Principled Technologies, a marketing and testing firm based in Durham, acquired Colorado-based technology research and analysis company Demartek. Financial details of the deal were not disclosed. The combined companies have just under 100 employees.
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Family Dollar will close its Matthews headquarters by fall 2019, eliminating about 200 jobs. Another 700 workers will be given the opportunity to relocate to its consolidated headquarters in Chesapeake, Va. The discount retailer was acquired by Virginia-based Dollar Tree in 2015 for $9 billion.
Charlotte-based insurance broker American Wholesale Insurance Holding Co. raised $6.7 million in a private-equity offering. The firm, which operates as AmWINS Group, raised $10.1 million in July in a private-equity offering. AmWINS, founded in 1998, has more than 4,200 employees in 30 states and 12 countries.
NV5 Global acquired Cary-based Calyx Engineers + Consultants for $36 million. Calyx, formerly Mulkey Engineers and Consultants, employs 225 and is owned by 21 employees, including former CEO Jill Heath, who will remain a division president. Hollywood, Fla.-based NV5 had revenue of $333 million in 2017.
Officials from Duke Energy say it may take multiple weeks to restore power in parts of southeastern North Carolina because of the heavy flooding. More than 1,500 Duke employees are in the area working on the problem.
The N.C. Pork Council said one small hog lagoon breached and four others flooded due to heavy rainfall this last week. Seven other lagoons are at capacity. Overall, the pork industry trade association does not believe the storm has caused significant damage at the state’s 3,000 lagoons. North Carolina is the second-largest pork producing state, mostly concentrated in the storm-plagued southeast section.
Charlotte-based technology consulting firm Levvel named Chris Hart chief executive officer. Hart replaces John Espey, who served in the role for five years. Hart, who co-founded the company with Espey, previously served as chief technology officer.
Winston-Salem building products provider Cook & Boardman Group is investing seven figures in a larger corporate office. Construction of the 15,585-square-foot-building in Salem Creek Business Park started in August and is expected to be completed in November. The company plans to grow from 35 employees to 75 by 2025.
Cary-based health care training firm Relias acquired the health division of OnCourse, a Brookfield, Wisc.-based company. Relias CEO Jim Triandiflou says the acquisition will bring about 50 to 100 jobs to Cary. The deal requires approval from federal regulators. Relias is owned by German media conglomerate Bertelsmann.
The Federal Energy Regulatory Commission said construction can start again on the $6.5 billion Atlantic Coast Pipeline. The federal agency had issued an order to suspend the project Aug. 10 after an appeal court voided permits from the U.S. Fish and Wildlife Service and the National Park Service. Once completed, the pipeline will pump natural gas from West Virginia through Virginia and North Carolina.
Philadelphia-based food service provider Aramark Corp. is selling Healthcare Technologies of Charlotte to Indianapolis-based Trimedx for $300 million. Aramark is focusing on food, facilities and uniforms. Healthcare Technologies helps manage clinical equipment at more than 500 hospitals and clinics. The deal is expected to close by the end of 2018.
The Horton Hotel, the only planned downtown boutique hotel in Boone, is scheduled to open Jan. 1. Reservations can now be made for dates in 2019.
At least 17 people have been confirmed dead as Florence continues across North Carolina. The storm is anticipated to travel up through West Virginia and Ohio. Wilmington remains virtually cutoff from the rest of the state by rising flood waters, and officials are working to airlift food and water to the city.
Several North Carolina colleges are closed on Monday due to the continuing impact of Hurricane Florence. Appalachian State University, East Carolina University and Fayetteville State University are among those planning to suspend classes Monday and Tuesday. The hardest-hit campus, UNC Wilmington, is closed indefinitely, officials said.
Blue Cross Blue Shield of North Carolina and UNC Health Care, among other health care providers, are offering free services to members impacted by Tropical Storm Florence. Blue Cross is allowing members to delay paying premiums for 30 days through Oct. 13. UNC Health Care waived fees for virtual care services through Sunday night.
A power outage at the Southside Waterwater Treatment Plant, just south of Wilmington, and the failure of two backup generators caused about 5.25 million gallons of partially treated waste water to spill into the Cape Fear River on Friday. The water had undergone normal treatments except the second clarifier and disinfectant.
An undetermined amount of coal ash from the landfill at Duke Energy’s Sutton Power Plant was released into Sutton Lake due to rains from Tropical Storm Florence. Officials at Duke Energy believe only a small amount of coal ash leaked, and none of the ash escaped from any of Duke’s inactive coal-ash points at the site. The plant is five miles north of downtown Wilmington.
