Sign In
Free Newsletter
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 […]
Winter frolic at Liberty snowballs into controversy
It’s no Falwell-sized scandal, but interim Liberty University President Jerry Prevo issued an apology Tuesday for a snowball fight that got out of hand on Sunday morning. “This past Sunday morning as I opened the curtains and looked outside, I saw a Liberty University campus covered in deep snow. Having lived in Alas[...]
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 […]
Chase sues Senate over censure, claims civil rights violation
A week after being censured by the state Senate, Sen. Amanda Chase, R-Chesterfield County, is suing the legislative body and its clerk for violating Chase’s civil rights, including her First Amendment right to freedom of speech, she announced Monday. Virginia Beach attorney Tim Anderson said Monday he has filed a lawsuit o[...]
Developers see green with state’s first ecodistrict
The rooftop of a former office building might not appear to be the ideal location to harvest tomatoes, corn and squash, but that may be the fate of Best Products’ former headquarters. From the ashes of the failed $1.5 billion Navy Hill project that sought to redevelop Richmond’s downtown, a similar arena-anchored project cal[...]
Charlottesville’s MicroGEM acquires engineering company for COVID-19 test manufacturing
Charlottesville-based molecular diagnostics company MicroGEM announced Thursday it has acquired New Hampshire-based engineering company Jump Start Manufacturing LLC. Financial terms of the transaction were not disclosed, but the acquisition will allow MicroGEM to “rapidly scale” production of its SARS-CoV-2 (COVID-19) testing system, which is designed to detect the virus in both symptomatic and asymptomatic people. […][...]
Va. Community Capital president, CEO to retire this year
Richmond-based nonprofit Virginia Community Capital (VCC) announced last week that President and CEO Jane Henderson will retire this year after four decades in the banking industry. Henderson has led VCC, a community development financial institution, since its 2006 inception. She has spent 29 years in community development fi[...]
UPS to sell Richmond-based freight biz for $800M
Atlanta-based United Parcel Service Inc. will sell its Richmond-based UPS Freight unit to Canadian logistics company TFI International Inc. for $800 million, the package delivery company announced Monday. UPS Freight provides less-than-truckload (LTL) shipments (used for small freight transportation) across all 50 states, Mexico[...]
Former PBMares CEO named 2021 Chamber board chair
The Virginia Chamber of Commerce on Friday elected Alan Witt, former CEO of Newport News-based accounting and consulting firm PBMares LLP, to serve as its 2021 chair of the board of directors. He succeeds 2020 Chair Paige Clay, a senior partner with Mercer. Witt has been a Virginia Chamber of Commerce board member since 2016 [&h[...]
At 10-year mark, CarLotz goes public
Nearing its 10-year anniversary, CarLotz, a used-cars consignment company founded in Chesterfield County, went public on Friday. In October 2020, CarLotz first announced it would merge with special purpose acquisition company Miami-based Acamar Partners Acquisition Corp. — a deal that was approved by stockholders Jan. 8 and cl[...]
