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Charlottesville energy companies move toward merger
Charlottesville-based energy company Tiger Fuel Co. announced Friday it has acquired 40% of the shares of Altenergy Inc., which is also based in Charlottesville — a first step in the acquisition of Altenergy to be completed in March 2021. “Altenergy and Tiger share a common commitment to doing the right thing for our customers, our […]
Goldman Sachs to acquire McLean financial firm
McLean-based online financial services company Folio Financial Inc. announced Tuesday it will be acquired by New York City-based The Goldman Sachs Group Inc. Both companies provide investment management, asset management and brokerage services. Financial terms of the transaction were not disclosed. Acquisition discussions began in 2019, and the transaction is expected to close by the […]
Vienna-based OnLocation Inc. acquired by KeyLogic Systems
Vienna-based OnLocation Inc. has been acquired by KeyLogic Systems Inc., a subsidiary of McLean-based IIA Technologies Corp., the companies announced Wednesday. Financial terms of the transaction were not released. KeyLogic Systems is a Morgantown, West Virginia-based company that provides energy, data and power grid services to government agencies. OnLocation is an information and analytics com[...]
Reston-based Leidos acquires L3Harris businesses for $1B
Reston-based defense contractor Leidos Holdings Inc. announced Tuesday it has officially completed the acquisition of Massachusetts- and England-based L3Harris’ Security Detection and Automation businesses for approximately $1 billion in cash. The deal was originally announced on Feb. 4, when the boards of directors of both companies unanimously approved the transaction, according to a Leido[...]
Boston tech company to acquire Arlington-based DivvyCloud for $145M
Boston-based tech company Rapid7 announced Tuesday that it’s acquiring Arlington County-based cloud security and governance tech firm DivvyCloud for $145 million. The acquisition, which will be made via a combination of cash and stock, is expected to close before June. “Joining forces with Rapid7 is a natural next step,” said DivvyCloud CEO and co-founder Brian […]
Va. Beach-based DroneUp acquires AeroVista Innovations
Virginia Beach-based end-to-end drone pilot service company DroneUp LLC announced Thursday it has acquired Glenview, Illinois-based AeroVista Innovations LLC (AVI). The merged company will rebrand as The DroneUp Training Academy. DroneUp acquired AVI’s assets, employees and customer contracts. Financial terms of the transaction were not disclosed. AVI was founded in 2016 and provides in-ho[...]
Markel to acquire newly merged company
A subsidiary of Henrico County-based Markel Corp., a specialty insurer and diversified financial holding company, will purchase Richmond-based Lansing Building Products and Harvey Building Products following the merger of the two companies, Lansing Building Products announced Monday. Financial terms of the agreement were not disclosed. Lansing Building Products is a national supplier of exterior[...]
Morgan Stanley to acquire E-Trade for $13B
New York City-based wealth management company Morgan Stanley will acquire Arlington-based E-Trade Financial Corp. under a $13 billion definitive agreement expected to close in the fourth quarter of this year, the companies announced Thursday. E-Trade stockholders will receive 1.0432 Morgan Stanley stares for each of their E-Trade shares as a result of the acquisition, which […]
Carter Machinery Co. Inc. acquires Baltimore tractor company
Salem-based Carter Machinery Co. Inc., an independent dealer of Caterpillar Inc. equipment, entered into an agreement to acquire Baltimore-based Alban Tractor Co. Inc. effective Feb. 4, the company announced Wednesday. Financial terms of the acquisition were not disclosed. Carter Machinery will become the Caterpillar dealer in a territory that will now include Northern Virginia, Washington, [&he[...]
Leidos to acquire L3Harris Technologies’ security detection, automation biz for $1B
Reston-based government contractor Leidos will acquire L3Harris Technologies’ Security Detection and Automation businesses for $1 billion in cash in a deal that is expected to close in the second quarter of 2020, the company announced Tuesday. The boards of directors for both companies unanimously approved the transaction. Headquartered in Tewksbury, Massachusetts, and Luton, England, the [&[...]
The Hilb Group acquires Maryland insurance agency
Henrico County-based insurance company The Hilb Group LLC (THG) announced Wednesday the acquisition of Maryland-based Martens Johnson Insurance Agency Inc. The transaction that took effect Jan.1. Financial terms of the acquisition were not disclosed. Martens Johnson is a full-service insurance agency specializing in serving the commercial transportation industry. THG —a portfolio company of Wash[...]
The Hilb Group acquires New York brokerage
Henrico County-based insurance company The Hilb Group LLC (THG) acquired Brooklyn, New York City-based independent brokerage BR Vital Brokerage Inc. (BRV) in a transaction that took effect Jan.1, the company announced Tuesday. Financial terms of the acquisition were not disclosed. BRV specializes in property and casualty insurance for medical professionals. THG —a portfolio company of […]
