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byline: Sydney Lake

Virginia Law Foundation names 2021 president

The Virginia announced Tuesday that Jon D. Huddleston has been named as president for 2021. He succeeds Matthew E. Cheek.

Huddleston is a principal with Leesburg-based Sevila, Saunders, Huddleston & White PC, where he has practiced since 1986 specializing in family law and serious traffic offenses. 

From 2009 to 2010, he served as the president of the Virginia State Bar (VSB) and has previously served as chair and executive committee member for the VSB’s Conference for Local Bar . He is also a past president of the Loudoun County Bar .

“Passing the baton of the Virginia Law Foundation’s presidency to someone like Jon Huddleston is both an honor and a luxury,” Cheek said in a statement.

Founded in 1974, the Virginia Law Foundation has disbursed more than $26.5 million in grants in support of law-related projects throughout the state.

 

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Herndon contractor names president, crisis response

-based announced Monday it has promoted Rick Tye as president of the company’s crisis response business.

Joining Constellis in 2017, Tye was most recently the company’s chief growth officer. Darryle Conway will succeed him in this role. Constellis’ crisis response business provides customers with response and planning services to reduce risk, prepare for hazards and recover from crises. 

In Tye’s new role, he will focus on Constellis’ crisis response business, including response, fire and emergency services, emergency and disaster response and other priority programs. 

“Rick’s new position as president, crisis mitigation, was established to address the need for rapid crisis response solutions within our customer sets,” Constellis CEO Tim Reardon said in a statement. “This is an important new role for Rick and a vital service in today’s .”

Founded in 2010, Constellis employs 24,000 and provides risk management, security, training and operational support in 40 countries.

 

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Chesapeake gas, diesel sales company names new president, CEO

-based natural gas and diesel engine sales company announced last week it has named Willard “Rob” Robins as president and Scott Wheeler, current president and founder, as CEO.

Scott Wheeler. Photo courtesy Bay Diesel
Scott Wheeler. Photo courtesy Bay Diesel

This marks the first time since its 1982 inception that Bay Diesel has a new president. Robins joined the company in 2003 as a sales engineer. In his new role, he will oversee day-to-day services while Wheeler will oversee corporate matters.

“A lot has changed since Bay Diesel started out the back of my Volkswagen Rabbit,” Wheeler said in a statement. “It’s time we had the next generation bring Bay Diesel into the future.”

Robins, who is now a certified instructor with the Milwaukee School of Engineering, earned his mechanical engineering degree from the University of Virginia.

Bay Diesel, a veteran-owned small business, specializes in natural gas and diesel engine sales for marine, industrial and power generation clients. It is the territory distributor for Generac Power Systems.

Outside of Bay Diesel, Robins also serves on the board of festevents in Norfolk and the Living River Trust. He has also served on the board of directors for the Propeller Club.

“I am excited to continue building on the 38-year that Scott and the rest of our team has established,” Robins said in a statement.

 

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Herndon company acquires N.Y.-based IT firm

Herndon-based IT assets selling and financing company ePlus Inc. announced Monday it has acquired Rochester, New York-based System Management and Planning Inc. (SMP), an company that provides services in New York and the Northeast.

Terms of the were not disclosed, but the transaction will increase ePlus’ regional footprint.

“Acquiring SMP strengthens our existing presence in the region, and its focus on collaboration and related solutions to support at-home workers is extremely relevant in today’s market,” ePlus CEO and President Mark Marron said in a statement. “Our combined capabilities will allow us to deliver a broader array of solutions to customers, and we extend a warm welcome to the talented SMP team.”

The acquisition of some assets and liabilities closed on Dec. 31, 2020.

“The depth of expertise and resources available from ePlus will provide significant benefit to our customers and we’re excited to begin this next chapter,” SMP Chief Operating Officer Peter Allen said in a statement.

ePlus, which designs and implements network, security and storage solutions, reported $1.37 billion in net sales for 2019 and employs more than 1,500 workers.

 

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Politico to acquire E&E News

-based political and policy-focused organization announced last week it will acquire and news organization E&E News.

Terms of the were not disclosed, but the purchase will add energy and environmental coverage, according to a company statement. The E&E Brand will remain intact.

“We are doubling down on our policy coverage by investing in journalism and growing our product offerings in the energy and environmental policy space, which touches all aspects of the economy and government,” Politico Publisher and Executive Chairman Robert Allbritton said in a statement.

E&E currently has more than 65 reporters and editors across the United States. Founded in 2007, Politico employs nearly 600 in North America — with more of half being editorial staff. 

“I believe the combination of E&E News’ trusted, independent and comprehensive journalism and Politico’s ambitious reporting, influential audience and innovation will provide unparalleled and unique coverage of energy and environmental issues that our subscribers and the world need right now,” E&E News co-founder and Publisher Michael Witt said in a statement.

 

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Qatar Investment Authority invests $125M in Arlington company

-based storage provider Fluence announced last week that the Authority (QIA) will invest $125 million in the company.

