A new chief executive is taking the wheel of a for-hire car service that runs its vehicles on used restaurant grease. And the company’s new driver has plans to boost its fleet, services and capital.
New CEO takes keys to biodiesel car startup
Michael Schwartz
Michael Schwartz is the editor of Richmond BizSense, and covers banking, lawsuits, finance, M&A and golf. He can be reached at [email protected] or 804-855-1037.
Local real estate funds strike a deal at West Broad Village
When it came time to think about selling off a chunk of its holdings in West Broad Village, a local private equity firm didn’t look far to find a buyer. The two sides completed a $5 million sale of one of the development’s large retail blocks last week.
Union cutting seven branches
Continuing to trim down its branches post-merger, Richmond’s largest bank is cutting seven locations across the state, including two in the Richmond area.
Northern Neck bank launches second local branch
A new-to-town bank with a presence in the Libbie-Patterson stretch has opened its second area branch in Chesterfield County.
Bank eyes spot in new downtown tower
Just a few months after making its move into Richmond, TowneBank has its sights set on a new branch among the city’s biggest banks downtown.
Years later, lawsuits and debt still haunt investment firm deal
Massive debt and legal troubles are still hovering over the company that bought a longtime downtown financial firm Anderson & Strudwick in 2011. And as the issue plays out in bankruptcy court, the company is trying to close a $150 million acquisition deal of its own.
Bank to finally free itself of TARP
After a $20 million bond offering, a local bank plans to finally rid itself of its TARP baggage with a 9,000-share buyback.
Police, fire credit unions seal merger
Richmond police officers and firefighters have joined forces financially in a merger that combines the departments’ credit unions.
Bankrupt church’s pastor accused of abusing estate funds
A pair of BMWs, a house in Ohio and offshore accounts make up a trustee’s lawsuit against the pastor of the bankrupt Richmond Christian Center and his two sons. And the church is facing another lawsuit from the winning bidder of a November auction.
DealFlow: Investment banking roundup for April 15, 2015
DealFlow is back after a brief hiatus. This latest edition is packed with deals from BB&T Capital Markets, Harris Williams, Matrix Capital Markets and others. Don’t forget to send your deals in each month to be among the closers.