Markel is headquartered at Innsbrook. Photo by Michael Schwartz.
A local insurance giant has picked up a Georgia manufacturing company in its latest acquisition.
Markel Ventures, the acquisition and investment arm of the Glen Allen-based specialty insurer, announced on Wednesday it has acquired Cottrell Inc. Cottrell manufactures and sells trailers for hauling automobiles.
The terms of the deal were not disclosed.
Markel said it bought a majority stake in Georgia-based Cottrell and – as is typical with Markel transactions – Cottrell President and CEO Danny Zink will stay on and run the day-to-day operations.
In making its acquisitions, Markel Venture has a strategy of providing what it calls permanent capital to bolster its new holdings.
Tom Gayner
Tom Gayner, president of Markel Ventures, said the company looks for leaders in specific industries, and Cottrell is another example of that.
“It came to our attention, and we liked what we saw,” he said.
The Cottrell purchase is the first deal Markel Ventures has made since it acquired the Eagle Cos. and its various construction and real estate affiliates.
It’s the 15th acquisition for Markel Ventures since its first deal in 2005 when it bought AMF Bakery Equipment.
Its holdings include a pickle packing company, a wood flooring firm in Missouri, a tanker truck manufacturer in Pennsylvania, a baking machine company in Georgia.
Its previous Richmond acquisitions include concierge medical service PartnerMD, Diamond Healthcare and AMF Bakery Systems.
Markel is headquartered at Innsbrook. Photo by Michael Schwartz.
A local insurance giant has picked up a Georgia manufacturing company in its latest acquisition.
Markel Ventures, the acquisition and investment arm of the Glen Allen-based specialty insurer, announced on Wednesday it has acquired Cottrell Inc. Cottrell manufactures and sells trailers for hauling automobiles.
The terms of the deal were not disclosed.
Markel said it bought a majority stake in Georgia-based Cottrell and – as is typical with Markel transactions – Cottrell President and CEO Danny Zink will stay on and run the day-to-day operations.
In making its acquisitions, Markel Venture has a strategy of providing what it calls permanent capital to bolster its new holdings.
Tom Gayner
Tom Gayner, president of Markel Ventures, said the company looks for leaders in specific industries, and Cottrell is another example of that.
“It came to our attention, and we liked what we saw,” he said.
The Cottrell purchase is the first deal Markel Ventures has made since it acquired the Eagle Cos. and its various construction and real estate affiliates.
It’s the 15th acquisition for Markel Ventures since its first deal in 2005 when it bought AMF Bakery Equipment.
Its holdings include a pickle packing company, a wood flooring firm in Missouri, a tanker truck manufacturer in Pennsylvania, a baking machine company in Georgia.
Its previous Richmond acquisitions include concierge medical service PartnerMD, Diamond Healthcare and AMF Bakery Systems.