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Private equity firm completes buy of Herndon’s Exostar
Arlington Capital Partners has completed its acquisition of Herndon-based cybersecurity company Exostar, the Chevy Chase, Maryland-based private equity firm announced Monday. The deal was announced in September, and financial terms were not disclosed. It comes a little more than three years after Exostar was acquired by Chicago-[...]
International logistics company to expand in Norfolk
Katoen Natie Norfolk, a subsidiary of Belgian international logistics service provider and port operator Katoen Natie, will invest $59.9 million to expand its Norfolk facility and create an estimated 76 jobs. Katoen Natie Norfolk will add a 450,000-square-foot warehouse and rail yard, and expand its existing rail spur, which will allow more room to load […]
Communities must rally to solve housing issues, Barkin says
Homeownership is becoming increasingly unattainable for too many workers, and communities are going to need to make innovative decisions to create more affordable housing if they want to attract talent, Federal Reserve Bank of Richmond President and CEO Tom Barkin said Wednesday during the Virginia Governor’s Housing Conferen[...]
Richmond to host 2026 national speech and debate tournament
The Richmond region will host a June 2026 national speech and debate tournament that’s expected to bring 10,000 students and visitors to the region. The National Speech & Debate Association, Richmond Region Tourism and the nonprofit Richmond Forum made the announcement Monday. “I know this will be one of the best tou[...]
Va. Beach digital solutions company to add 300+ jobs
Virginia Beach-based Doma Technologies, a software company founded in 2000, will invest $3.7 million to expand in the city, adding about 307 jobs in the next three years and bringing its total to about 500 employees, Gov. Glenn Youngkin announced Thursday. The expansion will include a new 69,000-square-foot facility. Doma is currently located along London […]
Mars to acquire British chocolatier for $662M
A subsidiary of McLean-based international candy and pet food manufacturer Mars, the largest privately held company in Virginia, has agreed to acquire Britain’s Hotel Chocolat for $662 million, Mars announced Thursday. Bidco, a wholly-owned subsidiary of Mars, will acquire Britain’s largest chocolate maker in a cash offer at[...]
Forvis to acquire Mazars’ U.S. operation
Top 10 U.S. accounting firm Forvis, which has about 270 employees in Virginia, announced Wednesday it will acquire Paris-based audit, tax and advisory firm Mazars’ U.S. arm, creating a new top 10 global accounting network to be known as Forvis Mazars. The merger is set to go in effect June 1, 2024, and the combined [&helli[...]
Carpenter to acquire N.C. foam manufacturer
Richmond-based polyurethane foam manufacturer Carpenter has signed an agreement to acquire North Carolina-based NCFI Polyurethanes’ Consumer Products division, the company announced Wednesday. Carpenter declined to disclose financial terms of the transaction. The NCFI division has about 150 employees, who will join Carpenter�[...]
Lynchburg association lands $310k in grants to aid downtown efforts
With help in part from three state grants, Downtown Lynchburg Association is working to brighten the city’s scenic Bluffwalk for the holidays and fill downtown stores. DLA combined a $75,000 Virginia Main Street Downtown Investment Grant with other funding to launch Bright Nights on the Bluffwalk, an eight-week event set to ki[...]
Northrop Grumman to establish $200M Waynesboro facility
Falls Church-based Fortune 500 defense contractor Northrop Grumman will invest more than $200 million to establish an advanced electronics manufacturing and testing facility in Waynesboro, creating an estimated 300 jobs over the next five years, Gov. Glenn Youngkin announced Tuesday. “Northrop Grumman’s expanding Virgini[...]
Spanberger declares run for Va. governor
U.S. Rep. Abigail Spanberger on Monday declared she is running for Virginia governor and will not seek another term in Congress. The Democrat, who is in her third term in the U.S. House of Representatives, released a video announcing her bid. Spanberger’s the first candidate to declare so far in the 2025 race, but in [&hel[...]
Richmond-area mainstay Saxon Shoes moves onto its next step
When Gary Weiner’s parents, Jack and Gloria, opened Saxon Shoes in Richmond in 1953, they mostly carried shoes for children with orthopedic needs. Now, 70 years later, the store has something for everyone and is about 10 times the size of the average shoe store and operates in Henrico County’s Short Pump area. It’s be[...]
