Markel Ventures Inc today announced its acquisition of Virginia-based Eagle Construction and its affiliate entities.
Today’s announcement marks the extension of Markel’s earlier investment in Eagle’s platform. In 2010, the two companies formed a joint venture titled Markel | Eagle Partners to create a leading real estate asset manager.
Tiger Legatus Master Fund was up 0.1% net for the second quarter, compared to the MSCI World Index's 7.9% return and the S&P 500's 8.5% gain. For the first half of the year, Tiger Legatus is up 9%, while the MSCI World Index has gained 13.3%, and the S&P has returned 15.3%. Q2 2021 hedge Read More
Markel’s 14th acquisition
Thomas S. Gayner is the President and Chief Investment Officer of Markel Ventures. Markel Corporation (NYSE:MKL) had an exciting 2012 with the company having made a string of major acquisitions, generating a 20 percent return on its equity investment portfolio. Markel experienced a 53 percent increase in revenues in Markel Venture Operations. Notable acquisitions of Markel in 2012 include Thompson Insurance Enterprises, Essentia Insurance and Alterra Capital Holdings Ltd.
According to a Bloomberg report, Eagle would be the 14th company in Markel Ventures which acquired companies outside the insurance industry.
Eagle’s focus on construction
The Eagle Companies are a vertically integrated set of companies that have its roots in Eagle Construction. Eagle Construction is a recognized leader in designing active adult communities and in building energy efficient homes through its signature E3 program. Recently, the Eagle Companies platform has also expanded into commercial leasing, besides commercial construction and management, title insurance and residential brokerage.
Markel Corporation, a leading diversified financial holding company that underwrites specialty insurance products.
Sharing deep understanding
Welcoming the new arrangement, Eagle Construction’s President Robert “Bud” Ohly Jr. indicated Eagle’s longstanding relationship with Markel gave them the assurance that both share deep commitment to customers, trade partners and dedicated team of employees.
Thomas S. Gayner, President and Chief Investment Officer of Markel Ventures complemented Eagle for its 29 year history of providing customers with quality products and outstanding customer service, which aligns well with Markel Venture companies’ policies. According to Tom Gayner, as an investor, he evaluates every company to find out if a certain company has a profitable business with good returns without using huge debt, has equally and sufficiently talented and honest management team, its style in managing capital and reinvestment dynamics. He also determines the valuation and the amount of investment his firm needs to acquire ownership in a company.