Peter J. Brennan

Executive Editor

Email: brennan@ocbj.com
Phone: 949-833-8373 Extension: 229

Recent Stories

Salas O’Brien Adds Mid-Atlantic Firm

33 offices; 800 workers firmwide

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Life Support

Ventilator Co. Looks to Ramp Up Supply for ICUs Amid COVID-19 Crisis

For Sale, ventilators, often needed

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Masimo Preliminary Q1 Tops Estimates

Says coronavirus increasing demand

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February Unemployment Fell

Numbers don’t reflect coronavirus

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Glenn Stearns Returns to Mortgages

FINANCE: Says new company aims for 500 employees

Back to business, kindly

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Masimo to Acquire German Device Maker

Product in high demand due to coronavirus

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Beacon Pointe Plans To Triple Offices

FINANCE: Boston PE firm makes investment

Eusey lands Abry; now to growth

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Coronavirus to Cost U.S. $540 Billion: Chapman

Predict Short Recession

Doti, Sfeir say 6-month recession, then rebound

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January Unemployment Jumps to 2.9%

Rate still below year-ago level

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Midday Stock Roundup

Trump’s ban fells indexes; OC health REITs, restaurants hit again

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Alignment Healthcare Nabs $135M Series C

FINANCE: Reaffirms $1B goal, expansion plans

Funding from Fidelity, T. Rowe Price, Durable Capital

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Beacon Pointe Reorganizes on Abry Investment

Capital will fund acquisitions, marketing

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Midday Stock Roundup

Stocks continue deep dive

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HMWC to be Acquired by Eide Bailly

Tustin firm goes to top-25 accountancy

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Alignment Raises $135M

Fidelity, T. Rowe Price, Durable backing

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Nano Banc Intends To Keep Growing Big

BANKING: Startup brings tech feel

This is not a fintech

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Bank of America Gains $1B in OC Deposits

Deposits Up, Headcount Down, Branches Move

Bank of America Corp. claimed the top spot on the Business Journal’s annual list of 41 banks operating here; its deposits climbed 5.6% to $24.1 billion as of mid-2019.

Venture Capitalists Investing in Food, Data, Security

13 Groups: $2.1B in Funds, $81M of Local Buying

For venture capital based in OC there’s an 800-pound gorilla and everyone else.

Revived UCI Sleep Center Focuses on Mental Issues

HEALTHCARE: Seeks more home tests, UCI sites

Sleep is providing a window into our health, particularly psychiatric problems, according to Dr. Ruth Benca, a world-renown expert on sleep.

Pacific Premier To Buy Opus Bank

BANKING: Acquisition will create OC financial giant

Next up: $20B in assets

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Drew Vollero: Building an $8.4B Security Business

SERVICES: Allied CFO helps raise $4 billion

Drew Vollero knows tech, having helped take public the high-flying wunderkind Snap Inc. in 2017.

Pacific Premier to Buy Opus Bank

$1B deal; $20B in combined assets

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200%+ Returns For Decade’s 13 Best PubCos

FINANCE: Mix of heart valves, monitors, electricity

Willdan, Ensign, Edwards, PacPremier, Masimo ...

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OC: The New Face of Booming Aesthetics Industry

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.

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Withum’s West Coast Push Starts in Irvine

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.

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Five CFOs Won, Then Had Dramatic Years

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

ShiftPixy Shares Nearly Triple on Deal

Shares of ShiftPixy Inc. (Nasdaq: PIXY), a tech-based restaurant staffing company, almost tripled after raising $20 million.

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CoolSys Shopping Spree Could Push Sales to $1B

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.

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Steve Jones: CEO of a 230,000-Employee Company

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.

CBC Surpasses $1 Billion in Assets

BANKING: CEO Patel touts technology

Irvine-based Commercial Bank of California recently celebrated a milestone—passing $1 billion in assets.

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KSJG Acquired by WithumSmith+Brown

Jersey CPA firm expands on West Coast

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Boustead Raises $61.9M for Chinese Company

Boutique Irvine underwriter deal-runner goes to the well

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2020 Preview: FINANCE & BANKING

OC Financial Sector Returns to Bullish

Orange County’s financial sector seems to be perking up after a nervous first half of 2019.

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Person to Watch: Jared Wolff

Jared Wolff took on the top spot at Banc of California Inc., Orange County’s second-largest bank by assets, last March.

Bank to Watch: Opus Bank

Paul Taylor became chief executive at Irvine’s Opus Bank, OC’s third largest, in May.

OC Unemployment 2.5%

County holds the line; retail jobs up, construction down.

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Allied Universal Holder Completes Sale

A shareholder in Santa Ana’s Allied Universal, the largest North American security firm, said it completed its sale of a majority stake.

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The Real Buzz On Cannabis

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.

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Mr. Brea Tries Solving Low-Cost Housing Riddle

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.

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The Bond King Turns to Equity

Gross’ $400M Foundation Aims to Grow 5% Annually

Bill Gross used to oversee trillions at Pacific Investment Management Co.

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Allied Universal Buys 4th Company in Month

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.

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Allied Universal Buys SOS to Expand Overseas

Santa Ana-based Allied Universal, the largest private security firm in North America, bought SOS Security, which has 15,000 employees, to expand overseas.

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Carrick Capital Exits 3 Companies

FINANCE: Some valuations ‘not sustainable’

Carrick Capital Partners LLC in the past 90 days has successfully exited its first three portfolio companies.

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Allied Universal Buys Tech Integrator

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.

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Carrick Exits 3 Cos.

Newport Beach-based Carrick Capital Partners, an investment firm focused on software firms, said it sold three portfolio companies, its first such divestiture.

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Banc of California CEO Outlines Strategy

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.

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Pacific Premier Becomes King of OC-Based Banks

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.

Credit Unions Growth Accelerating Again

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.

Public Companies’ Fastest Growers Soar 33%

MARKETS: 34 firms report $27B in sales

Orange County has again demonstrated the ability to spur fast-growing publicly traded companies.

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OC Banks See Surprising Revenue Growth

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.

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