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Amentum to acquire PAE for $1.9B
Falls Church-based government contractor PAE Inc. (Pacific Architects and Engineers) has agreed to be acquired by an affiliate of Germantown, Maryland, aerospace defense contractor Amentum in a $1.9 billion all-cash deal. The transaction is expected to close by the end of the first quarter of 2022, at which time PAE will become a wholly owned […]
Dominion Energy to sell Questar Pipeline to Southwest Gas for $1.9B
Richmond-based Dominion Energy Inc. has reached an agreement to sell its Questar Pipeline subsidiary to Las Vegas-based Southwest Gas Holdings Inc. for $1.975 billion, the Fortune 500 utility announced Tuesday. The all-cash deal includes the assumption of $430 million of debt. The transaction is expected to close in the fourth quarter. Questar Pipeline is an […]
Primis Bank selling minority interest back to Southern Trust Mortgage
Glen Allen-based Primis Bank, a wholly-owned subsidiary of McLean-based Primis Financial Corp., entered into an agreement to sell its minority interest back to Virginia Beach-based Southern Trust Mortgage LLC (STM), it announced Thursday. Primis Financial Corp. expects to record a pre-tax charge of about $2.9 million in the third quarter. STM will repurchase all of […]
Ellucian acquisition deal closes
The acquisition of Reston-based higher education software company Ellucian by investment firms Blackstone and Vista Equity Partners has been completed, the companies announced Wednesday. Financial terms of the deal were not disclosed. New York-based Blackstone and Texas-based Vista Equity acquired Ellucian from Texas-based TPG Capital and Los Angeles-based Leonard Green & Partners. “Toda[...]
Midlothian Crossing Shopping Center sells for $6.6M
Midlothian Crossing Shopping Center in Chesterfield County sold for $6.64 million on Sept. 9, Cushman & Wakefield | Thalhimer announced Friday. The 87,938-square-foot strip mall is located at 8501 Midlothian Turnpike at the intersection of Midlothian Turnpike and Powhite Parkway. The property is 95.6% leased and is anchored by Big Lots and Goodwill retail locations. Catharine […]
Branch Group HQ in Roanoke sells for $2.9M
The Branch Group Inc. has sold its Roanoke headquarters building for $2.9 million, Poe & Cronk Real Estate Group announced this week. The 39,016-square-foot building at 442 Rutherford Ave. will remain as the company’s headquarters in a sale-leaseback transaction that allows the construction company to be a tenant. The buyer, represented by Matt Huff and […]
Tysons-based Neosystems to be acquired by High Street Capital
Tysons-based Neosystems is being acquired by High Street Capital, a Chicago-based private equity firm, the company announced Wednesday. Neosystems is an IT systems integrator and managed services provider to government contractors. Financial terms of the deal were not disclosed. The current management team of Neosystems, including CEO and co-founder Michael Tinsley and co-founder and Chief [&helli[...]
Spok reviewing options for potential sale of company
Arlington-based health care communications tech company Spok Holdings Inc. announced Friday that it is conducting a strategic review of its options, which may include selling the publicly traded company. California-based Acacia Research Corp. and its partner, New York-based Starboard Value LP, publicly expressed interest in acquiring Spok and have accumulated more than 5% of Spok’s […]
ASGN sells Oxford Global Resources for $525M
Glen Allen-based ASGN Inc. has sold its Oxford Global Resources LLC subsidiary to an affiliate of Miami-based private equity firm H.I.G. Capital for a total cash consideration of $525 million, ASGN announced Wednesday. Based in Massachusetts, Oxford is a staffing and consulting company with offices across North America. ASGN retained Sullivan & Cromwell LLP as […]
Altria to sell winemaking division for $1.2B
Henrico County based Altria Group Inc. announced Friday that it has entered into a definitive agreement to sell its Ste. Michelle Wine Estates winemaking division for $1.2 billion to New York-based private equity firm Sycamore Partners Management LP in an all-cash deal. The deal is expected to close by the end of this year. The […]
Boy Scouts’ Heart of Va. Council purchases $2.8M Henrico HQ
The Boy Scouts of America’s Heart of Virginia Council has purchased a $2.875 million office building in Henrico County as its new Richmond-area headquarters, Colliers International Virginia LLC announced Tuesday. The 26,290-square-foot office building at 8090 Villa Park Drive near the intersection of East Parham and Brook roads will be renovated beginning in January. Nearly […]
Spotify completes $235M acquisition of Reston-based Megaphone
Music streaming giant Spotify Technology SA has completed the acquisition of Arlington-based media and education conglomerate Graham Holdings Co.’s podcast technology company, Megaphone, for $235 million, the company announced Tuesday. The acquisition was first announced Nov. 10. Founded in 2015, Megaphone provides hosting and ad-insertion capabilities for publishers and targeted ad sales for br[...]
