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Mary Baldwin alum makes $12.5M gift
A 1965 alumna of Mary Baldwin University has given her alma mater $12.5 million, which will mainly go toward unrestricted support of the private university in Staunton, MBU announced Wednesday. Paula Stephens Lambert, a Dallas resident who founded Mozzarella Co. in 1982 and introduced many European handmade cheeses to the United[...]
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 C[...]
The Hilb Group acquires Medicare-focused firm, six Va. companies
Henrico-County based insurance company The Hilb Group LLC finalized its acquisition of Health Quote of Rhode Island Inc. on July 1, it announced Tuesday. Financial terms of the transaction were not disclosed. Health Quote specializes in Medicare offerings, and its clientele will join THG’s Medicare practice. THG CEO Ricky Spiro said in a statement, “Our […]
Diversity Leadership Series: Ron Carey and Brian Robertson
Brought to you by Virginia Business and Bank of America, join us every other month for the Diversity Leadership Series — virtual fireside chats with a diverse group of Virginia business leaders sharing their insights and thoughts on leadership, their career paths, and diversity and equity. Our series kicked off on July 20 with[...]
Fed says Fifth District economy growing moderately
[wpdiscuz-feedback id=”z7qx6rb9ba” question=”Why?” opened=”0″]Amid the post-pandemic recovery[/wpdiscuz-feedback], the Federal Reserve’s Fifth District (including Virginia, North Carolina, South Carolina, West Virginia and Maryland) has been seeing moderate economic growth in recent week[...]
Va. Hospital Center receives $5M gift from Arlington CEO
Virginia Hospital Center in Arlington has received a $5 million donation from longtime donor Lola C. Reinsch to promote the hospital’s campus expansion efforts. “We are honored to receive this gift and would like to thank Lola and the Reinsch Pierce family for their enduring commitment to Virginia Hospital Center,” Virginia Hospital Center Foundation President Tony […]
Scottish company to locate data center HQ in Loudoun
Scottish energy solutions company Aggreko plc will establish its data center division’s North American headquarters in Leesburg, according to an announcement Friday from Loudoun County’s economic development department. Headquartered in Glasgow, Scotland, Aggreko provides temporary power generation equipment and temperature control equipment. “We are pleased to welcome Aggreko to the growing ecosystem of energy and […][...]
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 [...]
Huntington Ingalls Industries to acquire Alion in $1.65B deal
Newport News-based Fortune 500 military shipbuilder Huntington Ingalls Industries will acquire McLean-based defense contractor Alion Science and Technology Corp. from Veritas Capital in a $1.65 billion, all-cash deal, HII announced in a news release Tuesday. The deal is expected to close by the end of this year, with Alion becom[...]
Commercial truck, van floor manufacturer to build $12.8M plant in Patrick County
Prolam LLC, a Canadian manufacturer of hardwood floors for commercial trucks and dry van trailers, will invest $12.8 million to establish its first U.S. manufacturing plant at the former Ten Oaks satellite facility in Patrick County, creating 58 jobs, Virginia Gov. Ralph Northam announced Wednesday. The facility will increase Prolam’s manufacturing capacity by 50%, and […]
Shenandoah Growers taps ex-Starbucks exec as new CEO
Rockingham County-based indoor agriculture company Shenandoah Growers Inc. has appointed former Starbucks Inc. Chief Marketing Officer Matthew Ryan as the company’s new CEO. And Mike Buckley, former senior vice president of business for Postmates, has been hired as Shenandoah Growers’ chief financial officer, the com[...]
Timber exporter building $1.1M facility in Suffolk
Kristi Corp. a global supplier of industrial raw materials for aluminum and steel metallurgical industries, will build a $1.1 million log load and fumigation facility in Suffolk, creating 10 jobs, Virginia Gov. Ralph Northam announced Tuesday. The company will source 100% of its exports from Virginia logging companies. Virginia competed with North Carolina and Pennsylvania […]
