Posted August 31
Hilb Rogal & Hobbs
Co.,
a Richmond-based insurance broker, bought Brown/Raynor
Corp., a Colorado-based provider of insurance coverage
plans, in a move that bolsters the company’s
presence in western states. (News release)
LandAmerica Financial Group Inc.,
a provider of real estate transaction services headquartered
in Richmond, bought Chisholm, Nurser
& Partners Limited, a building and project consultant
in the United Kingdom. CNP will become part of LandAmerica
Assessment Corp., a subsidiary of LandAmerica. The acquisition
will expand LandAmerica’s services in Europe. (PR
Newswire)
Massey Energy Co., a Richmond coal company, bought
assets of Peachtree Ridge Mining Co. Inc. and Belle Coal
Co. Inc. in Clay and Nicholas counties, West Virginia.
Massey paid $2.5 million in cash and deferred payments
plus assumption of mine reclamation liabilities for about
15 million tons of leased coal reserves and a deep mine
permit. The company has no current plans to mine, but
could activate the facility if market conditions warrant. (Richmond
Times-Dispatch)
Posted August 6
Consol Energy Inc., a Pennsylvania-based coal-mining
firm, bought Amvest Corp. of Charlottesville for
$335 million, along with Amvest’s subsidiaries
Amvest West Virginia Coal and Vaughan Railroad Co. Consol
did not buy Amvest’s natural gas business or its
headquarters location. Among other assets, Consol gains
200 million tons in coal reserves through the transaction. (The
Daily Progress)
Hilb Rogal & Hobbs Co., an insurance and
risk management broker headquartered in Richmond, bought
The Resource Group LC, an employee-benefits brokerage
and consulting firm in Overland Park, Kan. (Business
Wire)
Stewart Wealth Management Group of Fredericksburg
merged with the Richmond investment firm Cary Street
Partners. Stewart Wealth serves a client base of
high net worth individuals, nonprofits and corporations.
The combined firm will have over $1 billion in assets
under management and serve 200 clients in 27 states. (Richmond
Times-Dispatch)
Posted July 10
AES Corp., an Arlington-based power company,
bought two wind generation operations in Minnesota and
Iowa from GE Energy Financial Services, a unit of General
Electric. The deal gives AES over 1,000 megawatts of
wind-generating facilities in operation or under construction. (Business
Wire)
CACI International Inc., a defense technology
company headquartered in Arlington, agreed to buy the
consulting firm The Wexford Group International of
Vienna. Wexford, with a staff of 190 professionals, offers
advice to federal government clients on technology, communications
and management strategy. (PR Newswire)
LCC International Inc., a McLean-based provider
of wireless services, bought the domestic engineering
assets of Wireless Facilities Inc. of San Diego, Calif.
for $39 million. (Business Wire)
Sprint Nextel, a Reston telecommunications company,
bought its affiliate Northern PCS for $312.5 million,
its seventh such deal in two years. The acquisition includes
service areas in the upper Midwest. Affiliate partners
provided Sprint Nextel service in rural areas, but several
of the affiliates have sued over the selling of Nextel-branded
products, claiming violation of a no-compete agreement.
Purchase of many of these affiliates was seen as a cheaper
alternative to protracted litigation. (The Washington
Post)
