Markel Group to acquire majority stake in Valor Environmental
Markel Group to acquire majority stake in Valor Environmental | Insurance Business America
Environmental
Markel Group to acquire majority stake in Valor Environmental
CEO welcomes new addition to growing portfolio
Environmental
By
Jonalyn Cueto
Markel Group Inc. has entered into a definitive agreement to acquire a majority interest in Valor Environmental and its related operating companies. The transaction, which is subject to customary closing conditions, is expected to close in the second quarter of 2024. Additional terms of the deal were not disclosed.
Founded in 2003, Valor Environmental specializes in providing erosion control and related services to commercial development sites and homebuilders across the United States. The company started with a single street sweeper purchased on a second mortgage and has since grown to a team of over 700 employees serving more than 2,000 customers.
Markel Group’s venture into new industries began nearly two decades ago, leveraging the strength of its insurance business. With the acquisition of Valor, Markel Ventures now encompasses 20 businesses.
“We are thrilled to partner with Markel Group. This permanent home enables Valor to continue making the best long-term decisions for our customers and employees,” said Kirk Foster, president of Valor Environmental. “Our relentless focus on local customer service has gotten us here, and we are energized for the significant growth opportunities in front of us.”
Tom Gayner, CEO of Markel Group, expressed his enthusiasm for the acquisition. “When land is developed, Mother Nature has a way of moving dirt, water, and everything that comes with it to places we don’t want it to go.
“Luckily, our partners at Valor work every day to help their customers avoid unnecessary environmental impact and costly project delays,” Gayner said. “Valor takes our Ventures family to 20 companies in nearly 20 years – a point in our journey worth celebrating.”
Markel Group Inc. is a conglomerate with a diverse portfolio ranging from insurance to bakery equipment, building supplies, and houseplants.
The acquisition of Valor Environmental is part of Markel Group’s strategy to diversify its portfolio through strategic investments. As the deal moves forward, both companies anticipate significant growth and opportunities.
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