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byline: Richard Foster

DHG acquiring Northern Virginia accounting firm

RyanSharkey LLP, an accounting and consulting firm in Vienna, will become part of Charlotte, North Carolina-based Dixon Hughes Goodman LLP (DHG) as of Dec. 1.

Founded in 2003, RyanSharkey provides tax, financial reporting, risk advisory and assurance services to clients in the Washington, D.C., region, with particular expertist in the government contracting, technology and life sciences sectors. Fifty members of RyanSharkey will be joining DHG, including partners and managing directors Edward Ryan, David Sharkey, Tony Ricciardella, Michael Davis, Ashley Dunn, Fran Randall, Travis Sherman, Ricky White, Kate Desai and Sallye Williams.

“DHG’s vision for the future, their people-focused culture and their strong industry alignment are reasons why we look forward to joining forces,” said RyanSharkey partner and co-founder David Sharkey, in a statement released Friday.  “We share an appreciation for similar values and culture within our firms and are truly excited about our future with DHG.”

With more than 2,000 employees worldwide, DHG is one of the top 20 public accounting firms in the nation.

“In addition to growing DHG’s presence in the [D.C.] market, we are also seeking to expand our service offering capabilities in the tax and advisory service lines for the industries we serve,” saidd DHG CEO Matt Snow. “We are committed to building an optimistic, collaborative capital market team that has ongoing potential for high performance. Welcoming the RyanSharkey professionals not only supports this commitment but also adds a number of key client relationships and bolsters DHG’s presence in the market.”

 

$1.29M tech disposal center coming to Spotsylvania

Singapore-based TES will invest $1.29 million to establish an IT asset disposal and recycling center in Spotsylvania County, creating 25 jobs, Virginia Gov. Ralph Northam announced Thursday.

The TES facility will offer IT services, including data destruction, data center decommissioning, refurbishment and recycling. The Virginia Economic Development Partnership worked with Spotsylvania County, the Fredericksburg Regional Alliance at the University of Mary Washington, and the Virginia Department of Environmental Quality to help land the project.

“Companies like TES help strengthen the commonwealth’s reputation as one of the nation’s largest tech hubs for companies of all sizes,” Northam said in a statement. “Much of Virginia’s job growth in the coming years is projected to be in information technology, and by locating in Spotsylvania County, TES is ensuring that these opportunities reach every corner of our Commonwealth.”

Founded in 2005, TES bills itself as “the largest e-waste recycler in the world.” It operates 38 locations in 22 nations, employing more than 1,700 workers. It is backed by Navis Capital Partners, a Malaysian private equity firm with more than $6 billion in assets under management.

“With the opening of our new Virginia facility, TES reaffirms its commitment to providing full lifecycle IT solutions for clients all over the world,” said TES Chief Commercial Officer Eric Ingebretsen. “We understand the importance of safe, efficient and reliable IT asset disposition services, and this center gives us the ability to provide those services for customers in another vital region of the country.”

Alan I. Kirshner retiring as Markel Corp. executive chair

After 59 years working for Henrico County-based Markel Corp., the company's executive chairman and chairman of the board, Alan I. Kirshner, announced Thursday that he will be retiring.

Kirshner will not stand for re-election at Markel's 2020 annual shareholders meeting on May 11. Steven. A. Markel, the current vice chair of Markel's board, will succeed Kirshner as chairman of the board. A holding company for insurance, reinsurance and investment operations, Markel employs 17,400 workers around the world. It was founded in 1930.

“I'm grateful to have had the opportunity to serve as chairman of Markel these last 33 years, working alongside terrific leaders and great employees, all of whom come to work each day determined to build one of the world's great companies,” Kirshner said in a statement. “This coming year I'll celebrate both my 85th birthday and 60th anniversary at Markel, and believe these milestones mark the perfect time for me to retire from the board and pass on the chairman role to another proven leader, my good friend and longtime colleague, Steve Markel.”

Kirshner, who joined Markel in 1960, will be named chairman emeritus upon his retirement in May. He joined Markel's board in 1978 and became chairman of the board and CEO in 1986, the year Markel went public. He served as CEO through 2015 and became executive chairman in 2016. Kirshner led the company with board vice chairs Anthony F. “Tony” Markel and Steven Markel, growing the company to $25 billion in total assets.

“Alan has led Markel with tremendous passion, honesty and fairness,” said Steven Markel, who has been with the company since 1975. “He has always been a visionary, challenging leadership and the organization to embrace change, to innovate, create and strive for a better way. And, as the lead author of The Markel Style, the company's values statement, his purpose and principles will live on within Markel forever.”

