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Boston private equity firm to acquire Sauer Brands
Duke’s Mayo and its parent company, Richmond‘s Sauer Brands, will change hands in a deal between Boston-based private equity firm Advent International and North Carolina’s Falfurrias Capital Partners, which purchased Sauer a little over five years ago. Terms of the pending acquisition, which was announced Monda[...]
Here’s what Richmond Fed chief forecasts for 2025 economy
The economic forecast for 2025 is sunny, with a high chance of business optimism, according to Federal Reserve Bank of Richmond President and CEO Tom Barkin, who spoke Thursday during the virtual 2025 Financial Forecast held by the Virginia Bankers Association and the Virginia Chamber of Commerce. “I went back this morning and[...]
Richmond starts water testing, but city remains under boil water advisory
On Thursday, Richmond Mayor Danny Avula said that water levels have risen across the city to the point that authorities have started testing samples for contamination and most buildings in the city have at least some running water, four days after the city’s water treatment plant failed following a winter storm. A Jan. 6 p[...]
Richmond water crisis shuts down many restaurants, businesses
Jan. 9 update: Richmond starts water testing, but city remains under boil water advisory “Dry January” became all too literal in Richmond, where most city residents and businesses were struggling with a water outage that started Monday afternoon and was still leaving much of a city with a population of more than 225,[...]
Chesterfield’s Springline development moves forward
Timmons Group expects to move its headquarters from a Chesterfield County office park into the county’s new Springline at District 60 mixed-use project in the first quarter of 2025. The five-story, 150,000-square-foot building is one of three buildings in the first phase of the development near the Chippenham Parkway and M[...]
World’s first commercial fusion power plant planned for Chesterfield
Commonwealth Fusion Systems, a Massachusetts-based fusion energy company, plans to build the world’s first grid-scale commercial fusion power plant in Chesterfield County, Gov. Glenn Youngkin announced Tuesday. “It’s a nearly $3 billion capital investment, paying taxes, and it’s a bunch of really high-tec[...]
Richmond’s Movieland at Boulevard Square to undergo $5M glow-up
Movieland at Boulevard Square, the city of Richmond‘s only first-run movie theater, is undergoing approximately $5 million in renovations and upgrades. The project, which began in October and is expected to be completed in spring 2025, represents “the most extensive enhancements to the theater since it opened in 2009,”[...]
Developer plans $3B data center in Appomattox County
A Connecticut developer plans to build a $3 billion data center on a 452-acre site in Appomattox County. AVAIO Digital Partners announced Tuesday it had signed an agreement with the Appomattox County Economic Development Authority to purchase the industrial site. “This project in Appomattox County exemplifies our strategy of e[...]
U.Va. Darden School dean reappointed to third term
Scott C. Beardsley, dean of the University of Virginia’s Darden School of Business, has been reappointed to his third term as dean, which starts Aug. 1, 2025, and extends through August 2029, U.Va. announced Wednesday. Named dean in 2015, Beardsley is now the university’s longest serving current dean and has raised m[...]
Dominion Energy COO Diane Leopold to retire after nearly three decades
Dominion Energy Chief Operating Officer Diane Leopold plans to retire from the Fortune 500 utility this summer after working for nearly four decades in the industry. Leopold, who will remain as COO and executive vice president until she steps down on June 1, 2025, oversees major construction projects such as Dominion’s $9.[...]
Aiming for the fences
When renters tour the new Novel apartment building in Richmond‘s Scott’s Addition neighborhood, one fifth-floor vantage point has particular appeal. The windows on the building’s east side look across Arthur Ashe Boulevard onto the site where the Richmond Flying Squirrels’ new baseball stadium, CarMax Par[...]
Powhatan green-lights $2.7B data center campus
Although some Virginia counties are backing away from hosting more data centers, Powhatan County supervisors voted 3-2 in October to approve an estimated $2.7 billion data center campus. The project will be on 119.9 acres partly bordering Chesterfield County, and supervisors OKed rezoning and a conditional use permit, rejecting [...]