Fluence is a joint venture of Arlington-based energy company AES Corp. and industrial manufacturing giant Siemens. The company will use the investment to develop digital products and deploy existing products to additional global markets. AES and Siemens will continue as major shareholders, each with approximately a 44% stake in the company.

“We see energy storage as the linchpin of a decarbonized grid and adding QIA to our international shareholder base will allow Fluence to innovate even faster and address the enormous global market for large-scale battery-based energy storage,” Fluence CEO Manuel Perez Dubuc said in a statement. 

The QIA is one of six founding members of the One Planet Sovereign Wealth Fund Initiative, which focuses on climate change issues related to financial decisions.

“We believe energy storage will play a key role in delivering cleaner, more sustainable and more resilient electric grids around the world,” QIA CEO Mansoor bin Ebrahim Al-Mahmoud said in a statement. “This investment further underpins our commitment to responsible investing for a low-carbon future.”

Fluence has more than 2.4 gigawatts of projects in operation or awarded across 24 countries and territories worldwide.

 

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Riverside Tappahannock Hospital becomes part of VCU Health System

Richmond-based System announced Monday it has finalized its purchase of the 67-bed Riverside Tappahannock Hospital (RTH) and related medical services from .

Financial terms of the transaction were not released. The hospital will now operate as VCU Health Tappahannock Hospital.

acquired the hospital and its related services, including diagnostics, physical therapy, Tappahannock Urgent Care and Riverside Medical Group providers’ locations in the Northern Neck. Patients in the region also will have access to VCU Health’s services, including clinical trials and medical specialists. The two systems began a partnership in 2019 with a collaboration between the Tappahannock hospital and VCU Massey Cancer Center, which began offering cancer care to RTH patients, including access to clinical trials and other services at Massey and the VCU Medical Center.

RTH employees will transition to VCU Health System on July 1. Until then, they will remain on Riverside’s payroll.

“Bringing all the benefits of academic from Richmond directly to the residents of the Northern Neck continues Riverside’s effort to fulfill its promise to the residents here — to bring the highest level of care possible as close to home as possible,” RTH President Liz Martin said in a statement.

“Riverside Health System and VCU Health share the same values and commitment to improving the health of our communities by expanding access to quality care and providing leading-edge, compassionate and effective health care close to home,” Riverside CEO Bill Downey said in a statement. “Having a Richmond-based affiliation will allow for an even better care continuum and care coordination for residents of the Northern Neck.”

Newport -based Riverside Health System was founded in 1915 and sees approximately 2 million patients annually. The health care system operates five acute-care hospitals, including RTH; one behavioral health hospital and a physical rehabilitation hospital. Riverside Medical Group has more than 650 providers in more than 100 practices.

VCU Health encompasses Virginia Commonwealth University’s health sciences academic programs, the VCU Massey Cancer Center and the VCU Health System, which includes the VCU Medical Center, Community Memorial Hospital, Children’s Hospital of Richmond at VCU, MCV Physicians and Virginia Premier Health Plan.

 

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$2.7B Genworth acquisition is on hold

UPDATED JAN. 5

-based Financial Inc.’s planned $2.7 billion by China-based Oceanwide Holdings Group Co. Ltd. has been frozen.

In late November, the companies announced that Oceanwide’s acquisition of the Fortune 500 company had been reapproved by China’s National Development and Reform Commission, and the acquisition, which has been frequently postponed since 2016, was previously delayed until Dec. 31, 2020. However, on Monday, Jan. 4, with the acquisition still not finalized, both companies said that “the merger agreement remains in effect,” although the deadline was not extended. 

“When we considered our most recent extensions of the merger agreement, Genworth’s board of directors believed we were on a path to a near-term closing based on the information we were provided,” James Riepe, non-executive chairman of Genwort’s board, said in a statement. “Given the most recent update, we do not believe a closing can occur in the near term.”

But while the merger finalization remains in question, Genworth also announced Monday it would focus on its contingency plan — including a potential partial initial public offering (IPO) of the company’s business. This would help the business meet its $1 billion in debt obligations due this year.

During a special shareholders meeting on Tuesday morning hosted by Genworth CEO Tom McInerney, he said that the company is planning the IPO for the first half of 2021. 

“We have been working on this plan throughout 2020 while simultaneously working with Oceanwide to close this transaction,” McInerney said during the Tuesday call. “Given that we did not extend the merger agreement deadline, Genworth can terminate the transaction at any time if we think that is better from a shareholder value perspective.”

Although further details regarding the timeline and terms for the IPO were not shared during the Tuesday call, the company has an “increased focus on the contingency plan,” McInerney said. Additional details will be shared “as soon as possible.” Genworth will hold its fourth quarter 2020 earnings call in early February.

In a statement released Monday, McInerney said, “While we are disappointed that we could not close the transaction by the end of 2020, the parties retain the ability to ultimately complete the transaction if Oceanwide can secure the required funding and the parties can complete the remaining steps to closing, and if the transaction is still in the best interests of Genworth at that time. At the same time, we are moving forward with our contingency plan to meet our near-term obligations and maximize long-term value, which we believe is the best approach for our shareholders.”

