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QXO completes $11B purchase of Beacon Roofing Supply
Beacon Roofing Supply, a Herndon Fortune 500 roofing material and building supplies company, is now a subsidiary of Connecticut software and tech business QXO after the closing of its $11 billion purchase Tuesday, QXO announced.
Cvent acquires California tech company Prismm
Tysons-based global event marketing and management company Cvent announced Thursday it has acquired Mill Valley, California-based spatial event design technology provider Prismm.
Henrico-based Elephant Insurance to be sold
The U.K.-based Admiral Group is selling Henrico County-based auto insurer Elephant Insurance to J.C. Flowers & Co., a New York-based private investment firm, according to a Tuesday announcement. The deal is for “an undisclosed cash consideration … representing approximately the net asset value of Elephant,” a news release stated. That value is believed to be […]
Krispy Kreme investor to acquire Roanoke’s Shenandoah Life in deal
JAB Holding Co., the Luxembourg-based holding company that owns a majority stake in Krispy Kreme doughnuts, plans to pay $3.1 billion to buy Prosperity Life Group, parent company of Roanoke-based Shenandoah Life Insurance, according to a filing made last month with the State Corporation Commission. Applications for approval of acquisition of an insurer typically take […]
Chesterfield’s Atlantic Constructors Inc. acquired by Texas co.
One of the U.S.’s largest providers of mechanical services, Texas-based TriplePoint MEP, has acquired Chesterfield County-based Atlantic Constructors Inc. (ACI), according to a Monday announcement. ACI, which provides mechanical, electrical, plumbing and fire protection products and services, also has locations in Roanoke, Suffolk, Sterling, and Wilmington, North Carolina. A request for comm[...]
TowneBank to acquire Old Point in $203M deal
Suffolk-based TowneBank announced plans Thursday to acquire Old Point Financial, parent company of The Old Point National Bank of Phoebus, in a deal valued at $203 million. The merger, which is expected to enhance TowneBank’s position as the bank with the most market share in Hampton Roads, follows the April 1 completion of TowneBank’s $120 […]
Reston Limousine sold to Texas company
Dallas-based TBL Group, a transportation and logistics management acquisition company, has purchased Reston Limousine & Travel Service, a Sterling-based transportation company started in 1990. According to TBL’s website, the company will be known as Reston Transportation. Financial terms were not disclosed. Since its founding, Reston Limo has grown from five vehicles to a fleet of [&hell[...]
Amazon’s last-minute bid for TikTok comes as a US ban on the platform is set to take effect Saturday
WASHINGTON (AP) — Amazon has put in a bid to purchase TikTok, a Trump administration official said Wednesday, in an eleventh-hour pitch as a U.S. ban on the platform is set to go into effect Saturday. The official, who was not authorized to comment publicly and spoke on the condition of anonymity, said the Amazon offer was made in a […]
AeroVironment stockholders approve $4B acquisition of BlueHalo
AeroVironment, an Arlington County-based defense contractor, announced Tuesday that its stockholders have approved the $4.1 billion purchase of Arlington aerospace and defense tech firm BlueHalo. The deal is expected to close in May. In November 2024, the company announced it was purchasing BlueHalo for approximately $4.1 billion in an all-stock transaction. BlueHalo is owned by […]
TowneBank finalizes $120M acquisition of Village Bank
Suffolk-based TowneBank has completed its acquisition of Midlothian’s Village Bank and its parent company Village Bank and Trust Financial, the bank announced Tuesday. When the companies announced the merger in September, they valued the deal at about $120 million. Village Bank shareholders gave “overwhelming support” for the merger at a special meeting held in December […]
Atlantic Union completes $1.3B Sandy Spring purchase
Atlantic Union Bankshares has completed its $1.3 billion acquisition of Sandy Spring Bancorp, according to a Tuesday announcement by the parent company of Atlantic Union Bank. Each share of Sandy Spring common stock was converted into the right to receive 0.9 shares of Atlantic Union common stock, with cash paid in lieu of fractional shares. […]
Kastle takes majority stake in Mich. security business
Kastle Systems, a Falls Church security solutions company, has taken a majority stake in i2G Systems, a Michigan-based electronic security service provider firm. Kastle did not clarify the amount of the investment. “Kastle’s strategic investment in i2G — a majority stake — is the largest investment in our company’s 50-year history,” Kastle CEO Haniel Lynn […]