High Point pharmaceutical manufacturer Cambrex High Point Inc. is asking city council to appprove incentives that would attract 78 jobs with an average annual wage of $78,438. The company is considering a $30 million investment in its High Point facilities, and is asking for $428,400 in incentives. Cambrex has about 80 employees in High Point.
Durham-based drug development company Icagen Inc. raised $7.25 million, bringing its 2018 total to $20.75 million. The company raised only $3.5 million in 2017.
As Hurricane Florence nears the coast with top sustained winds of 90 mph, it has been downgraded to a Category 1 hurricane. At 7 a.m., the storm was moving west at about 6 mph and about to make landfall near Wrightsville Beach, according to the National Hurricane Center.
More than 306,000 residents and businesses had lost power as of 5 a.m. on Friday due to Hurricane Florence. There were around 96,000 outages in Carteret, Craven, Pamlico, Onslow and New Hanover counties; 8,241 in Wake; 1,557 in Chatham; 728 in Durham; and 920 in Orange County.
The storm surge from Hurricane Florence has shut down N.C. 12 on Hatteras Island and parts of U.S. 70 between Beaufort and Atlantic. N.C. 12 is likely to remain closed as the hurricane moves inland; the road will need to be inspected and possibly repaired before reopening.
The Charlotte Chamber of Commerce and the Charlotte Regional Partnership are nearing a merger. The combined organization will be led by a CEO who will be hired after a national search, expected to be complete in early 2019. The chamber, which employs 35, has an operating budget of $8.5 million. The partnership’s budget is $2.2 million.
Gilead Sciences, a California biotech, is partnering with Durham-based Precision BioSciences to create hepatitis B therapies. Gilead will fund the research and development, and Precision could receive payments of up to $445 million. Precision, which has around 30 employees, raised $110 million in Series B funding in June.
Durham-based clinical-research organization IQVIA’s corporate controller and vice president of finance Robert Parks is leaving “to pursue other opportunities.” Emmanuel Korakis will take over as senior vice president, corporate controller and principal accounting officer at the company previously known as Quintiles. He will be based in New Jersey.
The Elizabeth City State University Board of Trustees elected attorney Harold Barnes as chairman, former Sentara Albemarle Medical Center administrator Jan King Robinson vice chairwoman and Coast Guard Cmdr. Bruce Brown secretary. ECSU is still searching for a new chancellor and hopes to fill the position by January.
Hurricane Florence has been downgraded to a Category 2 storm with a maximum wind speed of 110 mph. The storm, which is still anticipated to cause major damage in the Carolinas, is expected to make landfall Friday morning somewhere between Cape Lookout and Wilmington.
The Department of Homeland Security is investigating whether Brock Long, administrator of FEMA, misused government resources and personnel by driving back and forth from Washington, D.C. to his Hickory home, two officials told Politico. Long’s routine absences because of frequent six-hour drives between North Carolina and Washington prompted conflict with his boss, Kirstjen Nielsen, the secretary of Homeland Security.
Hurricane Florence’s power will be the first major test of Duke Energy’s Brunswick nuclear plant’s safeguards installed at the 1,200-acre energy complex. The 2011 nuclear disaster at the Fukushima Daiichi plant in Japan occurred at a facility that was built during the same time period with the same design as the Brunswick plant. The Brunswick plant is one of around 24 U.S. reactors that still rely on General Electric nuclear technology that dates back to the ’60s.
Precision vehicle parts manufacturer Reich LLC is investing $10.9 million in an expansion of its Arden plant and adding 15 jobs to its 160 employee workforce. The company is a subsidiary of German-based Reich-Kupplungen. The new jobs’ pay scale will be 40% higher than Buncombe County’s average annual wage of $41,856.
Charlotte-based energy provider Duke Energy Corp. predicts up to 3 million customers in the Carolinas could lose power during Hurricane Florence’s rampage across the East Coast. The storm is expected to cause at least as much damage as Hurricane Matthew. Duke has about 4.2 million customers in the two states.
The Piedmont Triad International Airport plans to stay open, despite the impending impact of Hurricane Florence. Officials say airlines will dictate cancellations or delays of flights.
