Swedish construction company Skanska has agreed to sell its 50% stake in Elizabeth River Crossings HoldCo (ERC), the holding company for Elizabeth River Tunnels Project in Virginia, for $625 million to Abertis and Manulife Investment Management. Abertis is a Spanish toll road company, while Manulife Investment Management is a Canada-based capital market company that is […]
Trustar Bank, a chartered bank based in Virginia, has acquired Granite Mortgage, a full-service correspondent mortgage loan lender based in Fairfax, Virginia. The financial terms of the deal were not disclosed. Granite Mortgage is engaged in providing conventional, federal housing administration (FHA), and veterans affairs (VA) loans and also a range variety of non- qualified […]
Hub International has acquired the insurance brokerage assets of The Olson Insurance Agency and Insure All for an undisclosed price. Max Olson and Michael Forney, the respective owners of Olson Insurance Agency and Insure All, were both previously part of Nationwide Mutual Insurance’s exclusive distribution model. Both of them had transitioned recently to independent brokers. […]
Pinnacle Bankshares, the holding company for First National Bank, has wrapped up its merger with Virginia Bank Bankshares, the holding company for Virginia Bank and Trust. According to Pinnacle Bankshares, the merger of Virginia Bank and Trust into First National Bank has also been completed, to create an enlarged community banking network in Central and […]
Global insurance brokerage HUB International has acquired the assets of WFG Benefits for an undisclosed price. WFG Benefits, which is based in McLean, Virginia, is an insurance and employee benefit planning company. It has been offering benefits solutions to businesses, associations, professional firms and institutions in the Mid-Atlantic region. Hub International, which is headquartered in […]
Universal Corporation, a Virginia-based agri-products company, has agreed to acquire Silva International, a natural, specialty dehydrated vegetable, fruit and herb processing company, for $170 million in an all-cash deal. Following the completion of the transaction, Silva International will operate as part of Universal’s plant-based ingredients platform, which includes FruitSmart and Carolina Innovative Food Ingredients (CIFI). […]
Dominion Energy has acquired the 62.5MW (AC) Madison Solar generating facility in Orange County, Virginia from Cypress Creek Renewables for an undisclosed price. The Madison Solar project will be owned by the contracted assets arm of the Virginia-based electricity and gas utility. Having secured all the relevant state and local permits, the solar farm is […]
HealthEdge acquisition of Burgess : HealthEdge Software has acquired The Burgess Group, a payment integrity software company focused on enhancing healthcare payment operations by using technology. Financial terms of the deal were not disclosed. Burgess, which is based in Virginia, has developed a cloud-based platform called Burgess Source which is said to natively bring together […]
CBIZ, a provider of financial, insurance, and advisory services, has acquired almost all the assets of Prince-Wood Insurance based in Woodbridge, Virginia, for an undisclosed price. Founded in 1967, Prince-Wood Insurance caters to small and mid-sized businesses in Northern and Central Virginia, Maryland and Washington, DC. with property and casualty insurance solutions. Prince-Wood Insurance has […]
Dominion Energy and Duke Energy said that they have scrapped their $8 billion Atlantic Coast Pipeline project citing ongoing delays and increasing uncertainties in costs of the proposed 970km long natural gas pipeline project. According to the two US energy companies, the economic feasibility of the pipeline project has been threatened as a result. The […]