Cherry, Bekaert & Holland,
a Richmond-based CPA firm, acquired Healthcare
Business Solutions, a health services consulting
company. HBS is now a division within CB&H
that provides practice management and consulting
services to physicians, dentists and other healthcare
providers. (Press release)
Circuit City, a Richmond retailer of consumer
electronic products, bought InterTAN, an Ontario-based
consumer electronics chain in Canada for $284
million. The purchase allows Circuit City to
offer InterTan’s accessories and electronic
gadgets to be sold through Circuit City’s
U.S. stores. The company also announced plans
to buy MusicNow, an online music store, to expand
the company’s Web business. (Richmond
Times-Dispatch)
Dominion, an energy company headquartered in
Richmond, bought a 138-megawatt power station
in Mecklenburg County from United American Energy
Holdings of New Jersey. (Press release)
Gannett Co., a media and communications firm
based in McLean, bought Captivate Network of
Westford, Mass. Captivate Network delivers programming
and advertising on television screens in elevators
in office towers throughout North America. (Business
Wire)
General Dynamics, a Falls Church defense contractor,
plans to acquire Spectrum Astro of Gilbert,
Ariz., a space systems hardware and software
integration firm. The purchase boosts General
Dynamics’ ability to service government
reliance on satellite-based communication and
intelligence systems. Spectrum Astro will operate
as part of General Dynamics C4 Systems in Scottsdale,
Ariz. (Press release)
Gray Television, an Atlanta communications
company, purchased a television license from
Charlottesville Broadcasting Corp. to operate
Channel 19 in Charlottesville. The station is
expected to be operational by August, and will
broadcast as an affiliate of CBS. (Press release)
Hilb Rogal & Hobbs of Richmond, an insurance
and risk management intermediary, bought Banack
Insurance Agency of Vero Beach, Fla., a leading
insurance broker in the East Coast Florida region.
(Press release); HRH also bought The Federau
Group, a group of affiliated insurance brokers
in Lansing, Mich. (Press release)
ISR Solutions, a Chantilly-based electronic
security systems integrator, acquired The COMM
Group, an electronic systems integrator in western
Pennsylvania and eastern Ohio. Along with the
purchase, ISR announced an $11 million equity
investment led by Caryle Venture Partners and
Fairfax Partners to fund the acquisition and
provide for future growth initiatives. (Press
release)
MCG Capital Corp., an Arlington-headquartered
financial advisory services company, bought
Kagan World Media, a Carmel, Ca., research firm
focused on the media, communications and entertainment
sectors, from Primedia Inc. Kagan Research will
operate as a wholly-owned subsidiary of MCG
Capital. (Press release)