A board director since 1978, Steven Markel has been a member of the Markel Corp. leadership team since 1986, focusing on finance and investments. He has served as vice chair since 1992. 

 

 

 

Shenandoah University installs largest rooftop solar array among Va. universities

With 1,337 solar panels spread across three buildings, Shenandoah University in Winchester now has the largest rooftop solar power system among the state's colleges and universities, the university announced Friday.

“We are proud to highlight Shenandoah University’s belief in and dedication to environmental stewardship,” Shenandoah University President Tracy Fitzsimmons said in a statement. “With this installation, Shenandoah demonstrates not only the power of solar energy but also the power of people working together to create a better tomorrow.”

Shenandoah's solar panels have the capacity to generate 500 kilowatts of electricity, or 675,000 kilowatt hours per year. The panels are installed on the Alson H. Smith Jr. Library, the Ohrstrom-Bryant Theatre and the James R. Wilkins Jr. Athletics and Events Center.

The university estimates the solar panels will net $1.5 million in electricity savings per year during the next 35 years. 

It's funded in part by Virginia's first solar crowdfunding campaign, which is being led by Staunton-based Secure Futures LLC. 

“On-campus solar energy at Shenandoah University is being funded in part through Virginia’s first solar crowdfunding campaign,” said Tony Smith, CEO of Secure Futures. “Through this innovative program, members of the community are able to invest in the development of solar projects at five different nonprofit institutions around Virginia, starting with Shenandoah University.”

Arlington real estate firm buys Portsmouth apartments for $43.35M

Arlington-based Blackfin Real Estate Investors has purchased The Myrtles at Olde Towne, a 394-unit multifamily community in Portsmouth, for $43.35 million, the company announced Tuesday.

Adjacent to the Naval Medical Center, the nearly 14-acre Myrtles at Olde Towne includes two separate communities and eight buildings, plus two pools, a clubhouse, fitness center and cyber cafe. Olde Towne-I was built in 2006 and is a garden-style complex with elevators serving 246 apartments with 9-foot ceilings. Built in 1972 and renovated in 2006, Olde Towne-II includes 148 apartments in two eight-story buildings.

“The Myrtles at Olde Towne offers a tremendous opportunity to invest in a stable and growing metropolitan area,” said Leslie Furst, Blackfin's chief operating officer, in a statement. “With the presence of federal agencies, expanding medical services, a strong student population and the growth of data and technology sectors, this property is well positioned to support the growing need for housing.”

Founded by Andrew Buchanan and Doug Root in 2016, Blackfin has assembled a portfolio of nearly 4,500 apartment units along the East Coast.

Richmond warehouse sells for $3.5M

A South Richmond warehouse located near Interstate 95 South and the Port of Virginia's Richmond Marine Terminal has sold for $3.5 million, Colliers International announced Monday.

The property at 3310 Deepwater Terminal was purchased by a limited liability corporation named after the property that was incorporated in September. The seller was Alloy Properties LLC.

Matt Anderson, executive vice president, Harrison McVey, associate, and David Wilkins, senior vice president, represented the seller on behalf of Colliers.

 

GOP House Speaker Cox’s chief of staff joins Gentry Locke

Roanoke-based law firm Gentry Locke has tapped Matthew S. Moran, the former chief of staff to Virginia Speaker of the House Kirk Cox, as its government affairs director. 

Moran will join the firm's government and regulatory affairs practice in its Richmond office, which opened in late 2018 with partners Gregory Habeeb and John “Chip” Dicks, both former members of the state House of Delegates. The Richmond office has also added litigation associate Jeffrey Miller and former Williamsburg Vice Mayor Daniel Scott Foster Jr., a commercial associate.

“Gentry Locke is now the only firm than can offer clients the capabilities of two former legislators, one Democrat and one Republican, a senior legislative and political staffer, and a former elected local government official,” said Gentry Locke Managing Partner Monica Monday in a statement. “Matt’s tremendous experience in state policy and strategic communications will be a great asset to our clients and Scott’s experience in local government will be key to supporting our clients’ needs at the local level.”

Moran will provide strategic communications services, helping clients nagivate the state's changing political landscape. Prior to serving as Cox's chief of staff, Moran worked as an adviser to House Speaker Bill Howell, and also worked for U.S. Rep. Morgan Griffith, R-Salem, and 2017 gubernatorial candidate Ed Gillespie. Moran holds a bachelor's degree in government from the University of Virginia.

