Biz News: London company completes $1.1-billion acquisition of Costa Mesa’s J.D. Power
XIO Group, a London-based investment firm, has completed a $1.1-billion acquisition of Costa Mesa-based J.D. Power and Associates.
J.D. Power, which provides marketing data and analytics for businesses and consumers, will maintain its existing senior management team and remain headquartered in Costa Mesa’s Pacific Arts Plaza at 3200 Park Center Drive.
XIO Group “is committed to supporting J.D. Power in its mission to use data-driven knowledge to help consumers and companies navigate today’s complex business environment,” the company stated in a news release.
“This is an exciting time for J.D. Power,” Finbarr O’Neill, J.D. Power’s president, said in a statement. “We are joining a firm with the resources and motivation we need to accelerate our growth, bolster our competitive position and broaden our global footprint.”
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Fresh Bros. to host fundraiser for school
Fresh Bros., a pizzeria in Newport Beach, will present a fundraiser for Reid Day School from 11 a.m. to 9 p.m. Wednesday.
Twenty percent of the proceeds from all purchases during the event will benefit the Costa Mesa campus. Guests must mention the fundraiser and present the event flier, which is available on Reid Day School’s Facebook page.
Fresh Bros. is at 1616 San Miguel Drive.
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Charlie’s Locker closes
Charlie’s Locker, a boating lifestyle store in Newport Beach’s Lido Village, closed recently after nearly 40 years in business.
The store, at 3410 Via Lido, was owned by Jon Birer and staffed by Karen Marshall, Birer’s only employee.
Remaining merchandise was donated to Marine families at Camp Pendleton, the Orange County Register reported.
Charlie’s Locker was originally a boating supply store in Florida founded in 1972. Robert Birer, Jon’s father, wanted to duplicate the store in Newport Beach.
It was later changed to a men’s store and then a boating lifestyle shop.
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Newport news source launches online
Former Daily Pilot publisher Tom Johnson has started a new online news website, StuNewsNewport.com, which began publishing Thursday.
It is edited by Lana Johnson, a former Pilot staff member who also has an ownership stake.
Shaena Stabler and Stu Saffer, who run Stu News Laguna in Laguna Beach, also have ownership stakes.
In an opening letter for the publication, Johnson, who also is president of the Costa Mesa Chamber of Commerce, said Stu News Newport will be a “community watchdog that reports on City Hall and our political representatives,” as well as a community forum and “the community cheerleader.”
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Rutan & Tucker names managing partner
Rutan & Tucker LLP has named William Meehan as managing partner of the Costa Mesa-based law firm, according to a news release.
He succeeds Layne Melzer, who recently was appointed as a judge for Orange County Superior Court.
Meehan, 43, is the youngest firmwide managing partner for any AmLaw 200 firm, Rutan & Tucker said. He specializes in corporate and real estate law and serves on the board of directors of the Segerstrom Center for the Arts in Costa Mesa.
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CdM grad’s company partners with Office Depot
Pocket Points, an app co-founded by Corona del Mar High School alumnus and Newport Beach native Mitch Gardner, has named Office Depot as its national school and office supply retailer, according to a news release.
The app, founded about two years ago, rewards students for turning off their smartphones in class. The longer the phones are off, the more points students receive, which can be exchanged for discounts, coupons or gifts.
“Pocket Points and Office Depot have formed a partnership in providing the tools for students to succeed,” Gardner said in a statement. “Our team is elated to be working closely with a company of Office Depot’s caliber. Pocket Points’ mission has always been to provide value to students and merchants. This partnership will enhance the experience on all fronts.”
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YES to recognize Mother’s Market
Mother’s Market & Kitchen, based in Costa Mesa, will be recognized by Youth Employment Service as an outstanding Orange County employer.
The Costa Mesa-based nonprofit also will honor Starbucks during its annual fundraiser, dubbed “An Evening of Excellence,” on Oct. 6 at the Promenade and Gardens in Costa Mesa.
Youth Employment Service credited both companies for hiring and fostering YES graduates.
“Mother’s Market believes in giving back to the communities it serves,” the company’s Costa Mesa store manager, Tina Nunes, said in a statement. “Though we are thrilled to be recognized by YES for our efforts, it is the YES staff who has created this amazing youth program that should be honored and that we are happy to support.”
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United Capital announces Connecticut acquisition
United Capital Financial Advisers LLC, a Newport Beach-based financial life management firm, has added an estimated $373 million in assets under a new acquisition in Connecticut, according to a news release.
United Capital acquired the private client group of Westport Resources Management, an investment advisory firm founded in 1986. It will be renamed Westport Resources, a division of United Capital.
“This acquisition will strengthen United Capital’s presence in New England and advance its position as a nationwide leader in financial life management,” Matt Brinker, head of national partner development for United Capital, said in a statement.
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Orange Coast magazine for sale
Orange Coast magazine, based in Newport Beach, and other related titles are for sale, according to the Los Angeles Business Journal.
The publication is owned by Emmis Communications Corp., a radio and publishing company based in Indianapolis.
Jeff Smulyan, Emmis’ chief executive and a controlling shareholder, proposed taking the company private and selling some of its assets.
In August, Smulyan’s E Acquisition Corp. sought to buy Emmis for $4.10 a share in cash, the Business Journal reported.
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Nemus CEO to speak at conferences
The chief executive officer of Nemus Bioscience Inc., a Costa Mesa-based biopharmaceutical company focused on cannabinoid therapeutics, will speak at two investor conferences this month.
Brian Murphy will appear at the 18th annual Rodman & Renshaw Global Investment Conference in New York City and the Aegis Capital Growth Conference in Las Vegas.