According to company statements, financing and -related restrictions have been to blame for the acquisition, which was first announced in 2016. In June, the Virginia State Corporation Commission’s Bureau of Insurance reapproved the merger, and the companies agreed to a 15th waiver and agreement to each party’s right to terminate the proposed agreement. 

On Oct. 1, 2020, Genworth announced that Oceanwide had reached an agreement with Chinese private equity firm Hony Capital on the commercial terms and conditions of its $1.8 billion offshore financing plan to complete its acquisition of Genworth. As of the companies’ Monday announcement, however, finalization of the Hony Capital financing terms was still holding up the merger.

“We believe that closing the Oceanwide transaction will deliver the greatest value for Genworth shareholders and we’ve done everything we can to make that outcome a reality,” McInerney said during the Tuesday call. “We are therefore leaving open the possibility of ultimately closing the transaction if Oceanwide can secure the required funding and the parties can complete the remaining steps to closing and if the transaction is still in the best interest of Genworth at that time.”

Also on Oct. 1, 2020, the companies agreed to a 16th waiver and agreement of each party’s right to terminate their previously announced merger agreement. It extended the previous deadline of Sept. 30 to no later than Nov. 30. Oceanwide, however, had not reached a final agreement on all terms and conditions due to pandemic-related challenges including travel restrictions and mandatory quarantine requirements.

“We believe the value of the transaction is significant for both parties’ stakeholders, and are continuing to work towards completing the transaction with Genworth,” Oceanwide Chairman Lu Zhiqiang said in a statement.

 

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Reston-based contractor Amyx taps two new VPs

Reston-based Amyx Inc. announced last week it has hired Christopher Ziniti as vice president of defense and promoted Roman Dzialo to vice president of strategic programs.

U.S. Army Veteran Ziniti has more than 15 years of experience in the federal market specializing in logistics, , security and intelligence. In his new role, he will oversee a unit that serves the Air Force, Army, Defense Health Agency, United States Transportation Command, National Guard Bureau, Army National Guard and the Defense Threat Reduction Agency.

Ziniti ‘s “experience working with some of our current customers as well as new ones will position us to expand in areas throughout the defense market,” Amyx CEO and President William Schaefer said in a statement.

Dzialo, a U.S. Navy veteran, has specialized in IT modernization, electronics and telecommunications for the past 20 years and worked for the Defense Logistics Agency (DLA) as an application administrator and technician, and program manager, among other roles. He joined Amyx in 2015 as a program manager.

In his new position, he will oversee the DLA and Defense Information Systems Agency accounts.

“Roman has been critical to our success in the full and open market,” Schaefer said in a statement. “He is routinely commended by our customers for his dedication to quality and real understanding of the challenges they face every day.”

Founded in 1999, Amyx provides services including IT, systems engineering, cybersecurity and program management.

 

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Five Va., Md.-based electric coops form broadband association

With internet connectivity issues growing in importance during the pandemic, five electric cooperatives in Virginia and Maryland have formed a cooperative aimed at encouraging the expansion of high-speed internet service in underserved rural areas.

The new Maryland and Delaware Association of Broadband Cooperatives (VMDABC) includes Millboro-based BARC Electric Cooperative and its BARC Connects subsidiary; Arrington-based Central Virginia Electric Cooperative and its Firefly Fiber Broadband subsidiary; Waverly-based Prince George Electric Cooperative and its Ruralband subsidiary; as well as Chase City-based Mecklenburg Electric Cooperative and its Empower Broadband subsidiary and Denton, Maryland-based Choptank Electric Cooperative and its Choptank Fiber LLC subsidiary.

“This association is the first of its kind in the nation,” said the group’s new board chairman, Prince George Electric Cooperative CEO Casey Logan in a statement. “Much like the Virginia, Maryland & Delaware Association of Electric Cooperatives was created 76 years ago during the formative years of rural electrification, today’s formal organization of a broadband association will improve the quality of life for our members.”

Southwest Virginia has long been affected by the digital divide. Only 49% of households in Virginia making less than $20,000 per year have a broadband subscription, and in some areas of Southern Virginia, Southwest Virginia and the Shenandoah Valley, as many as 60% of households do not have internet service, according to 2019 data from the Federal Reserve Bank of Richmond.

“Broadband access is something our members desperately need, as many rural areas are once again being left behind,” Mecklenburg Electric Cooperative CEO John C. Lee Jr. said in a statement. “Generations of future Virginians and Marylanders will have opportunities to learn, to work, to communicate and to enjoy benefits long available to those in cities and suburbs, thanks to the efforts of our group of broadband cooperatives.”

Choptank Electric Cooperative CEO Mike Malandro will serve as the first vice chairman of the new association, while Central Virginia Electric Cooperative Director Brian Bates will serve as its inaugural secretary-treasurer.

“We are hoping and intending for this broadband association to help bring unserved areas in our three states into the digital age, much as our electric cooperative members brought their communities into the electric age in the 1930s and ’40s,” VMDAEC President and CEO Richard G. Johnstone Jr. said in a statement.

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