Peter J. Brennan
Conference Draws Crowds; New Focus for Allergan’s Irvine Hub
Orange County has developed into a world-renowned leader in the medical device industries for heart valves and ophthalmology.
ACCOUNTING: Top 25 firm buys KSJG
WithumSmith+Brown PC, a Princeton, N.J.-based accounting firm with a large presence in the East Coast, wanted exposure to the West Coast.
Global Unrest, Unruly Weather, C-Suite Changes, New Roles
From the U.S. banning a key Chinese customer, to a real live hurricane, to a chief executive in office seven months, to new roles, last year’s Business Journal Chief Financial Officers of the Year had quite the 2019 … where 2020 will take our next slate of honorees after they’re named is a story for another day. For now, we tell the tale of last year’s Gang of Five, their companies, and five thrilling years in one. —Peter J. Brennan
Shares of ShiftPixy Inc. (Nasdaq: PIXY), a tech-based restaurant staffing company, almost tripled after raising $20 million.
SERVICES: CEO Plans ‘Transformative’ Q1 Buys
CoolSys Inc., the Brea-based parent of a collection of refrigeration and heating companies that’s been among Orange County’s fastest-growing private firms the past few years, is gearing up for an eventful 2020.
SERVICES: Built security firm worth $8.4B
When Steve Jones started working in 1996 at a Santa Ana security firm that had $12 million in annual sales, he had a goal that he was reluctant to share.
BANKING: CEO Patel touts technology
Irvine-based Commercial Bank of California recently celebrated a milestone—passing $1 billion in assets.
OC Financial Sector Returns to Bullish
Orange County’s financial sector seems to be perking up after a nervous first half of 2019.
Jared Wolff took on the top spot at Banc of California Inc., Orange County’s second-largest bank by assets, last March.
Paul Taylor became chief executive at Irvine’s Opus Bank, OC’s third largest, in May.
A shareholder in Santa Ana’s Allied Universal, the largest North American security firm, said it completed its sale of a majority stake.
EDUCATION: UCI professors discuss state of market
Editor’s Note: California’s legalization of cannabis has created opportunity in Orange County as serious investors have told the Business Journal they are looking to invest in the industry, from real estate to research to starting companies.
REAL ESTATE: Manley to sell biz licenses for rentals
Dwight Manley believes he has the answer to the riddle of the lack of low-cost housing in Southern California.
Gross’ $400M Foundation Aims to Grow 5% Annually
Bill Gross used to oversee trillions at Pacific Investment Management Co.
Santa Ana-based Allied Universal, the largest private security firm in North America, bought APG Security, its fourth acquisition in the past month. Terms of the latest deal were not disclosed.
Santa Ana-based Allied Universal, the largest private security firm in North America, bought SOS Security, which has 15,000 employees, to expand overseas.
FINANCE: Some valuations ‘not sustainable’
Carrick Capital Partners LLC in the past 90 days has successfully exited its first three portfolio companies.
Santa Ana’s Allied Universal, the largest private security firm in North America, has acquired Advent Systems Inc. to expand its technology offerings. Terms weren’t disclosed.
Newport Beach-based Carrick Capital Partners, an investment firm focused on software firms, said it sold three portfolio companies, its first such divestiture.
FINANCE: Wolff sets stage for 2020 success
Jared Wolff looks relaxed even after seven months at the helm of the once problem-plagued Banc of California Inc.
Acquisition Helps Pass Banc of California
A new leader tops the Business Journal’s annual ranking of the biggest banks with headquarters in Orange County.
Boost OC Memberships 7.5% to 797,620
Orange County’s credit unions saw their asset growth increase again, according to the Business Journal’s annual ranking.
MARKETS: 34 firms report $27B in sales
Orange County has again demonstrated the ability to spur fast-growing publicly traded companies.
FINANCE: Sales spurred by acquisitions, ‘secret sauce’
Banks are in an industry not typically noted for large jumps in revenue growth. Tell that to those based in Orange County.
Rancho Santa Margarita-based CalWest Bancorp NA (OTCBB: CALW) announced it’s being sold to San Diego-based Bank of Southern California (OTC Pink: BCAL).
Bush: These Companies Have Risen Above Others
A construction contractor, a small and large wealth manager, and a pair of accounting firms received top honors at the Business Journal’s third annual Civic 50 event held on Oct. 16 at Hotel Irvine.
Orange County’s unadjusted unemployment rate dropped to 2.4% in September from a revised 3.0% in August and below the year-ago estimate of 2.8%, according to the state Employment Development Department.
FINANCE: Sederquist adopts new bank model
Orange County executives working at America’s biggest banks are continuing to rise high up the corporate ladder.
Firms See Growth, New Faces
From watching companies make executive changes to property deals in the hundreds of millions of dollars to unloading noncore businesses, it’s been quite a year for the 2018 Business Journal winners of the ninth annual General Counsel Awards. Here’s a review of some of the major actions by companies that employed our winners from last November.
Coolsys, the Brea-based parent of refrigeration and HVAC services companies nationwide, said it acquired Building Air Services. Terms of the deal weren’t disclosed.
HEALTHCARE: Company’s system is ‘changing lives’
John Kao experienced firsthand the frustration of America’s fragmented healthcare system when his mother suffered a heart attack and was taken to a hospital.
Epic, Marsh Risk, Burnham Lead Growth
Orange County’s largest insurance brokers as a group saw their revenue grow 12% last year, up from a 6.3% jump in 2017. The 23 biggest brokers with headquarters or significant operations here combined for more than $782 million worth of policies.
McIntosh Helps San Diego Agency Expand in OC
Tony McIntosh sells insurance, just like his brother, father, grandfather, and uncles. “I was born into insurance,” McIntosh told the Business Journal.
OC’s Museum of Art’s Next Showing: Groundbreaking
After a decade of planning and a few controversies, the Orange County Museum of Art is a step closer to getting a new home.
PacLife Sells Stake in Aircraft Leasing Co. for $3B
Aviation Capital Group gets little attention as the relatively quiet affiliate of the giant insurance company Pacific Life Insurance Co.
HEALTHCARE: AI platform; 91% growth in 2 years
Alignment Healthcare, which began in 2013, is well on its way to becoming a billion-dollar business.
No Industry Dominates; Irvine Attracts Most
From electric bikes to dental technologies to customized sandwiches, Orange County’s eclectic mix of private companies continue to thrive.
Shares of Banc of California Inc. (NYSE: BANC) plunged as much as 10% after revealing it would take a $36.1 million charge involving an alleged fraud.
Newport Beach-based L Squared Capital Partners said it has formed Raptor Scientific LLC with a $60 million investment to acquire companies in the fragmented aerospace and defense-focused testing and measurement Industry.
Newport Beach-based Pacific Life Insurance Co. said it will sell its aviation unit for an estimated $3 billion to minority stockholder Tokyo Century Corp.
5 Years in Making; Focus On Computing, High Pay
Five years in the works, Chapman University’s new engineering school is ready for its close-up.
BANKING: Replacement has deep roots in OC
For three years, Tom Vertin made a long commute to his job at Costa Mesa-based Pacific Mercantile Bank.
Mechanics Bank said it completed its acquisition of Rabobank, N.A., a subsidiary of Rabobank Group, for $2.1 billion.
ECONOMY: 22 cities see population drop
Orange County’s new hot spot is Brea, when looking at population growth in the Business Journal’s annual ranking of cities by population.