AEROSPACE
Santa Ana-based Ducommun Inc. acquired Certified Thermoplastics Co. LLC for $30.5 million. Certified Thermoplastics in Santa Clarita, established in 1978, specializes in precision extrusions and assemblies of engineered thermoplastic resins, compounds and alloys for commercial aerospace, defense, medical, and industrial applications. Customers include Boeing. Aerospace manufacturer Ducommun said the buy, financed through an existing credit line, will be accretive to earnings within the first year following closing. It moved its headquarters last year from Los Angeles to Santa Ana.
— Chris Casacchia
APPAREL
Huntington Beach-based Boardriders Inc. completed its acquisition of rival Billabong International Ltd. for $1.05 per share, or about $162 million, a 35% premium to Billabong’s share price on the Australian Securities Exchange prior to the tender. The merged company has more than 7,000 wholesale customers in over 110 countries and over 630 retail stores in 28 countries. Integration will be a multiyear process. The deal adds Billabong, RVCA, Element, VonZipper, Xcel, Kustom and Palmers to Boardriders’ portfolio, which includes Quicksilver, Roxy and DC Shoes.
— Subrina Hudson
EDUCATION
Chapman University’s board of trustees welcomed new member Emile Haddad, chairman and chief executive of Aliso Viejo-based home developer FivePoint Holdings LLC.
— Hannah Mitchell
Michelle Deutchman was tapped as the first executive director of the University of California’s National Center for Free Speech and Civic Engagement. She’ll report to University of California-Irvine Chancellor Howard Gillman, who’s co-chairman of the center’s advisory board and provides administrative oversight. The center was launched in October and aims to support and advance research, education and advocacy on First Amendment issues.
— Subrina Hudson
HEALTHCARE
Children’s Hospital of Orange County plans to open an autism center at 170 S. Main St. in Orange in early 2019. The two-story, 20,000-square-foot Thompson Autism Center, named in honor of a $10 million founding gift from the William and Nancy Thompson Foundation, will expand the hospital’s ability to diagnose children as early as possible and provide long-term support for those with complex care needs. The Thompsons founded the foundation in 2007 to help make a difference in the lives of children and families affected by autism spectrum disorders, according to its website. William “Bill” Thompson was longtime chief executive of Pacific Investment Management Co. in Newport Beach.
— Sherry Hsieh
ChromaDex Corp. said Chief Executive Frank Jaksch will be executive chairman and said president and Chief Operating Officer Rob Fried will take Jaksch’s role on June 22 after the company’s annual meeting. Jaksch succeeds Stephen Allen, currently nonexecutive board chairman; Allen will retire at the end of his current term. Jaksch, who served as chief executive from 2000 to January 2012, and again since June 2012, co-founded the Irvine-based supplement maker. He will “continue to be an active part of the executive management team on strategic and scientific advice and guidance, new product development and represent the company in its relations with trade associations and others in the industry,” the company said. The board also appointed Kurt Gustafson, a ChromaDex director since 2016, as lead independent director.
— Sherry Hsieh
REAL ESTATE
A new student housing REIT backed by the Rich Uncles investment group named Raymond Pacini chief financial officer. Rich Uncles buys commercial real estate through crowdfunded investing. Brix Student Housing REIT Inc., which launched on April 17 via an offering circular, shares its Costa Mesa headquarters. Pacini had been CFO at privately held Newport Beach-based Northbound Treatment Services, which treats drug and alcohol addiction.
— Paul Hughes
