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Chantilly-based VTG acquires Fairfax’s Intelligent Shift
Chantilly-based engineering firm VTG announced Jan. 13 it has acquired Fairfax-based tech company Intelligent Shift. Financial terms of the transaction were not disclosed. VTG provides services for naval, aerospace and digital projects, while Intelligent Shift develops technology for U.S. intelligence organizations. The transaction will strengthen VTG’s systems, software and digital engineering capabilities, according to a […][...]
Hilton to sell $1.5B in private debt offering
While the hospitality industry continues to struggle amid the pandemic, McLean-based Hilton Worldwide Holdings Inc. announced Tuesday it will sell $1.5 billion in debt in a private offering to institutional buyers. This mark’s Hilton’s second major debt offering within the past couple of months. In November 2020, Hilton announced its $1.9 billion debt offering, from […]
Packaging manufacturer to launch $45M expansion in Pittsylvania County
During the next four years, Intertape Polymer Group Inc. (IPG) will expand its Pittsylvania County manufacturing operation, investing approximately $45 million and creating 50 jobs, Gov. Ralph Northam announced Tuesday. The packaging products and systems company will add 30,000 square feet to its facility at 1101 Eagle Springs Road and invest in production, operations and […]
The Hilb Group acquires Mich.-based agency
In its second acquisition announcement of the new year, Henrico County-based insurance company The Hilb Group LLC said Tuesday it has acquired Linwood, Michigan-based Owen Moore Insurance Agency, effective Dec. 31, 2020. Financial details of the acquisition were not disclosed. Founded in 1973, Owen Moore Insurance Agency (OMA) is a full-service property and casualty agency. […]
Navy awards HII $175M contact
The U.S. Navy awarded Newport News-based Huntington Ingalls Industries (HII) a $174.9 million contract to maintain and repair elevator support units aboard the branch’s nuclear-powered aircraft carriers, the Department of Defense announced Friday. HII will perform work on units stationed across the United States and other deployed locations, according to the DOD. Work is expected […]
Constellis CEO resigns, replaced by lead director
Herndon-based federal contractor Constellis announced Tuesday that CEO Tim Reardon has resigned to “pursue other interests,” and the company’s lead director, Terry Ryan, will replace him, effective immediately. “It has truly been an honor to lead such a great company with so many exceptional people, and I am excited [...]
Applications open Jan. 19 for new PPP round
The relief loan floodgates will reopen Tuesday, as the U.S. Small Business Administration opens the latest $284.5 billion round of Paycheck Protection Program (PPP) funding available. This time, borrowers who received allocations during the initial rounds of PPP funding in 2020 can reapply under Second Draw PPP Loan applications. First Draw PPP Loans are for […]
Four industrial buildings in Spotsylvania County sell for $14M
Four industrial buildings in Spotsylvania County sold for $14 million and will be redeveloped into an apartment complex, Cushman & Wakefield | Thalhimer announced Monday. The 495,830-square-foot, four-building Fredericksburg Industrial Park is located at 11800-11900 Main Street and 10857 Houser Drive in Spotsylvania County. [...]
Commercial real estate lease roundup
Northern Virginia Foundation Building Materials LLC leased 25,259 square feet of industrial space at 14920-14970 Farm Creek Drive in Woodbridge. Virgil G. Nelson of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the tenant. Johnson Roofing Systems Inc. expanded and renewed its lease of 6,000 square feet of industrial space at […]
Wood products manufacturer will create 73 jobs in Russell County
Rambler Wood Products is investing $7.6 million to establish a wood products manufacturing facility in Saint Paul, creating 73 jobs in the Russell County area, Gov. Ralph Northam announced Friday. “As Virginia’s third-largest private sector industry, forestry supports thousands of quality jobs in our rural communities and co[...]
Laminating company to add 42 jobs in Henry County
Custom laminating company Laminate Technologies Inc. will invest $4 million to expand its Henry County facility in Ridgeway, creating 42 jobs, Gov. Ralph Northam announced Friday. The company’s manufacturing facility, which opened in 2012, is located at 775 Industrial Park Drive, where an automated hardwood plywood press line will be installed to increase its capacity […]
Shenandoah County distillery faces environmental violation charges
Maurertown-based Filibuster Distillery LLC and its co-founder, Sid Dilawri, have been indicted on 115 counts of violating State Water Control laws by allegedly dumping more than 40,000 gallons of industrial waste into a Shenandoah County stream, according to the Virginia Office of the Attorney General. The Shenandoah County dist[...]
