Fission, based in Danbury, Conn., has more than 50 employees, according to its LinkedIn page. The company will fall under the Bitcentral brand. Bitcentral’s software is used by more than 200 U.S. news stations.
Transportation
John Wayne Airport’s neighbor to the north may add international flights after Long Island City, N.Y.-based JetBlue Airways Corp. asked Long Beach Airport to apply for a federal customs facility, according to a news report. Approval would allow JetBlue to fly to international destinations from Long Beach.
