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Ellucian acquisition deal closes
Reston higher ed tech company bought by private equity firms
The acquisition of Reston-based higher education software company Ellucian by investment firms Blackstone and Vista Equity Partners has been completed, the companies announced Wednesday. Financial terms of the deal were not disclosed. New York-based Blackstone and Texas-based Vista Equity acquired Ellucian from Texas-based TPG Capital and Los Angeles-based Leonard Green & Partners. “Today marks an
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The Hilb Group acquires Medicare-focused firm, six Va. companies
Henrico County insurance company adds to its more than 100 acquisitions
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Henrico-County based insurance company The Hilb Group LLC finalized its acquisition of Health Quote of Rhode Island Inc. on July 1, it announced Tuesday. Financial terms of the transaction were not disclosed. Health Quote specializes in Medicare offerings, and its clientele will join THG’s Medicare practice. THG CEO Ricky Spiro said in a statement, “Our
Diversity Leadership Series: Ron Carey and Brian Robertson
Co-sponsored by Virginia Business and Bank of America
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Brought to you by Virginia Business and Bank of America, join us every other month for the Diversity Leadership Series — virtual fireside chats with a diverse group of Virginia business leaders sharing their insights and thoughts on leadership, their career paths, and diversity and equity. Our series kicked off on July 20 with Brian
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Fed says Fifth District economy growing moderately
Companies see increased demand but continuing labor shortages
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, the Federal Reserve’s Fifth District (including Virginia, North Carolina, South Carolina, West Virginia and Maryland) has been seeing moderate economic growth in recent weeks, according to the latest edition of the Federal Reserve’s Beige Book, which was released Wednesday. The Beige Book is published eight times per year and is based on anecdotal information
Va. Hospital Center receives $5M gift from Arlington CEO
Lola C. Reinsch leads property management firm E. G. Reinsch Co.
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Virginia Hospital Center in Arlington has received a $5 million donation from longtime donor Lola C. Reinsch to promote the hospital’s campus expansion efforts. “We are honored to receive this gift and would like to thank Lola and the Reinsch Pierce family for their enduring commitment to Virginia Hospital Center,” Virginia Hospital Center Foundation President Tony
Scottish company to locate data center HQ in Loudoun
Aggreko plc provides temporary power generation equipment
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Scottish energy solutions company Aggreko plc will establish its data center division’s North American headquarters in Leesburg, according to an announcement Friday from Loudoun County’s economic development department. Headquartered in Glasgow, Scotland, Aggreko provides temporary power generation equipment and temperature control equipment. “We are pleased to welcome Aggreko to the growing ecosystem of energy and
Altria to sell winemaking division for $1.2B
Washington-based Ste. Michelle Wine Estates brands include Chateau Ste. Michelle, 14 Hands, Columbia Crest
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Henrico County based Altria Group Inc. announced Friday that it has entered into a definitive agreement to sell its Ste. Michelle Wine Estates winemaking division for $1.2 billion to New York-based private equity firm Sycamore Partners Management LP in an all-cash deal. The deal is expected to close by the end of this year. The
Huntington Ingalls Industries to acquire Alion in $1.65B deal
McLean-based defense contractor Alion Science and Technology has $3B backlog
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Newport News-based Fortune 500 military shipbuilder Huntington Ingalls Industries will acquire McLean-based defense contractor Alion Science and Technology Corp. from Veritas Capital in a $1.65 billion, all-cash deal, HII announced in a news release Tuesday. The deal is expected to close by the end of this year, with Alion becoming part of HII’s Technical Solutions
Commercial truck, van floor manufacturer to build $12.8M plant in Patrick County
Prolam LLC will create 58 jobs at new facility
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Prolam LLC, a Canadian manufacturer of hardwood floors for commercial trucks and dry van trailers, will invest $12.8 million to establish its first U.S. manufacturing plant at the former Ten Oaks satellite facility in Patrick County, creating 58 jobs, Virginia Gov. Ralph Northam announced Wednesday. The facility will increase Prolam’s manufacturing capacity by 50%, and
Shenandoah Growers taps ex-Starbucks exec as new CEO
Indoor agriculture company also hires new CFO
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Rockingham County-based indoor agriculture company Shenandoah Growers Inc. has appointed former Starbucks Inc. Chief Marketing Officer Matthew Ryan as the company’s new CEO. And Mike Buckley, former senior vice president of business for Postmates, has been hired as Shenandoah Growers’ chief financial officer, the company announced Wednesday. Former Shenandoah Growers CEO Tim Heydon, who stepped