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Virginia Businesses in the News


Mergers and Acquisitions
Have News to Report?
For the Record is compiled from company releases, business journals and newspaper reports from around the state. If you have an item for these listings:

• Mail it to:
For the Record
Virginia Business Magazine
P.O. Box 85333
Richmond, VA 23293

• E-mail it to ForTheRecord@va-business.com

• Fax it to (804)
649-6311
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)

SiloSmashers, a Vienna management and technology consulting firm, acquired Denali Associates of Gambrils, Md. The acquisition, the company’s first, expands SiloSmashers’ list of federal agency clients and advances the company’s growth strategy. (Business Wire)



 

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