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Kings Dominion parent Cedar Fair and Six Flags announce $2B merger
Cedar Fair Entertainment, the parent company of Kings Dominion, is merging with Six Flags Entertainment in an all-stock deal valued at $2 billion, the companies announced Thursday. Cedar Fair unitholders will own 51.2% and Six Flags shareholders will own approximately 48.8%. Together, the two companies will have a combined 27 amusement parks, 25 water parks […]
Shentel to acquire Ohio fiber company
Edinburg-based Shenandoah Telecommunications, better known as Shentel, plans to acquire Horizon Telcom for $385 million, the company announced Tuesday. Shentel will pay $305 million in cash and the rest in common stock. The transaction is expected to close in the first half of 2024. Ohio-based Horizon, founded in 1895, is a commercial fiber provider with […]
Urgent.ly merges with Israeli company, goes public
Vienna-based roadside assistance tech company Urgent.ly has merged with Israel-based Otonomo Technologies, another vehicle technology business, and the combined company publicly listed its stock on Nasdaq on Oct. 19. The all-stock acquisition — a reverse merger allowing the combined business to go public, as an alternative to a traditional initial public offering — was first […]
Friendship retirement community acquires Richfield Living
Friendship, a Roanoke-area retirement community, announced Monday that it has acquired Richfield Living, a former competitor in the region, for $62 million. Friendship announced the acquisition Monday. The combined not-for-profit retirement communities will operate under the name Friendship, but will keep Richfield Living’s name and identity, and will have 1,000 employees serving 1,500 resid[...]
Atlantic Union to acquire American National Bank
Updated 4:15 p.m. July 25 Richmond-based Atlantic Union Bank’s parent company announced Tuesday that it has entered into an agreement to acquire American National Bankshares Inc., which is headquartered in Danville and is the holding company of American National Bank and Trust Co. The combined bank will have total assets of $23.7 billion as of […]
DISYS and acquired company rebrand as Dexian
McLean-based staffing firm Digital Intelligence Systems LLC (DISYS) and Florida-based Signature Consultants LLC have rebranded their combined company as Dexian, DISYS announced Monday. DISYS first announced its acquisition agreement with Signature Consultants in April 2021. The new company has a combined revenue of more than $1.3 billion and almost 12,000 employees across more than 70 offices, [&[...]
Tree-trimming companies merge, announce new leaders
Two national tree-trimming and vegetation management companies have merged and announced new leadership. The merger of Norfolk-based Xylem Tree Experts with Lawrenceville, Georgia-based Kendall Vegetation Services was backed by Connecticut-based private equity firm Sterling Investment Partners. The new company will have dual headquarters in Norfolk and just outside Atlanta. Its services will con[...]
Two Hampton Roads marketing agencies to merge
Norfolk-based WB Marketing’s parent company has acquired majority interest in Virginia Beach-based marketing and communications firm Meridian Group and will merge the two into one agency, Meridian Group announced Tuesday. Mike Matacunas from Norfolk-based private investment firm Five Hill Capital — WB Marketing’s parent — acquired the majority interest from Meridian Group founder J[...]
Resetting the bar
Two venerable Virginia law firms — Roanoke‘s Woods Rogers PLC and Norfolk‘s Vandeventer Black LLP — combined forces in July 2022, creating the state’s fifth largest firm, Woods Rogers Vandeventer Black PLC, based in Roanoke. It‘s a true statewide firm, with branch offices in Norfolk, Richmond, Lynchburg and Charlottesville, in addition to locations in Kitty […]
TowneBank completes Farmers Bank acquisition
Suffolk-based TowneBank has completed its acquisition of Windsor-headquartered Farmers Bankshares Inc., the parent company of Farmers Bank, TowneBank announced Tuesday. The $56 million deal created a combined company worth $17.5 billion in total assets, loans of $10.9 billion and $14.5 billion. It adds Isle of Wight and Southampton counties to TowneBank’s service area, as well […]
Youngkin budget outlines EVMS/ODU merger by 2024
In his proposed budget amendments released Thursday, Virginia Gov. Glenn Youngkin lays out the framework and a timeline for the merger of Eastern Virginia Medical School and Old Dominion University, requiring it to take place by July 2024. Youngkin’s amendments to the 2022-24 state budget, which must be passed by the General Assembly during its 2023 […]
Leonardo DRS completes merger, goes public
Arlington-based defense contractor Leonardo DRS Inc. is now a public company. The company began trading on the Nasdaq composite Tuesday morning, opening at $11.50, following the completion Monday of its all-stock merger with Israel-based Rada Electronic Industries Ltd. to form a $3 billion company. The companies announced their plans to merge in June. Under the […]
