2006    2005    2004    2003    2002    2001

2006

Cornett Hospitality, LLC

December 2006

Cornett Hospitality, LLC sold most of its real estate holdings in a sale-leaseback transaction.

Clear Signal Towers, LLC 

December 2006

Clear Signal Towers, LLC was formed to develop and operate wireless communication tower sites throughout the Mid-Atlantic.  Virginia Capital was amongst Clear Signal Tower ’s first institutional investors.  Dorothy Brunetti, formerly with American Tower, was named the CEO. 

2005

Med-IQ 
December 2005
Physicians Practice successfully converted to an LLC and changed its name to Med-IQ. 

Wireless Partners 
December 2005
Wireless Partners was formed to develop, build and acquire wireless communication towers.  

Shared Tower Sites 
December 2005 
Shared Tower Sites completed the sale of nearly 40 wireless communication towers to a strategic purchaser.  

Storage Management
December 2005 
Virginia Capital completed the sale of its membership interests in Storage Management.  

Car Pool 
November 2005
Car Pool completed the sale / leaseback of real estate located at four of its full service wash locations, selling the locations for a blended capitalization rate of 7.12%.  The company significantly reduced its debt and returned nearly all of the company's investors capital.

James River Group
August 2005 
James River Group successfully completed its initial public offering, raising approximately $90 million in proceeds.  The company now trades on the NASDAQ under the ticker JRVR.    

2004

Car Pool
September 2004 
Car Pool announced the hiring of its new CEO, Paul Carr.  Paul joined Car Pool after working for Starbucks in New York City. 

2003

Shared Tower Sites 
December 2003
Shared Towers purchased one additional tower and constructed two new towers with Nextel Partners. The company also announced the development of another site in Northern Virginia. Shared Towers has also constructed and placed in service six of the 13 planned sites in New England. The company now owns a total of 39 towers.

Physicians Practice 
November 2003 
Physicians Practice has a circulation of over 275,000, making Physicians Practice the largest physician business journal in the U.S. surpassing Medical Economics. Physicians Practice now has the second largest circulation of any physician medical journal in the U.S. 

American Exposition Centers
November 2003 
American Exposition Centers closed on a new senior debt facility from BB&T.

Cornett Hospitality 
October 2003 
Cornett Hospitality announced that two recently opened Hooter’s restaurants and one recently opened Topeka’s Steakhouse had reached record sales volumes. The company owns and operates 14 Hooter’s and Topeka’s restaurants in Virginia, West Virginia, and Pennsylvania.

James River Group 
October 2003
James River Group announced the closing of a $20 million of private equity financing provided by institutional investors to expand the company’s operations. This brings the company’s total capitalization to nearly $80 million.

Car Pool 
September 2003
Virginia Capital and other investors provided $5 million equity for the purchase and expansion of Car Pool, the largest chain of full service car washes in Virginia. The company owns and operates seven locations in the greater Richmond metropolitan market.

Mid-Atlantic Dairy Queen 
September 2003
Mid-Atlantic Dairy Queen completed construction and opened its newest store in Tidewater, Va., bringing its total restaurant portfolio to twelve.

James River Group 
July 2003
James River Group announced the closing of a $50 million of private equity financing provided by institutional investors to expand the company’s specialty property and casualty insurance business which started underwriting policies this month. This closing brings James River Group’s total capitalization to nearly $60 million.

Shared Tower Sites 
May 2003
Shared Towers closed one the acquisition of 23 wireless communication towers from Nextel Partners. Shared Towers and Nextel Partners also announced their intension to develop additional wireless communication towers together. Shared Towers owns a total of 36 towers.

Shared Tower Sites 
April 2003
Shared Towers announced the second closing on a round of capital from private investors including Westhampton Partners and Mercantile Bank. Shared Towers has a total of $8 million of committed capital. The company develops, owns and operates wireless communication towers.

James River Group 
January 2003
James River announced the closing of its initial round of capital of approximately $9 million by many of the founders and early investors of Front Royal, Inc. James River will provide specialty property and casualty insurance.

2002

Mid-Atlantic Dairy Queen 
December 2002
Mid Atlantic Dairy Queen announced it had completed the construction and opened four new restaurants in 2002 bringing total portfolio to eleven locations. International Dairy Queen’s year end results confirm that two of Mid Atlantic Dairy Queen’s restaurants are among the best revenue producer’s in the entire 6,000 restaurant chain. International Dairy Queen is owned by Berkshire Hathaway.

Shared Tower Sites
October 2002
Shared Towers and National Towers announced their joint venture agreement whereby they intend to purchase or develop 13 wireless communication sites in New England.

Cornett Hospitality 
August 2002
Cornett Hospitality announced the merger of nine affiliated restaurant companies into one common parent company, Cornett Hospitality, LLC.

Storage Management
July 2002
Storage Management announced that it has closed on the purchase of two self storage operations in Maryland.

2001

Physicians Practice 
October 2001 
Physicians Practice announced that Ted Hutton, former CEO of Lippincott Williams & Wilkins (a Wolters Kluwer company) a leading publisher of medical journals, has joined its Board of Directors.

Front Royal 
September 2001
Front Royal announced the completion of a sale of the company to Argonaut, a publicly traded property and casualty insurance company, for $165 million in cash.

Mid-Atlantic Dairy Queen
August 2001
Mid-Atlantic Dairy Queen announced that it has completed a $7 million recapitalization and growth financing with Virginia Capital as its first institutional investor.

PRA International 
July 2001
PRA announced the completion of a sale of the company to a financial buyer for approximately $100 million in cash.

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