Vans, a VF Corp. brand, plans to expand from $2 billion in revenue to $5 billion by fiscal year 2023. Greensboro-based VF is moving its headquarters to Denver and spinning off its denim business, which includes the Wrangler and Lee brands. Vans is viewed as among VF’s most promising brands because of its appeal to younger consumers.
Due to Hurricane Florence, MFGCON 2018 and the robotics workshop, originally scheduled Sept. 17-19, has been rescheduled for Nov. 12-14. The event will still be at the Durham Convention Center. MFGCON is North Carolina’s premier conference for manufacturing and innovation, powered by Business North Carolina magazine and the North Carolina Manufacturing Extension Partnership.
San Francisco-based bike-share company Lime is proactively removing its scooters and bikes from Carolina communities that could be impacted by the hurricane. City officials in Raleigh, Durham and Charlotte reached out to Lime and other transportation-share companies such as Calif.-based Bird, asking them to remove scooters and bikes from the cities so they do not become projectiles during the storm.
The North Carolina Zoo shut down operations on Wednesday to prepare the staff and animals for Hurricane Florence. Loose items at the zoo such as banners and tarps have been taken down, and the staff is working with veterinarians to ensure animals continue to receive their food and medication throughout the storm. Officials will make a decision on Friday whether to remain closed longer.
Hurricane Florence is still headed toward the Carolinas, but its path has shift south and west, with more of South Carolina and western North Carolina in its path. Florence has strengthened to a Category 4 hurricane, and the North Carolina coast now expects 20 to 30 inches of rainfall.
One of the world’s largest sporting events, the FEI World Equestrian Games taking place at the Tryon International Equestrian Center, is still on schedule. Officials say there is a “robust” emergency response in place if Hurricane Florence should impact any part of the 13-day event. Tryon is more than 350 miles from mandatory evacuation areas and has a history of being a “safe harbor” for horses during tropical storms.
Thomas Built Buses, a subsidiary of Daimler Trucks North America, is laying off 115 production workers in High Point. Impacted employees will have the opportunity to attend a job fair hosted by the parent company.
Sysdig, a cloud-computing technology company based in San Francisco, expects to grow its Triangle operations after raising $68.5 million. The company recently opened its second headquarters in Raleigh. Sysdig has raised more than $120 million in capital so far.
As Hurricane Florence nears, the Category 4 storm is threatening to kill thousands of farm animals and cause huge waste spills at sewage-treatment plants. There is potential risk of flooding and collapse at hog-waste lagoons, poultry farms and coal-ash ponds. Hurricane Matthew caused 11 sewage spills in eastern North Carolina, and thousands of hogs were drowned by floodwaters during Hurricane Floyd in 1999.
Raleigh-based software firm Pendo raised $50 million in venture-capital funding, led by Silicon Valley-based Sapphire Ventures. The company plans to expand its offerings in Europe and Asia. Pendo currently has 228 employees, including 161 in Raleigh.
Two new industrial projects planned for the I-85 corridor in Concord could bring a combined investment of more than $22 million to the city. Meadows Corporate Park, a $9.9 million industrial park being developed by Fortius Capital Partners, will include two multi-tenant buildings. Griffin Industrial Realty Inc. is constructing two speculative industrial buildings for $12.8 million nearby.
Oil prices have jumped nearly $2 a barrel as Hurricane Florence continues to head toward the East Coast. The price increase in barrels could have a brief but dramatic impact on pump prices. The hurricane is expected to make landfall on Friday.
Insurance shares have dropped dramatically as Hurricane Florence gains strength and heads for the east coast. Shares of home improvement companies such as Home Depot and Lowe’s gained as a likely rebuilding effort looms.
Durham-based Bitcoin mining company MGT Capital Investments Inc. CEO Robert Ladd faces federal charges for his participation in a fraudulent scheme that generated more than $27 million in unlawful stock sales. Ladd is currently on a leave of absence from the company. Chairman H. Robert Holmes will step in as interim CEO.
Charlotte-based department store Belk is launching a cosmetics line called Belk Beauty. The beauty products will run for $10 to $22. Belk Beauty launches in stores and online Sept. 19. The company has been working to increase profits by adding products that are only available in Belk stores.
VF Corp.’s Wrangler apparel division is opening a downtown pop-up store, a 2,200-square-foot space at the corner of Elm and Washington streets. It is slated to open Oct. 5 and operate through early next year. A similar short-term store helped draw consumers last year, said Zack Matheny, president of Downtown Greensboro Inc. Wrangler is based in Greensboro.