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ODU, EVMS merger possibility arises with new officer hire
A high-profile hire announced Tuesday by Old Dominion University has raised questions about the possibility of a formal merger with Eastern Virginia Medical School, although statements from the two Hampton Roads educational institutions say it’s “premature” to respond to questions about the prospect. Dr. Alicia Monroe will join ODU in a few weeks as chief […]
Leonardo DRS, Israeli company to merge
Arlington-based Leonardo DRS Inc., a subsidiary of Italian defense contractor Leonardo SpA, and Israel-based Rada Electronic Industries Ltd. have entered into a definitive agreement to merge and become a combined public company later this year, the contractors announced Tuesday. Rada will become a wholly-owned subsidiary of Leonardo DRS, and the new company will be listed […]
Two govcons to merge, move HQ to NoVa
Colorado-based government contractor Vectrus Inc. and Mississippi-based The Vertex Co. will merge to form a company that will be based in Northern Virginia. Vectrus shareholders approved the all-stock merger, expected to close in the third quarter of 2022, on Wednesday. The combined company will be named V2X Inc. and will trade on the NYSE under […]
DHG, BKD merged company names Va. leaders
The merger of Charlotte, North Carolina-based Dixon Hughes Goodman LLP and Springfield, Missouri-based BKD CPAs & Advisor finalized Wednesday, forming Forvis, the name of the new company that the two companies merging formed. Forvis is a top 10 accounting firm with $1.4 billion in revenue. “Today is a monumental day as BKD and DHG officially […]
Tegna shareholders approve $5.4B sale to hedge fund
Tysons-based broadcast and digital media giant Tegna Inc.’s shareholders approved an agreement at a special meeting Tuesday for the sale of the company to an affiliate of New York hedge fund Standard General. On Feb. 22, Tegna announced it would be acquired in a $5.4 billion cash deal by an affiliate of Standard General LP. […]
Woods Rogers, Vandeventer Black law firms to merge July 1
Woods Rogers PLC and Vandeventer Black LLP announced Wednesday that the two law firms have agreed to merge as Woods Rogers Vandeventer Black, creating the state’s fifth-largest firm, with more than 130 attorneys and a total workforce of 250 people. The merger will go into effect July 1. Daniel Summerlin, president of Roanoke-based Woods Rogers, […]
Stronger together
Bank acquisitions and mergers, particularly among Virginia’s community banks, continued apace in 2021. Banks sought scale for efficiency and flexibility, as well as to acquire resources in anticipation of potential new government regulation. “The recurring theme in bank mergers is scale,” Bruce Whitehurst, president and CEO of the Virginia Bankers Association, told Virginia Business in [&hel[...]
DHG to merge with BKD, forming top 10 accounting firm
The fifth-largest accounting firm operating in Virginia, Dixon Hughes Goodman LLP, is merging with Springfield, Missouri-based BKD CPAs & Advisors to form a combined top 10 accounting firm with $1.4 billion in revenue, the two firms announced Thursday. The “merger of equals” will be effective June 1, a company spokesperson said. The new firm will […]
Blue Ridge Bank, FVCbank merger called off
The merger of the parent companies of Charlottesville-based Blue Ridge Bank and Fairfax-based FVCbank has been called off, the companies announced late Thursday. Blue Ridge Bankshares Inc. and FVC Bankcorp Inc. mutually agreed to terminate the agreement, which was first announced in July 2021. The companies delayed the merger, which would have created a $5 […]
Richmond’s Risk Based Security acquired by Flashpoint
Richmond-based Risk Based Security has been acquired by Flashpoint, a New York-based cybersecurity developer specializing in threat intelligence and risk prevention. RBS, founded in 2011, specializes in vulnerability intelligence, breach data and vendor risk ratings. Financial details of the transaction were not disclosed. “I am incredibly excited to welcome the RBS team to Flashpoint,” Flashp[...]
Cvent goes public again
Tysons-based event software company Cvent Holding Corp. began trading on the Nasdaq Global Market Dec. 9 after closing its merger the day before with San Francisco-based SPAC Dragoneer Growth Opportunities Corp. II. The move is Cvent’s second time going public. In 2016, Vista Equity Partners acquired it for $1.65 billion and took it private. The […]
Mich. company acquires Roanoke steel distributor
Jackson, Michigan-based Alro Steel Corp. announced Monday it had acquired Roanoke-based Ace Steel Inc. Financial terms of the transaction were not disclosed. Founded in 1992, Ace Steel is a steel distributor serving the Roanoke Valley. The transaction will help Alro provide improved service for cut-to-size metals and plastics, while Ace Steel’s customers will benefit from […]
