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The Hilb Group makes third acquisition announcement of 2021
Henrico County-based insurance company The Hilb Group LLC made its third acquisition announcement of the year, with the purchase of Lake Success, New York-based Rampart Brokerage Corp. & Affiliates. Financial details of the acquisition were not disclosed. Founded 55 years ago, Rampart Brokerage Corp. and Affiliates (RBC) employs nearly 200 people and serves as a […]
Amazon reveals Arlington HQ2’s ‘Helix’ centerpiece
Despite lingering questions around when or how remote workers may return to office life following the pandemic, Amazon.com Inc. on Tuesday released fresh plans for the second phase of its $2.5 billion East Coast HQ2 headquarters in Arlington’s National Landing area, where it is gearing up to employ 25,000 people during the nex[...]
Carlyle Group buys two Va. tech companies; forms Two Six Technologies
An affiliate of Washington, D.C.-based global investment firm The Carlyle Group has acquired Virginia tech companies IST Research and Two Six Labs to form Two Six Technologies Inc., which will provide tech services to the intelligence community, the Department of Defense and other national security customers. Financial terms of the acquisitions were not disclosed, but […]
McLean tech contractor acquires Fairfax firm
McLean-based tech contractor IntelliBridge Inc. announced Monday it has acquired Fairfax-based tech company Alethix LLC. Financial terms of the transaction were not disclosed, but the acquisition will add DevSecOps and cloud services to IntelliBridge (which is backed by Enlightenment Capital), and also expand its clientele to include homeland security, federal-civilian and defense agencies. Founded in […][...]
Roanoke County launches economic development strategic plan
Roanoke County Economic Development announced Monday it has launched Elevate Roanoke County 2026, a five-year strategic plan focusing on the county’s economic development program . The Virginia Tech Office of Economic Development will work with Roanoke County Economic Development, which is also funding the project in partnership with Appalachian Power. “Developing a strategic plan is […][...]
Gannett to refinance $1.05B in debt
McLean-based Gannett Co. Inc., the largest newspaper publisher in the U.S., announced Monday it will refinance $1.05 billion in debt to lower its interest rates and extend maturity on outstanding debt. Gannett, which has struggled financially during the pandemic, in November 2020 announced it had refinanced approximately $500 million in debt to more quickly repay […]
Peraton closes on $3.4B cash purchase of Northrop Grumman biz
Falls Church-based Fortune 500 aerospace and defense contractor Northrop Grumman Corp. announced Monday the closure of the sale of its federal IT and mission support services business for $3.4 billion in cash to Herndon-based national security contractor Peraton, a Veritas Capital affiliate. According to the December 2020 announcement about the sale, proceeds are expected to […]
Pharma manufacturer announces Albemarle County expansion
Pharmaceutical manufacturer Afton Scientific LLC will invest $500,000 to expand its Albemarle County operations, adding 20 jobs, Gov. Ralph Northam announced Monday. The company will add 8,000 square feet to its 2020 Avon Court facility to “accommodate its 50% growth over the past year and expected similar growth in 2021,” according to a statement from […]
Wells Fargo to lay off 320 Henrico County employees
The investment management and financial brokerage business unit of Wells Fargo & Co., Virginia’s third-largest bank by 2019 deposits, will lay off 320 employees from its Henrico County office. The wealth and investment management jobs are moving to some of the bank’s larger locations, Wells Fargo Advisors spokesperson Shea Leordeanu said in a statement. Wells […]
Blue Ridge Bank, Bay Banks complete merger
Charlottesville-based Blue Ridge Bankshares Inc., the parent holding company of Blue Ridge Bank, announced Monday it has completed the merger with Richmond-based Bay Banks of Virginia Inc., the parent holding company of Virginia Commonwealth Bank. Virginia Commonwealth Bank will continue to operate under its current name until systems are converted in May. The bank will […]
Va. hotel revenues fell 42% in December 2020
Virginia hotel revenues for December 2020 were on trend for a year that saw the hospitality industry suffer from the pandemic. Compared with December 2019, hotel revenues statewide declined by 42% during December 2020, according to data released Monday from STR Inc., a CoStar Group division that provides weekly market data on the U.S. hospitality […]
Rockingham County gets a little sweeter
Smiley’s Ice Cream will invest more than $1.15 million to build a new ice cream manufacturing facility and retail store in Rockingham County, creating eight jobs, Gov. Ralph Northam announced Friday. The homemade-style ice cream producer will source an additional 18,000 gallons of Virginia-produced dairy and 2,500 pounds of Virginia-grown fruits during the next three […]