Cox was re-elected on Nov. 5 but will lose his position as speaker in the next General Assembly session, due to the Democrats taking majority control of the state legislature.

Hubbard Peanut Company expanding in Franklin

Southampton County-based Hubbard Peanut Company Inc. will invest $1.6 million to establish a new production and retail facility in a former grocery store in the city of Franklin, creating 10 new jobs, Gov. Ralph Northam announced Thursday.

“Our administration is focused on creating jobs and stimulating economic development across the commonwealth, particularly in our agriculture sector, Virginia’s largest private industry,” Northam said in a statement. “We are proud to support quality, family-owned businesses like Hubbard Peanut Company that are growing opportunity and helping to revitalize our rural communities. With this new venture and their commitment to using Virginia-grown peanuts, the company will ensure their success is shared with farmers and producers throughout the region.”

Celebrating its 65th anniversary, the company was founded in 1954 by Dot and HJ Hubbard and is known for its Hubs Virginia Peanuts brand. 

The Virginia Department of Agriculture and Consumer Services worked with Franklin city officials and Franklin Southampton Economic Development Inc. to secure the project. Northam approved a $40,000 grant from the Governor's Agriculture and Forestry Industries Development (AFID) fund for the Hubbard Peanut Company expansion, which will also receive matching funds from the city. Hubbard is also eligible to receive state benefits through the Virginia Enterprize Zone Program, administered by the Virginia Department of Housing and Community Development. 

Democrats take control of General Assembly

As anticipated by political analysts, Virginia Democrats regained control of the General Assembly for the first time in 26 years after Tuesday’s pivotal election, which saw a record number of women running for the legislature.

The move paves the way for House Minority Leader Del. Eileen Filler-Corn of Fairfax County to become the first female speaker of the House. (Though Democratic Del. Lashrecse Aird of Petersburg said Tuesday she will challenge Filler-Corn for the post.) She would replace the current Republican speaker, Del. Kirk Cox of Colonial Heights, who was re-elected Tuesday. And it opens the door for a Democratic agenda expected to include gun legislation (such as universal background checks and monthly limits on handgun purchases), criminal justice reforms and increasing the minimum wage.

Democrats also will be in a power position to determine the boundaries of state legislative and congressional districts for the next decade.

“Tonight,Virginia Democrats have once again made history. Starting this January, for the first time in decades, Democrats will control the House, Senate, and the Governor’s Office,” Democratic Party of Virginia Chairwoman Susan Swecker said in a statement issued Tuesday. “This landmark victory is a tribute to our candidates, their commitment to the issues that matter, and the work of a strong Democratic Party of Virginia and our partners. And most importantly, we owe this vicictory to the people of Virginia, who with their votes spoke loudly and clearly in placing control of the House and Senate into Democratic hands. Virginia voters made it clear that the time is now for common-sense gun violence prevention, a raise in the minimum wage, the ratification of the Equal Rights Amendment and all the progressive reforms we campaigned so hard on this year.”

Many Republican incumbents’ seats became vulnerable this election following a June federal court decision that redrew the boundaries of 25 legislative districts to correct what judges deemed racial gerrymandering.

For instance, Republican Del. Chris Jones, chair of the powerful House Appropriations Committee, was unseated Tuesday, losing to Democrat Chris Jenkins in Suffolk. After the redistricting decision, the racial makeup of Jones’ district went from being 26% black and 68% white to 45% black and 50% white, moving the district from solidly Republican to giving Democrats a 15-point advantage.

The election also saw Del. Tim Hugo, the last Republican standing in Northern Virginia, lose his seat to Democratic challenger Dan Helmer.

The Democratic sweep also extended to some local races. Democrats also took control of Prince William County’s Board of Supervisors, which had been helmed by controversial Republican Corey Stewart, who lost a 2018 U.S. Senate race to incumbent U.S. Sen. Tim Kaine.

Virginia Aquarium names new chief operating officer

The city of Virginia Beach has promoted Caryl Thompson as chief operating officer of the Virginia Aquarium & Marine Science Center.

Thompson previously worked as vice president of marketing and public relations for the city-owned facility. A Virginia Beach municipal employee since 1992, she joined the city's Virginia Aquarium department in 2016.

“Caryl is a proven leader,” said Cynthia Spanoulis, president and CEO of the Virginia Aquarium, in a statement released Wednesday. “She has strong technical skills and great business insights, with the ability to understand and further our mission. … Our senior leadership team has never been stronger.”

Thompson holds a master's degree in human resource development and organizational development from George Washington University and earned her bachelor's degree from Old Dominion University.