Industries

Central Virginia—For the Record

  •  | 
Print this page

Adenosine Therapeutics LLC, a Charlottesville drug-development company, has been acquired by the Boston-based biotechnology firm Clinical Data Inc. in a $66 million deal. Adenosine Therapeutics develops drugs for treatment of diseases such as diabetes, asthma and sickle-cell anemia. The firm’s Charlottesville office will remain open, and its 30 employees will remain with the company. (Media General News Service)

Dominion Retail, an energy marketing subsidiary of Richmond’s Dominion Inc., bought Cirro Energy, a retail power provider headquartered in Richardson, Texas. After the deal closes, Dominion Retail will provide energy and related services to 1.7 million customers in 12 states. Cirro will become a subsidiary of Dominion Retail and maintain its operations in Texas. (PRNewswire)

Earle M. Jorgensen Co., a distributor of metal products headquartered in Lynwood, Calif., will open a distribution facility in Dinwiddie County. The $6 million investment will create 16 jobs. Dinwiddie’s location was convenient to EMJ’s existing mid-Atlantic customer base. (News release)

AP Capital Partners, a private-equity firm in Orlando, Fla., bought eServices Inc., a Henrico County-based energy-management company. Founded by former employees of Dominion Resources Inc.’s gas-trading business, eServices has nine employees and may soon open a Pittsburgh office. The company is national fuel manager for MeadWestvaco, a Richmond-area paper products manufacturer. AP Capital Partners’ other businesses include labor and payroll management firms. (Richmond Times-Dispatch)

Ground was broken in Albemarle County for the Defense Intelligence Agency’s new Joint-Use Intelligence Analysis Facility. The $61 million project will be home to analysts performing similar tasks to those at the National Ground Intelligence Center, off U.S. 29. The overall development is referred to as Rivanna Station. The new 170,000-square-foot facility will be completed by 2010 and is expected to add 1,500 direct and indirect jobs to the Charlottesville area. (The Daily Progress)

Owens & Minor Inc., a distributor of medical and surgical supplies headquartered in Richmond, plans to buy The Burrows Co., a Chicago-based medical-products distributor. The deal will give Owens & Minor a greater presence in the Midwest. Burrows has nine distribution centers serving 950 customers, including a number of hospitals. Owens & Minor will pay $30.2 million for Burrows and assume $50 million to $60 million in debt. (Richmond Times-Dispatch)

SmithGifford, a Washington-area advertising agency, opened an office in Richmond’s Shockoe Slip. The firm will share office with Spurrier Media Group and Qorvis Communications. The three firms sought, and won, the Virginia Lottery account together. Matt Smith, president of SmithGifford, previously held positions with ad agencies in Richmond. (Richmond Times-Dispatch)

Star Scientific Inc., a Petersburg producer of tobacco products, won a ruling in the U.S. Appeals Court in a suit against R.J. Reynolds Tobacco Co. regarding patents covering a process to reduce cancer-causing toxins in tobacco. The suit claimed Reynolds, of Winston-Salem, N.C., infringed Star’s patents for reducing carcinogens which form during the curing of tobacco leaves. (Richmond Times-Dispatch)

A group of banking veterans from Wachovia Corp., SunTrust Banks Inc. and the defunct Signet Banking Corp. will launch a new Richmond-based financial institution, Xenith Bank, late this year or early in 2009. The group expects to raise $70 million to $100 million, including $35 million from a Texas-based private-equity firm for the startup. T. Gaylon Layfield III will serve as president and chief executive officer. (Richmond Times-Dispatch)


Reader Comments

comments powered by Disqus


showhide shortcuts