Biz News: Segerstrom Daniels wins award from Daly
Segerstrom Daniels wins award from Daly
Sandy Segerstrom Daniels, co-managing partner of South Coast Plaza and executive director of the Festival of Children Foundation, was named the 2016 Woman of the Year by Assemblyman Tom Daly (D-Anaheim).
“I’m pleased to recognize Sandy Segerstrom Daniels for her courageous work and for the positive impact that she has had on our community,” Daly said in a statement. “The people of Orange County have benefited tremendously from her accomplishments as a business person and as a leader in the nonprofit sector.
“Her dedication, passion and commitment have transformed the lives of children, not only locally, but across the nation.”
Pimco names new CEO
Newport Beach-based Pimco, one of the world’s biggest bond investors, has nabbed the head of hedge-fund giant Man Group to be its next chief executive.
Pimco said Manny Roman will replace current CEO Douglas Hodge, who will become a managing director. Roman is expected to start Nov. 1.
Luke Ellis will replace Roman at Man Group, one of the world’s largest publicly traded alternative asset managers.
Roman said he looks forward to building “on Pimco’s success in what is a rapidly changing industry.”
The appointment comes after a tumultuous time for Pimco, whose full name is Pacific Investment Management Co. Co-founder Bill Gross left the firm in 2014 in an acrimonious split that he claimed was caused by an internal power struggle. Gross ran Pimco’s Total Return Fund before he left to join Janus Capital, a smaller rival.
— Los Angeles Times
Costa Mesa pet company acquired
Precision Pet Products, based in Costa Mesa, has been acquired by Petmate, based in Arlington, Texas.
Precision Pet Products was established in 1985. It manufactures and supplies wire crates, wooden dog houses and chicken coops, dog beds and puppy pads, according to a news release.
Recovery companies celebrate renovated campus
Windward Way and Casa Capri Recovery hosted an open house event July 15 to celebrate their newly remodeled campus in Costa Mesa, according to a news release.
The space is at 2787 Bristol St. and includes 12,000 square feet for clinical sessions and a 15,000-square-foot administrative office.
Midwest company moves to Costa Mesa
Oculus Architecture LTD has moved its headquarters to Costa Mesa. The new office is at 1901 Newport Blvd., Suite 300.
The company had been based in the Chicago suburb of Hickory Hills.
New dance studio opens in Newport
Newport Beach now has a new studio offering classes for ballet, tap, jazz and lyrical dance for children ages 2 to 12.
Mon Rêve, French for “my dream” and owned by Paige Peplow, recently opened at 1000 Bristol St. North, Suite 26.
RSI acquires Texas master-planned community
RSI Communities LLC, a Newport Beach-based developer, has acquired a master-planned community in Texas.
Stillwater Ranch, comprised of 830 acres northwest of San Antonio, had been owned by Wheelock Street Capital.
RSI is expected to build 780 new single-family homes, starting in the low $200,000s, on the remaining undeveloped land in the community.
ASICS HQ hosting tours
Commercial Real Estate Women-Orange County is offering tours of the newly renovated ASICS North American headquarters in Irvine.
The tour is at noon July 28 at the center, 80 Technology Drive. Lunch will also be served.
The tour is free for CREW-OC members and $20 for nonmembers.
Beachwear shop to open in Lido Marina Village
Faherty, a beachwear brand, is opening a new store in Newport Beach on Aug. 24.
The 625-square-foot boutique will be in Lido Marina Village, 3416 Via Oporto.
iBrands acquires water company
Irvine-based iBrands Corp. Inc. has completed a merger with Avita Beverage Co. LLC, a Los Angeles-based provider of alkaline water.
Avita will continue operations in Michigan, where it takes water from an aquifer.
Terms of the merger were not disclosed.
Balsamo named CEO of building association
Michael Balsamo has been named the new chief executive officer for the regional office of the Building Industry Assn. of Southern California, an advocacy group, according to a news release.
Balsamo, a UC Irvine alumnus, was previously the association’s executive officer for its Orange County chapter. He will continue being based out of Irvine.